REGLAMENTO DE DIRECTORIO DEL BBVA BANCO

Anuncio
Aprobado en Directorio del 31.03.2014
5(*/$0(172'(',5(&725,2'(/%%9$%$1&2&217,1(17$/
(O'LUHFWRULRGHO%%9$%DQFR&RQWLQHQWDOHQDGHODQWH(O%DQFRDVXPHODLPSRUWDQFLDTXHSDUD
ODV JUDQGHV ,QVWLWXFLRQHV WLHQH FRQWDU FRQ XQ VLVWHPD GH JRELHUQR FRUSRUDWLYR TXH RULHQWH OD
HVWUXFWXUD\IXQFLRQDPLHQWRGHVXVyUJDQRVVRFLDOHVHQLQWHUpVGHOD6RFLHGDG\GHVXVDFFLRQLVWDV
/RVGHUHFKRV\GHEHUHVGHORV'LUHFWRUHVFRQVHFXHQFLDGHSULQFLSLRVpWLFRV\GHFRPSRUWDPLHQWR
DVt FRPR GH GHVHPSHxR GH VXV FRPHWLGRV FRQVWLWX\HQ DGHPiV XQ HOHPHQWR HVHQFLDO TXH GHEH
IRUPDUSDUWHGHOVLVWHPDGHJRELHUQRGH%DQFR
'HHVWDIRUPDHO'LUHFWRULRGHO%DQFRDGRSWDHOSUHVHQWH5HJODPHQWRHOPLVPRTXHUHFRJLHQGRORV
SULQFLSLRV\HOHPHQWRVTXHFRQIRUPDQHOJRELHUQRFRUSRUDWLYRGHO%DQFRFRPSUHQGHODVQRUPDVGH
UpJLPHQLQWHUQR\IXQFLRQDPLHQWRGHOSURSLR'LUHFWRULRSDUDJDUDQWL]DUODPHMRUDGPLQLVWUDFLyQGH
HVWH
&$3Ë78/2,
(O(VWDWXWRGHO'LUHFWRU
$UWtFXOR&RPSRVLFLyQGHO'LUHFWRULR
(O'LUHFWRULRHVWDUiLQWHJUDGRSRUXQQ~PHURGH'LUHFWRUHVTXHVHHQFXHQWUHGHQWURGHORVOtPLWHV
HVWDEOHFLGRV HQ OD /H\ ORV (VWDWXWRV 6RFLDOHV \ HQ ORV DFXHUGRV TXH DGRSWH OD -XQWD *HQHUDO GH
$FFLRQLVWDVGHOD6RFLHGDG(ODFWXDO(VWDWXWRHVWDEOHFHTXHVXQ~PHURQRSRGUiVHULQIHULRUDFLQFR
QLVXSHULRUDRQFH
$UWtFXOR1RPEUDPLHQWRGH'LUHFWRUHV
/D GHVLJQDFLyQ GH ORV PLHPEURV GHO 'LUHFWRULR GHO %DQFR FRUUHVSRQGH D OD -XQWD *HQHUDO GH
$FFLRQLVWDV GH OD 6RFLHGDG VLQ SHUMXLFLR GH OD IDFXOWDG TXH HO 'LUHFWRULR WLHQH GH FRPSOHWDU VX
Q~PHURHQFDVRGHTXHVHSURGXMHVHDOJXQDYDFDQWHFXDQGRHOQ~PHURWRWDOGHYDFDQWHVQRH[FHGD
GHXQWHUFLRGHOWRWDOGH'LUHFWRUHV
(QXQR\RWURFDVRODVSHUVRQDVTXHVHSURSRQJDQSDUDVHUGHVLJQDGRV'LUHFWRUHVGHEHUiQUHXQLUORV
UHTXLVLWRV SUHYLVWRV HQ ODV GLVSRVLFLRQHV OHJDOHV YLJHQWHV HQ OD QRUPDWLYD VLQJXODU DSOLFDEOH D ODV
HQWLGDGHV ILQDQFLHUDV \ HQ ORV (VWDWXWRV 6RFLDOHV $VLPLVPR HVWDV SHUVRQDV GHEHQ FRQWDU FRQ
GLIHUHQWHVHVSHFLDOLGDGHV\FRPSHWHQFLDVGHPDQHUDTXHKD\DSOXUDOLGDGGHHQIRTXHV\RSLQLRQHV
(O'LUHFWRUGHVLJQDGRGHEHUiVXVFULELUXQDGHFODUDFLyQVHxDODQGRQRHQFRQWUDUVHLQFXUVRHQDOJXQR
GHORVLPSHGLPHQWRVFRQWHPSODGRVHQODVGLVSRVLFLRQHVVHxDODGDVHQIRUPDSUHFHGHQWHODTXHVHUi
UHPLWLGDDOD6XSHULQWHQGHQFLDGH%DQFD6HJXURV\$)3
3DUDSRGHUVHUGHVLJQDGR'LUHFWRUQRH[LVWLUiQRWUDVOLPLWDFLRQHVTXHODVTXHUHVXOWHQGHOD/H\\GH
ORV(VWDWXWRV6RFLDOHV
/DVRFLHGDGHVWiREOLJDGDDGLYXOJDUORVQRPEUHVGHORVGLUHFWRUHVVXFDOLGDGGHLQGHSHQGLHQWHRQR
\ VXV KRMDV GH YLGD H LQIRUPDU DFHUFD GH ORV GHPiV 'LUHFWRULRV TXH LQWHJUHQ ORV GLUHFWRUHV GH OD
VRFLHGDG
6H FRQVLGHUDUiQ GLUHFWRUHV LQGHSHQGLHQWHV D DTXHOORV GLUHFWRUHV GHVLJQDGRV HQ DWHQFLyQ D VXV
FRQGLFLRQHVSHUVRQDOHV\DVXSUHVWLJLRSURIHVLRQDOTXHQRIRUPHQSDUWHGHODSODQDHMHFXWLYDGHO
Aprobado en Directorio del 31.03.2014
%DQFR\TXHQRVHHQFXHQWUHQYLQFXODGRVFRQORVDFFLRQLVWDVSULQFLSDOHVGHpVWH/RVHUiQDGHPiV
VLKDELHQGRSDUWLFLSDGRHQODJHVWLyQGHO%DQFRRGHVXVDFFLRQLVWDVSULQFLSDOHVKD\DQFRQFOXLGRVX
UHODFLyQ SRU XQ SHUtRGR LJXDO R VXSHULRU D ORV GRFH PHVHV DQWHULRUHV D VX GHVLJQDFLyQ (O
GLUHFWRULQGHSHQGLHQWHGHEHGHFODUDUVXFRQGLFLyQGHLQGHSHQGLHQWHDQWHODVRFLHGDGVXVDFFLRQLVWDV
\GLUHFWLYRV$VLPLVPRHO'LUHFWRULRGHEHGHFODUDUTXHHOFDQGLGDWRHVLQGHSHQGLHQWHQRVRORVREUH
ODEDVHGHVXVGHFODUDFLRQHVVLQRGHODVLQGDJDFLRQHVTXHKDUHDOL]DGR
