Regulatory Alerts1997-06-10 | Resolución 116/97Added · Updated
Resolution 116/97 - Minimum Legal Capital for Banks, Second-Tier Financial Entities, and Financial Service Companies
Resolution 116/97 establishes minimum legal capital requirements of 5,500,000 Special Drawing Rights (SDRs) for banks, 4,400,000 SDRs for second-tier financial entities, and 550,000 SDRs for specific financial service companies. Existing banking entities must comply by December 31, 1998, while second-tier entities and financial service companies have until December 31, 1999. New financial entities are required to deposit the full minimum capital in cash into a special account at the Central Bank of Bolivia prior to obtaining their operating license. The resolution became effective on July 1, 1997.