The BCRA hardened the lace regime from next Monday to aspire more pesos, while reinforcing control over the foreign currency position of the banks.
He Central Bank (BCRA) This Thursday decided to change some regulations in order to harden the lace system that weighs on the banking systemwith changes that will govern from next Monday, August 18 and that will directly impact liquidity. The measure, formalized through communication “A” 8302, also reinforces Control over the net global foreign currency position of the entities.
According to the BCRA, From August 19 to November 28, Lace rates Applicable to sight deposits, fixed deadlines with daily early cancellation, common money market, passive passes and passive stock markets They will increase by 5 percentage points for the main banks and certain branches or subsidiaries of the main global banks.
Besides, The BCRA will allow part of this additional requirement to be integrated with public titles in pesos issued by the National Treasuryprovided they are acquired in special tenders as of August 18. All entities, since August 19, They can integrate up to 3 percentage points of lace with this type of instruments for sight deposits.
In turn, there will be a new way to calculate the lace in pesos from Monday of next week. Now it will be calculated more strictly Since the monthly average will not be used, but 100% of the lace will be required every business day. Despite this, it will be considered that if the banks do not meet one day, they can compensate it on other days of the month, but with certain limits.
They were also reported more expensive fines for banks if they do not comply with this regulation. If a bank does not comply with the lace or passes in its dollar position, You must pay a more expensive fine that will now be the monetary policy rate of the BCRA (La Tamar) three times. In turn, during this period, the lace rate for certain deposits is uploaded in 5 percentage points if the banks do not comply. Which implies that, if the bank does not use treasure titles, pay more lace.
Besides, The monetary authority reinforced control over the Net Global Foreign Currency position (PGNME) of financial entities. Although it did not modify the limits in force for this indicator, it arranged that, as of August 18, any excess on the established top will be subject to a charge in pesos equivalent to three times the wholesale rate of Argentina (tamar) of the banks, according to the current methodology.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
