Within the framework of the battery of measures that the Government announced this Wednesday to try to contain the escalation of the dollar, the National Securities Commission (CNV) repealed the ban on Settlement and Clearing Agents (ALyCs) operate with bonars.
This regulatory change implemented by the CNV was one of the claims that the representatives of the banks and financial entities transmitted this Wednesday morning to the Minister of Economy, Sergio Massa, during a working breakfast to which they were summoned.
During that meeting, Massa disclosed the details of the DNU, published later, which obliges public bodies to dispose of their holdings of bonds in dollars to contain the pressures on financial currencies and absorb pesos.
A Settlement and Clearing Agent (ALyC) is a company that acts as an intermediary between investors or companies and the markets. They have the authorization of the CNV to be able to operate. This entity is also responsible for supervising the movements of the ALyC.
Through the DNU to which he had access Ambitwhich bears the signature of Alberto Fernandez and the ministers of his Cabinet, the State seeks to take pressure off the currency in the midst of a new escalation of the blue dollar.
In this way, public entities are ordered to exchange their bonds in dollars under foreign law (global or GD) for instruments in pesos under local legislation.
The total amount covers about US$4,000 million. In addition, it will proceed with the incorporation of dollar bonds under local law (bonares or AL) in the CCL dollar operation.