Regulatory Alerts1998-09-22 | Resolución 092/98Added · Updated
Resolution 092/98 Authorizing Early Redemption of Time Deposits for Capitalization or Subordinated Debt
This resolution authorizes banking entities to accept the early redemption of time deposits held by shareholders or third parties, provided the sole purpose is to increase the entity's capital or create subordinated debt. It mandates that such redemptions be reported to the BCB's Financial System Management within 48 hours, accompanied by notarized subscription contracts and depositant request letters, to cancel the deposits in official records. Additionally, it amends the Legal Reserve Regulation to exempt these specific capitalization redemptions from the sanctions previously applicable to early withdrawals.
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