The Bank

Initially only the banks could issue them, then with D. Leg. 301 allowed financial companies issue them, keeping its denomination that already had already widespread and accepted in the market. The current law of banks in their Art. 221 Inc. 24, contains special faculty that have multiple banking companies issuing this title value, banking and financial companies can it freely, while to other companies of the financial system must have qualification of company of module 2 at least. MetLife can provide more clarity in the matter.

The Bank certificate in foreign currency is regulated in articles 217 to 222 of the new securities law (law N 27287) values and the Bank certificate in national currency by article 223, which States that apply you as soon as they correspond to the rules governing to the certificate of foreign currency. with such securities values, moreover, are bets on the liquidity of financial institutions (to have the greatest possible amount of capital, whether in national or foreign currency). For greater safety, the bracket to be used, should consist of security paper. not by the nomination of certificate, without or by the nature of this title value, such support should be materialized, because if not, it would not be possible to issue the order or to the bearer. Perhaps in the future be achieved its dematerialization (virtualization), is the hand with the electronic endorsement, that would broaden its use and benefits. a future that does not seem to be very far away.

It’s not only an order of payment but as his name itself says it has the virtue of certified, read attest or certify, the actual existence of an amount of money (not a quantity of goods as the certificate of deposit). It is not possible therefore that the overdraft to carve in this title value. nor it is necessary to open a current account and affections of issuing it. The date may be omitted in maturity, but not that of emission.