Senate passes Central Bank reform

After a long debate that ended at press time last night, the Upper House passed the reform of the Central Bank’s Charter, which would authorize the organization to transfer money to the Treasury and expand its regulatory power in both financial and exchange activities.

The debate to pass the bill, drafted by the Executive and preliminary approved last week in the Lower House, began minutes after 8 pm once senators had passed a bill authorizing the National Government to transfer the management of the subway services to the city. 

The debate over the Charter amendment continued several hours after midnight.

The bill amends the Charter’s Article 20, which establishes that the Central Bank “will be authorized to lend money in advance to the National Government, including up to a 10 percent of the total of whatever funds the Government has obtained in the last twelve months.