Regulatory Alerts2026-05-15 | A 8438Circular SINAP 1-248 National Payments System - Checks and Other Compensable Instruments. Update.
The Central Bank of the Argentine Republic (BCRA) issued Circular SINAP 1-248 to update the operational framework for its National Payments System, specifically governing checks and other compensable instruments. The circular mandates financial entities, electronic clearing chambers, and payment service providers to implement standardized procedures for the electronic truncation, generation, and settlement of common, deferred payment, certified, and electronically generated checks (ECHEQ), alongside the electronic circulation of certificates for time deposits and investments (CEDIP). It establishes precise validation rules, rejection codes, settlement timelines, and inter-institutional cooperation obligations to ensure seamless clearing operations and systemically important infrastructure compliance.