Distribution of results of financial institutions. Prior authorization from the BCRA.

We address you to inform you that this Institution adopted the following resolution:

“- To provide, with effect from 30.8.19, that financial institutions must have prior authorization from the Central Bank of the Argentine Republic for the distribution of their results.

In said authorization process, the Superintendency of Financial and Exchange Institutions will take into account, among other elements, the potential effects of the application of international accounting standards according to Communication “A” 6430 (Point 5.5. of IFRS 9 - Impairment of financial assets) and of the restatement of financial statements provided for by Communication “A” 6651.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications
Agustín Torcassi
Deputy General Manager of Financial Regulation

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Mentions (2): 2 documents this one mentions without changing them

Refers to

Restatement of Financial Statements - Law 27.468.2019 · BCRA
“and of the restatement of financial statements provided for by Communication “A” 6651.”
Point 5.5 of IFRS 9 - Impairment of financial assets - Application as from 01.01.2020.2018 · BCRA
“the potential effects of the application of international accounting standards according to Communication “A” 6430”