$UWtFXOR'XUDFLyQGHOPDQGDWRGH'LUHFWRU
/RV'LUHFWRUHVGHVHPSHxDUiQVXFDUJRSRUSHULRGRVDQXDOHVVHJ~QORGLVSXHVWRHQHO(VWDWXWRRHQ
FDVR GHKDEHUVLGR GHVLJQDGRV SRUHO PLVPR 'LUHFWRULR SDUD FXEULUDOJXQD YDFDQWH SRU HOWLHPSR
TXHUHVWDUDGHGXUDFLyQGHOPDQGDWRDO'LUHFWRUFX\DYDFDQWHVHKXELHUHFXELHUWRGHHVWDIRUPD
$UWtFXOR5HHOHFFLyQGH'LUHFWRUHV
/RV'LUHFWRUHVSRGUiQVHUUHHOHJLGRVLQGHILQLGDPHQWHSRUOD-XQWD*HQHUDOGH$FFLRQLVWDV
$UWtFXOR'HVHPSHxRGHOD)XQFLyQGH'LUHFWRU
/RV PLHPEURV GHO 'LUHFWRULR GHO %DQFR HMHUFHUiQ ODV IXQFLRQHV TXH OH FRUUHVSRQGDQ FRQ OD
UHVSHFWLYDSRVLFLyQTXHRFXSHQHQHO'LUHFWRULR\HQORV&RPLWpVGHpVWHGHORVTXHIRUPHQSDUWH
FRQIRUPHDOD/H\ORV(VWDWXWRV6RFLDOHVODVUHJODVGHO%DQFRVREUH*RELHUQR&RUSRUDWLYR\ORV
DFXHUGRVTXHVHDGRSWHQDHVWHUHVSHFWRSRUORVyUJDQRVGHDGPLQLVWUDFLyQGHOD6RFLHGDG
(VWDUiQ VXMHWRV DO GHEHU GH ILGHOLGDG GHELHQGR FXPSOLU ORV GHEHUHV LPSXHVWRV SRU ODV OH\HV \ ORV
(VWDWXWRVFRQILGHOLGDGDOLQWHUpVVRFLDOHQWHQGLGRFRPRLQWHUpVGHOD6RFLHGDG(QVXGHVHPSHxR
HO 'LUHFWRULR FRPR yUJDQR GHEH DFWXDU FRQ XQLGDG GH FULWHULR \ ORV GLUHFWRUHV GHEHQ HMHUFHU VXV
IXQFLRQHVFRQLQGHSHQGHQFLDGHFULWHULR
(O'LUHFWRUHVWDUiREOLJDGRDSDUWLFLSDUGHODVUHXQLRQHVGHORVyUJDQRVVRFLDOHV\GHORV&RPLWpVGHO
'LUHFWRULR VDOYR SRU FDXVD MXVWLILFDGD LQWHUYLQLHQGR HQ ODV GHOLEHUDFLRQHV GLVFXVLRQHV \ GHEDWHV
TXHVHVXVFLWHQVREUHORVDVXQWRVVRPHWLGRVDODFRQVLGHUDFLyQGHpVWRV
$FWXDUi DMXVWiQGRVH D ORV FDXFHV HVWDEOHFLGRV \ HQ IXQFLyQ GH VXV UHVSHFWLYRV FRPHWLGRV HQ HO
'LUHFWRULRGHO%DQFR\HQVXV&RPLWpVDVtFRPRHQHOHMHUFLFLRGHIDFXOWDGHVGHOHJDGDVGHIRUPD
H[SUHVDSRUORVyUJDQRVGHDGPLQLVWUDFLyQGHOPLVPRHVSHFLDOPHQWHHQODVUHODFLRQHVFRQFOLHQWHV
GLUHFWLYRV\HPSOHDGRVGHHVWH
$UWtFXOR'HUHFKRGH,QIRUPDFLyQGHO'LUHFWRU
&DGDGLUHFWRUWLHQHGHUHFKRDVHULQIRUPDGRSRUODJHUHQFLDGHWRGRORUHODFLRQDGRFRQODPDUFKDGH
ODVRFLHGDG(VWHGHUHFKRGHEHVHUHMHUFLGRHQHOVHQRGHOGLUHFWRULR\GHPDQHUDGHQRDIHFWDUOD
JHVWLyQVRFLDO
/RV 'LUHFWRUHVGLVSRQGUiQ GHODLQIRUPDFLyQ VXILFLHQWH SDUD SRGHUIRUPDUFULWHULR UHVSHFWR GH ODV
FXHVWLRQHVTXHFRUUHVSRQGDQDORVyUJDQRVVRFLDOHVGHO%DQFRFRQODDQWHODFLyQTXHVHUHTXLHUDHQ
FDGDFDVR
&XDQGR HQ HO 'LUHFWRULR GHEDQ WUDWDUVH DVXQWRV TXH UHTXLHUDQ GH OD HYDOXDFLyQ SUHYLD GH
LQIRUPDFLyQ TXH SRGUtD SHUMXGLFDU HO LQWHUpV VRFLDO R SXHGDQ SRQHU HQ SHOLJUR OD SRVLFLyQ
FRPSHWLWLYDGHODHPSUHVDRDIHFWDUHOQRUPDOGHVDUUROORGHDFWLYLGDGHVGHODPLVPDORV'LUHFWRUHV
Aprobado en Directorio del 31.03.2014
WHQGUiQ DFFHVR D OD PLVPD D VLPSOH UHTXHULPLHQWR 3DUD WDOHV HIHFWRV GHEHUiQ REVHUYDU HO PLVPR
GHEHUGHFRQILGHQFLDOLGDG\UHVHUYDHVWDEOHFLGRHQHODUWtFXORƒGHOSUHVHQWHUHJODPHQWR
(OHMHUFLFLRGHOGHUHFKRGHLQIRUPDFLyQVHFDQDOL]DUiDWUDYpVGHO3UHVLGHQWHRGHOD6HFUHWDULDGHO
'LUHFWRULR GHO %DQFR TXLHQHV DWHQGHUiQ ODV VROLFLWXGHV IDFLOLWDQGR GLUHFWDPHQWH OD LQIRUPDFLyQ R
HVWDEOHFLHQGRORVFDXFHVDGHFXDGRVSDUDHOORGHQWURGHODRUJDQL]DFLyQVDOYRTXHHQODVUHJODVGH
IXQFLRQDPLHQWRGHORV&RPLWpVGHO'LUHFWRULRVHKXELHUHHVWDEOHFLGRXQSURFHGLPLHQWRHVSHFtILFR
/RV'LUHFWRUHVSRGUiQSODQWHDUDO'LUHFWRULRGHO%DQFRHODX[LOLRGHH[SHUWRVDMHQRVDORVVHUYLFLRV
GHO %DQFR HQ DTXHOODV PDWHULDV VRPHWLGDV D VX FRQVLGHUDFLyQ TXH SRU VX HVSHFLDO FRPSOHMLGDG R
WUDVFHQGHQFLDDVXMXLFLRDVtORUHTXLULHUDQVLQSHUMXLFLRGHORTXHVHHVWDEOH]FDDHVWHUHVSHFWRHQ
