From Project-Syndicate By JOSÉ ANTONIO OCAMPO and KEVIN P. GALLAGHER October 6, 2014 NEW YORK – As...
Law No. 1488 of 1993 on Banks and Financial Entities
(amended through 2008)
Law No. 1488 of 1993 on Banks and Financial Entities is the core banking law in Bolivia.
Among other provisions, this law covers:
- how banks are to be structured;
- capital and reserve requirements;
- oversight mechanisms;
- permitted activities;
- limitations and prohibited activities;
- regulations concerning companies providing auxiliary financial services as well as financial intermediaries;
- oversight mechanisms and sanctions; and
- creation of the superintendency of Banks and Financial Institutions.
Included at the end of this document are Law No. 3076 of 2005 (amending articles 125, 127, 129, 131 pertaining to dissolution, and article 154 pertaining to the functions of the Authority of Supervision of the Financial System (ASFI)) and Law No. 3892 of 2008 (amending article 1 pertaining to the definition of institutions and articles 69, 70, 72, and 73, pertaining to non-banking financial intermediaries). These amendments can also be found as separate documents under “Related Amendments”.