Regulatory Alerts2012-10-17 | Resolución 186/2012Added · Updated
Resolution 186/2012
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 25,000,000 banknotes of the Bs20 denomination, totaling a value of Bs500,000,000. Gustavo Blacutt is designated to represent the Board at the monetization ceremony, and the Presidency and General Management are tasked with executing and complying with this resolution.
BOARD RESOLUTION NO. 186/2012 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs20.- BANKNOTES
HAVING REVIEWED: Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency. Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 117/2009 of October 6, 2009. The Coin Provision Contract SANO No. 256/2011 of July 26, 2011, signed with the company De la Rue International Limited. The Report from the Monetary Operations Management BCB-GOM-STES-INF-2012-53 of October 16, 2012. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2012-336 of October 17, 2012.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and put circulation as legal tender, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises in an exclusive and non-delegable manner the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins. That it is an attribution of the Board according to article 54 subsection m) of Law No. 1670 and the numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins. That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material, establishes that it is the faculty of the Board of the BCB, the authorization of monetization of monetary material based on the reports of the Management of
//2. R.D. No. 186/2012 Monetary Operations (GOM) and the Legal Affairs Management based on the issuance or storage requirements determined by the GOM. That in accordance with the Banknote Provision Contract SANO No. 256/2011 signed with the company De la Rue International Limited, the Central Bank of Bolivia received 25 million pieces of the Bs20.- cut in its first batch. That the Report BCB-GOM-STES-INF-2012-53 establishes the need to introduce from the month of October of the current management, banknotes of the Bs20.- denomination. That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF 2012-336 there is no legal impediment for the Board of the BCB, in attention to its faculties and competencies, to approve the monetization of Bs20.- banknotes.
THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of banknotes of the Bs20.- denomination according to the following detail:
DENOMINATION NUMBER OF PIECES VALUE IN Bs. 20.- 25,000,000 500,000,000.- TOTAL 25,000,000 500,000,000.-
Article 2.- Designate Director Gustavo Blacutt to represent the Board in the act of monetization of the cited material.
Article 3.- The Presidency and General Management are in charge of the execution and compliance with this Resolution.
La Paz, October 17, 2012
Marcelo Zabalaga Estrada
//3. R.D. No. 186/2012
Rafael Boyán Téllez Hugo Dorado Araníbar
Gustavo Blacutt Alcalá Ernesto Yáñez Aguilar
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