BCRA: Financial Institutions Will Require BCRA’s Approval to Pay Dividends

On August 30, 2019, the Argentine Central Bank (the “BCRA” after its Spanish acronym) established that financial institutions will require prior BCRA approval for the distribution of dividends.

To analyze requests for approval, the Superintendence of Financial and Foreign Exchange Institutions will take into consideration the potential effects of the application of international accounting regulations, and the restatement of financial statements provided by BCRA regulations, among other considerations.