Guarantees. Update.

We address you to send you the sheets that, in replacement of those previously provided, should be incorporated into the reference regulations based on the provisions disseminated through Communication “A” 6637.

It is recalled that on the page of this Institution www.bcra.gob.ar, by accessing “Financial System – LEGAL AND REGULATORY FRAMEWORK – Ordering and Summaries – Ordered texts of general regulations”, you will find the modifications made with texts highlighted in special characters (strikethrough and bold).

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Matías A. Gutiérrez Girault
Issuance Manager of Regulations
Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications

ANNEX

B.C.R.A. GUARANTEES
Section 1. Classes.

The contracts that instrument the financings must clearly establish that the failure to contract insurance in favor of the acquirers of the projected functional units, in accordance with the provisions of article 2071 of the Civil and Commercial Code of the Nation, will not deprive the financial entity of any right arising from the financing granted.

When it concerns the pledge or assignment as guarantee of rights over functional units for financings granted directly to the acquirers, in addition to the aforementioned requirements, the following will be required: i) the presentation of a copy authenticated by a notary of the instruments by which those rights were constituted in favor of the respective acquirers and ii) a copy of the construction plan approved by the competent authority in which it is observed that it includes all the projected functional units that will be subdivided.

1.2.10. Pledge or assignment as guarantee of the debt instruments referred to in point 3.2.9. of the regulations on “Financing to the non-financial public sector”.

1.2.11. Naval mortgage or pledge, registered in first degree on ships or naval artifacts –enabled or under construction–, in accordance with the provisions of Law 20.094 (and its amendments).

1.3. Remaining guarantees.

Guarantees not explicitly included in the preceding points, such as the mortgage in a degree other than first and the pledge or surety of shares or commercial documents and the liens constituted abroad in accordance with legislations other than the local one –except in the cases expressly provided for–, will be considered non-preferred.

1.4. Reference amount.

The amount to be considered will be the maximum level of the value of total annual sales for the “Micro” category corresponding to the “Commerce” sector determined by the application authority of Law 24.467 (and its amendments).

Version: 17th. COMMUNICATION “A” 6898
Validity:
12/2/2020
Page 8

CENTRAL BANK OF THE ARGENTINE REPUBLIC

GUARANTEES


ORDERED TEXT			SOURCE REGULATION			OBSERVATIONS
Section	Point	Paragraph	Com.	Annex	Point Paragraph
1.	1.2.5.		“A” 3259		1.	According to Com. “A” 3314, 5067 and 6250.
	1.2.6.		“A” 3314			According to Com. “A” 4529 and 6558.
	1.2.7.		“A” 4491		1.	According to Com. “A” 4501, 5998 and 6250.
	1.2.8.		“A” 6250			According to Com. “A” 6297 and 6605.
	1.2.9.		"A" 6250			According to Com. "A" 6297.
	1.2.10.		"A" 6449		2.	According to Com. "A" 6898.
	1.2.11.		"A" 6605		2.
	1.3.		"A" 7			Specifications of the "other guarantees received" items, amended by Com. "A" 2932.
	1.4.		"A" 5998		1.	According to Com. "A" 6528.
2.	2.1.	1°	"A" 2448			Statement of debtors' position (point 6.1.2.2.2.).
		2°	"A" 2932	sole	2.1. 2°
	2.2.		"A" 2216	I	1. 4°	According to Com. "A" 6374.
3.	3.1.		"A" 2932	sole	3.1.	According to Com. "A" 6374.
	3.1.1.		"A" 2932	sole	3.1.1.	According to Com. "A" 3918.
	3.1.2.		"A" 2932	sole	3.1.2.
	3.1.3.		"A" 2932	sole	3.1.3.	According to Com. "A" 3918.
	3.1.4.		"A" 2932	sole	3.1.4.
	3.1.5.		"A" 2932	sole	3.1.5.	According to Com. "A" 3918, 4242 and 4741.
	3.1.6.		"A" 2932	sole	3.1.6.	According to Com. "A" 3918 and 6328.
	3.1.7.		"A" 2216	I	1. 3°, g)	According to Com. "A" 2932.
	3.1.8.		"A" 2216	I	1. 3°, h)	According to Com. "A" 2932.
	3.1.9.		"A" 2216	I	1. 3°, i)	According to Com. "A" 2932.
	3.1.10.		"A" 2932	sole	3.1.11.	According to Com. "A" 3104 and 4522.
	3.1.11.		"A" 2932	sole	3.1.12.	According to Com. "A" 3918.
	3.1.12.		"A" 2932	sole	3.1.13.
	3.1.13.		"A" 2932	sole	3.1.14.
	3.1.14.		"A" 2419	1.	1°, ii)	According to Com. "A" 2932, 3314, 3918, 4551 (point 2.), 4559 (point 3.), 5998 and 6297.
	3.1.15.		"A" 2932	sole	3.1.18.	According to Com. "A" 3918 and 6162.
	3.1.16.		"A" 6162		4.
	3.1.17.		"A" 2932	sole	3.1.19.	According to Com. "A" 3141, 3918, 4242, 4465 and 5275.
	3.1.18.		"A" 3114		2.	According to Com. "A" 4242.
	3.1.19.		"A" 3259		2.	According to Com. "A" 5067.
	3.1.19.1.		"A" 4559		5.	According to Com. "A" 5998.
	3.1.19.2.		"A" 4559		5.	According to Com. "A" 5998.
	3.1.19.3.		"A" 3259		2.	According to Com. "A" 3314, 3918 and 4559 (point 5.).
	3.1.19.4.		"A" 3259		2.	According to Com. "A" 3918 (point 4.).
	3.1.19.5.		"A" 3259		2.	According to Com. "A" 3314 (point 3.).
	3.1.19.6.		"A" 3314		6.