BCRA Communication “A” 7082

August 6, 2020 – Banco Central de la República Argentina (BCRA) issued the Communication “A” 7082 which establishes that entities must grant the “Subsidized Rate Credits for Companies” provided for in Decree No. 332/2020 to all companies that request them, and are included in the list of beneficiaries disclosed by the AFIP. Reduce the minimum cash requirement in pesos by an amount equivalent to 60% of the sum of said financing. Exclude from the minimum passive rate regime on “Time deposits and investments” clients who are debtors of the zero rate financing. Likewise, while they have said financing, they will not be able to access the exchange market to carry out operations corresponding to the formation of foreign assets of residents, remittance of family assistance and derivatives, nor arrange sales of securities with settlement in foreign currency or transfer them to foreign depository entities.

Jurisdictions affected: Argentina

For more information, visit Banco Central de la República Argentina.

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