Regulatory Alerts2003-07-08 | Resolución 076/2003Added · Updated
Resolution 076/2003 Approving Modifications to the Foreign Exchange Position Regulations of the Financial System
The Board of Directors of the Central Bank of Bolivia amends the Foreign Exchange Position Regulations to allow financial institutions to increase their foreign currency short-selling limits by incorporating a percentage of their loan loss provisions into the calculation base. Specifically, Articles 2 and 4 are modified to define loan loss provisions and adjust the 20% and 80% thresholds for over-sold and over-bought positions to include these provisions. A transitional schedule is established, phasing down the applicable percentage of provisions from 100% to 0% between July 2003 and December 2005. These modifications enter into force on July 15, 2003.
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