ODVUHJODVGHIXQFLRQDPLHQWRGHORV&RPLWpVGHO'LUHFWRULRDVtFRPRORVQHFHVDULRVFRPSOHPHQWRV
GHIRUPDFLyQSDUDHODGHFXDGRHMHUFLFLRGHVXVIXQFLRQHV
3DUD OD FRQWUDWDFLyQ GH H[SHUWRV PHQFLRQDGD HQ HO SiUUDIR DQWHULRU SUHYLDPHQWH VH GHEHUi FRQWDU
FRQ HO YRWR DSUREDWRULR GH OD PD\RUtD GH GLUHFWRUHV /D HPSUHVD GH DVHVRUtD HVSHFLDOL]DGD
FRQWUDWDGD SDUD HVWRV HIHFWRV GHEHUi VHU GH UHFRQRFLGR SUHVWLJLR QDFLRQDO R LQWHUQDFLRQDO \ QR
GHEHUiHQFRQWUDUVHYLQFXODGDSRUSURSLHGDGGLUHFWDRLQGLUHFWDQLSRUJHVWLyQRFRQWURODDOJXQRGH
ORVPLHPEURVGHO'LUHFWRULRRJUXSRGHFRQWUROGHO%%9$&RQWLQHQWDO
$UWtFXOR3UHVLGHQFLD\9LFHSUHVLGHQFLD
$OTXHGDULQVWDODGRHO'LUHFWRULRpVWHHOHJLUiGHHQWUHVXVPLHPEURVDTXLHQGHVHPSHxDUiHOFDUJR
GH 3UHVLGHQWH HO FXDO SUHVLGLUi VXV VHVLRQHV 7DPELpQ HOHJLUi D XQ SULPHU YLFHSUHVLGHQWH HO FXDO
HMHUFHUi ODV IXQFLRQHV GHO SUHVLGHQWH HQ FDVR GH DXVHQFLD R LPSHGLPHQWR GH pVWH \ D XQ VHJXQGR
YLFHSUHVLGHQWHTXLHQORSUHVLGLUiHQDXVHQFLDGHpVWH6LHOORVIDOWDUDQSUHVLGLUiHO'LUHFWRUGHPiV
HGDG\VLQRFRQFXUULHUDQLQJ~Q'LUHFWRUSUHVLGLUiHODFFLRQLVWDTXHUHSUHVHQWDHOPD\RUQ~PHURGH
DFFLRQHVGHFLGLpQGRVHSRUODVXHUWHVLGRVRPiVUH~QHQODVPLVPDVFRQGLFLRQHV
(O3UHVLGHQWHHVHOSULQFLSDOUHSUHVHQWDQWHOHJDOGHOD6RFLHGDGUHVSRQVDEOHGHVXGLUHFFLRQDPLHQWR
HVWUDWpJLFR\GHODGLUHFFLyQ\VXSHUYLVLyQGHODJHVWLyQGHODJHUHQFLDJHQHUDOHQWUHRWUDVIXQFLRQHV
TXHVHOHSXGLHVHDVLJQDU9HODSRUODHMHFXFLyQGHORVDFXHUGRVGHOD-XQWD*HQHUDOGH$FFLRQLVWDV
\GHO'LUHFWRULRDVtFRPRSRUODFRUUHFWDDWHQFLyQDORVUHTXHULPLHQWRVGHORVDFFLRQLVWDV9HODSDUD
TXHORVGLUHFWRUHVUHFLEDQLQIRUPDFLyQVXILFLHQWHSUHYLDPHQWHDODVVHVLRQHV
(O 3UHVLGHQWH GHO 'LUHFWRULR \ HO *HUHQWH *HQHUDO SXHGHQ GHVHPSHxDU IXQFLRQHV HMHFXWLYDV GH OD
VRFLHGDGHQFDVRDVtORGHFLGDHO'LUHFWRULR(O'LUHFWRULRGHWHUPLQDODVIDFXOWDGHVDGHOHJDUHQOD
SUHVLGHQFLDHMHFXWLYD\VXVIXQFLRQHV
(O3UHVLGHQWHDGHPiVGHSUHVLGLUODVVHVLRQHVGH'LUHFWRULR\GHHMHFXWDUORVDFXHUGRVTXHHQHOODVH
DGRSWHQSRGUiHMHUFHUWRGDVODVIXQFLRQHV\DWULEXFLRQHVTXHOHGHOHJXH\HQFDUJXHHO'LUHFWRULR\
HQFX\RFDVROHVHUiHQWUHJDGRHOPDQGDWRFRUUHVSRQGLHQWH
(O 'LUHFWRULR SRGUi UHYRFDU HO QRPEUDPLHQWR GHO 3UHVLGHQWH PHGLDQWH DFXHUGR DGRSWDGR SRU OD
PD\RUtDGHORV'LUHFWRUHV
$UWtFXOR'HEHUGH&RQILGHQFLDOLGDG
/DV GHOLEHUDFLRQHV GH ORV yUJDQRV VRFLDOHV VRQ UHVHUYDGDV (Q FRQVHFXHQFLD HO 'LUHFWRU JXDUGDUi
FRQILGHQFLDOLGDGGHODVGHOLEHUDFLRQHVGHO'LUHFWRULR\GHORV&RPLWpVGHORVTXHIRUPHSDUWHDVt
Aprobado en Directorio del 31.03.2014
FRPR GH WRGD DTXHOOD LQIRUPDFLyQ D OD TXH KD\D WHQLGR DFFHVR HQ HO HMHUFLFLR GH VX FDUJR TXH
XWLOL]DUiH[FOXVLYDPHQWHHQHOGHVHPSHxRGHOPLVPR\TXHFXVWRGLDUiFRQODGHELGDGLOLJHQFLD
/DREOLJDFLyQGHFRQILGHQFLDOLGDGVXEVLVWLUiD~QGHVSXpVGHTXHVHKD\DFHVDGRHQHOFDUJR
$UWtFXOReWLFD\1RUPDVGH&RQGXFWD
/RV'LUHFWRUHVGHEHUiQJXDUGDUHQVXDFWXDFLyQXQFRPSRUWDPLHQWRpWLFRDFRUGHFRQODVH[LJHQFLDV
QRUPDWLYDVDSOLFDEOHVDTXLHQHVGHVHPSHxHQFRPHWLGRVGHDGPLQLVWUDFLyQHQHQWLGDGHVILQDQFLHUDV
GH EXHQD IH \ FRQIRUPH D ORV SULQFLSLRV TXH FRQVWLWX\HQ ORV YDORUHV FRUSRUDWLYRV D ORV TXH VH
KXELHUHDGKHULGRHO%DQFR
$UWtFXOR&RQIOLFWRVGH,QWHUHVHV
(O 'LUHFWRU GHEHUi DEVWHQHUVH GH LQWHUYHQLU HQ DTXHOORV FDVRV HQ ORV TXH SXHGD VXVFLWDUVH XQ
FRQIOLFWRGHLQWHUpVFRQHO%DQFR
