SGDB No. 033/2014 - Implementation of the Integrated Payment Settlement System (LIP) — BCB — BO

B.C.B. / DGD-VUC

2014 AUG 19 PM 12: 03

CORRESPONDENCE
GENERAL
SENT OUT

EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA

La Paz, August 18, 2014
SGDB No. 033/2014

FROM: GENERAL MANAGEMENT
MANAGEMENT OF FINANCIAL ENTITIES
MANAGEMENT OF LEGAL AFFAIRS

TO: PARTICIPANTS IN THE INTEGRATED PAYMENT SETTLEMENT SYSTEM (LIP)

SUBJECT: IMPLEMENTATION OF THE INTEGRATED PAYMENT SETTLEMENT SYSTEM (LIP)

Ladies and Gentlemen:

The Central Bank of Bolivia (BCB) communicates that, in response to requests from certain participants of the BCB Electronic Payment System, the implementation date of the LIP system scheduled for August 18, 2014, as communicated via External Circular SGDB No. 017/2014 dated June 11, 2014, is extended to September 8, 2014.

In this regard, the conclusion of legal and administrative procedures is requested as soon as possible, considering the following schedule:

From August 18 to 22: Submission of documentation and signing of the "Current Account, Reserve and Financial Services Contract," "Reserve and Financial Services Account Contract," or "LIP Participation Contract," as applicable.

From August 25 to 29: Exchange or presentation of Digital Certificates.

From September 1 to 5: Enablement of operations for digital certificates and users with the "Security" profile in the LIP.

Furthermore, in complement to External Circular SGDB No. 025/2014 dated July 31, 2014, we clarify to participants that with the note addressed to Dr. Wilma Pérez Paputsachis, Acting General Manager of the BCB, the following documentation must be submitted:

Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia

1) For Multiple Banks

Application for subscription of the "Current Account, Reserve and Financial Services Contract" with the BCB.
Legalized copy of the power of representation of the person(s) who will sign the aforementioned contract.
Simple copy of the identity card(s) of the person(s) who will sign the aforementioned contract.

2) For SME Banks

Application for account opening and subscription of the "Current Account, Reserve and Financial Services Contract" with the BCB.
Legalized copy of the new Operating License issued by the ASFI.
Legalized copy of the power of representation of the person(s) who will sign the aforementioned contract, as well as a simple copy of their identity card.
Simple copy of the Tax Identification Number (NIT) that reflects the new corporate name.
Legalized copy of the Public Deed of Transformation.
Original Registration Certificate in FUNDEMPRESA.
Any other documentation related to the transformation carried out.

3) For Housing Financial Entities (currently Savings and Loan Mutuals)

Application for subscription of the "Reserve and Financial Services Account Contract" with the BCB.
Legalized copy of the power of representation of the person(s) who will sign the aforementioned contract.
Simple copy of the identity card(s) of the person(s) who will sign the aforementioned contract.

Once the procedure corresponding to their transformation is concluded, Housing Financial Entities must attach the following documentation:

Application for account opening and subscription of the "Reserve and Financial Services Account Contract" with the BCB.
Legalized copy of the new Operating License issued by the ASFI.

Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia

Legalized copy of the power of representation of the person(s) who will sign the aforementioned contract, as well as a simple copy of their identity card.
Simple copy of the NIT that reflects the new corporate name.
Legalized copy of the Public Deed of Transformation.
Original Registration Certificate in FUNDEMPRESA.
Any other documentation related to the transformation carried out.

4) For Savings and Credit Cooperatives

Application for subscription of the "Reserve and Financial Services Account Contract" with the BCB.
Legalized copy of the power of representation of the person(s) who will sign the aforementioned contract.
Simple copy of the identity card(s) of the person(s) who will sign the aforementioned contract.

Furthermore, for the issuance of powers of legal representation to be sent to the BCB, they must expressly consider, without being limited to, the following powers:

To bind, in the name of the entity, to celebrate, sign, modify, resolve and/or dissolve any type of contract, agreement or legal act with the BCB, in order to comply with what is provided in the Legal Reserve Regulation, within the framework of the BCB's competencies established in Law No. 1670, and the terms that may be established in any contract to be signed with the BCB to implement said Regulation.
Authorization to the BCB for the disposal of its assets regarding the RAL Fund and debits in current and reserve accounts, reserve accounts or current accounts that are due to debits established by Law, Supreme Decrees or Board Resolutions, collection of commissions according to the BCB's "Commission Table for Services," debits for overdue obligations and others.
To delegate to the Issuer the power to dispose of its legal reserve resources constituted in securities, so that the BCB can, either by itself or by delegated administrators of the RAL FUND, authorize their sale, repo, discount, early redemption, delivery as collateral and carry out with said securities any operation or act that is necessary to successfully carry out the administration of the RAL FUND.

Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia

To authorize the BCB to carry out fund transfers, including automatic credits and debits from its various BCB accounts, in order to implement the aforementioned Regulation, as well as to operationalize the management of its accounts at the BCB.
To accredit before the BCB the authorized signatures for the management of its accounts and any act arising from contracts signed with the BCB.
To constitute and delegate the constitution of guarantees in the name of the financial entity on cash, fixed income securities and/or any other financial document, deposited in its name in the reserve account it maintains at the BCB and any other contract that requires it.
For signatory or signatory:

The (name of the entity) in its capacity as a participant in the Integrated Payment Settlement System (LIP), grants power to (name of the legal representative), to act in its name and representation and in its capacity as signatory or signatory of the self-signed digital certificates we issue, to generate the digital signature to be used in any electronic document digitally signed in the Integrated Payment Settlement System, issued in the name of (name of the entity).
For digital certificate exchange:

The (name of the entity) in its capacity as a participant in the Integrated Payment Settlement System, grants power to (name of the legal representative), to act in its name and representation to deliver and receive self-signed digital certificates, as well as to sign the respective minutes of exchange of digital certificates of the Integrated Payment Settlement System.

On the other hand, it should be considered that the power of attorney must contain the transcription of the relevant parts of its Statutes or constitutive documents by which the Board of Directors or other administrative bodies of the entity are authorized to confer special powers with powers of asset disposition. Likewise, the minutes or resolutions authorizing the attorney(s) to carry out this mandate with powers of asset disposition within the framework of what is established in this Circular must be incorporated.

Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia

Finally, pursuant to Article 165 of the Commercial Code, the power of the legal representatives for the signing of the aforementioned contract must be registered in the Commercial Registry (FUNDEMPRESA).

Any doubts or queries will be attended to by the LIP Help Desk via email at ayudalip@bcb.gob.bo or by phone at 2407262, 2147077, 2661623 or 2661627 prior to carrying out the procedures.

Sincerely,

WPP/MMV/MMS/RPR/GVV/LIP/APM

Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia

SGDB No. 033/2014 - Implementation of the Integrated Payment Settlement System (LIP)

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