The Sanctioning Unit is a unit of measurement used by the BCRA to establish the amount of sanctions that it can impose on financial entities and other participants in the financial system.
These criteria must necessarily be applied in accordance with the circumstances of the case, the applicable general principles of law and the constitutionally recognized guarantees, preventing arbitrary discrimination.
Mariano Fuchila
He Central Bank of the Argentine Republic (BCRA) established the value of the Sanctioning Unit for the entire year 2024 in the sum of $1,700,000 (pesos one million seven hundred thousand).
The Sanctioning Unit It is a unit of measurement used by the BCRA to establish the amount of sanctions that it can impose on financial entities and other participants in the financial system.. The value of the US is updated annually, and the Communication “A” 7944/2024 establishes that the value for the year 2024 will be $1,700,000. It should be noted that the value of the US in 2023 was set in January of that year at $600,000, which is why it presented an increase of more than 100%.
In addition to establishing the new value of the Sanctioning Unit, the communication also updates some denominations of ordered texts contemplated in Section 10 of the BCRA. Sheets are also incorporated to replace those timely provided, in the regulations on “Minimum cash”, “Financing to the non-financial public sector”, “Credit management”, “Spot operations to be settled and term, repos, sureties, other derivatives and with common investment funds”, “Minimum provisions for risk of bad debt”, “Protection of users of financial services” and “Truthfulness of accounting records”.
Finally, the text refers to circumstances and exceptional cases in which the BCRA resolution body may apply criteria that deviate from what is provided in the disciplinary regime.
In particular, the adjudicatory authority may mitigate or aggravate sanctions in a duly justified manner, among others, in particular cases that may have characteristics that do not fall within this rule.
The criteria applied in these exceptional cases must necessarily respect the circumstances of the case, the general principles of law applicable and the constitutionally recognized guaranteespreventing arbitrary discrimination.
Circumstances and exceptional cases
Only in exceptional cases may the resolution body apply criteria that deviate from the provisions of this regime, mitigating or aggravating the sanctions in a duly founded manner.
These criteria must necessarily be applied in accordance with the circumstances of the case, the applicable general principles of law and the constitutionally recognized guarantees, preventing arbitrary discrimination.
Source: Ambito
