Time deposits and investments: spot and forward transactions, repos, collateralized loans, other derivatives and mutual investment funds - Communication A 7027 adaptation

2020 - YEAR OF GENERAL MANUEL BELGRANO

COMMUNICATION “A” 7034
04/06/2020

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
OPASI 2 - 602
OPRAC 1 - 1035

Time deposits and investments. Spot transactions to be settled and forward transactions, repos, collateralized loans, other derivatives and mutual investment funds. Communication “A” 7027. Adaptation. ____________________________________________________________

We address you to inform you that this Institution adopted the resolution that, in its pertinent part, establishes:

“- Replace point 3. of Communication “A” 7027 with the following:

“Expand, from 1.6.2020 and for financial institutions that take deposits at the minimum passive rate established in point 1. of this Communication, the admitted excess net position of LELIQ established in point 8.2.2. of the rules on “Spot transactions to be settled and forward transactions, repos, collateralized loans, other derivatives and mutual investment funds” by the amount equivalent to 18 % of time deposits and investments in pesos constituted by the non-financial private sector and by the National, provincial, Autonomous City of Buenos Aires and/or municipal governments –in the case of official placements, only those that have paid a rate not lower than the minimum–, measured as a monthly average of daily balances of the previous month.”

Subsequently, we will send you the pages that, replacing those previously provided, should be incorporated into the referenced rules.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Matías A. Gutiérrez Girault
Issuance Manager of Rules

Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications