FX regulations: Confidence returns to Argentina’s banking sector

Roberto A Fortunati of Fortunati & Lucero Abogados observes how banks are reacting to foreign exchange regulations enacted since Argentina's economic crisis.

(This article appears courtesy of International Financial Law Review,  sign up for a free trial here)

Banks and other financial entities are regulated in Argentina by the Law on Financial Entities (the LEF), which applies to any person who carries out, on a regular basis, intermediation activities between the supply and demand of financial resources. To operate as a financial entity under the LEF, a person must be licensed by, and comply with the regulations of, the Argentine Central Bank.

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