2018 - YEAR OF THE CENTENARY OF THE UNIVERSITY REFORM

COMMUNICATION “A” 6532
02/07/2018

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 946

Minimum cash. Adjustments.

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

“1. Replace, with effect from 2.7.18, points 1.3.1., 1.3.2.1., 1.3.3.1., 1.3.4.1., 1.3.5., 1.3.7.1., heading a) of point 1.3.9., points 1.3.11.1. and 1.3.13. of the rules on “Minimum cash” with the following:

1.3.1. Demand deposits and sight accounts opened in cooperative credit banks.	26	24
1.3.2.1. In pesos.	26	24
1.3.3.1. In pesos.	26	24
1.3.4.1. In pesos.	26	24
1.3.5. Unused balances of formalized overdrafts in current accounts.	26	24
1.3.7.1. In pesos.
i) Up to 29 days.	20	19
ii) From 30 to 59 days.	16	15
iii) From 60 to 89 days.	8	7
iv) From 90 to 179 days.	1	0
v) From 180 days or more.	0	0
1.3.9. Debt securities (including negotiable obligations), according to their residual term:
a) In pesos.
i) Up to 29 days.	20	20
ii) From 30 to 59 days.	16	16
iii) From 60 to 89 days.	8	8

iv) From 90 to 179 days.
1
1 v) From 180 days or more.
0
0
1.3.11.1. In pesos.
19
19

1.3.13. Term investments instrumented in non-transferable registered certificates, in pesos, corresponding to public sector holders that have the right to exercise the early cancellation option within a period of less than 30 days counted from their constitution. 22 21”

2. Replace, with effect from 18.7.18, point 2. of Communication “A” 6526 with the following:

“1.3.1. Deposits in current accounts and demand accounts opened in cooperative credit unions. 28 26

1.3.2.1. In pesos.
28
26
1.3.3.1. In pesos.
28
26
1.3.4.1. In pesos.
28
26

1.3.5. Unused balances of formalized current account advances. 28 26

1.3.7.1. In pesos.
i) Up to 29 days.
22
21 ii) From 30 to 59 days.
18
17 iii) From 60 to 89 days.
9
8 iv) From 90 to 179 days.
1
0 v) From 180 days or more.
0
0

1.3.9. Debt securities (including negotiable obligations), according to their residual term:

a) In pesos. i) Up to 29 days.
22
22 ii) From 30 to 59 days.
18
18 iii) From 60 to 89 days.
9
9 iv) From 90 to 179 days.
1
1 v) From 180 days or more.
0
0
1.3.11.1. In pesos.
21
21

1.3.13. Term investments instrumented in certificates
non-transferable registered, in pesos, correspon- ding to public sector holders that have the right to exercise the early cancellation option within a period of less than 30 days counted from its constitution. 24 23”

3. To provide that the increase in the requirement resulting from applying the minimum cash reserve rates in pesos –for the period and daily– provided in point 2. above may be integrated with National Treasury Bonds in pesos at a fixed rate maturing in November 2020 valued at market price that are deposited in Subaccount 60 minimum cash reserve enabled in the “Central de Registro y Liquidación de Pasivos Públicos y Fideicomisos Financieros - CRyL”, which will be excluded from the limits provided in the rules on “Credit risk apportionment” up to the amount applied as integration.

The increase in the minimum cash reserve requirement provided in point 1. of this Resolution may not be integrated with the bonds indicated above.”

Likewise, we inform you that we will subsequently send you the pages that, replacing those previously provided, should be incorporated into the reference rules.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Agustín Torcassi
Principal Issuance Manager and
Aplicaciones Normativas
Subgerente General de Normas