Article (62): Monetary Base Cover

Fed Law 14/2018 Issued on 1/10/2018

The Central Bank shall, at all times, hold reserves of foreign assets, to cover the Monetary Base, in accordance with provisions of Article (63) of this Decretal Law. Such reserves of foreign assets shall consist of one or more than one of the following items:

1) Gold bullion and other precious metals.

2) Cash, deposits and other monetary and payment instruments denominated in foreign currencies, freely convertible in global financial markets, including digital currencies issued by central banks and other monetary authorities.

3) Securities denominated in foreign currencies and issued or guaranteed by foreign governments and their related companies, entities, institutions, and agencies, or by international monetary and financial institutions, or by multinational corporations, and are tradable in global financial markets.

_{This article has been amended by}_{Decretal Federal Law No. (54) of 2023}_{. You are viewing the latest version. To view the previous version, click the version box below}.

Version 1_{(effective from 31/10/2018 to 01/11/2023)}

The Central Bank shall, at all times, hold reserves of foreign assets, to cover the Monetary Base, in accordance with provisions of Article (63) of this decretal law. Such reserves of foreign assets shall consist of one or more than one of the following items:

1) Gold bullion and other precious metals.

2) Cash, deposits and other monetary and payment instruments denominated in foreign currencies, freely convertible in global financial markets.

3) Securities denominated in foreign currencies and issued or guaranteed by foreign governments and their related companies, entities, institutions, and agencies, or by international monetary and financial institutions, or by multinational corporations, and are tradable in global financial markets.