Regulatory Alerts2002-10-22 | Resolución 124/2002Added · Updated
Resolution 124/2002
The Board of Directors of the Central Bank of Bolivia amends Article 22 of the Internal Regulations for Operations under the ALADI Reciprocal Payments and Credits Agreement, reducing the maximum limit for outstanding payment instruments issued by authorized institutions from 30% to 20% of their monthly reported accounting equity. This modification enters into force on January 2, 2003, and prohibits authorized institutions with indebtedness exceeding 20% of their accounting equity on that date from issuing or guaranteeing payment instruments until they comply with the new limit.
BOARD RESOLUTION NO. 124/2002
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT - MODIFIES THE INTERNAL REGULATIONS FOR OPERATIONS THROUGH THE ALADI RECIPROCAL PAYMENTS AND CREDITS AGREEMENT.
HAVING VIEWED:
Law 1670 of October 31, 1995.
The current Reciprocal Payments and Credits Agreement between the Central Banks of the member countries of ALADI and that of the Dominican Republic, as well as its Regulations.
Board Resolution No. 118/2001 of November 20, 2001, which approves the Internal Regulations for Operations through the ALADI Reciprocal Payments and Credits Agreement.
Report from the International Operations Management (GOI) No. 010/2002 of October 18, 2002.
Report from the Legal Affairs Management (SANO) No. 235/2002 of October 22, 2002.
CONSIDERING:
That Report GOI No. 010/2002 conducts an evaluation of the Internal Regulations for Operations through the ALADI Reciprocal Payments and Credits Agreement, recommending that the debt limit granted to authorized banks be modified.
That Report SANO No. 235/2002 states that there is no legal impediment for the Board to authorize such modification.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Approve the modification of Article 22 of the Internal Regulations for Operations through the ALADI Reciprocal Payments and Credits Agreement, in the following terms:
SAYS:
The maximum limit of the value of the payment instruments issued and pending payment by authorized institutions shall not exceed thirty percent (30%) of their accounting equity reported monthly to the Bank by the Superintendence of Banks and Financial Entities.
SHOULD SAY:
“The maximum limit of the value of the payment instruments issued and pending payment by authorized institutions shall not exceed twenty percent (20%) of their accounting equity reported monthly to the Bank by the Superintendence of Banks and Financial Entities.”
Article 2.- The modification of Article 22 shall enter into force as of January 2, 2003.
Article 3.- Authorized institutions that on January 2, 2003, have indebtedness exceeding 20% of their accounting equity shall not be able to issue and/or guarantee Payment Instruments until they adapt to said limit.
Article 4.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, October 22, 2002.
Juan Antonio Morales A.
Juan Medinaceli V. Armando Méndez M. Enrique Ackermann A.
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.