EXTERNAL CIRCULAR

La Paz, October 21, 2016
SGDB No. 038/2016

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FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: FINANCIAL ENTITIES SUBJECT: INFORMATION CAPTURE SYSTEM FOR THE BCB

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Ladies and Gentlemen:

The Central Bank of Bolivia informs financial entities that the new version of the Operations Capture System: interest rates and exchange rates (Version 4.37) is available on the intranet of the Financial System Supervision Authority for download.

The system update modifies the validators for the productive portfolio according to the specifications of the "Regulation for credit operations to the productive sector."

Additionally, it incorporates Development Financial Institutions for the generation of respective reports, according to the following detail:

Acronym	Entity
ICI	CIDRE Development Financial Institution
ICR	CRECER Development Financial Institution
IDI	DIACONIA Development Financial Institution
IFO	FONDECO Development Financial Institution
IFU	FUBODE Development Financial Institution
IID	IDEPRO Development Financial Institution
IIM	IMPRO Development Financial Institution

Furthermore, in order to optimize the submission of information, it is communicated that starting from the month of October, the data generated for the Average Rates (TP) file must be sent in an aggregated manner, as established in Part E of the Compilation of External Circulars of the Operations Capture System: interest rates and exchange rates (see attached document).

The new version of the System will be in effect starting November 8, 2016, for reporting information from November 7, 2016.

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IFDs must report information starting from November 22 with information from November 21, 2016.

The TP file with data for October 2016 will have a submission deadline until November 30, 2016. Any inquiries will be attended to at phones 2661642 and 2661641 or at emails gbrizzia@bcb.gob.bo or asucré@bcb.gob.bo.

Sincerely.

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RONALD O. PINTO RIBERA
FINANCIAL ENTITIES MANAGER B.A.
CENTRAL BANK OF BOLIVIA

CARLOS A. COLODRÓ LÓPEZ
GENERAL MANAGER a.i.
CENTRAL BANK OF BOLIVIA

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CCL/RPR/OPH/mgp/mug
C.c. Archive

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Ayacucho Street corner Mercado · Telephone: (591-2) 2409090 · Fax: (591-2) 2661590
www.bcb.gob.bo · bancocentraldebolivia@bcb.gob.bo · La Paz Bolivia

# CENTRAL BANK OF BOLIVIA

## COMPILATION OF EXTERNAL CIRCULARS ON INTEREST RATES, CREDIT CARDS, INTERBANK OPERATIONS, TIME DEPOSITS AND EXCHANGE OPERATIONS

### OBJECTIVE
Establish mechanisms that promote greater transparency in the financial intermediation market, through the publication of information for the public processed by the Central Bank of Bolivia (BCB), with the objective of informing the market about the weighted average active and passive rates traded in the financial intermediation system.

### SCOPE OF APPLICATION
All Financial Intermediation Entities (EIF), authorized for operation by the Financial System Supervision Authority (ASFI), are subject to the provisions of this Regulation.

### DEFINITIONS

**Interest Rate**: It is the price of money or payment stipulated for active and/or passive operations traded by Financial Intermediation Entities with the public.

**Credit Card**: Electronic Payment Instrument (EPI) that indicates that a credit line has been granted to its holder: It allows obtaining cash and/or making purchases up to a previously agreed limit.

**Interbank Operations**: Interbank operations are considered to be deposit or placement operations carried out between supervised entities, whose object is to satisfy temporary liquidity needs, for terms of thirty (30) calendar days or less. They are instrumented through loan contracts subject to the provisions contained in Law No. 393 on Financial Services (LSF), in the Commercial Code insofar as applicable. In no case are interbank operations generated under credit line(s).

**Time Deposits**: These are operations between EIF for terms greater than or equal to 30 days, operationalized through the issuance of Fixed Term Deposits.

**Exchange Operations**: These are buy-sell operations of foreign currencies that EIF carry out with clients, financial entities, and with the BCB.

**General Considerations**
In order to optimize the data reported by Financial Entities, the BCB recalls that the regulations on the subject in reference are in force.

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This compilation considers all norms issued and in force to date and is structured in five parts:

- Part A: Interest Rates
- Part B: Credit Cards
- Part C: Interbank Operations and Time Deposits
- Part D: Exchange Operations
- Part E: Active Passive Rates
- Part F: General and Format Considerations

# PART A. INTEREST RATES

This information is collected and processed by the BCB with the objective of informing clients and/or financial users about the weighted average active and passive rates traded in the financial intermediation system, as well as the generation of other relevant rates (Reference Rate (TRE), Referential Parity Active Rate (TAPR)).

Operations that are agreed upon during the day of the report are registered according to the concepts and parameters exposed below:

1. **Entity Code (ifi):** According to the code assigned by ASFI.

