The BCRA has made the mechanisms for opening bank branches more flexible by means of Communication A 5983, with the aim of promoting the development of the financial system and employment creation in the sector.
The new rules, which will create a more competitive framework, means that no prior authorization will be required for the opening of branches. This process could sometimes take more than a year.
Now a number of objective factors regarding solvency, liquidity and minimum capital requirement, among others, are to be considered.
If such requirements are fulfilled, a bank will be able to open a branch.
In addition, the BCRA relaxed building-related requirements for opening branches in thinly populated areas, aiming at expanding the financial system with a federal approach.
Another important aspect of the regulation is the expansion in the use of mobile branches, such as those used in holiday resorts during the summer season.
To date, this was limited to public banks or private banks acting as provincial fiscal agents.
If such requirements are fulfilled, a bank will be able to open a branch.
In addition, the BCRA relaxed building-related requirements for opening branches in thinly populated areas, aiming at expanding the financial system with a federal approach.
Another important aspect of the regulation is the expansion in the use of mobile branches, such as those used in holiday resorts during the summer season.
To date, this was limited to public banks or private banks acting as provincial fiscal agents.
With these measures, the BCRA promotes the development of the financial system throughout the country within a competitive environment, one of the essential pillars of its project.
At the same time, the BCRA creates new sources of employment and facilitates access to bank services for segments of the unbanked population.
