The condition is that banks achieve financing from negotiable obligations (ON) or foreign credit lines. On the contrary, Currencies will not be able to get out of people’s deposits.
From the BCRA they stated that “the objective of the standard is to make credit in foreign currency always within the prudential macro framework established by the Basel standards” and noted that “The decision is made in a context of credit expansion and development of the capital market“
However, they clarified that “The restriction established by article 23 of Decree 905/2002 is still valid whereby financial entities can only provide customer deposits to companies that have foreign currency funds from directly or indirectly foreign trade operations. “
Before the scope consultation, Guido ZackDirector of Economy of Fundar, explained that with this measure the central allows “companies that so far had access to dollars in dollars, can access.” As for potential risks, he warned that this can generate a barefoot since “A company that does not generate currencies and requests a loan in foreign currency, in front of a devaluation will not be able to pay“
The economist said that, although the decision has some care in macro terms, There is a risk that these credits spread enough to generate a financial problem, since net reserves are negative. “That instead of eventually going against the deposit, it will go against the capital of the bank. If the devaluation, the amounts provided and the bank are large enough, there may be strong instability in the financial system as a whole,” he warned.
Credit in dollars grows strong
In January, dollars had a monthly increase of 17.8%, while in annual terms they jumped 233.5%. The stock of this type of loans is US $12,743 million. Commercial loans were the line that promoted this growth at the beginning of 2025; From First Capital Group they stressed that Entrepreneurs chose foreign currency financing Instead of that in pesos, in a context of exchange appreciation and rates in positive local currency in real terms.
In parallel, card spending by card marked a record since 2002, due to Tourism abroad and the adequacy of the exchange rate for cancellation of card balances.
Source: Ambito
