Regulatory Alerts2007-07-03 | Resolución 98/2007Added · Updated
Resolution 98/2007
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 12,300,000 banknotes of the additional Series G in the Bs10 denomination, totaling Bs123,000,000. Directors Hugo Dorado and Ernesto Yánez 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. 098/2007
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 the 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. 099/2007 of July 23, 2007. The Report from the Legal Affairs Management SANO No. 179/2007 of July 24, 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 Bs10 denomination.
That it is the attribution of the Board 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 to authorize the monetization of banknotes.
That the Report STES No. 099/2007 considers the monetization of the additional "G" series banknotes of the Bs10 denomination necessary, and recommends to the BCB Board 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. 179/2007, there is no legal impediment for the BCB Board, in attention to its faculties and competencies, to approve the monetization of banknotes in the Bs10 denomination.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of banknotes of the additional "G" series of the Bs10 denomination according to the following detail:
DENOMINATION NUMBER OF PIECES AMOUNT Bs. 10 12,300,000 123,000,000.-
Article 2.- Designate Directors Hugo Dorado and Ernesto Yánez to represent the Board in the act of monetization of the aforementioned material.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, July 24, 2007
Raúl Garrón Claure
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Rolando Marín Ibañez Ernesto Yánez Aguilar
Osvaldo Nina Baltazar
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