ARG CB Deposit, Investment and Card

On May 12, ARG CB issued rules for deposits, term investments, card.

  • ARG CB issued circular OPRAC 1-1148, OPASI 2-660 on deposits, term investments.
  • Financing line for productive investment of MSME, interest rates on credit operations.
  • Follows ARG CB Apr. 2022 time deposits, investments, firms financing, see #132909.
  • Overview
  • Replaces with as of May 13, 22 inclusive applicable percentages for setting minimum rates for deposits captured from that date of rules on Term deposits and investments.
  • For point is 97.96% and 93.87% for point; sets, from same day, 0.8776 coefficient determining fixed rate of prepayment of deposits with option of early cancellation in Purchasing Value Units (UVA) regulated in pt 2.8 of same rules.
  • Increases as of May 13 to 37% annual nominal rate of pt 5.1.1 for financing agreed.
  • Increases to 47.50% nominal annual fixed rate of point 5.1.2. of regulations on Financing line for the productive investment of MSMEs also as of May 13, 2022.
  • Effective for Jun. 2022 billing cycle, 53% annual nominal value set as limit on compensatory interest for financing linked to credit cards applied by financial entities.
  • Established in para 1 of pt 2.1.1 of regulations on Interest rates in credit operations.
  • Provided financial entities notify such limit change to cardholders prior to application.
  • Effectiveness
  • All changes effective as of May 13, 2022; replacement pages included in annex.
  • May 2022 Official Publication
  • On May 16, 2022, ARG GVT published circular OPRAC 1-1148, communication A 7512.

Regulators ARG CB; ARG GVT
Entity Types Bank; BS; CNSM; Corp; CU; Inv Co; MSB; Thrift
Reference OG, Com A 7512/2022, 5/16/2022; Cir OPRAC 1-1148, OPASI 2-660, Com A 7512, 5/12/2022
Functions Compliance; Financial; Legal; Operations; Product Administration; Treasury
Countries Argentina
Products Banking; Cards; Deposits; Wealth Mgt
Regions Am
Rule Type Final
Rule Date 5/12/2022
Effective Date 5/13/2022
Rule Id 137671
Linked to Rule :132909
Reg. Last Update 5/16/2022
Report Section International

Last substantive update on 05/17/2022