Regulatory Alerts2004-07-21 | Resolución 113/2004Added · Updated
Resolution 113/2004
The Board of Directors of the Central Bank of Bolivia amends the fee schedule to impose a commission of 3.5 basis points (0.035%) on the net amount of foreign currency banknote withdrawals made by financial institutions from their accounts at the Central Bank. This fee applies to withdrawals net of foreign currency deposits made since the resolution's effective date of August 16, 2004, while maintaining a fixed fee of Bs800 for other foreign currency services.
BOARD RESOLUTION NO. 113/2004 SUBJECT: ECONOMIC POLICY ADVISORY – INCORPORATES INTO THE FEE SCHEDULE A COMMISSION FOR FOREIGN CURRENCY BANKNOTE TRANSACTIONS.
HAVING REGARD TO: Law No. 1670 of October 31, 1995. Board Resolution No. 134/2003 of November 18, 2003, which approves the Fee Schedule and Other Revenues and the Fine Schedule for Management 2004. The Report from the Economic Policy Advisory Office APEC-INEP No. 030/2004 of July 6, 2004. The Report from the Legal Affairs Management SANO No. 156/2004 of July 6, 2004.
CONSIDERING: That in accordance with Article 54, subsection n) of Law No. 1670, it is the responsibility of the Board of Directors to formulate policies related to the internal management of the Central Bank of Bolivia (BCB), supervising their execution.
That the Economic Policy Advisory Office, in Report APEC-INEP No. 030/2004, points out the costs and risks associated with the importation of foreign currency banknotes.
That the commissions charged by the BCB for the provision of banking and financial services are intended to cover their respective operating costs.
That the Legal Affairs Management, through Report SANO No. 156/2004, establishes that the service commission referred to in the draft Resolution does not contravene the current legal framework; in this sense, it corresponds to the Board of Directors of the Issuing Entity, in its capacity as the highest authority of the Institution, to consider the approval of said draft.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the modification of the fee schedule, incorporating the collection of a commission of 3.5 basis points (0.035%) on the amount of net withdrawals in foreign currency banknotes that financial entities make from their accounts in BCB vaults.
The net withdrawal refers to the withdrawal of banknotes from BCB vaults carried out by a financial entity, after deducting the amount of foreign currency banknotes that the same entity had deposited in said vaults from the effective date of this Resolution.
Article 2.- The fixed commission of Bs800.- established in section "A. FEES, Item 6, subsection b) Foreign Currency from the first time" of the Annex to Board Resolution No. 134/2003 of November 18, 2003, is maintained.
Article 3.- The collection of the commission will take effect from August 16, 2004.
Article 4.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, August 3, 2004
Juan Antonio Morales A.
Juan Medinaceli V. Enrique Ackermann A.
José Luis Evia V. Fernando Paz B.
More like this from BCB
BCB published 7 documents in the last 30 days. We email you each new one the day it's published.