Venezuela Grants Central Bank Assets Immunity: Gazette

Assets held by Venezuelan central bank and foreign central banks in Venezuela “enjoy immunity against any type of preventive or executive action,” says new Law on Central Bank Asset Immunity published in Official Gazette distributed today. * Assets allocated to “commercial activity” don’t have immunity: Gazette * Venezuela publishes separate Law on Banking Sector Institutions in same Gazette ** Banking institutions must hold 12% of assets in reserves

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