President Christina Fernández de Kirchner called Judge Thomas Griesa, pictured above, a senile old man.
Difficult to imagine the battle to end soon or friendly as Argentina’s national sovereignty is threatened.
Meetings held yesterday and today in the auditorium of the Banco de la Nacion Argentina by Procelac on organized crime and money laundering. A STRONG signal to the banks to get their houses in order, if they can.
Banking rumours are that Argentina seeks to distance itself from the USDollar… ~Ron
U.S. Judge Griesa orders Argentina to reinstate BoNY
U.S. Judge Thomas Griesa has ordered Argentina to reinstate the Bank of New York Mellon (BoNY) as trustee and “reverse the steps taken” with the approval of the Sovereign Payment law that replaced it with Nación Fideicomisos.
The judge ordered it last Friday in an amendment to his September 29 ruling when he declared Argentina in contempt of court.
“The Republic of Argentina will need to reverse entirely the steps which it has taken constituting the contempt, including, but not limited to, re-affirming the role of The Bank of New York Mellon as the indenture trustee and withdrawing any purported authorization of Nación Fideicomisos, S.A. to act as the indenture trustee, and complying completely with the February 23, 2012 injunction,” Griesa ordered.
CNV sanctions Mariva Bank following CFK accusations
The CNV securities regulator has suspended Mariva Bursátil S.A., one of the two financial institutions accused of “suspicious movements” by president Cristina Fernández de Kirchner on Tuesday that were inspected by the CNV and the Office of Economic Crime and Money-Laundering (PROCELAC) yesterday.
The suspension was decided on the basis of the article 51 of the Capital Markets law, which enables the CNV to suspend registered institutions in case they breach any of the obligations set by the watchdog.
Based on the documents gathered in yesterday’s operation, the CNV said that it has found irregularities in Mariva’s “payment orders, payment and receipts, and transfers of negotiable values.”
The securities watchdog also said that Mariva did not deliver the “documents needed to audit the funds of client’s accounts under the terms established by the Financial Information Unit’s resolution 229/2011.”
The CNV said that the suspension “seeks to guarantee the effective, immediate protection of investors.”
‘Vanoli’s mission is to enforce Central Bank’s charter’
Cabinet chief Jorge Capitanich said that the mission of recently appointed Central Bank (BCRA) governor Alejandro Vanoli is to enforce the Bank’s charter, guaranteeing and encouraging “an environment that is favourable to economic activity, employment and investment.”
The chief of ministers explained in his daily press briefing at government house that Vanoli’s appointment, who is to replace former BCRA head Juan Carlos Fábrega, is now subjected to the Senate’s approval.
Capitanich stressed that the new BCRA governor is to “set clear conditions for exchange rate policy and monetary stability” as well as the regulation of the country’s financial institutions
The official denied any plans to reform Argentina’s Financial Institutions law.
CFK to enact new Civil and Commercial Code
After receiving Congressional approval last week, the new Civil and Commercial Code will be enacted by president Cristina Fernández de Kirchner tonight at 18.30 in a ceremony at The Museum of the Bicentennial
Supreme Court Chief Justice Ricardo Lorenzetti and Deputy Justice Elena Highton de Nolasco along with a group of provincial governors will attend the enactment of the law.
Cabinet chief Jorge Capitanich praised the new Code earlier today in his daily press briefing at government house and said it has the support of 70% of Argentineans.
That percentage was published today by Ibarómetro after surveying 1,000 people in Buenos Aires City and Greater Buenos Aires.
The new law will be effective starting January 1, 2016.