Argentina: Modification of parking periods – Resolution 979/2023
Clearstream Banking1 informs clients that the National Securities Commission (CNV) of Argentina published Resolution 979/2023 on 6 October 2023 effective
immediately
modifying the parking periods in the local market applicable to certain sales or transfers of securities and implementing additional restrictions to the sales of securities in foreign currency.
Clients should be aware of the modified parking periods and rules (sworn statements) for brokers in the local market in order to book securities transactions versus foreign currency or transfer securities to and from ICSDs as detailed below in the full report. Clients should contact their local brokers for additional details regarding these requirements in the local market.
Clients should note that local brokers and custodians are responsible for holding the securities during the parking period and can refer to the attached CNV Resolution for the full report.
Impact on clients
External against payment transactions in Argentine pesos (ARS) remain suspended until further clarification from regulators.
Alternatively, Clearstream Banking clients can settle external transactions on a free of payment basis.
Internal and Bridge transactions are open for settlement in ARS.
Further information
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.