Regulatory Alerts2012-12-24 | SGDB N° 057/2012Added · Updated
SGDB No. 057/2012: Submission of Requests to the Bolsin
The Central Bank of Bolivia establishes procedures for financial entities and the general public to submit requests to participate in daily Bolsin sessions for the sale of US dollars. Requests must be submitted by 15:00 daily, with specific submission channels defined based on access to the Foreign Exchange Operations System (SIOC) and the entity's location. Public participants must have funds confirmed by their financial institution by 16:00, with debits processed by 18:00 and USD credits applied the next business day. Financial entities lacking sufficient national currency funds by the deadline face rejection and a five-business-day suspension from Bolsin participation.
EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA
La Paz, December 24, 2012 SGDB No. 057/2012
FROM: GENERAL MANAGEMENT INTERNATIONAL OPERATIONS MANAGEMENT TO: FINANCIAL ENTITIES SUBJECT: SUBMISSION OF REQUESTS TO THE BOLSIN
Ladies and Gentlemen:
In compliance with Article 13 of the Foreign Exchange Operations Regulations, approved by the Board of Directors Resolution of the Central Bank of Bolivia (BCB), No. 031/2009, and Article 12 of Supreme Decree No. 1423 of December 5, 2012, the procedure for submitting requests to participate in the daily Bolsin sessions is detailed below:
-
Requests must be sent or presented by 15:00 each day.
-
Requests shall be made according to the following modalities:
2.1 On behalf of the financial entity itself 2.1.1 Financial entities that have access to the Foreign Exchange Operations System (SIOC) must register their request by making the respective provision of funds in national currency. 2.1.2 Financial entities with their head office in La Paz and that do not have access to the SIOC must submit their request at the BCB Single Window, in a closed envelope containing Form No. 1520-004 "Request for the Sale of United States Dollars through the Bolsin". (http://www.bcb.gob.bo/index.php?q=servicios/formularios&cat=27) 2.1.3 Financial entities with their head office in the interior of the country and that do not have access to the SIOC must send their request to the email address bolsin@bcb.gob.bo attaching the scanned Form No. 1520-004.
Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia 1
2.2 On behalf of a client of the financial entity
2.2.1 Financial entities that have access to the Foreign Exchange Operations System (SIOC) must register their request by making the respective provision of funds in national currency.
2.2.2 Financial entities with their head office in La Paz and that do not have access to the SIOC must submit their request at the BCB Single Window, in a closed envelope containing Form No. 1520-004 "Request for the Sale of United States Dollars through the Bolsin". (http://www.bcb.gob.bo/index.php?q=servicios/formularios&cat=27)
2.2.3 Financial entities with their head office in the interior of the country and that do not have access to the SIOC must send their request to the email address bolsin@bcb.gob.bo attaching the scanned Form No. 1520-004.
Under this modality, on the same day as the allocation of United States dollars (USD), financial entities must send copies of the accounting vouchers evidencing the debit in national currency and the credit in USD of the beneficiary's accounts to the International Operations Management of the Central Bank of Bolivia.
-
The general public may participate directly in the Bolsin sessions by complying with the provisions of the Foreign Exchange Operations Regulations, for which:
3.1 By 15:30, the BCB will send an inquiry to an institutional email of the financial entity in which the interested party holds national currency funds, so that by 16:00 the financial entity confirms and reserves these funds. 3.2 By 18:00, the BCB will debit the national currency account of the financial entity. 3.3 On the next business day, the BCB will credit the USD account of the financial entity, for credit to the specific account of the client.
-
For modalities 2.1.2, 2.1.3, 2.2.2, and 2.2.3, if the financial entity does not have national currency funds in its current account and reserve account, reserve account, or current account by 15:00, its request will be rejected and it will be suspended from participating in the Bolsin sessions for five (5) business days.
Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia 2
External Circular SGDB No. 031/2012 of June 15, 2012, and all provisions contrary to this Circular are hereby repealed.
The External Operations Sub-management of the BCB will handle inquiries regarding this Circular (Telephone 2409090 Extensions 1802, 1808, or 1811).
Sincerely,
Ayacucho y Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia 3