Regulatory Alerts2005-05-31 | Resolucion 077/2005Added · Updated
Resolution 077/2005
The Board of Directors of the Central Bank of Bolivia amends Article 23 of the Internal Regulations for Operations under the ALADI Reciprocal Payments and Credits Agreement to replace the previous one-year maximum instrument term with a tiered schedule based on long-term credit risk ratings. Authorized institutions with ratings of AAA through A- are permitted to issue or guarantee instruments with maximum terms of 5, 3, 2, and 1 year, respectively, while those rated BBB+ or lower are prohibited from operating in the agreement until they achieve at least an A- rating. These credit risk ratings are updated by the Central Bank of Bolivia whenever rating agencies issue new assessments for the authorized institutions. The modification enters into force on July 1, 2005.
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