BCRA Boosts Floating Rate Deposit Taking

The Board of the BCRA adopted the resolution to change the determination of net global position in foreign currency in order to encourage floating rate deposit taking for the pre-financing of exports with no currency mismatching.

Under this resolution, pre-financings of exports involving dollar-linked liabilities may be deducted in order to calculate the net spot global position in foreign currency. Thus, financial institutions can offer dollar-linked savings instruments, and grant dollar-linked loans to exporting companies, creating a new market for savings in pesos.

September 10, 2020.