Regulatory Alerts2012-08-31 | SGDB N° 040/2012Added · Updated
SGDB No. 040/2012: Submission of Payment Card Statistical Information
The Central Bank of Bolivia requires financial entities issuing and acquiring payment cards to transmit transaction data to Clearing and Settlement Entities (ESCL) within the first five business days following the reporting period. Clearing and Settlement Entities must consolidate, process, and forward this information to the Central Bank within ten business days of the relevant month. Failure to comply with these reporting obligations may result in sanctions imposed by the Central Bank under applicable regulations.
CORRESPONDENCE GENERAL SENT OUT
EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA
La Paz, August 31, 2012 SGDB No. 040/2012
FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: FINANCIAL ENTITIES AND CLEARING AND SETTLEMENT SERVICE ENTITIES SUBJECT: SUBMISSION OF PAYMENT CARD STATISTICAL INFORMATION
Ladies and Gentlemen:
The Central Bank of Bolivia (BCB), in accordance with Article 14 of the Payment Services Regulation and Article 17 of the Electronic Payment Instruments Regulation, notifies all financial entities issuing and acquiring payment cards that, as providers of payment services, they are obligated to submit information regarding their payment card transactions to the Clearing and Settlement Service Entities (ESCL) with which they operate, using the formats defined with said entities.
The information must be sent to the ESCL on a monthly basis within the first five (5) business days following the period being reported.
The ESCL must consolidate the information, process it, and submit it to the BCB on a monthly basis within ten (10) business days following the month to which the information corresponds, in the formats established by the BCB.
Under Article 16 of the Electronic Clearing Chambers and Clearing and Settlement Services Regulation, the Central Bank of Bolivia may impose sanctions for non-compliance with the regulations.
Sincerely.
CRO/MMV/MAAM/PMS/FDM
Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia