On April 30, 2025, the Central Bank of the Argentine Republic (“BCRA” after its spanish acronym) issued Communication “A” 8236, updating the regulatory framework for Guarantees established in the Consolidated Text on the National Payment System – Automated Clearing Houses (“ACH”). This update applies to those entities responsible for the settlement and clearing of the final positions of institutions governed by the Financial Institutions Law (Ley de Instituciones Financieras) and that are part of the national payment system.
The main aspects regulated include:
- The opening of special guarantee accounts by each ACH, designated for each participating institution, in different types of currency, with specific ownership and denominations according to the type of operation being cleared.
- These accounts may only be used for transfers authorized exclusively by the ACH through the IDEAR system (messaging and file transfer system between the Entities and the BCRA) .
- Unrestricted availability of the credited funds’ origin in these accounts, while debits may only be made to the operational accounts of the ACH or the institution, as appropriate.
- The possibility for special guarantee accounts to qualify toward the minimum cash reserve requirement.
- The implementation of cross-settlement procedures for guarantees across different products, with a priority order for applying balances in cases of non-compliance.
- The formalization of the role of the Chamber Committee, with authority to act in cases of operational risk or lack of coverage, including the possibility of temporarily excluding institutions from the clearing system, following evaluation and formal notification.
- The establishment of a detailed protocol for the exclusion of financial institutions due to non-compliance with guarantee replenishment, with immediate effect on cleared operations.
This update strengthens the legal and operational security of the National Payment System by standardizing procedures and establishing clear mechanisms in cases of default.
