COVID - 19 Operation of Financial Institutions

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OPERATION OF FINANCIAL INSTITUTIONS


On March 24, 2020, the Argentine Central Bank issued Communiqué "A" 6944, modifying some of the measures provided by Communiqué "A" 6942, which regulated certain aspects related to the operation of financial institutions during the health emergency.

 

In this sense, the Communiqué established the following measures:

1. Financial institutions may continue to render the services they usually render remotely, such as constitution of fixed-term deposits, granting of financing and services related to the payment system; and accreditations of cash deposits by automatic teller machines, self-service terminals, money transportation companies, deposit mailboxes and by the agreed means in the case of cash deposits for larger amounts made by clients in the following sectors (i) wholesale markets and supermarkets and local retailers, pharmacies, hardware stores, vets and gas tank provision; (ii) public passenger transport, transportation of goods, oil, fuels and LPG; and (iii) operation and maintenance of oil and gas fields, oil and gas treatment and/or refining plants, transportation and distribution of electrical energy, liquid fuels, oil and gas, fuel stations and electric power generators.

2. Electronic check clearing shall resume as from March 26, 2020. The period from March 20 to March 25, 2020, during which electronic clearing was suspended, shall not be counted for the purposes of the 30-day-period for presentation for collection of checks.

Should you need further information, please contact María Victoria Funes and/or María Victoria Tuculet.