Regulatory Alerts1999-11-23 | Resolución 101/99Added · Updated
Resolution 101/99 Approving the Portfolio Administration and Asset Sale Regulation for Banco Mercantil S.A.
The Board of Directors of the Central Bank of Bolivia approves the Portfolio Administration and Asset Sale Regulation corresponding to the administration mandate granted to Banco Mercantil S.A. This regulation becomes an integral and inseparable part of the Administration Mandate Contract between the Central Bank and the bank. The Presidency and General Management are tasked with executing this resolution.
BOARD RESOLUTION NO. 101/99 SUBJECT: FINANCIAL ENTITIES MANAGEMENT – APPROVES PORTFOLIO ADMINISTRATION AND ASSET SALE REGULATION, CORRESPONDING TO THE ADMINISTRATION MANDATE GRANTED BY THE BCB TO BANCO MERCANTIL S.A.
SEEN: Law 1670 of October 31, 1995. Supreme Resolution No. 218899 of October 15, 1999 BCB Board Resolution No. 093/99 of October 22, 1999. BCB Presidency Adjudication Resolution No. 09/99 of November 5, 1999. Financial Entities Management Report G.E.F. No. 192/99 of November 22, 1999. Legal Affairs Management Note GAL No. 227/99 of November 22, 1999.
CONSIDERING: That Law 1670 and Supreme Resolution No. 218899 confer powers on the Board of Directors of the Central Bank of Bolivia to authorize, through express Resolution, the administration and sale operations of assets received in payment in kind, resulting from financial support granted for the strengthening, intervention, or liquidation of financial entities.
//2. R.D. No. 101/99 That in accordance with the procedure established by Board Resolution No. 093/99, which approves the Terms of Reference of the Direct Invitation No. 001/99 for the administration mandate of the assets received in payment in kind from the BBA, the BCB awarded the service to Banco Mercantil S.A. through BCB Presidency Resolution No. 09/99 of November 5, 1999.
That Chapter II, numeral 3, of said Terms of Reference establishes as an obligation of the winning entity the submission, within a period of 15 calendar days from the date of adjudication, of a "Portfolio Administration and Asset Sale Regulation" for approval by the BCB.
That Banco Mercantil S.A. has submitted the respective draft Regulation for consideration by the BCB.
That the Financial Entities Management, in its Report G.E.F. No. 192/99, recommends the approval of said Regulation.
That in the opinion of the Legal Affairs Management, the operations and procedures foreseen in the aforementioned Regulation are complementary to those established in the Administration Mandate Contract, and that its approval corresponds to the Board since it involves the delegation of decisions that belong to the Highest Institutional Authority.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Approve the Portfolio Administration and Asset Sale Regulation, corresponding to the Administration Mandate granted by the BCB to Banco Mercantil S.A., which, as an annex, forms part of this Resolution. The aforementioned Regulation shall constitute an integral and inseparable part of the Administration Mandate Contract to be signed by the BCB with Banco Mercantil S.A.
//3. R.D. No. 101/99 Article 2.- The Presidency and General Management are tasked with executing the present Resolution.
La Paz, November 23, 1999
Juan Antonio Morales A.
Armando Pinell S.
Jaime Ponce G.
Juan Medinaceli
Fernando Campero P.
Armando Méndez M.
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