Regulatory Alerts1998-06-30 | Resolución 062/98Added · Updated
Resolution 062/98
The Board of Directors of the Central Bank of Bolivia extends the repayment deadline for a $20,000,000 liquidity credit granted to Banco de La Paz S.A. until July 10, 1998. This extension applies from the maturity date of the previous renewal established by Resolution 056/98. All other conditions set forth in Resolutions 019/98 and 056/98, as well as the respective loan and renewal contracts, remain unchanged and in full force.
BOARD RESOLUTION NO. 062/98 SUBJECT: FINANCIAL SYSTEM - EXTENSION OF DEADLINE UNTIL JULY 10, 1998 FOR THE REPAYMENT OF THE LIQUIDITY CREDIT GRANTED TO BANCO DE LA PAZ S.A. FOR US$ 20,000,000.
HAVING SEEN: Law No. 1670 of the Central Bank of Bolivia dated October 31, 1995. Resolutions of the Board of Directors of the Central Bank of Bolivia No. 019/98 and No. 056/98 dated February 27 and May 27, 1998, respectively. Note G.G.E. 115/98 from Banco de La Paz S.A., dated June 29, 1998.
CONSIDERING: That by Board Resolution No. 019/98 of February 27, 1998, the Central Bank of Bolivia granted a liquidity credit to Banco de La Paz S.A. for US$ 20,000,000, with a maturity term of 90 days.
That the aforementioned credit was renewed for 30 days, in accordance with Board Resolution No. 056/98 of May 27, 1998, until June 28 of the current year.
That Banco de La Paz S.A., through note G.G.E. 115/98 of June 29, 1998, requests an additional deadline to cancel the obligation and indicates that within the coming days it will sign the contracts for the sale of its majority share package to the CREDICORP financial group, which will enable it to have the necessary resources for the stated purpose.
That Article 54, subsection j) of Law 1670 of October 31, 1995, empowers the Board of Directors to establish the terms and conditions of the credits granted by the Central Bank of Bolivia.
THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Extend until Friday, July 10, 1998, the deadline for the repayment of the liquidity credit for US$ 20,000,000 granted to Banco de La Paz S.A. by Resolution No. 019/98, starting from the maturity date of the renewal ordered by Board Resolution No. 056/98.
Article 2.- All other conditions established in Board Resolutions 019/98 and 056/98, as well as in the respective loan and renewal contracts, remain subsisting and unaltered.
Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.
La Paz, June 30, 1998
Juan Antonio Morales A.
Armando Pinell S. Jaime Ponce G.
Fernando Campero P.
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