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one by one, all the restrictions that were released for BOPREAL holders


February 6, 2024 – 07:24

The CNV exempted the Bonds for the Reconstruction of a Free Argentina (BOPREAL) from restrictions on operations of negotiable securities with settlement in foreign currency

It’s official. With the publication in Official bulletin through General Resolution 991/2024, the National Securities Commissionyes (CNV) exempted the Bonds for the Reconstruction of a Free Argentina (BOPREAL) from restrictions on operations of negotiable securities with settlement in foreign currency, unified maximum daily amounts of operations and repealed restrictions for ALYCs’ own portfolio.

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

In this way, the regulation is implemented with an “extraordinary and transitory nature” with the objective of continuing with an orderly process of easing of restrictions in relation to operations of negotiable securities with settlement in foreign currency and in response to the prevailing economic-financial context and the aforementioned measures adopted by the BCRA.

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 the BOPREAL is one of the market instruments arranged by the BCRA to regularize the debt of importers”.

CNV

The modifications are aimed at exempting negotiable securities issued by the BCRA (Bopreal), with its amending and concordant amendments.

The modifications are aimed at exempting negotiable securities issued by the BCRA (Bopreal), with its amending and concordant amendments.

BOPREAL: what are the modifications

The modifications are aimed at exempting negotiable securities issued by the BCRA (BOPREAL), with its amendments and concordances, with regard to compliance with the minimum holding period in the portfolio to process issuing transfers to foreign depository entities of such negotiable securities acquired with settlement in National currency.

On the other hand, they unify conditions and limits, raising to 200 million daily for operations and transfers of negotiable securities abroad, also excluding the aforementioned BOPREAL from the limits and prior information regime required both to process issuing transfers to foreign depository entities.

At once The operation to arrange your sale is facilitated in the country with settlement in foreign currency, to the extent that such negotiable securities had 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 agreement are repealed in their entirety. and settlement of operations with negotiable fixed income securities nominated and payable in US dollars issued by the Argentine Republic and with Argentine Certificates of Deposit (Cedear), by those subaccounts covered by the concept of own portfolio and that are considered investors qualified.





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