Regulatory Alerts2008-03-18 | Resolución 030/2008Added · Updated
Resolution 030/2008
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 20,000,000 banknotes from the "H" series with a denomination of 50 Bolivianos, representing a total value of 1,000,000,000 Bolivianos. The resolution designates Directors Rolando Marín and Osvaldo Nina to represent the Board during the monetization act and charges the Presidency and General Management with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 030/2008 SUBJECT: MONETARY OPERATIONS MANAGEMENT - AUTHORIZES MONETIZATION OF "H" SERIES BANKNOTES.
HAVING VIEWED: Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 108/2001 of October 30, 2001. The Banknote Supply Contract SANO No. 113/2007 of September 10, 2007, signed between the BCB and the company Francois Charles Oberthur Fiduciaire. The Report from the Monetary Operations Management STES No. 044/2008 of March 17, 2008. The Report from the Legal Affairs Management SANO No. 062/2008 of March 18, 2008.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the monetary system of the Republic, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987.
That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and inalienably the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins.
That in accordance with contract SANO No. 113/2007, the Central Bank of Bolivia has received from the company Francois Charles Oberthur Fiduciaire the eighth shipment of banknotes series "H" of the Bs50.- denomination.
That it is an attribution of the Board according to Article 54 subsection m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes.
That Article 9 of the Regulation for the Issuance, Exchange, and Destruction of Monetary Material establishes that it is the faculty of the Board of the BCB to authorize the monetization of banknotes.
That Report STES No. 044/2008 considers the monetization of the banknotes of series "H" of the Bs50.- denomination necessary and recommends that the Board of the BCB consider the monetization of the monetary material delivered in vaults by the supplier company Francois Charles Oberthur Fiduciaire.
That in the opinion of the Legal Affairs Management according to Report SANO No. 062/2008, there is no legal impediment for the Board of the BCB, in attention to its faculties and competencies, to approve the monetization of banknotes in the Bs50.- denomination.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of banknotes of series "H" of the Bs50.- denomination, according to the following detail:
DENOMINATION NUMBER OF PIECES VALUE IN Bs. 50 20,000,000 1,000,000,000 TOTAL 20,000,000 1,000,000,000
Article 2.- Designate Directors Rolando Marín and Osvaldo Nina to represent the Board in the act of monetization of the cited material.
Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.
La Paz, March 18, 2008
Raúl Garrón Claure
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Rolando Marín Ibáñez Ernesto Yáñez Aguilar
Osvaldo Nina Baltazar
More like this from BCB
BCB published 7 documents in the last 30 days. We email you each new one the day it's published.