2020 - YEAR OF GENERAL MANUEL BELGRANO

COMMUNICATION “A” 7114 24/09/2020

TO FINANCIAL INSTITUTIONS:
Ref.: Circular
REMON 1 - 1028

Minimum cash. Adaptation.

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We address you to inform you that this Institution adopted the resolution that, in its pertinent part, establishes:

“- Increase, with effect for financings granted by financial institutions as from 1.10.2020 under the “AHORA 12” Program, to 50% the percentage of those financings that will be deductible from the minimum cash requirement in pesos.”

On the other hand, we send you the pages that, replacing those previously provided, should be incorporated into the reference standards. In this regard, it is recalled that on this Institution's website www.bcra.gob.ar, by accessing “Sistema Financiero - MARCO LEGAL Y NORMATIVO - Ordenamientos y resúmenes - Textos ordenados de normativa general”, 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

Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications
María D. Bossio
General Deputy Manager of Financial Regulation

ANNEX

MINIMUM CASH B.C.R.A.
Section 1. Requirement.

1.5. Reduction of the average requirement in pesos.

1.5.1. Based on certain financings.

The requirement will be reduced in accordance with the share in the total financings to the non-financial private sector in pesos at the entity of financings to micro, small and medium-sized enterprises (MSMEs) in the same currency –according to the definition contained in the standards on “Determination of the condition of micro, small or medium-sized enterprise”– considering that classification at the time of granting, according to the following table:

Share of financings to MSMEs with respect to total financings to the non-financial private sector, at the entity. In %	Deduction (on the total of the concepts included in pesos). In %
Less than 4	0,00
Between 4 and less than 6	0,75
Between 6 and less than 8	1,00
Between 8 and less than 10	1,25
Between 10 and less than 12	1,50
Between 12 and less than 14	1,75
Between 14 and less than 16	2,00
Between 16 and less than 18	2,20
Between 18 and less than 20	2,40
Between 20 and less than 22	2,60
Between 22 and less than 24	2,80
Between 24 and less than 26	3,00
Between 26 and less than 28	3,20
Between 28 and less than 30	3,40
30 or more	3,60

For the purposes of calculating financings to MSMEs, to determine the percentage of participation, it will be taken into account whether they meet that condition at the time of granting the assistance, considering all outstanding financings. If the borrower ceases to meet the MSME condition, the financings granted up to that moment will be counted.

The moving average balance at the end of the last 12 months prior to the under report of the financings in pesos (Loans and Credits for Financial Leases) granted to MSMEs with respect to the total of those financings to the entity's non-financial private sector will be considered.

1.5.2. Based on the granting of financing under the "AHORA 12" Program.

For those financial institutions that are adhered to that program, the requirement will be reduced by an amount equivalent to 35% of the sum of the peso financings granted up to 30.9.2020 and to 50% for the peso financings they grant as of 1.10.2020, in both cases:

Version: 24th. COMMUNICATION "A" 7114
Effective date:
01/10/2020
Page 11

CENTRAL BANK OF THE ARGENTINE REPUBLIC

MINIMUM CASH

CONSOLIDATED TEXT			ORIGINATING RULE					OBSERVATIONS
Sec.	Point	Para.	Com.	Annex	Sec.	Point	Para.
1.	1.3.8.		"A" 4360			2.		According to Com. "A" 5356 and 6616.
	1.3.9.		"A" 4754			6.		According to Com. "A" 5356, 5980, 6195, 6526, 6532, 6616 and 6728.
	1.3.10.		"A" 5945			4.		According to Com. "A" 6069, 6204 and 6616.
	1.3.11.		"A" 6341					According to Com. "A" 6616.
	1.3.12.		"A" 6069			4.		According to Com. "A" 6616.
	1.3.13.		"A" 6992
	1.3.14.		"A" 5356			1.		According to Com. "A" 6616 and 6706.
	1.3.15.		"A" 6526					According to Com. "A" 6532, 6550, 6587, 6616, 6706 and 7016.
	1.3.16.		"A" 6550					According to Com. "A" 6556, 6559, 6575, 6587, 6616, 6706, 6738, 6740, 6817, 7018, 7029, 7047 and 7092. Includes interpretive clarification.
	1.3.	Last	"A" 6526					According to Com. "A" 6532, 6556, 6569, 6575, 6587, 6616, 6628, 6740 and 7016.
	1.4.		"A" 3905			3.		According to Com. "A" 4179, 4449, 4473, 5671, 5740, 6232, 6349, 6719, 6871 and 7046.
	1.5.		"A" 5356			2.		According to Com. "A" 5471.
	1.5.1.		"A" 5356			2.		According to Com. "A" 5471, 5623, 6531, 6703 and 6705.
	1.5.2.		"A" 5631			1.		According to Com. "A" 5638, 6217, 6531, 6857, 6910, 6937 and 7114.
	1.5.3.		"A" 6740			1.
	1.5.4.		"A" 6858			1.		According to Com. "A" 6901 and 6907.
	1.5.5.		"A" 6937			2.		According to Com. "A" 6943 and 7054.
	1.5.6.		"A" 6993			2.		According to Com. "A" 7082.
	1.5.7.		"A" 7006			2.
	1.5.	last	"A" 6858			2.		According to Com. "A" 6965, 6993 and 7006.
	1.6.		"A" 3274	II	1.	1.5.		According to Com. "A" 3498.
	1.7.		"A" 3274	II	1.	1.6.
	1.7.1.		"A" 3274	II	1.	1.6.1.		According to Com. "A" 4405, 4449, 6349, 6719 and 7046.
	1.7.2.		"A" 3274	II	1.	1.6.2.		According to Com. "A" 3304, 4449, 6349 and 6719.
	1.8.		"A" 3498	sole	1.	1.8.		According to Com. “A” 4147, 6537 and 7003.
	1.9.		“A” 5380					According to Com. “A” 5449, 5516, 5600, 5654 and 5771. Includes interpretive clarification.
2.	2.1.		"A" 3274	II	2.	2.1.		According to Com. "A" 3498, 3597, 4716, 4815, 6288, 6763 and "B" 9186.