Regulatory Alerts2011-07-12 | Resolución 090/2011Added · Updated
Resolution 090/2011: Regulation of Incentives for the Collection of Credit Portfolio Owned by the Central Bank of Bolivia
The Board of Directors of the Central Bank of Bolivia approved the Regulation of Incentives for the Collection of Credit Portfolio Owned by the Central Bank of Bolivia, effective from July 18, 2011, to December 31, 2012. The regulation allows debtors and guarantors of specific portfolios, including those from the former Banco Boliviano Americano and other banks, to obtain forgiveness of current interest and 100% forgiveness of penal interest, judicial expenses, and other costs upon full cash payment, with forgiveness percentages ranging from 70% to 95% based on capital amounts. The resolution also mandates that provisions from Resolution 072/2008 regarding the former BBA portfolio remain applicable where relevant and requires the Presidency and General Management to execute the resolution.
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