Regulatory Alerts1997-07-15 | Resolución 126/97Added · Updated
Resolution 126/97
The Board of Directors of the Central Bank of Bolivia approves a maximum investment limit of US$40,000,000 for time deposits in the Andean Development Corporation (CAF) and the Latin American Reserve Fund (FLAR) for the period from July 1 to December 31, 1997. These deposits are restricted to terms of up to six months. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 126/97
SUBJECT: INTERNATIONAL AFFAIRS - APPROVES INVESTMENT MARGIN IN FLAR AND CAF FOR THE SECOND HALF OF 1997.
HAVING SEEN:
Law No. 1670 of October 31, 1995, Chapter II, regarding the functions of the Central Bank of Bolivia (BCB) in relation to international reserves.
The Regulations for the Administration of International Reserves, approved by Board Resolution No. 080/97 of February 18, 1997.
Report SRDE No. 033/97 from the International Affairs Management of July 8, 1997.
Report UAJUR No. 278/97 from the Legal Affairs Unit of July 9, 1997.
CONSIDERING:
That Article 10 of the Regulations for the Administration of International Reserves stipulates that the BCB Board shall set the maximum limits for the investment of international monetary reserves in each of the worldwide or regional multilateral organizations in which the country holds shareholding participation.
That Report SRDE No. 033/97 from the International Affairs Management recommends maintaining the authorization to make investments in FLAR and CAF during the second half of 1997.
That according to Report AUJUR No. 278/97 from the Legal Affairs Unit, there is no legal impediment to approving the investment limit in said multilateral organizations for the period July - December 1997.
That the Bank's Reserve Administration Committee, based on the criteria of security, liquidity, profitability, and institutional reciprocity established in the aforementioned Regulations, recommends maintaining the authorization to make time deposits in FLAR and CAF, up to a maximum of US$40,000,000.- (FORTY MILLION 00/100 DOLLARS AMERICAN) for the period July - December 1997.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Approve as the maximum investment limit in FLAR and CAF, in time deposits up to six months for the period between July 1 and December 31, 1997, the sum of US$40,000,000.- (FORTY MILLION 00/100 DOLLARS AMERICAN).
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
15.VII.97
____________________ Juan Antonio Morales A.
Armando Pinell S. Jaime Ponce G. ________________ Edgar Millares A.
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