Regulatory Alerts2002-04-09 | Resolución 036/2002Added · Updated
Resolution 036/2002 - Creation of the Restricted Foreign Currency Deposit Service at the Central Bank of Bolivia
The Board of Directors of the Central Bank of Bolivia (BCB) establishes a Restricted Foreign Currency Deposit Service (SRD-ME) for monetary regulation purposes, effective April 10, 2002. The service allows banks to place deposits up to $50 million for a maximum term of seven days, with interest rates determined through a competitive auction mechanism managed by the Open Market Operations Committee (COMA). Access is restricted to entities holding foreign currency reserve requirements above a COMA-determined threshold, and these funds cannot be used to meet legal reserve requirements or guarantee other operations. The BCB waives transfer commissions for funds originating from abroad, and upon maturity, principal and interest are credited to the bank's reserve account or an external account if requested.
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