Regulatory Alerts2026-06-18 | A 8448Circular LISOL 1-1146 OPRAC 1-1313: Financing to the Non-Financial Public Sector. 2026 Financing Program – PF26 of Neuquén Province
The Central Bank of the Argentine Republic issued Communication “A” 8448 to waive internal restrictions for financial entities acquiring up to $620 billion in Neuquén Province Treasury Notes under the 2026 Financing Program (PF26). The resolution explicitly permits these acquisitions without applying the standard credit risk fragmentation limits, provided the notes comply with Provincial Law 3,552 and Ministry of Economy conditions. Financial entities are simultaneously prohibited from applying their foreign currency deposit lending capacity to subscribe to these specific Treasury Notes.
. "2026 – YEAR OF ARGENTINE GREATNESS" "2026 – YEAR OF ARGENTINE GREATNESS" . COMMUNICATION “A” 8448 18/06/2026 TO FINANCIAL ENTITIES: Ref.: Circular LISOL 1-1146, OPRAC 1-1313: Financing to the Non-Financial Public Sector. 2026 Financing Program – PF26 of the Province of Neuquén.
We address you to inform you that this Institution has adopted the resolution which, in its relevant part, provides: “- No observations shall be made, within the framework of the restriction contained in point 2.1 of the consolidated text on Financing to the Non-Financial Public Sector, regarding financial entities' ability to acquire Treasury Notes to be issued by the Province of Neuquén up to a nominal value of $620,000,000,000 (six hundred twenty billion pesos) or its equivalent in other currencies at the time of issuance, within the framework of the “2026 Financing Program – PF26”, in accordance with Provincial Law 3,552 and according to the conditions established in note NO-2026-58740236-APN-SH#MEC of the Secretariat of Treasury of the Ministry of Economy, without prejudice to the compliance by the participating financial entities with the provisions on credit risk fragmentation set forth in that regulatory framework. The participating financial entities may not apply their foreign currency deposit lending capacity to the subscription of the aforementioned Treasury Notes, in accordance with Section 2 of the consolidated text on Credit Policy.” We extend our respectful regards. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Chief Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation