Regulatory Alerts2014-04-29 | SGDB N° 015/2014Added · Updated
SGDB N° 015/2014
The Central Bank of Bolivia modifies Article 6 of the Legal Reserve Regulation to replace fixed deduction percentages with a phased reduction schedule for the compensation of legal reserves by Banks, Private Financial Funds, Mutuals, and Cooperatives. The amendment introduces specific effective dates and varying compensation percentages for cash and securities holdings, applying to deposits subject to a 2% cash and 10% securities reserve rate. These changes take effect on May 12, 2014, and apply to financial entities authorized by the ASFI, including those licensed after September 30, 2010, for whom the baseline date is adjusted to the month of their licensing.
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