2. **City Code (ciu_cod):** According to ANNEX No. 1 of this circular.

3. **Branch Code (scr_cod):** According to ANNEX No. 1 of this circular.

4. **Rate Code (tas_cod):** Twelve (12) basic types of rates are established:

| Code | Rate | Description |
|--------|------|-------------|
| PIA | Active Board Rate | Registers the single rate by characteristic of the operation offered by the entity in credit operations. |
| ACT | Nominal Rate of Active Operations | Registers the interest rates of all and each of the active operations agreed upon that generate yield in rate. They do not consider capitalizations or additional surcharges. |
| TEA | Effective Active Rate | Registers the annual interest rate, according to the agreed amortization period. It is defined* as the total cost of credit for the borrower, expressed in annualized percentage, which includes all financial charges that the supervised entity charges the borrower. |
| TEC | Effective Active Rate to the Client of each active operation | Registers the calculation of the Effective Active Rate to the Client. The TEC* is defined as the annual interest rate that equates the present value of disbursement flows with the present value of credit service flows. The calculation of the present value must consider the existence of time periods less than one year when so required. |
| TPA | Average Active Rate | Registers the daily weighted average nominal interest rate by term and currency of active operations. |
| PEA | Average Effective Active Rate | Registers the daily weighted average effective interest rate by term and currency of active operations. |
| PEC | Average Effective Active Rate to the Client | Registers the daily weighted average effective interest rate to the client by term and currency of active operations. |
| PIP | Passive Board Rate | Registers the single interest rate by characteristic of the operation offered by the entity in deposit operations. |
| PAS | Nominal Rate of Passive Operations | Registers the interest rates of all and each of the passive operations agreed upon that generate cost in rate. They do not consider capitalizations. |
| TEP | Effective Passive Rate | Registers the annual capitalized interest rate, according to the agreed capitalization period. The TEP* is defined as the total remuneration received by a depositor, expressed in annualized percentage, including capitalizations and other remunerations. |
| TPP | Average Passive Rate | Registers the daily weighted average nominal interest rate by term and currency of passive operations. |
| PEP | Average Effective Passive | Registers the daily weighted average effective interest rate by term and currency of passive operations. |

<sup>1</sup> Expansion of codes incorporated in External Circular SGDB No. 004/2014

(*) According to Book 5th, Title I, Chapter III, Section 1, Article 4th of the Compilation of Norms for Financial Services.

For the reporting of this field, the following aspects must be taken into account:

a. If no operations had been agreed upon during the day of the report, nominal rates (ACT, PAS), effective rates (TEP, TEA, TEC) and weighted averages (TPP, TPA, PEP, PEA, PEC) are not reported.

b. Board rates (PIP and PIA) are reported daily, whether or not operations exist, including Saturdays and Sundays.

c. The calculation of effective passive rates (TEP) and active rates (TEA) and the effective active rate to the client (TEC) will be carried out in accordance with the Interest Rate Regulation issued by ASFI.

d. For the calculation of effective rates, the following concepts are defined:

| Concept | Description | Calculation Method |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------|
| Financial Charges | Costs related to credit in monetary terms, including the nominal interest and any other charge that the supervised entity makes to a borrower, whether for the benefit of the entity itself or third parties, during the validity period of the same. | Both values are calculated by dividing the cost by the principal amount (annualized in the case of recurring costs). This result is replaced in the formula. |
| Other Surcharges | Registers additional costs for charges made only once during the term of the operation(s), annual surcharge(s) of the operation(s) or that are fixed in the board list. |                                                                                                              |

e. For each active operation agreed upon, three (3) records must be reported, the first with the nominal active rate (ACT), the second with the effective active rate (TEA) and the third with the effective active rate to the client (TEC), which contain similar information, except for the value (pri_tno) and the type of rate (tas_cod).

f. For each passive operation agreed upon, two (2) records must be reported, one with nominal passive rate (PAS), and another with effective passive rate (TEP) which contain similar information except for the value (pri_tno) and the type of rate (tas_cod).

g. The calculation of the Effective Active Rate to the Client (TEC) must include all credit flows, that is, the disbursements made and the amortizations made and paid, as well as the estimated future flows in the schedule.

h. The weighted averages of the rates must consider new operations and reprogramming and/or renewals (in the case of active and passive operations respectively) jointly and must be grouped by the following fields:

| Field | Description |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------|
| Rate | TPP, TPA, PEP, PEA, PEC |
| Concept | Consumption, business, housing mortgage, microcredit, SME, social interest housing mortgage, demand, savings account, FTD, etc. |
| Currency | MN, ME, MNVDOL, MNUFV |
| Term | Operations must be grouped between the determined ranges (less than 30, 31 to 60, 61 to 90, 91 to 180, 181 to 360, 361 to 720, 721 to 1080, greater than 1080 days). |
| Weighted Averages | $ weighted\ average_{j} = \sum \frac{Rate\ operation_{i} * Amount\ operation_{i}}{Total\ amount\ of\ the\ group_{j}} $ |

