The National Securities Commission modified the holding terms of the bonds that are usually used to operate the dollar “counted with liquidation”
By iProfessional
10/04/2023 – 20,16hs
The National Securities Commission (CNV) ordered this Monday afternoon to modify the implementation of new periods of permanence in the portfolio of public securities, with settlement in currency and foreign jurisdiction, establishing differences with respect to negotiable securities, according to the law under the which have been issued. The new parking terms of the titles will affect the operation of the dollar counted with liquidation (CCL), which is normally used to withdraw dollars to accounts abroad.
In a statement, the CNV stated that “starting tomorrow, Tuesday April 11, and within the framework of Necessity and Urgency Decree No. 164/2023, it is established that the minimum period of stay in the portfolio will be one day for marketable securities issued under Argentine law, and three days in the case of negotiable securities issued under foreign law“.
The measure was adopted through the approval of the Board of Directors of RG 957, which will be published tomorrow in the Official Gazette.
CCL dollar: what changes with the new parking
The regulation modifies the terms in force up to now, by increasing by one day (from 2 days today to 3 days as of tomorrow), the holdings for global bonds cast under foreign jurisdiction.
while decreases in 1 day (from 2 days today to 1 day from tomorrow), the holdings for the issued securities under local law (bonares, Ledes).
In this way, there is a significant difference in parking times between the different types of vouchers, which will favor those issued under local legislation.
The CNV’s resolution indicates that these minimum holding periods will not be applicable in the case of purchases of negotiable securities with settlement in foreign currency and in a foreign jurisdiction.
Meanwhile, the modifications will not affect the operations of the MEP dollar.
