Uruguay: Immobilisation of funds for investment: update

09.10.2014

Cash reserve requirements for non-resident investors have been updated as follows:

SecurityOld cash reserveNew cash reserveEffective date
Treasury notes in Uruguayan Pesos50%0%06/10/2014
Treasury notes in Uruguayan Index units50%0%06/10/2014
Treasury bills in Uruguayan Pesos50%30%01/11/2014
Treasury bills in Uruguayan Index units50%30%01/11/2014

As a consequence, Clearstream Banking1 may accept those securities that are no longer subject to cash reserves, provided they meet the other eligibility criteria of Clearstream Banking.

Background:

These changes were announced in the Circular 2.202 issued by the Central Bank of Uruguay on 3 October  2014 (available in Spanish here).

Please also refer to announcement M13030 dated 21 June 2013.

1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).