Regulatory Alerts2010-06-01 | Resolución 064/2010Added · Updated
Resolution 064/2010
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 55,000,000 coins of the Bs0.10 denomination, totaling a face value of Bs5,500,000. Director Hugo Dorado 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. 064/2010
SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs0.10 COINS
HAVING VIEWED:
Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency.
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. 078/2010 of May 25, 2010.
The Report from the Legal Affairs Management SANO No. 169/2010 of May 28, 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 from January 1, 1987.
That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and non-delegably the function of issuing the monetary unit of Bolivia, 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 fifteenth receipt of metallic monetary material from the Chilean Mint.
That it is the attribution of the Board of Directors according to Article 54, paragraph 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. 064/2010
That the STES Report No. 078/2010 considers the monetization of Bs0.10 coins necessary and recommends that the BCB Board of Directors consider the monetization of the monetary material delivered to the vault by the provider, the Chilean Mint.
That in the opinion of the Legal Affairs Management according to SANO Report No. 169/2010, there is no legal impediment for the BCB Board of Directors, in attention to its faculties and competencies, to approve the monetization of Bs0.10 coins.
THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Authorize the monetization of Bs0.10 coins according to the following detail:
DENOMINATION NUMBER OF PIECES VALUE IN Bs. 0.10 55,000,000 5,500,000 TOTAL 55,000,000 5,500,000
Article 2.- Designate Director Hugo Dorado, to represent the Board of Directors in the act of monetization of the cited material.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, June 1, 2010
Gabriel Loza Tellería
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Rolando Marín Ibáñez Ernesto Yáñez Aguilar Rafael Boyán Téllez
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