Regulatory Alerts1998-05-26 | Resolución 056/98Added · Updated
Resolution 056/98
The Board of Directors of the Central Bank of Bolivia extends the liquidity credit granted to Banco de La Paz S.A. for an additional thirty days. The bank's foreign currency current account at the Central Bank is debited for interest accrued through May 28, 1998. All other terms and conditions from the original loan agreement dated February 27, 1998, remain unchanged, and the President of the Central Bank is authorized to sign the renewal contract.
BOARD RESOLUTION NO. 056/98 SUBJECT: FINANCIAL SYSTEM - AUTHORIZES RENEWAL OF THE LIQUIDITY CREDIT GRANTED TO BANCO DE LA PAZ S.A. VIA BOARD RESOLUTION NO. 019/98 OF THE BCB.
HAVING VIEWED: Law No. 1670 of the BCB of October 31, 1995. Board Resolution No. 148/95 of November 23, 1995. The Regulation to Address Temporary Liquidity Needs of the Financial System, approved via Board Resolution No. 025/94 of February 17, 1994. Board Resolution No. 019/98 of February 27, 1998. Note from Banco de La Paz S.A. GG:E:082/98 of May 27, 1998. Minutes No. 20/98 of the Financial System Analysis Committee (COASIF) dated May 27, 1998.
CONSIDERING: That Banco de La Paz S.A., via note No. GG:E:082/98 of May 27, 1998, has formally requested the renewal of the liquidity credit for $us.20,000,000 granted to it by the Central Bank of Bolivia via its Board Resolution No. 019/98 of February 27, 1998.
That in Minutes No. 20/98 dated May 27, 1998, the favorable opinion of the Financial System Analysis Committee (COASIF) appears for the renewal of said credit for thirty days.
THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Renew for thirty days the liquidity credit granted to Banco de La Paz S.A. via Board Resolution of the BCB No. 019/98 of February 27, 1998.
Article 2.- The Administration shall proceed to debit the interest due as of May 28, 1998, from the foreign currency current account that Banco de La Paz S.A. maintains at the BCB.
Article 3.- All other conditions established in Board Resolution No. 019/98 and in the loan contract of February 27, 1998, remain in force and unchanged.
Article 4.- Authorize the President of the BCB to sign the liquidity credit renewal contract with Banco de La Paz S.A.
Article 5.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.
La Paz, May 27, 1998
Juan Medinaceli V.
Armando Pinell S. Jaime Ponce G. .
Fernando Campero P. .
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