Regulatory Alerts2005-02-22 | Resolución 031/2005Added · Updated
Resolution 031/2005
The Board of Directors of the Central Bank of Bolivia extends the validity of Chapter V of the Transitional Portfolio Administration Regulation until December 31, 2006. This extension applies to the portfolio of Financial Entities in Liquidation and the former INALPRE, aligning with the prorogation of Article 17 of Chapter IV of Law No. 2297 established by Supreme Decree No. 27969. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 031/2005
SUBJECT: FINANCIAL ENTITIES MANAGEMENT - EXTENDS THE VALIDITY OF CHAPTER V OF THE TRANSITIONAL PORTFOLIO ADMINISTRATION REGULATION UNDER LAW NO. 2297.
HAVING REVIEWED:
Law No. 1670 of October 31, 1995.
Law No. 2297 of December 20, 2001, on Strengthening Financial Norms and Supervision.
Supreme Decree No. 26575 of April 3, 2002.
Supreme Decree No. 26865 of December 14, 2002.
Supreme Decree No. 27165 of September 15, 2003.
Supreme Decree No. 27969 of January 11, 2005.
Board Resolution No. 048/2002 of May 14, 2002.
The technical-legal report from the Financial Entities Management and Legal Affairs Departments, GEF.SRRA No. 38/2005 and SAJU No. 33/2005, dated February 17, 2005.
CONSIDERING:
That Article 17 of Chapter IV of Law No. 2297 authorized the extension of the forgiveness benefit to the agricultural sector for credits greater than $us 5,000.
That in compliance with the aforementioned norm, the Board of Directors of the BCB issued Resolution No. 048/2002 approving the BCB Transitional Portfolio Administration Regulation under Law No. 2297, for the portfolio of Financial Entities in Liquidation and the former INALPRE.
That according to Supreme Decree No. 27165, the validity of Chapter IV, Article 17 of Law No. 2297 expired on December 31, 2004.
That Supreme Decree No. 27969 provides in its Sole Article, paragraph I, the extension until December 31, 2006, of the validity of Chapter IV, Article 17, of Law No. 2297.
That the Financial Entities Management and Legal Affairs Management, in report GEF.SRRA No. 38/2005 - SAJU No. 33/2005, indicate that the extension of Chapter IV, Article 17 of Law No. 2297 provided by Supreme Decree No. 27969, promulgated on January 11 of the current year, under the authority of Article 54, clause j) of Law No. 1670, must be applied by the BCB through a Board Resolution.
THEREFORE:
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Extend, within the framework of Law No. 2297 and Supreme Decree No. 27969, the validity of the provision included in Chapter V of the Transitional Portfolio Administration Regulation of the Central Bank of Bolivia, approved by Board Resolution No. 048/2002, until December 31, 2006.
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, February 22, 2005
Juan Antonio Morales A.
Juan Medinaceli V. Enrique Ackermann A.
Fernando Paz B. José Luis Evia V. Jaime Apt B.
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