Why does this matter?
If you are a Settlement and Clearing Agent (“ALyC”) in Argentina, you must now comply with strict liquidity and leverage ratios, report your FX exposure daily, and stop netting accounts in your balance sheets. Non-compliance triggers a mandatory 48-hour operational suspension.
Key facts
– Regulation: CNV Resolution 1130/2026
– Effective: April 29, 2026
– Compliance deadline: January 1, 2027
What is required?
– Liquidity: Current assets must equal or exceed current liabilities.
– Leverage: Total financial liabilities cannot exceed 5 times the net equity in excess of the required minimum.
– Non-compliance consequences: If ratios are not corrected within 2 business days, the agent must immediately cease operations, without prior notice.
– Daily FX reporting: ALyCs must report through the AIF their complete foreign currency holdings, including local deposits, offshore assets, cash and FX-linked positions.
– Netting prohibition: Balance sheet netting of accounts is no longer permitted.
Next steps
The deadline to adapt accounting systems is January 1, 2027, but the liquidity and leverage limits are already in effect.