1R LQWHUYHQGUi HQ ODV GHOLEHUDFLRQHV GHORVyUJDQRVVRFLDOHV GHO %DQFR \ 6XEVLGLDULDV GHORV TXH
IRUPHSDUWHUHODWLYDVDDVXQWRVHQORVTXHSXGLHUHHVWDULQWHUHVDGRGLUHFWDRLQGLUHFWDPHQWHRTXH
DIHFWHQDODVSHUVRQDVFRQpOYLQFXODGDVHQORVWpUPLQRVOHJDOPHQWHHVWDEOHFLGRV
$VLPLVPR HO 'LUHFWRU QR SRGUi UHDOL]DU GLUHFWD R LQGLUHFWDPHQWH WUDQVDFFLRQHV SHUVRQDOHV
SURIHVLRQDOHV R FRPHUFLDOHV FRQ HO %DQFR \ VXV VXEVLGLDULDV GLVWLQWDVGHODV UHODFLRQHVEDQFDULDV
KDELWXDOHV VDOYR TXH pVWDV ~OWLPDV HVWXYLHVHQ VRPHWLGDV D XQ SURFHGLPLHQWR GH FRQWUDWDFLyQ TXH
DVHJXUHVXWUDQVSDUHQFLDFRQRIHUWDVHQFRQFXUUHQFLD\DSUHFLRVGHPHUFDGR
(O 'LUHFWRU QR SRGUi YDOHUVH GH VXSRVLFLyQ HQ HO %DQFR SDUDREWHQHU XQD YHQWDMDSDWULPRQLDO QL
DSURYHFKDU HQ EHQHILFLR SURSLR GLUHFWD R LQGLUHFWDPHQWH R GH SHUVRQDV D pO YLQFXODGDV XQD
RSRUWXQLGDG GH QHJRFLR GH OD TXH KD\D WHQLGR FRQRFLPLHQWR FRPR FRQVHFXHQFLD GH VX DFWLYLGDG
FRPR 'LUHFWRU GHO %DQFRD QRVHU TXH OD PLVPD KD\D VLGR SUHYLDPHQWH RIUHFLGD DO %DQFR \ pVWH
GHVLVWDGHH[SORWDUODGHELHQGRVHUGHFRQRFLPLHQWRSUHYLRGHO'LUHFWRULR
(Q WRGR FDVR HO 'LUHFWRU GHEHUi VRPHWHUVH HQ VX DFWXDFLyQ D ODV GLVSRVLFLRQHV TXH OH UHVXOWHQ
DSOLFDEOHVGHO&yGLJRGH&RQGXFWDGHO%DQFRHQHOiPELWRGHO0HUFDGRGH9DORUHVDVtFRPRDODV
GLVSRVLFLRQHV OHJDOHV H LQVWUXFFLRQHV LQWHUQDV TXH IXHUDQ DSOLFDEOHV SDUD OD VROLFLWXG GH FUpGLWRV
DYDOHV\JDUDQWtDVDO%DQFR\DEVWHQHUVHGHUHDOL]DURGHVXJHULUVXUHDOL]DFLyQDFXDOTXLHUSHUVRQD
XQD RSHUDFLyQ VREUH YDORUHV GH OD SURSLD VRFLHGDG R VRFLHGDGHV ILOLDOHV DVRFLDGDV R YLQFXODGDV
VREUHODVTXHGLVSRQJDSRUUD]yQGHVXFDUJRGHLQIRUPDFLyQSULYLOHJLDGDRUHVHUYDGDHQWDQWRHVD
LQIRUPDFLyQQRVHGpDFRQRFHUS~EOLFDPHQWH
$UWtFXOR,QFRPSDWLELOLGDGHV
(O 'LUHFWRU HQ HO GHVHPSHxR GH VX FDUJR HVWDUi VRPHWLGR DO UpJLPHQ GH LQFRPSDWLELOLGDGHV
HVWDEOHFLGR SRUOD QRUPDWLYD DSOLFDEOH HQFDGD PRPHQWR HQ SDUWLFXODU D ODV FRQWHQLGDV HQ OD /H\
*HQHUDO GH 6RFLHGDGHV /H\ *HQHUDO GHO 6LVWHPD )LQDQFLHUR \ GH 6HJXURV \ 2UJiQLFD GH OD
6XSHULQWHQGHQFLDGH%DQFD\6HJXURV/H\GH0HUFDGRGH9DORUHV\HO(VWDWXWR6RFLDO
$UWtFXOR&HVHGHORV'LUHFWRUHV
/RV 'LUHFWRUHV SHUPDQHFHUiQ HQ VX FDUJR KDVWD OD FHOHEUDFLyQ GH OD SUy[LPD -XQWD *HQHUDO GH
$FFLRQLVWDVVDOYRORVFDVRVGHYDFDQFLD
Aprobado en Directorio del 31.03.2014
$VLPLVPRORV'LUHFWRUHVGHEHUiQSRQHUVXFDUJRDGLVSRVLFLyQGHO'LUHFWRULRGHO%DQFR\DFHSWDU
ODGHFLVLyQTXHpVWHSXGLHUDDGRSWDUVREUHVXFRQWLQXLGDGTXHGDQGRREOLJDGRVHQHVWH~OWLPRFDVRD
IRUPDOL]DUODFRUUHVSRQGLHQWHUHQXQFLDHQORVVLJXLHQWHVVXSXHVWRV
- &XDQGRVHYHDQLQFXUVRVHQDOJXQRGHORVVXSXHVWRVGHLQFRPSDWLELOLGDGRSURKLELFLyQSUHYLVWRV
HQODQRUPDWLYDYLJHQWHHQHO(VWDWXWRRHQHOSUHVHQWH5HJODPHQWR
- &XDQGR VH SURGXMHUDQ FDPELRV VLJQLILFDWLYRV HQ VX VLWXDFLyQ SURIHVLRQDO R HQ HO FDUiFWHU HQ
YLUWXGGHOFXDOKXELHUDQVLGRGHVLJQDGRVFRPRWDOHV
- (QFDVRGHLQFXPSOLPLHQWRJUDYHGHVXVREOLJDFLRQHVHQHOGHVHPSHxRGHVXVIXQFLRQHVFRPR
'LUHFWRU
- &XDQGRSRUKHFKRVLPSXWDEOHVDO'LUHFWRUHQVXFRQGLFLyQGHWDOVHKXELHUHRFDVLRQDGRXQGDxR
JUDYH DO SDWULPRQLR VRFLDO R SHUGLHUD OD KRQRUDELOLGDG FRPHUFLDO \ SURIHVLRQDO QHFHVDULD SDUD
RVWHQWDUODFRQGLFLyQGH'LUHFWRUGHO%DQFR
'HRWURODGRHOFDUJRGHGLUHFWRUYDFDGHDFXHUGRDORGLVSXHVWRHQHODUWtFXORGHOD/H\*HQHUDO
GHO6LVWHPD)LQDQFLHURHQORVVLJXLHQWHVVXSXHVWRV
- &XDQGRIDOWHDVHVLRQHVGHPDQHUDLQLQWHUUXPSLGDVLQOLFHQFLDGHO'LUHFWRULRSRUXQSHUtRGRGH
