Resolution 064/2006

BOARD RESOLUTION NO. 064/2006
SUBJECT: BOARD - CLAIM FOR EXTRA-JUDICIAL CREDITS.

VISTOS:
Law No. 1670 of October 31, 1995.
Law No. 1488 of April 14, 1993.
Law No. 1178 of July 20, 1990.
Supreme Decree No. 23881 dated October 11, 1994.
Internal Communication from the Legal Affairs Management SAJU No. 401/2006 of May 30, 2006.

CONSIDERING:
That in accordance with Article 54, paragraph a) of Law No. 1670, the Board has the authority to issue regulations and adopt general decisions necessary for the Central Bank of Bolivia (BCB) to fulfill the functions, competencies, and powers assigned to it by the Law.

That in compliance with the Banking and Financial Entities Law No. 1488 and Supreme Decree No. 23881, the Central Bank of Bolivia, with express authorization from its Board, subrogated the deposits of Banks Sur, Cochabamba, and BIDESA as a consequence of their forced liquidation. These subrogations have the status of extra-judicial credits that must be paid by the Liquidating Agencies of said banks before the formation of the liquidation mass.

That the Liquidating Agencies are delegated by the Superintendence of Banks and Financial Entities, in accordance with Article 122 of Law No. 1488.

That Article 3 of Supreme Decree No. 23881 provides that non-compliance with the provisions of said norm will give rise to responsibilities for public service established in Article 28 of Law No. 1178 on Government Administration and Control.

That the Internal Communication from the Legal Affairs Management concludes that there is no obstacle to making the claim for payment of the extra-judicial credits corresponding to the forced liquidations of Banks Sur, Cochabamba, and BIDESA.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Authorize the Acting President and the Acting General Manager to reiterate, in writing, the claim for payment of extra-judicial credits made by the Issuing Entity before the Superintendent of Banks and Financial Entities, within the framework of Law No. 1488 and S.D. 23881, within three business days of receipt of the respective note, based on the amounts disbursed and established by the Financial Entities Management.

Article 2.- Instruct, without further procedure, the Legal Affairs and Financial Entities Departments to send background information to the Comptroller General of the Republic requesting a special audit of the Liquidating Agencies in case of non-compliance with the payment of extra-judicial credits within the deadline fixed for this purpose.

La Paz, August 22, 2006.

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Raúl Garrón Claure

____________________________ __________________________ Enrique Ackermann Arguedas Hugo Dorado Aranibar

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Jorge Casso Echart Hugo Argote Argote

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Gustavo Blacutt Alcalá