Regulatory Alerts2015-09-25 | SGDB N 046/2015Added · Updated
SGDB N 046/2015: Requirements for Incorporation into the Integrated Payment Settlement System (LIP)
The Central Bank of Bolivia requires supervised financial intermediation entities, including open or corporate savings and credit cooperatives, development financial institutions, and housing financial entities, to subscribe to the "Contract for Reserve Account and Financial Services" to utilize the Integrated Payment Settlement System (LIP). Entities must submit a formal request letter along with specific legal documentation, such as legalized copies of constitutive deeds, operating licenses issued by the ASFI, and tax registration certificates. The legal power of attorney authorizing the signatory must explicitly grant powers to manage digital certificates, execute contracts with the Central Bank, authorize asset disposals for reserve funds, and permit automatic fund transfers, and must be registered in the Commercial Registry unless the entity is a development financial institution.