5. Concept Code (con_cod):  
For the reporting of rates, the following concepts² must be considered:  

| Code | Description |
|--------|-------------|
| 10 | Contingent debtor accounts |
| 11 | Savings |
| 12 | Time deposits |
| 13 | Demand |
| 14 | Restricted obligations |
| 15 | Fiscal obligations |
| 16 | Internal financing entity obligations |
| 17 | External financing entity obligations |
| 18 | Other liabilities |
| 41EI | Business Credit investment capital. |
| 41CI | Business Credit qualified by days of delinquency investment capital. |
| 41AI | Agribusiness Business Credit investment capital. |
| 41PI | Business Credit duly guaranteed to the public sector investment capital. |
| 41EO | Business Credit operating capital. |
| 41CO | Business Credit qualified by days of delinquency operating capital. |
| 41AO | Agribusiness Business Credit operating capital. |
| 41PO | Business Credit duly guaranteed to the public sector operating capital. |
| 42EI | SME Credit qualified as business investment capital |
| 42AI | Agribusiness SME Credit investment capital |
| 42EO | SME Credit qualified as business operating capital |
| 42AO | Agribusiness SME Credit operating capital |
| 42MI | SME Credit qualified by days of delinquency investment capital |
| 42MO | SME Credit qualified by days of delinquency operating capital |
| 43I | Individual Microcredit investment capital |
| 43O | Individual Microcredit operating capital |
| 43AI | Agribusiness Microcredit investment capital |
| 43AO | Agribusiness Microcredit operating capital |
| 44I | Solidarity Microcredit investment capital |
| 44O | Solidarity Microcredit operating capital |
| 45I | Community Bank Microcredit investment capital |
| 45O | Community Bank Microcredit operating capital |
| 46C | Housing Mortgage construction of individual housing or horizontal property |
| 46M | Housing Mortgage purchase of individual housing or horizontal property |
| 46R | Housing Mortgage renovation, remodeling, expansion, improvement of individual housing or horizontal property |

² Field modified by External Circular SGDB No. 018/2014

| Code | Description |
|--------|-------------|
| 46T | Housing Mortgage acquisition of land for construction of individual housing or horizontal property |
| 47A | Consumption to salaried person |
| 47B | Consumption to non-salaried person |
| 47D | Consumption free availability |
| 47M | Consumption purchase of movable goods |
| 47T | Consumption credit card |
| 48A | Housing without mortgage guarantee anticretic of individual housing or horizontal property |
| 48C | Housing without mortgage guarantee construction of individual housing or horizontal property |
| 48R | Housing without mortgage guarantee renovation, remodeling, expansion, improvement of individual housing or horizontal property |
| 51C | Housing without mortgage guarantee duly guaranteed construction of individual housing |
| 51R | Housing without mortgage guarantee duly guaranteed renovation, remodeling, expansion, improvement |
| 52S | Social interest housing mortgage |
| 53A | Housing without mortgage guarantee social interest anticretic |
| 53C | Housing without mortgage guarantee social interest construction individual housing |
| 53R | Housing without mortgage guarantee social interest renovation, remodeling, expansion, improvement |

6. Account Code (cta_cod): Registers the code of the account to which the operation has been imputed, according to the Manual of Accounts for Financial Entities (MCEF) in force, issued by ASFI.

7. Operation Number (pri_ope): Corresponds to the number that each financial entity assigns to the operation. The following aspects must be taken into account:  
a. This field must not contain data when Board Rates are reported.  
b. For a given operation, the same operation number must be maintained for all rates defined in point 4, paragraph c.

8. Operation Date (pri_fec): Registers the execution date of the operation, which must correspond to the processing date that must be registered upon entering the system.  
The date of the records sent must have the following format: "dd/mm/yyyy".

9. Transaction Code (tra_cod)³: Each operation must correspond to one of the following transactions:

| Code | Description |
|--------|-------------|
| APE | Opening of obligations, contracting of credits and investments |
| RPR | Reprogramming of credits |
| ESP | Special operations (pledges, guarantees, operations originated in foreign trade operations, etc.) |
| CAN | Cancellation of obligations, credits and investments |
| CAA | Early cancellation of: obligations, credits and investments |
| REP | Repo operations |
| COM | Firm purchase |
| REN⁴ | Housing operations renegotiated to the conditions of social housing credits |
| CVS⁵ | Housing operations that were not renegotiated, but count as social housing credits |

For the reporting of this field, the following aspects must be taken into account:

a. Active operations that originate in foreign trade operations must be reported with the transaction code (tra_cod) "ESP".

b. FTDs must be reported at the time of their opening.

c. Pledged FTDs at the time of their opening must be reported with the transaction code "ESP". Only the pledge is reported if it is executed at the time of the opening of the FTD.

d. For the renewal of an FTD, the cancellation and the opening with the new conditions must be reported, when applicable.

e. Final cancellations (CAN, CAA) active or passive for fixed term deposits must be reported in a single record, indicating the last nominal rate assigned to the operation and with zero (0) amount. Cancellations of demand deposit and savings account operations must not be reported.

f. The purchase or sale of FTDs in the secondary market must not be reported.

g. Write-off of portfolio is registered as cancellation of the active operation (CAN).

h. For early cancellations, the Regulations on Fixed Term Deposits and Legal Reserve must be observed previously.

10. Currency Code (mon_cod): According to ANNEX No. 2 of this circular.

11. Rate Value (pri_tno): Registers the annual nominal rate of the operation. The value of the reported rates must be registered with a cut of 4 decimals.

12. Commission (pri_com): Registers the annual commission assigned to the operation or the commissions that are fixed in the board list. Recurring commissions with the periodicity of the operation are considered.

13. Other surcharges (pri_rec): Registers additional costs or income for charges made only once during the term of the operation, annual surcharges of the operations or that are fixed in the board list.

³ Transaction Codes expanded by External Circular SGDB No. 013/2014  
⁴ New Field included by External Circular SGDB No. 013/2014  
⁵ New Field included by External Circular SGDB No. 013/2014

14. Term of the operation in days (pri_pla): Registers the number of days of the agreed or offered term of the operation from its contracting to its maturity.

15. Capitalization period (pri_per): Registers the number of days of the capitalization or amortization period, depending on the case of the operations. The following aspects must be considered:

a. The number of days of term for the operation is always greater than or equal to the number of days of the period (pri_pla >= pri_per).

b. If the capitalization or amortization of an operation is at maturity, the capitalization period must be equal to the term of the operation.

c. If the capitalization or amortization of an operation is monthly, thirty (30) days must be counted for the capitalization or amortization period, if semi-annual one hundred eighty (180) days must be counted and so on (as applicable to the period in multiples of thirty).

16. Debit (pri_deb): Registers the amounts generated by active operations. They are registered according to the movement of active accounts (increase in assets is debited).

17. Credit (pri_hab): Registers the amounts generated by passive operations. They are registered according to the movement of passive accounts (increase in liabilities is credited).

18. Non-exempt / exempt (pri_exc): Applicable only to passive operations. It allows identifying those operations that will be registered in the Central Bank of Bolivia for the exemption in the constitution of Legal Reserve.

FTDs with legal reserve exemption that correspond and are registered in the BCB must be identified with the character one ("1").

19. Caedec (act_eco): In this field, the code of the client's economic activity must be registered, according to the code published by ASFI.

20. Caedec (dest_act_eco): In this field, the code of the destination of the credit disbursed to the client must be registered, according to the code published by ASFI.

In passive operations, the code of the economic activity is repeated in the field des_act_eco.

21. Type of person (t_persona): Registered according to ANNEX No. 3 of this circular.

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22. Type of company (t_empresa)⁶: The size of the company is registered according to the methodology applied by ASFI, where:

| Concept | Description |
|----------|-------------------|
| 0 | Microenterprise |
| 1 | Small Enterprise |
| 2 | Medium Enterprise |
| 3 | Large Enterprise |

23. Type of rate (t_tasa)⁷: Indicates the type of variation of the interest rate of the record.

| Concept | Description |
|----------|-----------------|
| F | Fixed Rate |
| M | Mixed Rate |
| V | Variable Rate |

24. Fixed Value (Valor_fijo)⁸: In this field, the value of the fixed rate is registered.

25. Date of change to variable rate (fec_varia)⁹: The date where the rate converts from fixed rate to variable rate is registered, this record applies only when the type of rate is "Mixed Rate" (fec_varia >= pri_fec).

26. Commercial Value (valor_com)¹⁰: Registers the amount of the commercial value of the property for social interest housing credits assigned in the appraisal of the professional expert, expressed in UFV at the quotation of the day corresponding to the application of the credit rate.

27. Application of rate by decree in FTD (dpf_mas)¹¹: In this field, the following must be reported:

| Code | Description |
|--------|--------------------------------------------------------------------------------------------------------------|