The Central published a new regulation that limits the management of foreign exchange of financial entities. What does the measure imply?
He Central Bank (BCRA) launched new restrictions for currency management by banks with the objective of contain pressures on the dollar. The measure, which took the City by surprise, sum Another brick to the wall of regulations on the financial system which implemented the economic team to control the exchange market before the elections.
The main changes of these regulations are that as of December of this year, Banks must comply with the limits of their net negative position in foreign currency. Besides, That position may not exceed 30% of your computable patrimonial responsibility and may not increase the last business day of the month against the previous day.
But to explain point by point the changes, it must be highlighted that The Net Global Foreign Currency position (PGNME) is the balance in dollars that banks have. One of the changes made by the BCRA is that From December 1 of this year, banks must calculate their negative position in dollars every day.
The second change, also in force as of the last month of the year, is that The negative position in dollars may not exceed 30% of its regulatory assets (RPC). And the third change and in this case applicable since this month is that The negative position in dollars that a bank cannot increase month by month.
Source: Ambito
