Regulatory Alerts2013-12-05 | RESOLUCION DE DIRECTORIO Nº 129/2013Added · Updated
Resolution of the Board of Directors No. 129/2013
The Board of Directors of the Central Bank of Bolivia approves the regulation establishing Complementary Reserves as a mandatory legal reserve for Financial Intermediation Entities (FIEs). This measure immobilizes excess legal reserve funds exceeding an adequate liquidity level, equivalent to 4.43% of FIE deposits as of September 12, 2013, with an effective date of September 18, 2013, and a duration of 224 calendar days. FIEs with public deposit balances below 2% of total system deposits are exempt, and the reserves earn an annual interest rate of 1.8% payable at maturity. Additionally, these reserves can be used to cover up to 100% of additional foreign currency reserve requirements in December 2013 and March 2014.
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