Resolution 113/2010

BOARD RESOLUTION NO. 113/2010
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – APPROVES AMENDMENT TO THE INTERNAL REGULATION FOR OPERATIONS THROUGH THE SUCRE.

HAVING SEEN:

The Law 1670 of October 31, 1995 of the Central Bank of Bolivia.
The Statute of the Central Bank of Bolivia approved by Board Resolution No. 128/2005 of October 21, 2005 and its modifications.
The Constitutive Treaty of the Regional Unitary Compensation System for Payments (SUCRE) signed on October 16, 2009.
Law No. 016 of May 24, 2010.
Board Resolution No. 103/2010 of September 14, 2010.
The note MEFP/VPSF/DGSF/N° 336/2010 of September 29, 2010 from the Ministry of Economy and Public Finance.
The Report from the International Operations Management BCB-GOI-INF-2010-12 of September 30, 2010.
The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2010-315 of October 1, 2010.

CONSIDERING:

That through Board Resolution No. 103/2010, the Internal Regulation for operations through the SUCRE was approved.

That the Ministry of Economy and Public Finance (MEFP) through note MEFP/VPSF/DGSF/N° 336/2010 considers that the collection of imports and payment of exports, whether from the public or private sector, channeled through the SUCRE, must be carried out in national currency.

That the Report from the International Operations Management BCB-GOI-INF-2010-12 recommends submitting the MEFP's criterion to the consideration of the BCB Board of Directors.

That the Report from the Legal Affairs Management BCB-GAL-SANO-INF-2010-315 states that there is no legal impediment for the BCB Board of Directors, in the exercise of its powers conferred by Law No. 1670 and the Statute of the Central Bank of Bolivia, to consider the modification to the Regulation for operations through the SUCRE.

That by virtue of what is provided by Law No. 1670 article 54, subsection o) and the Statute of the Central Bank of Bolivia in its article 11 numeral 29, the Board is authorized to approve, modify, and interpret the BCB regulations by two-thirds of the votes of all its members, without the need for any additional administrative act.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA,

RESOLVES:

Article 1.- Modify Article 7 (Form of payment) of the Internal Regulation for operations through the Regional Unitary Compensation System for Payments (SUCRE):

SAYS:

Collection for private sector imports
The collection for private sector imports channeled through the CCC will be carried out in Bolivianos or US dollars.

The BOA of the Bolivian private entity, through a form, will authorize the BCB to debit its current and reserve accounts in Bolivianos or US dollars, to make the payment abroad, citing all details of the operation.

In the case of debit in Bolivianos, the BOA will be exempted from its entry into the Bolsín, applying the official selling exchange rate of the date of the operation.

Collection for public sector imports
The collection for public sector imports channeled through the CCC will be carried out in Bolivianos or US dollars.

In the case of payment in US dollars, the Bolivian public entity must carry out the procedures with the Ministry of Economy and Public Finance for the allocation of the corresponding foreign exchange.

Payment for private sector exports
The BCB will credit the amount of the payment received from abroad, in the BOA's account, in US dollars or in Bolivianos at the buying exchange rate of the date, according to the BOA's request in the corresponding form.

Payment for public sector exports
The BCB will credit the amount of the payment received from abroad, in the account of the Bolivian public entity, in US dollars or in Bolivianos at the buying exchange rate of the date, according to the request of said public entity in the corresponding form.

SHOULD SAY:

“Collection for private sector imports
The collection for private sector imports channeled through the CCC will be carried out in Bolivianos.

The BOA of the Bolivian private entity, through a form, will authorize the BCB to debit its current and reserve accounts in Bolivianos, to make the payment abroad, citing all details of the operation.

For these operations, the BOA will be exempted from its entry into the Bolsín, applying the official selling exchange rate of the date of the operation.

Collection for public sector imports
The collection for public sector imports channeled through the CCC will be carried out in Bolivianos, for which the public entity will authorize the corresponding debit from an account in national currency.

Payment for private sector exports
The BCB will credit the amount of the payment received from abroad, in the BOA's account, in Bolivianos at the buying exchange rate of the date, according to the BOA's request in the corresponding form.

Payment for public sector exports
The BCB will credit the amount of the payment received from abroad, in the account of the Bolivian public entity, in Bolivianos at the buying exchange rate of the date, according to the request of said public entity in the corresponding form.”

Article 2.- The modifications to the Internal Regulation for operations through the Regional Unitary Compensation System for Payments will enter into force on the date of this resolution.

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

La Paz, October 5, 2010

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Gabriel Loza Tellería

_________________________ _________________________ Gustavo Blacutt Alcalá Hugo Dorado Araníbar

_________________________ _________________________ Rolando Marín Ibáñez Ernesto Yáñez Aguilar

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Rafael Boyán Téllez