Regulatory Alerts1997-10-21 | Resolución 160/97Added · Updated
Resolution 160/97 Approving the Regulation of Credits to the Public Sector
The Board of Directors of the Central Bank of Bolivia approves the Regulation of Credits to the Public Sector, establishing the procedures and requirements for granting public credit to the General Treasury of the Nation under Law 1670. The regulation distinguishes between credits for public calamities or internal/international commotion and those for temporary liquidity needs, mandating specific documentation, internal reports from the Legal, Monetary and Credit Management, and Economic Policy Advisories, and a two-thirds majority vote by the Board for approval. Financial conditions for temporary liquidity credits are capped at a maximum term of 90 days, renewable up to one year, with interest rates not lower than prevailing market rates for similar securities, while disbursement requires the execution of a credit contract and the physical delivery of public securities.
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