Resolution 089/97

RESOLUTION OF THE BOARD OF DIRECTORS NO. 089/97

SUBJECT: ACCOUNTING - INTERPRETATION OF ARTICLE 25 OF THE REGULATIONS OF THE CHECK CLEARING CHAMBER.

HAVING SEEN:

Law No. 1670 of October 31, 1995.

Board of Directors Resolution No. 046/95.

Report from the Accounting Management Department No. G.CON.I. 079/97 of February 24, 1997.

Report from the Legal Affairs Management Department S-JIN No. 169/97 of February 24, 1997.

CONSIDERING:

That by Resolution No. 046/95 of May 5, 1995, the Regulations for the operation of the Check Clearing Chamber were approved.

That due to a transcription error, Article 25 of said Regulations states that the commission to be charged to the banks participating in the Chamber is 1.16 per thousand instead of 1/16 per thousand.

That the aforementioned error did not modify the intention of the Bank, which from the beginning charged the commission of 1/16‰.

That it is the attribution of the Board of Directors to interpret its decisions and the regulations it issues.

Therefore,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

//2. R.D. No. 089/97

Article 1.- Amend the first paragraph of Article 25 of Board of Directors Resolution No. 046/95, in the following terms.

SAYS:

Article 25.- The Central Bank of Bolivia [charges a commission of] o/oo) on the sum of checks presented in the first session of the Chambers. These commissions must be paid by the banks until the 15th day of the following month.

SHOULD SAY:

"Article 25.- The Central Bank of Bolivia [charges a commission of] avos por mil) on the sum of checks presented in the first session of the Chambers. These commissions must be paid by the banks until the 15th day of the following month."

Article 2.- The Presidency and the General Management are charged with the compliance of this Resolution.

4.III.97

____________________ Juan Antonio Morales A.

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Armando Pinell S. Jaime Ponce G. Juan Medinacelli V.

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Fernando Campero P. Edgar Millares A.