WUHVPHVHV
- &XDQGRVHLQFXUUDHQLQDVLVWHQFLDVFRQOLFHQFLDRVLQHOODTXHVXSHUHQODWHUFHUDSDUWHGHOWRWDO
GH VHVLRQHV FHOHEUDGDV HQ XQ ODSVR GH GRFH PHVHV TXH FXOPLQH HQ OD IHFKD GH OD ~OWLPD
DXVHQFLDVDOYRTXHHOVXSOHQWHGHVLJQDGRDVLVWDDODVHVLyQFRUUHVSRQGLHQWH
$UWtFXOR5HWULEXFLyQGHORV'LUHFWRUHV
/DUHWULEXFLyQGHORVPLHPEURVGHO'LUHFWRULRGHO%DQFRVHUHJLUiSRUORGLVSXHVWRHQHO(VWDWXWR
6RFLDOILMiQGRODDQXDOPHQWHOD-XQWD*HQHUDOGH$FFLRQLVWDVODPLVPDTXHGHEHUiHVWDUDFRUGHFRQ
ODV FRQGLFLRQHV GH PHUFDGR /D UHWULEXFLyQ D ORV PLHPEURV GHO 'LUHFWRULR GHEH FRPELQDU HO
UHFRQRFLPLHQWR D OD H[SHULHQFLD SURIHVLRQDO \ OD GHGLFDFLyQ TXH pVWRV OH GDQ D OD 6RFLHGDG FRQ
FULWHULRGHUDFLRQDOLGDG
(O SRUFHQWDMH TXH UHSUHVHQWD VXV UHPXQHUDFLRQHV UHVSHFWR GHO QLYHO GH LQJUHVRV EUXWRV GHO %DQFR
VHUi H[SXHVWR ²GH PDQHUD JOREDO± HQ OD LQIRUPDFLyQ DQXDO TXH VH Gp D ORV DFFLRQLVWDV GH OD
6RFLHGDG
3DUD HO FDVR GH 'LUHFWRUHV QR UHVLGHQWHV HQ HO 3HU~ HO %DQFR DVXPLUi DGLFLRQDOPHQWH D VX
UHWULEXFLyQORVJDVWRVGHYLDMHWDOFRPRVHLQGLFDHQHO$UWtFXORVLJXLHQWH
$UWtFXOR9LDMHVGHORV'LUHFWRUHV
/RV'LUHFWRUHVQRUHVLGHQWHVHQHO3HU~SURFXUDUiQDVLVWLUSUHVHQFLDOPHQWHDSRUORPHQRVVHVLRQHV
DODxR
(O%DQFRDVXPLUiDGHPiVGHVXUHWULEXFLyQORVJDVWRVSRUYLDMHV\YLiWLFRVHQODVFRQGLFLRQHVD
TXHVHUHILHUHHQ$QH[R,GHO5HJODPHQWRHOPLVPRTXHVHUiHQWUHJDGRDFDGD'LUHFWRUHQIRUPD
SHUVRQDO
Aprobado en Directorio del 31.03.2014
$UWtFXOR&REHUWXUDGHUHVSRQVDELOLGDGHV
(O%DQFRDVHJXUDUiPHGLDQWHXQDSyOL]DGHUHVSRQVDELOLGDGFLYLOTXHVXVFULEDFRQXQDFRPSDxtDGH
VHJXURV ODV UHVSRQVDELOLGDGHV HQ TXH SXGLHUDQ LQFXUULU ORV 'LUHFWRUHV HQ HO HMHUFLFLR GH VXV
IXQFLRQHVTXHFXEUDDQWLFLSDGDPHQWHWRGRVORVJDVWRVLQFOXLGRVORVGHDVLVWHQFLDMXUtGLFDILDQ]DV\
SUHVWDFLRQHV TXH SXGLHUDQ GHULYDUVH GH FXDOTXLHU SURFHGLPLHQWR WDQWR FLYLO FRPR SHQDO R
DGPLQLVWUDWLYRLQLFLDGRFRQWUDORV'LUHFWRUHVGHO%DQFRPDQWHQLHQGRVXVFREHUWXUDVHQYLJRUD~Q
GHVSXpVGHKDEHUFHVDGRHO'LUHFWRUHQVXFDUJR
(QWRGRFDVRHO%DQFRPDQWHQGUiDO'LUHFWRULQGHPQHGHFXDOTXLHUUHFODPDFLyQTXHVHSURGXMHUD
SRUDFWRVUHDOL]DGRVHQHOOHJtWLPRHMHUFLFLRGHVXVIXQFLRQHV
&$3,78/2,,
)XQFLRQDPLHQWRGHO'LUHFWRULR\2EOLJDFLRQHVGHO'LUHFWRU
(O 'LUHFWRULR GHO %DQFR FRQVWLWX\H FRQIRUPH D ORV (VWDWXWRV 6RFLDOHV HO yUJDQR QDWXUDO GH
UHSUHVHQWDFLyQ DGPLQLVWUDFLyQ JHVWLyQ \ FRQWURO GH OD VRFLHGDG (Q WDO VHQWLGR OH FRUUHVSRQGH
UHYLVDU \ JXLDU OD HVWUDWHJLD FRUSRUDWLYD ORV SODQHV GH DFFLyQ PiV LPSRUWDQWHV ODV SROtWLFDV GH
ULHVJRVORVSUHVXSXHVWRV\SODQHVDQXDOHVHVWDEOHFHUORVREMHWLYRVYLJLODUODLPSOHPHQWDFLyQGHORV
PLVPRV\VXFXPSOLPLHQWRDQLYHOFRUSRUDWLYR\VXSHUYLVDUODVSULQFLSDOHVDVLJQDFLRQHVGHFDSLWDO
GHVLQYHUVLRQHV\DGTXLVLFLRQHVULJLpQGRVHSRUORGLVSXHVWRHQOD/H\HQORV(VWDWXWRV6RFLDOHV\HQ
HVWH5HJODPHQWR
$UWtFXOR)XQFLRQHVGHO'LUHFWRULR
(O 'LUHFWRULR GHO %DQFR WLHQH SRU GLVSRVLFLyQ GHO (VWDWXWR VRFLDO ODV PiV DPSOLDV IDFXOWDGHV GH
UHSUHVHQWDFLyQDGPLQLVWUDFLyQJHVWLyQ\YLJLODQFLDDVtFRPRODVIDFXOWDGHVQHFHVDULDVSDUDUHDOL]DU
WRGDFODVHGHDFWRV\FRQWUDWRVGHGRPLQLR\DGPLQLVWUDFLyQ
6LQSHUMXLFLRGHORGLVSXHVWRHQHOSiUUDIRSUHFHGHQWHHO'LUHFWRULRWLHQHSRUIXQFLyQ
- 6XSHUYLVDU\HIHFWXDUHOVHJXLPLHQWRGHODDXWRFDOLILFDFLyQVREUHHOFXPSOLPLHQWRGHO&yGLJRGH
%XHQ*RELHUQR&RUSRUDWLYRSDUDODV6RFLHGDGHV3HUXDQDV
