NATIONAL HIPOTECARY BANCO Decree 202/94 Amendment to article 14 of Decree No. 540/93.

Bs. As., 9/2/94

VISTO Decree 540 of 26 March 1993, Regulations of Law 24,143 on Restructuring and Sanitation of the NATIONAL HIPOTECARY BANCO, and

CONSIDERING:

That by regulating the aforementioned decree on the guarantee for the special operator provided for in article 19 of Act No. 24,143, it provides for the necessary impact of the tax federal participation of the provincial State to belong to the respective municipality, with automatic debit of the quotas.

That in the phase of implementation of the referendum, for the financing of units of housing and works of complementary urbanization for small towns, the practical convenience of flexibilizing the regulation inherent to the modality of guarantee of the credit has been warned, leaving the arbitrio of the own National Mortgage Bank, within its regulatory authority, the determination of the type of support or caption to demand, according to the subject of the credit and/or the economic-financial analysis that the case the

That the cumbersome process of granting the affectation in guarantee of tax federal participation, as soon as it requires the legislative support of the provincial State, undermines the urgency of the housing solutions sought by the rule to regulate.

That the present measure fits within the framework of the powers granted to the NATIONAL EXECUTIVE POWER by article 86, paragraph 2 of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 Artículo Amend article 14 of Decree 540/93 to read as follows:

"Article 14. El NATIONAL HIPOTECARY BANCO will affect the special operation referred to in article 19 of Law No. 24.143, a percentage of the total funds allocated to its wholesale operator, not higher than the VEINTE BY SCIENTO (20 %). "

The regulation of the operator that dictates the Bank shall provide for the type of guarantee of reimbursement required in each case, in accordance with the object of the credit and/or the financial economic analysis that the Institution makes must be contemplated at a minimum, security right when it could be constituted and impositive affectation of the provincial funds to the municipality

Art. 2o o Contact, post, give to the National Directorate of the Official Register and archvese. . MENEM. . Domingo F. Cavallo.