Regulatory Alerts2007-07-03 | Resolución 97/2007Added · Updated
Resolution 97/2007
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 11,400,000 banknotes of the additional Series G in the Bs20 denomination, totaling Bs228,000,000. Directors Rolando Marín and Osvaldo Nina are designated to represent the Board during the monetization ceremony. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 097/2007
SUBJECT: MONETARY OPERATIONS MANAGEMENT - AUTHORIZES MONETIZATION OF ADDITIONAL "G" SERIES 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 Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 108/2001 of October 30, 2001.
The Banknote Provision Contract (Additional Series G) SANO No. 114/2006 of October 18, 2006, signed between the BCB and the company Francois Charles Oberthur Fiduciaire.
The Report from the Monetary Operations Management STES No. 097/2007 of July 17, 2007.
The Report from the Legal Affairs Management SANO No. 174/2007 of July 17, 2007.
CONSIDERING:
That Article 1 of Law No. 901 creates the Boliviano as the unit of the monetary system of the Republic, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987.
That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and non-delegably the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins.
That in accordance with contract SANO No. 114/2006, the Central Bank of Bolivia has received from the company Francois Charles Oberthur Fiduciaire the partial provision of banknotes of the additional "G" series of the Bs20 denomination.
That it is an attribution of the Board of Directors according to Article 54, paragraph m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes.
That Article 9 of the Regulation for the Issuance, Exchange, and Destruction of Monetary Material establishes that it is the faculty of the BCB Board of Directors to authorize the monetization of banknotes.
That Report STES No. 097/2007 considers the monetization of the additional Series G banknotes of the Bs20 denomination necessary, and recommends to the BCB Board of Directors to consider the monetization of the monetary material delivered in vaults by the supplier company Francois Charles Oberthur Fiduciaire.
That in the opinion of the Legal Affairs Management according to Report SANO No. 174/2007, there is no legal impediment for the BCB Board of Directors, in attention to its faculties and competencies, to approve the monetization of banknotes in the Bs20 denomination.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Authorize the monetization of banknotes of the additional Series G of the Bs20 denomination according to the following detail:
DENOMINATION NUMBER OF PIECES AMOUNT Bs. 20 11,400,000 228,000,000.-
Article 2.- Designate Directors Rolando Marín and Osvaldo Nina to participate in representation of the Board of Directors 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, July 17, 2007
Raúl Garrón Claure
Gustavo Blacutt Alcalá Rolando Marín Ibañez
Ernesto Yánez Aguilar Osvaldo Nina Baltazar
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