Minimum Cash Requirements: Adjustments

2018 - YEAR OF THE CENTENARY OF THE UNIVERSITY REFORM

COMMUNICATION “A” 6569
14/09/2018

TO THE FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 953

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:

“- Increase, with effect from 19.9.18, for financial institutions whose deposits from the non-financial private sector in pesos at the close of the month of July 2018 are for an amount greater than or equal to 1% of the total of those deposits in the financial system according to the list that the Central Bank will publish, by 5 percentage points the minimum cash requirement rates in pesos provided for by points 1.3.1., 1.3.2.1., 1.3.3.1., 1.3.4.1. and 1.3.5., subparagraphs i) and ii) of point 1.3.7.1., subparagraphs i) and ii) of subsection a) of point 1.3.9. and points 1.3.11.1. and 1.3.13. of the rules on “Minimum cash”.

The increase in the requirement –for the period and daily– resulting from applying in each position the minimum cash rates in pesos in effect from 19.9.18 –with respect to those corresponding to 18.9.18– on the items referred to in subparagraphs i) and ii) of point 1.3.7.1., subparagraphs i) and ii) of subsection a) of point 1.3.9. and points 1.3.11.1. and 1.3.13. of the rules on “Minimum cash” may be integrated with both pesos and BCRA Liquidity Bills (LELIQ) and/or BCRA Notes (NOBAC), valued at market prices, that are deposited in Subaccount 60 minimum cash enabled in the “Central Registry and Settlement of Public Liabilities and Financial Trusts - CRyL”.

The increase in the requirement –for the period and daily– on the other items subject to reserve requirement must be integrated only in pesos.”

Likewise, we inform you that we will subsequently send you the sheets that, in replacement of those opportunely provided, will need to be incorporated into the rules of the reference.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications
Agustín Torcassi
General Deputy Manager of Rules