The Central Bank (BCRA) lowered the cross restriction for investors not residing in the exchange market and the elimination for the minimum period of six months was confirmed.
He Central Bank (BCRA) eliminated the Cross restriction for not residents to operate in the official and financial exchange market, while The elimination of the minimum period of six months of permanence (parking) in local assets was confirmed. This was reported by the monetary authority through the Communication “A” 8257, which enters into force this Friday, June 13.
Cross restriction implies that those investors who operated in the CCL dollar, For the next 90 days, they cannot go to the free market (MLC).
What is the official argument to raise this restriction? Sources close to the government explain that Resident investors do not currently have stock in sovereign debt, which does not make the norm sense. What does cross restriction for the rest of the market actors is take care that importers and companies, that have pending profits and debt, Do not use the “two lanes” of the exchange square.
In this way, Financial entities are enabled to carry out “non -resident fund repatriations, provided they conform to the provisions of point 3 of communication to 8230 and complementary standards. This normative flexibility It is integrated into the current regulatory framework, “says the text of the BCRA.
Days ago, within the battery of ads made by the BCRA and within the framework of the external indebtedness program, The end of the minimum permanence period of financial investments from abroad was determined.
Specifically, now the Central Bank eliminated the restriction of the six months of permanence of assets in portfolio for non -resident investors that access the MLC by primary subscription or secondary market.
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.
