Regulatory Alerts2014-08-18 | SGDB N° 033/2014Added · Updated
SGDB No. 033/2014 - Implementation of the Integrated Payment Settlement System (LIP)
The Central Bank of Bolivia extends the implementation date of the Integrated Payment Settlement System (LIP) from August 18, 2014, to September 8, 2014. The circular establishes a specific schedule for participants to submit documentation, exchange digital certificates, and enable operations between August 18 and September 5. It details the mandatory legal and administrative requirements for multiple banks, SME banks, housing financial entities, and savings and credit cooperatives, including specific powers of attorney authorizing the BCB to manage reserve accounts and execute transactions. Participants must ensure their powers of attorney are registered with FUNDEMPRESA and include specific clauses regarding asset disposition and digital signature generation.