- 6XSHUYLVDU HO FXPSOLPLHQWR \ OD HIHFWLYLGDG GH ODV SUiFWLFDV GH EXHQ JRELHUQR FRUSRUDWLYR GH
DFXHUGR D ODV FXDOHV RSHUD HO %DQFR SURSRQLHQGR ORV DMXVWHV \ UHIRUPDV QHFHVDULRV SDUD OD
HMHFXFLyQFRUUHFWDGHODVSUiFWLFDVGHEXHQJRELHUQRFRUSRUDWLYR
- 6XSHUYLVDUODSROtWLFDGHLQIRUPDFLyQGHO%DQFR
- 6XSHUYLVDUTXHHO%DQFRFXPSODFRQODVVDQFLRQHVTXHOD6XSHULQWHQGHQFLDGH%DQFD6HJXURV\
$)3 OH LPSRQJD DVt FRPR YLJLODU TXH ODV VDQFLRQHV TXH SXGLHUDQ KDEHU VLGR LPSXHVWDV D VXV
DFFLRQLVWDVGLUHFWRUHV\WUDEDMDGRUHVVHDQFXPSOLGDV3DUDORVHIHFWRVHO'LUHFWRULRGHEHUiGHMDU
FRQVWDQFLD HQ HO DFWD GH OD VHVLyQ TXH FRUUHVSRQGD GH KDEHU WRPDGR FRQRFLPLHQWR GH GLFKDV
VDQFLRQHV
- ,QIRUPDU D OD -XQWD *HQHUDO GH $FFLRQLVWDV HQ OD VHVLyQ PiV SUy[LPD ODV VDQFLRQHV TXH OD
6XSHULQWHQGHQFLD GH %DQFD 6HJXURV \ $)3 LPSRQJD DO %DQFR D VXV GLUHFWRUHV D VX JHUHQWH
JHQHUDO R D VXV WUDEDMDGRUHV SRU OD FRPLVLyQ GH LQIUDFFLRQHV FDOLILFDGDV FRPR JUDYHV \ PX\
Aprobado en Directorio del 31.03.2014
JUDYHVGHMiQGRVHFRQVWDQFLDGHGLFKDFRPXQLFDFLyQHQHODFWDGHODUHVSHFWLYD-XQWD*HQHUDOGH
$FFLRQLVWDV
$UWtFXOR2SHUDWLYLGDGGHO'LUHFWRULR
(O'LUHFWRULRGHEHFRQWDUFRQXQSODQGHWUDEDMRTXHGHEHLQFOXLUORVOLQHDPLHQWRVJHQHUDOHVGHOD
6RFLHGDG HO SODQ HVWUDWpJLFR OD SROtWLFD GH ULHVJRV \ ORV SODQHV GH DFFLyQ (O Q~PHUR \ OD
SURJUDPDFLyQGHODVVHVLRQHVGHEHSHUPLWLUFXPSOLUDGHFXDGDPHQWHFRQGLFKRSODQGHWUDEDMR
$UWtFXOR6HVLRQHVGHO'LUHFWRULR
(O 'LUHFWRULR GHO %DQFR VH UHXQLUi SRU OR PHQRV XQD YH] DO PHV GHELpQGRVH HODERUDU FRQ OD
VXILFLHQWHDQWHODFLyQXQFDOHQGDULRDQXDOGHVXVVHVLRQHVRUGLQDULDV(OQ~PHUR\ODSURJUDPDFLyQ
GH ODV VHVLRQHV RUGLQDULDV GHEH SHUPLWLU HIHFWXDU HO GHELGR VHJXLPLHQWR GHO GHVHPSHxR GH OD
VRFLHGDGHQVXVDVSHFWRVUHOHYDQWHV
$GHPiV HO 'LUHFWRULR GHO %DQFR VH UHXQLUi FDGD YH] TXH OR VROLFLWH FXDOTXLHUD GH VXV 'LUHFWRUHV
7LWXODUHVRHO*HUHQWH*HQHUDO
$UWtFXOR&RQYRFDWRULDGHO'LUHFWRULR
(O'LUHFWRULRVHUiFRQYRFDGRSRUHO3UHVLGHQWH\HQVXGHIHFWRSRUHO9LFHSUHVLGHQWHTXHKDJDVXV
YHFHVHQODIRUPDTXHVHGHWHUPLQDHQORV(VWDWXWRV\FRQQRPHQRVGHWUHVGtDVGHDQWLFLSDFLyQ
/D FRQYRFDWRULD VH HIHFWXDUi SDUD ODV IHFKDV TXH VH LQGLTXHQ HQ HO FDOHQGDULR GH VHVLRQHV TXH VH
HVWDEOH]FDSDUDHODxRVLQSHUMXLFLRGHTXHHO6HFUHWDULRSRULQGLFDFLyQGHO3UHVLGHQWHHQYtHXQD
FRPXQLFDFLyQ D ORV PLHPEURV GHO 'LUHFWRULR FRQ DQWHODFLyQ VXILFLHQWH D OD VHVLyQ HQ OD TXH VH
H[SUHVH OD $JHQGD OR TXH SRGUi HIHFWXDUVH SRU FDUWD ID[ WHOHJUDPD FRUUHR HOHFWUyQLFR X RWURV
PHGLRVWHOHPiWLFRVXWLOL]DQGRORVPLVPRVPHGLRVSDUDGHMDUVLQHIHFWRODFRQYRFDWRULD
1RREVWDQWHHO'LUHFWRULRSRGUiFHOHEUDUVHHQRWUDVIHFKDVGLVWLQWDVGHODVSUHYLVWDVHQHOFDOHQGDULR
DQXDOGHVHVLRQHVVLHPSUHTXHVHDGYLHUWDDWRGRVORVPLHPEURVGHO'LUHFWRULRGHODFRQYRFDWRULD
FRQXQDDQWLFLSDFLyQPD\RUGHVLHWHGtDVVDOYRTXHSRUUD]RQHVGHXUJHQFLDHOORQRIXHUDSRVLEOHD
MXLFLRGHO3UHVLGHQWHGHO'LUHFWRULR
6HUiDVLPLVPRYiOLGDODFRQVWLWXFLyQGHO'LUHFWRULRFXDQGRHVWDQGRSUHVHQWHVWRGRVVXVPLHPEURV
pVWRVGHFLGLHUDQSRUXQDQLPLGDGFRQVWLWXLUVHHQVHVLyQ\DFHSWDUDQORVWHPDVGHODDJHQGD
$UWtFXOR2UGHQGHO'tDGHODVVHVLRQHV
$ODFRQYRFDWRULDVHDFRPSDxDUiOD$JHQGDGHODVHVLyQVLELHQSRGUiQLQFOXLUVHRWURVDVXQWRVVLDVt
OR GLVSXVLHUD HO 3UHVLGHQWH GHO 'LUHFWRULR SRU FRQVLGHUDUVH FRQYHQLHQWH SDUD HO LQWHUpV VRFLDO
