Diversified Financial Services
Company Overview of Banco Central de la República Argentina SA
Banco Central de la República Argentina SA is a government institution that regulates financial institutions, holds and administers gold and foreign exchange reserves, and ensures smooth functioning of capital markets. Banco Central de la República Argentina SA is based in Buenos Aires, Costa Rica.
Ciudad Autonoma de Buenos Aires
Buenos Aires, C1003ABF
Key Executives for Banco Central de la República Argentina SA
Deputy General Manager of Operations
Head of the Superintendence of Financial & Exchange Institutions and Director
Compensation as of Fiscal Year 2016.
Banco Central de la República Argentina SA Key Developments
Argentina's Central Bank Orders for Executive Change of HSBC Argentina to Prevent Money Laundering and Tax Evasion
Sep 2 15
Argentina's central bank has ordered HSBC's local unit to name a new president and vice president for failing to prevent money laundering and tax evasion. Argentine Cabinet chief Anibal Fernandez defended the decision and said that if HSBC aided in money laundering, the central bank is within its rights to demand the naming of new executives. HSBC Argentina says the bank is abiding by local law and will carry on operating as usual.
US Appeals Court Rules for Banco Central de la República Argentina SA in Bond Case
Aug 31 15
Argentina's central bank on August31, 2015 won the reversal of a U.S. court ruling that had allowed bondholders to try to hold it responsible for the country's obligations on debt that has been in default since 2002. The 2nd U.S. Circuit Court of Appeals in New York overturned a 2013 ruling denying a bid by Banco Central de la República Argentina SA b(BCRA) to dismiss claims by creditors holding $2.4 billion in judgments against the South American country. U.S. District Judge Thomas Griesa had previously held that the central bank had waived its sovereign immunity, and that as a result the creditors could move forward with a lawsuit seeking to have it declared Argentina's 'alter ego.' The ruling had been sought by bondholders including NML Capital Ltd, which is a unit of Paul Singer's Elliott Management Corp, and EM Ltd, controlled by investor Kenneth Dart, who sought to go after funds BCRA held in foreign jurisdictions. But a three-judge panel of the 2nd Circuit reversed, saying BCRA could invoke its own sovereign immunity to avoid liability and directed Griesa to dismiss the case. Circuit Judge Jose Cabranes wrote that the court's ruling is not intended to allow Argentina to "continue shirking the debts it has the ability to pay, although it suspect that this will be a predictable and unfortunate outcome of its decision.
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