Regulatory Alerts1998-02-27 | Resolución 020/98Added · Updated
Resolution 020/98
The Board of Directors of the Central Bank of Bolivia approves the partial subrogation of deposits exceeding $5,000 held at BIDESA in liquidation for accounts established before October 31, 1997. The Central Bank acquires depositors' rights by issuing Deposit Return Certificates (CDDs) structured in ascending tiers based on deposit amounts, with maturity periods ranging from two to four and a half years. Deposits exceeding $200,000 receive partial payment via CDDs, while the remaining 50% of the excess amount is retained as a claim against the liquidation process. Depositors must formally assign their rights to the Liquidator to receive these instruments, and pledged deposits are only subrogated after the underlying credit obligations are fully settled.
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