Regulatory Alerts2002-04-30 | Resolución 044/2002Added · Updated
Resolution 044/2002: Approves Transitional Portfolio Administration Regulations under Law 2297
The Central Bank of Bolivia approves a transitional portfolio administration regulation for Banco Mercantil S.A. regarding the forced sale of assets from the former Banco Boliviano Americano S.A. Borrowers with outstanding capital balances of $10,000 USD or less may receive a debt forgiveness of up to $5,000 USD if they pay 50% of the principal in a single cash payment by December 31, 2002. Reprogrammed loans are granted for up to eight years with a two-year grace period, and the Bank Mercantil is authorized to seek reimbursement from the General Treasury of the Nation for forgiven amounts via bonds.
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