New Central Bank Regulations for Financial Trusts

On December 19, 2024, the Argentine Central Bank (BCRA) issued Communication "A" 8160, which allows trustees of financial trusts with public offerings to access to the foreign exchange market to pay their debt securities, if they meet these requirements:

1. their debts must be denominated and subscribed in foreign currency,

2. payments of principal and interest must be made in foreign currency in Argentina.
 

All funds obtained from the issuance of these instruments must be settled in the foreign exchange market.

Until now, access to the foreign exchange market was only permitted for paying principal and interest on secured notes or promissory notes.

The BCRA publicly stated that this measure aims to “promote the use of instruments that allow individuals to channel their savings in USD within a framework of currency competition.”