Resolution 100/2005

BOARD RESOLUTION NO. 100/2005
SUBJECT: MONETARY OPERATIONS MANAGEMENT – MODIFIES BOARD RESOLUTION NO. 047/98.

HAVING SEEN:
Law No. 1670 of October 31, 1995.
Board Resolution No. 047/98 of April 20, 1998, regarding the transfer and delegation of fiscal current accounts.
Board Resolution No. 128/2001 of December 13, 2001, which approves the Statute of the Central Bank of Bolivia.
The report from the Monetary Operations Management GOM-SOSP No. 015/2005 of August 8, 2005.
The report from the Legal Affairs Management SANO No. 181/2005 of August 12, 2005.

CONSIDERING:
That Law No. 1670 in its articles 24 and 29 subsection g), allows the Central Bank of Bolivia (BCB) to delegate the administration of fiscal accounts to authorized financial entities.
That Board Resolution No. 047/98 in its articles 6 and 7, determines precise and inflexible schedules for the receipt of information regarding movements in fiscal current account operations.
That the Report GOM-SOSP No. 015/2005 from the Monetary Operations Management recommends the need to modify articles 6 and 7 of Board Resolution No. 047/98, with the purpose of adjusting the schedules and technical procedures related to the receipt of information regarding movements in fiscal current account operations. Additionally, to update the references to Annexes 1 and 2, replacing them with the annexes currently in use. That the report from the Legal Affairs Management SANO No. 181/2005 considers that there is no legal impediment for the Board to consider the modification of Board Resolution No. 047/98, by virtue of the power conferred by article 54 subsection a) of Law No. 1670.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Modify articles 6 and 7 of Board Resolution No. 047/98 of April 20, 1998, in the following terms:

SAYS:
Article 6.- For the purposes of the application of articles 4 and 5, the Authorized Financial Entities (EFAs) must inform the BCB of account movements until 19:00 hours of each business day of operations, for their corresponding accounting registration according to Annex 1 of this Resolution.

SHOULD SAY:
“Article 6.- For the purposes of the application of articles 4 and 5 of this Resolution, the EFAs must inform the BCB of account movements, according to the schedules defined by External Circular issued by the General Management of the BCB, for their respective accounting registration according to the formats defined by the Issuing Entity, within the framework of the Service Contract for Delegated Administration.”

SAYS:
Article 7.- The EFAs that operate fiscal current accounts by delegated administration must make known to the BCB by 11:00 hours of the next business day following the date of operations, a detailed report of the balances of fiscal current accounts in the format indicated in Annex 2. This report on magnetic media must be sent by letter with authorized signatures of the EFA.

SHOULD SAY:
“Article 7.- The EFAs that operate fiscal current accounts by delegated administration must make known to the BCB a detailed report of the balances of fiscal current accounts, according to the schedules established by External Circular issued by General Management and in the format determined by the BCB, within the framework of the Service Contract for Delegated Administration. The EFAs must send this report via email files and a letter confirming these balances duly signed by their authorized signatories.”

Article 2.- This Resolution shall enter into force from the date of its approval.

Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, August 16, 2005

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Juan Antonio Morales A.

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Enrique Ackermann A. Fernando Paz B.

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José Luis Evia V. Jaime Apt B.