Despite the extension, there is a certain consensus in the market that The worst of the laundering of dollars in cash has already happened, so that in the time that remains now until October 31 when the first stage ends, the externalized volume would not be reached in the initial period. It would serve to join those lagging behind due to operational issues and for those who were not defined in the first stage to do so now.
From Adcap Financial Group They indicated to Ámbito that the extension “may not be as successful, because in principle, the date was expected to end on September 30, so the majority rushed to do it before that deadline.”
“With the extension, more dollars can be added, but the “most of it already happened in September,” They explained from the stock exchange company.
Similarly, a major market operator commented that “The extension was decided more than anything to give time to those who were left out due to operational issues and at the same time, to incorporate those who had not yet decided.”
“The large numbers were already closed. What may have happened is that someone delayed entering the closing, but “The logical thing would be for the volume to go down,” explained.
Laundering: how many dollars are deposited
According to data from the Central Bank, The amount of deposits in dollars grew between September 2 and the 27th of the same month by US$11,321 million. The stock started with US$19,618 million and until the time of the last data provided by the entity it was US$30,939 million. It is estimated that the majority of this growth is due to bleaching.
The figure is much higher than initially expected by the market. In most cases, these involve laundering of less than US$100,000, and therefore, exempt from paying the special tax. As Ámbito pointed out, 70% would correspond to this type of deposits, which are authorized to withdraw their money right now. If they do so, they will not be able to regularize further. If they launder something else in the same account during October, they will be able to withdraw what they declared last month, but they will not be able to declare more dollars again.
A report of BDO accounting study pointed out a few days ago that 7 out of every 10 people who laundered dollars planned to withdraw them from the Special Asset Regularization Accounts (CERA).). For the Government, in any case, the important thing would be that they remain within the financial system in savings accounts or fixed terms, in order to strengthen international reserves.
In the market it is estimated that another important figure could have entered during Monday, September 30, with which The final result for September would be slightly above US$12 billion. A figure of that magnitude is ruled out being repeated during the extension.
The BNA continues opening CERA accounts
To all this, the Banco Nación reported that the opening of special accounts continues. “In the first stage of the laundering program, the entity has reached record figures in the number of new accounts opened, exceeding initial expectations and registering 16,000 openings of CERAs”it was indicated in an official statement. The estimates of the private banks is that some 100,000 accounts were opened throughout the system.
“The registration process for these accounts is a key step for people to physical and legal entities regularize their tax situation, it is not subject to the acquisition of any other product or service from the Bank and allows users to manage their assets, within a regulatory framework that guarantees transparency and protection of funds,” said the BNA.
The most important financial entity in the country indicated that receives “small face” dollars and those that have writings, signs, seals, logos, stripes or any small markso he stated that “it is a great opportunity to get rid of damaged banknotes.”
Source: Ambito
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