Regulatory Alerts2012-12-11 | Resolución 211/2012Added · Updated
Resolution 211/2012
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 160 million coins, specifically 80 million pieces of the Bs0.10 denomination and 80 million pieces of the Bs0.20 denomination, with a total face value of Bs24,000,000. Director Abraham Pérez is designated to represent the Board at the monetization ceremony, and the Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 211/2012 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs0.10 AND Bs0.20 COINS.- HAVING SEEN: The Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. The 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 Supply Contract SANO No. 185/2011 of May 20, 2011, signed with the company State Mints of Baden Wuerttemberg. The Report from the Monetary Operations Management BCB-GOM-STES-INF-2012-60 of December 6, 2012. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2012-391 of December 10, 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 Monetary Operations Management (GOM) and of the Legal Affairs Management in function of the issuance or storage requirements determined by the GOM. That in accordance with the Coin Supply Contract SANO No. 185/2011 signed with the company State Mints of Baden Wuerttemberg, the Central Bank of Bolivia received 80 million pieces of the Bs0.10 denomination and 80 million pieces of the Bs0.20 denomination That Report BCB-GOM-STES-INF-2012-60 establishes the need to introduce from the month of December of the current management, coins of the Bs0.10 and Bs0.20 denominations
//2. R.D. No. 211/2012 That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF-2012-391 there is no legal impediment for the Board of the BCB, in attention to its faculties and competencies, to approve the monetization of coins of the Bs0.10 and Bs0.20 denominations THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES: Article 1.- Authorize the monetization of coins of the Bs0.10 and Bs0.20 denominations according to the following detail: DENOMINATION NUMBER OF PIECES VALUE IN Bs. 0.10 80,000,000 8,000,000.- 0.20 80,000,000 16,000,000.- TOTAL 160,000,000 24,000,000.- Article 2.- Designate Director Abraham Pérez to represent the Board participate in the act of monetization of the cited material. Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution. La Paz, December 11, 2012
Marcelo Zabalaga Estrada
Rafael Boyán Téllez Hugo Dorado Araníbar
Rolando Marín Ibáñez Gustavo Blacutt Alcalá Abraham Pérez Alandia
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