The Government of the Republic of Chile has given its approval to the following Bill Article 1.-Authorize the President of the Republic to grant the guarantee of the State to short-term obligations arising from foreign currency financing, related as foreign trade operations, being understood by those granted in instalments not exceeding 365 days, by financial institutions foreign to the entities referred to in points (a) and (b) of Article 2 (2) of Law No 18,624 between the 1 January 1990 and 31 December 1990. In respect of the obligations referred to in the foregoing paragraph, the maximum amount of the guarantee of the State in force at any time shall not exceed US$ 2,800,000,000 (two thousand eight hundred million dollars of the United States of America), or its equivalent in other foreign currencies, plus interest, commissions and other costs inherent in such operations. The guarantee of the State referred to in this Article shall not be granted to the obligations of banking companies and financial corporations which are subsidiaries of a foreign financial institution, in the understanding that one or more of them Foreign financial institutions are jointly owned by more than 50% of their equity capital. Article 2 °.-The power granted to the President of the Republic in Article 1 of this Law shall be exercised by one or more decrees issued through the Ministry of Finance. In such decrees, the power to agree on the stipulations and to assume the commitments that are customary in the international financial markets in relation to the types of obligations referred to in this law will be established. The special authorization of the President of the Republic referred to in Article 4 of Decree-Law No 2,349 of 1978, in order to agree on the contracts and operations referred to in this law, shall not be necessary, Articles 1 ° and 2 ° of the aforementioned decree law. JOSÉ T. MERINO CASTRO, Admiral, Commander in Chief of the Navy, Member of the Government Board.-FERNANDO MATTHEI AUBEL, General Air Force, Commander in Chief of the Air Force, Member of the Government Board.-RODolfo STange OELCkers, General Director, General Director of Carabineros, Member of the Government Board.-SANTIAGO SINCLAIR OYANEDER, Army Lieutenant General, Member of the Government Board. Because I have had to approve the previous law, I sanction it and sign it in sign of promulgation. Take effect as the Law of the Republic. Register with the Comptroller General of the Republic, publish in the Official Journal and insert in the Official Collection of the Comptroller's Office. Santiago, 29 August 1989.-AUGUSTO PINOCHET UGARTE, Captain General, President of the Republic.-Enrique Seguel Morel, Brigadier General, Minister of Finance. What I transcribe to you for your knowledge.-Salute attentively to you-Roberto Toso Corezzola, Deputy Minister of Finance.