SXGLHQGR GHFLGLUVH LJXDOPHQWH DXQ KHFKD OD FRQYRFDWRULD TXH DOJ~Q DVXQWR QR VHD WUDWDGR HQ OD
VHVLyQ
$UWtFXOR4XyUXPGHFRQVWLWXFLyQ\DGRSFLyQGHDFXHUGRV
(O'LUHFWRULRGHO%DQFRTXHGDUiYiOLGDPHQWHFRQVWLWXLGRFXDQGRSDUWLFLSHQDODUHXQLyQHOQ~PHUR
HQWHUR VXSHULRUD OD PLWDGGH VXV PLHPEURV GLUHFWDPHQWH RD WUDYpV GHORV 'LUHFWRUHV $OWHUQRVR
6XSOHQWHVGHVHUHOFDVR
Aprobado en Directorio del 31.03.2014
/RV DFXHUGRV VH DGRSWDUiQ SRU PD\RUtD DEVROXWD GH YRWRV GH ORV 'LUHFWRUHV SDUWLFLSDQWHV VDOYR
FXDQGRVHWUDWHGHODGHOHJDFLyQSHUPDQHQWHGHDOJXQDIDFXOWDGGHO'LUHFWRULRRGHODGHVLJQDFLyQ
GH 'LUHFWRU 'LUHFWRUHV R GH OD SHUVRQD R SHUVRQDV TXH KD\DQ GH HMHUFHU WDO GHOHJDFLyQ (Q HVWRV
FDVRVORVDFXHUGRVVHWRPDUiQFRQHOYRWRFRQIRUPHGHSRUORPHQRVODVGRVWHUFHUDVSDUWHVGHORV
'LUHFWRUHVSUHVHQWHV
$UWtFXOR5HSUHVHQWDFLyQ
(OFDUJRGH'LUHFWRUGHO%DQFRHVSHUVRQDOHLQGHOHJDEOH
$UWtFXOR$GRSFLyQGHDFXHUGRVSRUHVFULWR\VLQVHVLyQ
(O'LUHFWRULRSRGUiDGRSWDUDFXHUGRVIXHUDGHVHVLyQVLHPSUHTXHVHDFXHUGHQSRUXQDQLPLGDG\VH
FRQILUPHQSRUHVFULWR
7DPELpQ SRGUiQUHDOL]DUVH VHVLRQHV QR SUHVHQFLDOHV D WUDYpV GH YLGHRFRQIHUHQFLDV X RWURV PHGLRV
HVFULWRVRHOHFWUyQLFRVVLHPSUHTXHQLQJ~Q'LUHFWRUVHRSRQJDDHVWHSURFHGLPLHQWR
$UWtFXOR'HVDUUROORGHODVVHVLRQHV
/DV VHVLRQHV GHO 'LUHFWRULR GHO %DQFR VH FHOHEUDUiQ HQ HO OXJDU IHFKD \ KRUD TXH VH KXELHUH
VHxDODGR VLJXLHQGR HO RUGHQ GHO GtD HVWDEOHFLGR DO HIHFWR SRU HO 3UHVLGHQWH TXLHQ GLULJLUi VXV
GHOLEHUDFLRQHV\GLVFXVLRQHV
(QFDVRGHLPSHGLPHQWRGHO3UHVLGHQWHSUHVLGLUiODVVHVLRQHVHO3ULPHU9LFHSUHVLGHQWHHQDXVHQFLD
GHORVGRVDQWHULRUHVODVSUHVLGLUiHO6HJXQGR9LFHSUHVLGHQWHRHQVXDXVHQFLDHO'LUHFWRUGHPiV
HGDGRHOPiVDQWLJXRVHJ~QHO(VWDWXWR
/RV'LUHFWRUHVGLVSRQGUiQGHFXDQWDLQIRUPDFLyQRDFODUDFLRQHVHVWLPHQQHFHVDULDVRFRQYHQLHQWHV
HQ UHODFLyQ FRQ ORV DVXQWRV TXH VH WUDWHQ HQ OD VHVLyQ OR TXH SRGUi UHDOL]DUVH DQWHV R GXUDQWH HO
GHVDUUROORGHpVWDV
(O 3UHVLGHQWH SURPRYHUi OD SDUWLFLSDFLyQ GH ORV 'LUHFWRUHV HQ ODV UHXQLRQHV \ GHOLEHUDFLRQHV GHO
'LUHFWRULR\VRPHWHUiORVDVXQWRVDYRWDFLyQFXDQGRORVFRQVLGHUHVXILFLHQWHPHQWHGHEDWLGRV
$ ODV VHVLRQHV SRGUiQ LQFRUSRUDUVH HMHFXWLYRV GHO *UXSR X RWUDV SHUVRQDV FX\D SUHVHQFLD VH
FRQVLGHUH FRQYHQLHQWH SDUD HO PiV DGHFXDGR WUDWDPLHQWR GH ORV DVXQWRV VRPHWLGRV D OD
FRQVLGHUDFLyQGHO'LUHFWRULRVLDVtORGLVSXVLHUDHO3UHVLGHQWH
$UWtFXOR$FWDV
&RUUHVSRQGHUi DO 6HFUHWDULR FRQILJXUDU OD UHGDFFLyQ GHILQLWLYD GHO $FWD VREUH OD EDVH GH ODV
FRQVLGHUDFLRQHV\DFXHUGRVTXHVHKXELHUHQWUDWDGRHQODVHVLyQ\VXWH[WRVHSRQGUiDGLVSRVLFLyQ
SDUDVXVXVFULSFLyQGHQWURGHOSOD]RGHGtDV~WLOHV
/DV$FWDVGHODVVHVLRQHVGHO'LUHFWRULRGHO%DQFRVHUiQILUPDGDVSRUHO'LUHFWRUTXHSUHVLGLyOD
VHVLyQSRUHO*HUHQWH*HQHUDO\SRUTXLHQDFWXyFRPR6HFUHWDULRVLQSHUMXLFLRGHOGHUHFKRGHORV
GHPiV'LUHFWRUHVGHVXVFULELUODVVLDVtORTXLVLHVHQ
$UWtFXOR&RPLWpVGHO'LUHFWRULR
Aprobado en Directorio del 31.03.2014
(O'LUHFWRULRGHO%DQFRSDUDHOPHMRUGHVHPSHxRGHVXVIXQFLRQHVSRGUiFUHDUORV&RPLWpVTXH
FRQVLGHUHQHFHVDULRVSDUDTXHOHDVLVWDQVREUHDTXHOODVFXHVWLRQHVTXHFRUUHVSRQGDQDODVPDWHULDV
SURSLDVGHVXFRPSHWHQFLD3DUDODVXSHUYLVLyQWDQWRGHORVHVWDGRVILQDQFLHURVFRPRGHOHMHUFLFLR
GHODIXQFLyQGHFRQWUROHO'LUHFWRULRGHO%DQFRFRQWDUiFRQXQ&RPLWpGH$XGLWRULDTXHGLVSRQGUi
