Central Bank Updates Payment System Warranty Regime

The Argentine Central Bank (BCRA) issued Communication “A” 8236 on April 30, 2025, updating the regulatory framework surrounding the warranties established in the consolidated text. This amendment deepens the operative and regulatory framework for handling guarantees.

Some of the main regulated aspects include:

• Electronic clearing houses (CEC) may now open special guarantee accounts destined for each member institution, in different types of currency, and with specific ownership and denominations according to the type of transaction cleared (checks, transfers, DEBIN, cards, vouchers, etc.).
• These accounts will not allow issuing checkbooks and may only be used through transfers the CEC authorizes, using the IDEAR system.
• Funds credited to these accounts will not have restrictions as to their origin, and debits will only be made to the CEC’s or the institution’s operating accounts.
• Special guarantee accounts may qualify for integrating the minimum cash limit.
• Cross-settlement procedures may be implemented for guarantees between different products, with an order of priority to apply balances if there is default.
• The role of the Clearing House Committee will be formalized. The Committee may act when there is operational risk or lack of coverage and will be vested with powers to temporarily exclude entities from the clearing system, prior evaluation and formal notification.
• A protocol will be established for excluding financial entities if they do not comply with the replacement of collateral. This will have immediate effects on cleared transactions.

This update intends to strengthen the legal and operational security of the Argentine Payment System by standardizing the management of guarantees and establishing clear mechanisms for non-compliance.