Argentina: Currency controls and foreign exchange regulations measures - update

05.09.2019

Note: This Announcement, originally published on 2 September 2019, has been updated to emphasise the restrictions applicable to Clearstream Banking customers. The changed sentence has been highlighted.

Clearstream Banking1 informs customers of the modifications introduced by the Argentinian Government (Decree No. 609/2019) and the Central Bank of Argentina (Communication “A” 6770)  on foreign exchange regulations, applicable to foreign investors in Argentina.

Effective

1 September 2019

and until 31 December 2019, modifications were introduced on the repatriation of funds. Specific limits on the repatriation of funds have been fixed as well as the need to obtain prior authorisation from the Central Bank to access the foreign exchange market.

Impact on customers

Clearstream Banking’s FX service is with immediate effect and until further notice, no longer available.

Further information

Clearstream Banking will continue to monitor the Central Bank regulations via its local Cash Correspondent Bank, Citibank Argentina N.A., Buenos Aires and will keep customers informed with any relevant updates.

The Market Link Guide - Argentina and the CBL Customer Handbook will be updated to provide additional information on these new measures.

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.


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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.