SGDB No. 035/2014: Validity and Replacement of Payment Instruments for Financial Intermediation Entities in Transformation or Transformed

B.C.B. / DGD-VUC

2014 AUG 27 PM 2: 37

CORRESPONDENCE
GENERAL
SENT

EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA La Paz, August 26, 2014 SGDB No. 035/2014

FROM: GENERAL MANAGEMENT
FINANCIAL ENTITIES MANAGEMENT
TO: FINANCIAL INTERMEDIATION ENTITIES
SUBJECT: VALIDITY AND REPLACEMENT OF PAYMENT INSTRUMENTS FOR FINANCIAL INTERMEDIATION ENTITIES IN TRANSFORMATION OR TRANSFORMED

Ladies and Gentlemen:

The Central Bank of Bolivia communicates that entities in the process of transformation or transformed in accordance with Financial Services Law No. 393 and the provisions of the Financial System Supervisory Authority - ASFI:

1. Have the following deadlines to replace payment instruments issued prior to the transformation process:
   a) checks for a maximum of nine (9) months; and b) payment cards (credit and debit) for a maximum of two (2) years.

These deadlines shall be calculated from the effective date of their new denomination, and they must submit to ASFI the measures adopted with a copy to the Central Bank of Bolivia, for monitoring and control.

2. During this period, checks, debit, credit, and prepaid card transactions may be compensated in the clearing chamber and by card administrator companies, respectively, considering the new codes assigned to each financial intermediation entity.

3. ASFI will supervise the replacement process.

Sincerely,

WPP/MMV/RPR/PMS/JGS

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