Within the compulsory lockdown established by the Federal Executive Branch between March 20 and 31, the BCRA established—through Communication A 6942—that financial institutions shall be closed to the public during this period. Financial institutions must continue providing services on a remote basis, such as time deposits, financing and payment system services.
The BCRA has further guaranteed the provision of cash so that banks adopt all necessary measures—including human resources—to ensure the availability of banknotes in ATMs and non-bank withdrawal points.
During this period there will be no electronic clearing of checks. It will be resumed on April 1, 2020. For the calculation of the expiration of the 30-day term for the submission of checks, May 25 and 26 shall not be taken into account.
Financial and foreign exchange institutions may carry out transactions among them and their customers at the forex market on a remote basis. The BCRA shall ensure that forex transactions in the wholesale segment and LELIQ auctions may be carried out through SIOPEL electronic trading system.
In line with these measures and to ensure the smooth functioning of the financial system, electronic clearing houses, electronic means of payment, ATM networks, electronic fund transfers, debit and credit card administrators, electronic means of payment acquirers and processors, payment service providers, and related providers, and all the market infrastructures necessary for financial institutions and payment systems to provide services shall remain in operation.
Stock exchanges and capital markets authorized by the National Securities Commission (Comisión Nacional de Valores, CNV), Caja de Valores, and capital market agents authorized by the CNV may operate remotely.
Banks shall be closed to the public and shall provide services on a remote basis. The availability of cash in ATMs shall be guaranteed.
