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Argentine Central Bank Stops Part of Charter Change, Ambito Says

Argentina’s central bank has temporarily suspended a change to part of its charter that would require banks to hold reserves at the central bank, Ambito Financiero reported.

Argentine banks can maintain the amount of savings needed to meet their reserve requirements in their own accounts as previously allowed, the Buenos Aires-based newspaper reported, citing a statement from the central bank.

The move will help sustain liquidity in the banking system and keep interest rates lower, Ambito Financiero reported.

To contact the reporter on this story: Bill Faries in Buenos Aires at wfaries@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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