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2001-05-29 | Resolución 044/2001

Added 2026-07-27 · Updated 2026-08-15

Resolution 044/2001: Approval of Maximum Limit for Foreign Investments by Insurance Companies

The Board of Directors of the Central Bank of Bolivia sets the maximum limit for foreign investments by insurance companies at ten percent (10%) of their investment resources for the year 2001. The decision is communicated to the Financial Prudential Standards Committee (CONFIP) to authorize specific limits within this maximum. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.

Bolivia

Banco Central de Bolivia

BOARD RESOLUTION NO. 044/2001

SUBJECT: ECONOMIC POLICY ADVISORY – APPROVAL OF MAXIMUM LIMIT FOR FOREIGN INVESTMENTS BY INSURANCE COMPANIES.

VIEWING:

Law No. 1670 of October 31, 1995.

Law No. 1883 of June 25, 1998.

Supreme Decree 25201 of October 16, 1998.

Report from the Legal Affairs Management SANO No. 096/2001 of May 14, 2001.

Report from the Economic Policy Advisory APEC-INEP No. 013/2001 of May 16, 2001.

Report from the Legal Affairs Management SANO No. 102/2001 of May 18, 2001.

CONSIDERING:

That the Insurance Law No. 1883 in its Article 35 establishes that the Central Bank of Bolivia will periodically set the maximum limit for investments by Insurance Companies in securities of issuers constituted abroad, which may not exceed fifty percent (50%) of the investment resources.

That Supreme Decree No. 25201 in its Article 18, while confirming the authority conferred on the Issuing Entity by Law No. 1883, determines that the Board of Directors of the BCB must annually set the maximum limit for foreign investments by Insurance Companies through an express Resolution, with the authority to establish limits within these maximums being vested in the Financial Prudential Standards Committee (CONFIP).

That the Economic Policy Advisory in its Report APEC-INEP No. 013/2001 recommends maintaining the percentage of ten percent (10%) during the 2001 management period as the maximum limit for foreign investments for Insurance Companies.

//2. R.D. No. 044/2001

That the Report from the Legal Affairs Management SANO No. 102/2001 states that the Board of Directors of the Bank has the authority to define annually the maximum limits for foreign investments by Insurance Companies, in accordance with Article 35 of Law No. 1883, Article 18 of Supreme Decree 25201, and Article 54 item a) of Law 1670.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Set the maximum limit for foreign investment for Insurance Companies at ten percent (10%) of their investment resources during the year 2001.

Article 2.- Communicate the aforementioned decision to CONFIP so that it may authorize limits within the maximum established by this Resolution.

Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, May 29, 2001

Juan Antonio Morales A.

Armando Pinell S. Jaime Ponce G. Juan Medinaceli V.