On the other hand, circulars are used to inform the issuance of rules or instructions of an operational or special nature that apply to certain types of supervised entities, for example as members of the bank`s primary debt market, including banks, pension fund managers, insurance companies, investment fund managers, investment dealers, investment dealers and the seed fund management company. Trustees can be lawyers, auditors, or economics graduates. They will remain in office for four (4) years, at the end of which they may be recalled. At the end of the year, the trustees will decide on the balance sheets and profit and loss accounts for which they will have access to all documents, books and other evidence of the Bank`s business activities. They shall inform the Board of Directors, the Executive Branch and the Honorable Congress of the Nation of compliance with this Act and other applicable regulations. Trustees receive the remuneration provided for in the Bank`s budget for their duties. Section 46| The Superintendent shall be responsible, within the framework of the general guidelines adopted by the Board of Directors of the Bank and for providing information on the decisions taken, for the following tasks: Article 1 | The Central Bank of the Argentine Republic is a self-sufficient unit of the nation-State, subject to the provisions of the present Charter of the body and other consistent legal norms. The nation-state guarantees the obligations assumed by the bank. Unless expressly provided otherwise by law, the rules, whatever their nature, adopted or to be adopted for the bodies of the national public administration and which entail restrictions on the capacities or powers recognized in this Bio-Charter, do not apply to the Bank. Section 55| The Central Bank of the Argentine Republic is subject exclusively to federal jurisdiction. In the case of a judicial actor, the national jurisdiction will coincide with that of the ordinary judge of the provinces. The Bank may also extend its jurisdiction in favour of foreign courts.

Article 20 | The Bank may grant the National Government temporary advances up to an amount equal to twelve per cent (12 per cent) of the monetary base, consisting of money in circulation plus demand deposits from financial institutions of the Central Bank of the Argentine Republic, in current accounts or in special accounts. It may also grant advances up to a maximum of ten percent (10%) of the money received by the national government in the last twelve (12) months. The advances referred to in the preceding paragraph must be repaid within twelve (12) months of their payment. If one of these advances is not paid after the expiry of that period, this power may not be exercised until the amounts due have been repaid. Exceptionally, and if the situation or prospects of the national or international economy so warrant, transitional advances may be granted for an additional amount equal to a maximum of ten percent (10%) of the money received by the national government in the last twelve (12) months. This derogation may be exercised for a maximum period of eighteen (18) months. After this period, the Central Bank of the Argentine Republic will no longer be able to grant advances to the national government that increase the latter concept. The advances referred to in the preceding paragraph shall be reimbursed within eighteen (18) months of their execution. If these advances become unpaid after the end of this period, this power may not be reused until the amounts due for this concept have been repaid. Article 27 | The Ministry of the Economy and Public Works and Services provides the Bank with the following information for each quarter: Article 31 | Banknotes and coins of the Bank shall be legal tender throughout the territory of the Argentine Republic in the amount expressed therein. The notes bear the facsimile of the signature of the President of the Bank, as well as the signature of the President of the Chamber of Honours of Senators or of the Chamber of Honours of the Chamber of Deputies, as provided by the Board of Directors of the Bank for the various denominations. The Central Bank of the Argentine Republic also has the right to mint currency with numismatic or commemorative value.

Such documents shall not be subject to the provisions of the first paragraph of this Article. Article 42 | Economic information. The Bank must publish its objectives and plans for the development of monetary, financial, credit and exchange rate policies before the beginning of each fiscal year. In the event of a significant change in its objectives and plans, the Bank shall communicate the causes and the measures taken accordingly. The bank is also responsible for the preparation and regular publication of monetary, financial, stock market and credit statistics. The Bank may conduct research and promote financial education and activities on topics of interest related to the objective assigned to it by this Bio-Charter. Section 38| Uncapitalized profits are used for the general reserve fund and for special reserve funds until they reach fifty percent (50%) of the bank`s capital. Once this limit is reached, profits that are not capitalized or used in the reserve fund must be freely transferred to the national government`s account. Losses incurred by the Bank in a given financial year shall be offset by reserves built up in previous financial years and, if this is not possible, shall have an impact on the capital of the institution. In such cases, the Board of Directors of the Bank may influence the profits made in the years following the recomposition of capital and reserves before the loss. Article 32 | Once the bank has verified the violation of its exclusive function of issuing money, it will report it to the competent authority and inform the executive so that it can take appropriate action. Article 45 | The Superintendent and the Deputy Superintendent shall be appointed by the National Executive on the proposal of the President of the Bank from among the members of the Board of Directors.

The term of office shall be three years or until the end of his term as director, whichever is shorter. The bank can order the transfer of deposits from the national government and self-sufficient companies to financial institutions. It may also entrust banks with the execution of banking transactions of any type of national government and departments or enterprises of the national state. In addition to this information, the Bank shall request from the Ministry of Economy and Public Works and Services, as well as from other ministries and public services, such others as are necessary or useful for the best possible exercise of its functions. Article 6| The Bank is managed by a Board of Directors composed of a President, a Vice-President and eight Directors. All must be native Argentinians or naturalized, with no less than ten (10) years of citizenship. They must have demonstrated their aptitude in monetary, banking or legal matters related to finance and have recognized their moral solvency.