Regulatory Alerts2015-03-25 | SGDB N° 009/2015Added · Updated
SGDB N° 009/2015: Deadline for Incorporation into the Integrated Payment Settlement System (LIP)
The Central Bank of Bolivia establishes a mandatory schedule for authorized savings and credit cooperatives to join the Integrated Payment Settlement System (LIP) by June 1, 2015. The document specifies strict deadlines for submitting legal documents, signing reserve account agreements, exchanging digital certificates, and enabling network segments and security users. Financial intermediation entities are required to use the LIP for processing payment orders, with non-compliance subject to sanctions under applicable regulations.
B.C.B. / DGD-VUC
2015 MAR 27 PM 3: 30
EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA
La Paz, March 25, 2015 SGDB No. 009/2015
FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: MUTUALS AND SAVINGS AND CREDIT COOPERATIVES AUTHORIZED BY THE ASFI SUBJECT: DEADLINE FOR INCORPORATION INTO THE INTEGRATED PAYMENT SETTLEMENT SYSTEM (LIP)
Ladies and Gentlemen:
In compliance with Article 14 of the Regulations of the Integrated Payment Settlement System (LIP) approved with R.D. No. 061/2014 of 10.06.14 and once the tasks of verifying compliance with technical requirements have been completed, we communicate that the Central Bank of Bolivia (BCB) has defined the following schedule for Mutuals and Savings and Credit Cooperatives that have not yet incorporated as participants in the LIP:
| Activity | Deadline |
|---|---|
| Submission of legal documents | 10.04.2015 |
| Signing of reserve account opening contract | 17.04.2015 |
| Presentation or exchange of digital certificates | 30.04.2015 |
| Submission of forms for enabling network segment and security user | 08.05.2015 |
| Submission of note for enabling operations on digital certificates. | 15.05.2015 |
We remind you that financial intermediation entities that have an account at the BCB must, on a mandatory basis, use the LIP for the processing of their payment orders, and that non-compliance with these provisions will be sanctioned in accordance with regulations starting from 01.06.2015.
Activities must be coordinated with the LIP Help Desk at phones 2407262, 2147077, 2661623 or 2661627 or via email: ayudalip@bcb.gob.bo.
Sincerely,
[Signature] MISAEL MIRANDA VARGAS MANAGER OF FINANCIAL ENTITIES CENTRAL BANK OF BOLIVIA
[Signature] CARLOS A. COLODRO LÓPEZ GENERAL MANAGER a.i. CENTRAL BANK OF BOLIVIA
CCL/MMV/RPR/LIP/APM/AAOA/jkt.
Ayacucho and Mercado • Tel:(591-2) 2409090 • P.O. Box: 3118 www.bcb.gob.bo • bcb@bcb.gob.bo • La Paz-Bolivia