10/14/2021 | Press release | Distributed by Public on 10/14/2021 02:13
Clearstream Banking1 would like to inform customers that the National Securities Commission (CNV) published Resolution 907/21. Effective
there are new requirements in the local market for securities transactions with settlement in foreign currency or the transfer of securities to and from ICSDs.
In addition, a weekly limit of nominal value of 50,000 has been established for transactions of securities denominated and payable in US Dollars (USD) issued by the Republic of Argentina under Argentinean law and settled in a currency different than Argentine Peso (ARS).
The monitoring of the limit is made by the local brokers and custodian banks.
The regulation states that in order to book securities transactions against foreign currency or transfer securities to and from ICSDs, the investor will need to provide a sworn declaration to the local brokers and /or custodian banks stating that:
Customers should be aware that local brokers/custodians may ask for a sworn declaration before being able to book transactions against foreign currency of Argentina bonds under local law or transfers to ICSDs.
There is no impact to the current CBL operations.
External against payment transactions in ARS remain suspended until further clarification from regulators.
Alternatively, Clearstream Banking customers can settle external transactions on a free of payment basis.
Internal and Bridge transactions are open for settlement in ARS.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.