Resolution 196/2012

BOARD RESOLUTION NO. 196/2012
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – APPROVES MODIFICATION TO THE INTERNAL REGULATION FOR OPERATIONS THROUGH SUCRE.

HAVING REVIEWED:
The Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia.
The Statute of the BCB approved by Board Resolution No. 128/2005 of October 21, 2005 and its modifications.
The Constitutive Treaty of the Unified System of Regional Payment Compensation (SUCRE) signed on October 16, 2009.
Law No. 016 of May 24, 2010.
Board Resolutions Nos. 103/2010 and 113/2010 of September 14 and October 5, 2010 respectively.
The Report from the International Operations Management BCB-GOI-INF-2012-17 of November 13, 2012.
The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2012-360 of November 16, 2012.

CONSIDERING:
That through Board Resolution No. 103/2010, the Internal Regulation for operations through SUCRE was approved.
That through Board Resolution No. 113/2010, modifications to the Internal Regulation for operations through SUCRE were approved. That the Report BCB-GOI-INF-2012-17 from the International Operations Management recommends that a modification be made to the aforementioned Regulation. That the Report BCB-GAL-SANO-INF-2011-360 from the Legal Affairs Management states that there is no legal impediment for the Board to consider the modification to the Internal Regulation for operations through SUCRE.

That in accordance with article 54 item o) of Law No. 1670 and article 11 numeral 29) of the BCB Statute, the Board is empowered to approve, interpret, and modify the Statute and Regulations of the Institution by two-thirds of the votes of all its members, without the need for any additional administrative act.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Modify article 8 (Authorized Instruments) of the Internal Regulation for operations through the Unified System of Regional Payment Compensation (SUCRE):

IT STATES:
Payments originated in the following instruments are authorized:

• Letters of Credit.
• Payment Orders.
  Any other payment instrument must have the prior and express authorization of the BCB Board of Directors.

MUST STATE:
“Payments originated in Letters of Credit are authorized.”

Article 2.- In the case of outstanding Payment Orders for Bolivian exports and imports carried out before November 20, 2012, their processing in SUCRE will be authorized in the current period, only if the Bolivian Authorized Operating Bank, previously and obligatorily, certifies by note to the Central Bank of Bolivia, under its full and exclusive responsibility, that it has carried out the corresponding verifications regarding the export or import and the exporting or importing company.

Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, November 20, 2012

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Marcelo Zabalaga Estrada

_______________________ _______________________ Hugo Dorado Araníbar Rolando Marín Ibáñez _______________________ _______________________ Gustavo Blacutt Alcalá Abraham Pérez Alandia