New Requirements for Beneficiaries of Social Security Credits to Access the Foreign Exchange Market and Carry Out Transactions with Securities

On July 20, 2023, by means of Communication "A" 7810, the Argentine Central Bank (BCRA) added new restrictions aimed at beneficiaries of the Argentine Social Security Administration (ANSES) accessing the Foreign Exchange Market (FX Market) and carrying out transactions with securities.
 

The Communication establishes that, until their debts are cancelled, those receiving "ANSES Credits" Programs —such as beneficiaries of the SIPA, Universal Child Allowance, War Pension, among others— will not be able to:

1) Access the FX Market to acquire foreign currency for investment, send it to family, or derivate transactions.

2) Carry out the following transactions with securities: 

1. Selling securities with settlement in foreign currency in Argentina.
2. Swapping securities issued by residents for external assets.
3. Transferring securities to foreign depositories.
4. Acquiring foreign securities in Argentina with settlement in ARS.
5. Acquiring Argentine Depositary Certificates (CEDEARs).
6. Acquiring private debt securities issued in foreign jurisdictions.
7. Delivering funds in ARS or other local assets to any individual or entity, receiving in exchange external assets, crypto-assets, or securities deposited abroad.