Regulatory Alerts2011-09-27 | Resolución 121/2011Added · Updated
Resolution 121/2011 Approving the Payment Services Regulation
The Board of Directors of the Central Bank of Bolivia approves the Payment Services Regulation, establishing the legal framework for payment service providers (PSPs) and financial intermediation entities. The regulation mandates that PSPs obtain licenses from the Financial System Supervisory Authority (ASFI) and adhere to specific operational, technological, and capital requirements, while the Central Bank retains authority over tariff approval and statistical oversight. It defines permitted payment services, imposes obligations regarding fund availability (max 72 hours), data safeguarding, and agent liability, and sets a transitional period for entities to comply and regularize their status with the ASFI.