Regulatory Alerts2010-05-04 | Resolución 059/2010Added · Updated
Resolution 059/2010
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 61,012 coins with a face value of Bs 12,200, specifically of the Bs 0.20 denomination. Director Rafael Boyán is designated to represent the Board at the monetization ceremony, while the Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 059/2010 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs 0.20 COINS
HAVING REVIEWED: The Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on the Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 047/2009 of April 14, 2009. The Coin Minting Contract SANO No. 078/2009 of May 19, 2009, and its Amending Addendum SANO No. 113/2009 of June 15, 2009, signed between the BCB and the Chilean Mint. The Report from the Monetary Operations Management STES No. 066/2010 of May 3, 2010. The Report from the Legal Affairs Management SANO No. 145/2010 of May 4, 2010.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting January 1, 1987.
That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises the exclusive and non-delegable function of issuing Bolivia's monetary unit, in the form of banknotes and metallic coins.
That in accordance with the Coin Minting Contract and its Amending Addendum, the Central Bank of Bolivia has received the fourteenth receipt of metallic monetary material from the Chilean Mint.
That it is the responsibility of the Board of Directors, according to Article 54, subsection m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins.
That Article 9 of the Regulation for the Issuance, Exchange, and Destruction of Monetary Material establishes that it is the faculty of the BCB Board of Directors to authorize the monetization of banknotes and coins.
//2. B.D. No. 059/2010
That the STES Report No. 066/2010 considers it necessary to monetize coins of the Bs 0.20 denomination and recommends that the BCB Board of Directors consider the monetization of the monetary material delivered to the vault by the supplier, the Chilean Mint.
That in the opinion of the Legal Affairs Management, according to SANO Report No. 145/2010, there is no legal impediment for the BCB Board of Directors, in accordance with its powers and competencies, to approve the monetization of Bs 0.20 coins.
THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Authorize the monetization of coins of the Bs 0.20 denomination according to the following detail:
DENOMINATION NUMBER OF PIECES VALUE IN Bs. 0.20 28,000 5,600.00 0.20 33,000 6,600.00 TOTAL 61,000 12,200.00
Article 2.- Designate Director Rafael Boyán to represent the Board of Directors in the act of monetization of the aforementioned material.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, May 4, 2010
Gabriel Loza Tellería
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Rolando Marín Ibáñez Ernesto Yáñez Aguilar Rafael Boyán Téllez
More like this from BCB
BCB published 7 documents in the last 30 days. We email you each new one the day it's published.