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The Central Bank denied versions of deposits in dollars


During the weekend, analyzes of alleged accounting studies that spoke of a “hidden corralito” based on a Central Bank rule that regulated something totally different were circulated on social networks. REUTERS / Agustin Marcarian

The Central Bank decided to react to versions that circulated on social networks and messaging services that warned about the risk of a “hidden corralito” because he understood that the dissemination of these false messages was aimed at generating a bank run.

The decisions made by the Central Bank last week regarding the exchange position of financial institutions have no effect on deposits in dollars. in the system or with the assets that support them, “said sources of the entity to this medium.

“Banks must have a neutral exchange position, precisely the deposits being a liability for the entities must have backing in investments in that currency. All foreign currency deposits have assets in the same currency that back them, ”added the same source.

“The decisions made by the Central Bank last week regarding the exchange position of financial institutions have no effect on dollar deposits”

“Further, There is a specific regulation with more than 20 years of validity that particularly requires that deposits in dollars be backed with assets in dollars.yes, ”he added.

Financial entities also have record liquidity in dollars and pesos.

Through a statement, the entity that leads Miguel Pesce He responded in this way to apocryphal versions that emerged on social networks and were communicated from user to user in instant messaging systems.

The Central Bank denied versions of deposits in dollars
The president of the Central Bank, Miguel Pesce.

The false version, attributed to a Salta accounting study, mentioned two recent communications from the Central Bank, A 7405 and A 7407, which, the apocryphal text argued, put the dollar deposits of savers at risk.

The warning was not taken into account by analysts, since 7407 is the one that refers to the financing in installments of trips abroad and that made noise last week. And 7405 refers to holdings of foreign currency that are owned by banks, not those of depositors.

“There is a specific regulation with more than 20 years of validity that particularly requires that deposits in dollars be backed with assets in dollars”

“The cash position provided for in (…) the rules on global net foreign currency position may not exceed the amount equivalent to 0% of the computable equity liability (RPC) for the month prior to the corresponding one,” said the statement that forces banks to dump dollars from their spot position. The BCRA adjusted the global net foreign currency position many times in recent years, either to force banks to sell their own dollars or for other monetary policy purposes.

Despite the lack of support for the information, the text circulated widely through networks and instant messaging services and, apparently from the Central Bank, it deserved an official clarification.

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