Request Financial Institution Class Transformation
Procedure for submitting to the Central Bank of the Argentine Republic (BCRA) the necessary documentation in order to request prior authorization for a financial institution to change class.
What is it?
It is the procedure by which a financial institution requests prior authorization from the Central Bank of the Argentine Republic (BCRA) to transform its class, in accordance with the provisions of the ordered text of the rules on “Authorization and composition of the capital of financial institutions” and the complementary regulations.
Who is it for?
To financial institutions (legal entities) authorized by the BCRA that require to transform their class, in accordance with current regulations.
Modality
Online and Ticket Desk Procedures:
– Upload the information and supporting documentation through the form available on this page.
– Subsequent formal presentation by means of a note addressed to the BCRA, through the Entry Desk, by email or in person.
Value of the procedure
Free procedure.
What is needed?
Corporate and management documentation
– Minutes of the extraordinary meeting or competent corporate body that approves the class transformation of the financial institution.
– Report from the administrative body that substantiates the request for transformation, describing:
- · the reasons for the transformation,
· the organisational changes that are required,
· the impact on the entity’s activity, and
· the business plan planned after the transformation.
– Draft statutory reforms, if applicable, in line with the new type of entity.
– Demonstration of the integration of the minimum capital required for the new class, with the detail of the capital contributions made and/or committed.
Capital contributions and manifestation of assets (when applicable)
– In the event that additional capital contributions are required, submit the documentation and information provided for in point 6.3 of the Harmonized Text on “Authorization and composition of the capital of financial institutions”.
– Submit the Manifestation of Assets of the obligated persons through the Personal History Formula (FAP), as detailed in the procedure Generate the Personal History Formula (FAP).
Entity authorities (when there are changes)
– In the event of a change in the composition of the board of directors, general management, deputy general manager in charge of the general management, auditor or other administrative or supervisory bodies, complete the required information through the Evaluation of authorities of financial institutions, using the applications and forms provided for this purpose (including the APAEF application when applicable).
Other documentation
– Any other information and/or documentation that the current regulations require for the type of entity requested, or that the BCRA deems necessary for the analysis of the request.
How is it done?
1. Prepare the documentation
– Gather the corporate and management documentation that supports the class transformation.
– Prepare the business plan associated with the new type of entity, with the quantitative and qualitative information required by the regulations.
– Prepare the draft of statutory reforms, if applicable.
– In case capital contributions are required, prepare the information provided for in point 6.3 of the Ordered Text of “Authorization and composition of the capital of financial institutions” and the Manifestations of Assets through the Personal Background Formula (FAP), as detailed in the procedure Generate the Personal Background Formula (FAP).
– When there are changes in the authorities, complete the necessary information through the Evaluation of Financial Institution Authorities procedure, in accordance with the applicable regulations.
2. Upload the information and documentation to the online form
– Access the form available on this page for the “Request for transformation of the class of financial institutions”.
– Complete the required data of the entity and the transformation request.
– Attach the documentation in PDF format, complying with the following technical conditions:
- * maximum size per file: 50 MB,
* Recommended resolution: 150–200 dpi,
* Avoid file names with special or repeated characters.
– Verify that the information and files are complete, without omissions or errors.
– Send the form.
3. Wait for the Central Bank’s review
– The Authorisation Management reviews the information and documentation uploaded.
– If necessary, additional information or documentation can be requested.
– Once the preliminary analysis has been completed, a communication is sent to the informed mailbox indicating whether it is appropriate to move forward with the formal presentation to the BCRA.
4. Submit the formal note through the Ticket Desk
– Once the indication from the Authorisations Management has been received, submit a note addressed to:
“Management of Authorizations – Superintendence of Financial and Exchange Entities (SEFyC) – Central Bank of the Argentine Republic”.
– The note must be signed by the person who legally represents the financial institution and must:
- * request authorization for class transformation,
* refer to the documentation uploaded in the online form,
* Declare that the information presented is truthful and complete, in accordance with current regulations.
– Submit the note through the BCRA Entry Desk , by email to: mesadeentrada@bcra.gob.ar or in person at the headquarters of the Central Bank, at the indicated time.
Financial Institution Authorization Management | gerencia.autorizaciones@bcra.gob.ar
Subgerencia de Autorización de Entidades Financieras | subgcia.autorizacion.ef@bcra.gob.ar
Related information
Ordered text on Authorisation and composition of the capital of financial institutions.
Consolidated text on Authorities of financial institutions.
Other complementary rules that are applicable to the type of entity requested.