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CNV: BOPREAL will be exempt from restrictions that weigh on other assets

CNV: BOPREAL will be exempt from restrictions that weigh on other assets
February 5, 2024 – 20:47

The Board of the National Securities Commission (CNV) exempted the BOPREAL from certain restrictions on operations in negotiable securities with settlement in foreign currency, unified the maximum daily amounts of operations and repealed the restrictions for the ALYCs’ own portfolio.

CNV: BOPREAL will be exempt from restrictions that weigh on other assets

The Board of Directors of the National Securities Commission (CNV) exempted BOPREAL from certain restrictions on transactions in negotiable securities that are settled in foreign currency. In addition, it unified the maximum daily amounts of operations and repealed the restrictions for the ALYCs’ own portfolio.

Following the measures adopted by the BCRA through Communication “A” 7918, the CNV through RG 990 decided to the modification and repeal of certain requirements and limits in relation to the operations of purchase and sale of negotiable securities with settlement in foreign currency.

In this regard, the president of the CNV highlighted “we are committed in the short term to promoting measures for the normalization of the market and BOPREAL is one of the market instruments provided by the BCRA to regularize the debt of importers”.

The modifications are aimed at except negotiable securities issued by the BCRA (BOPREAL) with regards to Compliance with the minimum portfolio holding period to process issuing transfers to foreign depository entities of such negotiable securities acquired with settlement in national currency.

On the other hand, conditions and limits are unified, raising to 200 million per day for operations and transfers of negotiable securities abroad, excepting the BOPREAL from the limits and information regime prior approval required both to process issuing transfers to foreign depository entities and to arrange their sale in the country with settlement in foreign currency.

In this case, as long as, such negotiable securities would have been acquired in a placement or primary bidding process and for up to the total nominal value thus subscribed of said species.

Besides, The specific requirements and conditions required for the conclusion and settlement of operations are repealed in their entirety. with negotiable fixed income securities nominated and payable in US dollars issued by the Argentine Republic and with Argentine Deposit Certificates (Cedear), by those subaccounts covered by the concept of own portfolio and that are qualified investors.

Source: Ambito

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