GHODVFRPSHWHQFLDV\PHGLRVQHFHVDULRVSDUDHOHMHUFLFLRGHHVWDIXQGDPHQWDOIXQFLyQHQHOiPELWR
VRFLDO
7DQWR OD GHWHUPLQDFLyQ GHO Q~PHUR GH &RPLWpV FRPR VX GHQRPLQDFLyQ \ VXV IXQFLRQHV VHUiQ
HVWDEOHFLGDVSRUODVOH\HVSHUWLQHQWHVRHQVXGHIHFWRSRUHO'LUHFWRULRTXHWDPELpQGHVLJQDUiR
UHYRFDUiHOQRPEUDPLHQWRGHVXVPLHPEURV\QRPEUDUiRUHYRFDUiDVXV3UHVLGHQWHVUHVSHFWLYRV
$VLPLVPRHO'LUHFWRULRDSUXHEDORVUHJODPHQWRVTXHULJHQDFDGDXQRGHORVFRPLWpVHVSHFLDOHVTXH
FRQVWLWX\H
(O'LUHFWRULRGHO%DQFRSRGUiHVWDEOHFHUUHJODVFRPSOHPHQWDULDVSDUDHOPHMRUIXQFLRQDPLHQWRGH
ORV &RPLWpV GHO 'LUHFWRULR VLHPSUH TXH QR FRQWUDGLJDQ OR GLVSXHVWR SRU ODV QRUPDV OHJDOHV \
UHJODPHQWDULDV\SRUHVWH5HJODPHQWR
$UWtFXOR(YDOXDFLyQ
(O 'LUHFWRULR GHEH HYDOXDU UHJXODUPHQWH \ GH PDQHUD REMHWLYD DO PHQRV XQD YH] DO DxR VX
GHVHPSHxR FRPR yUJDQR FROHJLDGR \ HO GH VXV PLHPEURV D WUDYpV GH OD PHWRGRORJtD GH OD
DXWRHYDOXDFLyQ\SRGUiUHFXUULUDDVHVRUHVH[WHUQRV
$VLPLVPR HO 'LUHFWRULR GHEH HYDOXDU FRQ SHULRGLFLGDG DQXDO HO GHVHPSHxR GH OD *HUHQFLD
*HQHUDO
$UWtFXOR,QFRPSDWLELOLGDGSRVWHULRUDOFHVH
(OGLUHFWRUTXHGHMDUDGHSHUWHQHFHUDO'LUHFWRULRGHO%DQFRQRSRGUiSUHVWDUVHUYLFLRVDRWUDHQWLGDG
ILQDQFLHUD FRPSHWLGRUD GH pVWH R GH VXV ILOLDOHV GXUDQWH HO SOD]R GH GRV DxRV D SDUWLU GH VX
VHSDUDFLyQGHO'LUHFWRULRVDOYRTXHPHGLHODDXWRUL]DFLyQH[SUHVDGHpVWHTXHSRGUiGHQHJDUODSRU
UD]RQHVGHLQWHUpVVRFLDO
$UWtFXOR5HODFLRQHVFRQORVDFFLRQLVWDV\PHUFDGRV
(O'LUHFWRULRGHO%DQFRGHQWURGHOSULQFLSLRGHWUDQVSDUHQFLDTXHGHEHSUHVLGLUVXDFWXDFLyQHQORV
PHUFDGRV ILQDQFLHURV HVWDEOHFHUi ORV PHGLRV DGHFXDGRV SDUD DVHJXUDU TXH OD HQWLGDG FRPXQLTXH
WRGD DTXHOOD LQIRUPDFLyQ TXH SXHGD UHVXOWDU UHOHYDQWH SDUD ORV DFFLRQLVWDV H LQYHUVRUHV HQ IRUPD
FRUUHFWD\YHUD]
$HVWRVHIHFWRVODHQWLGDGSURFXUDUiGLIXQGLUDWUDYpVGHVXSiJLQDZHEWDQWRORVKHFKRVUHOHYDQWHV
TXH SXHGDQ LQIOXLU GH IRUPD VHQVLEOH HQ OD FRWL]DFLyQ EXUViWLO GH OD DFFLyQ FRPR DTXHOODV RWUDV
LQIRUPDFLRQHV FX\D GLIXVLyQ SRU HVWH PHGLR VHD UHTXHULGD SRU OD QRUPDWLYD DSOLFDEOH R VH
FRQVLGHUDVHFRQYHQLHQWHSRUODHQWLGDGSDUDHOPHMRUFXPSOLPLHQWRGHORVREMHWLYRVPHQFLRQDGRV
&XDQGR HO 'LUHFWRULR SURSRQJD XQD RSHUDFLyQ FRUSRUDWLYD TXH SXGLHUD DIHFWDU HO GHUHFKR GH QR
GLOXFLyQGHORVDFFLRQLVWDVVHGHEHFRQWDUSUHYLDPHQWHFRQXQLQIRUPHGHWDOODGRHODERUDGRSRUHO
'LUHFWRULR TXH GHEH FRQWDU FRQ OD RSLQLyQ LQGHSHQGLHQWH GH XQ DVHVRU H[WHUQR GH UHFRQRFLGD
VROYHQFLDSURIHVLRQDO
$UWtFXOR &ULWHULRV SDUD GHWHUPLQDU VL OD LQIRUPDFLyQ VROLFLWDGD SRU DFFLRQLVWDV R
LQYHUVRUHVUHODFLRQDGRVFRQHO%DQFRHVFRQILGHQFLDO
Aprobado en Directorio del 31.03.2014
6HFRQVLGHUDLQIRUPDFLyQFRQILGHQFLDOSDUDHIHFWRVGHDWHQGHUODVVROLFLWXGHVGHLQIRUPDFLyQGHORV
DFFLRQLVWDV H LQYHUVRUHV UHODFLRQDGRV FRQ HO %DQFR D WRGD DTXHOOD LQIRUPDFLyQ FX\D UHYHODFLyQ
SXGLHUD SRQHU HQ ULHVJR HO LQWHUpV VRFLDO GHO %DQFR R GH ODV SHUVRQDV MXUtGLFDV TXH FRQIRUPDQ VX
JUXSRHFRQyPLFRODSRVLFLyQFRPSHWLWLYDGHpVWRVRHOQRUPDOGHVDUUROORGHVXVDFWLYLGDGHV
(QWUHRWUDLQIRUPDFLyQODVLJXLHQWHLQIRUPDFLyQHVFRQVLGHUDGDLQIRUPDFLyQFRQILGHQFLDO
• ,QIRUPDFLyQUHVHUYDGDRSULYLOHJLDGDGHFRQIRUPLGDGFRQODQRUPDWLYDDSOLFDEOH\ODVQRUPDV\
SROtWLFDVLQWHUQDVGHO%DQFR
• ,QIRUPDFLyQUHODFLRQDGDFRQORVFOLHQWHVGHO%DQFRRGHODVSHUVRQDVMXUtGLFDVTXHFRQIRUPDQVX
JUXSRHFRQyPLFR
• ,QIRUPDFLyQUHIHULGDDGDWRVSHUVRQDOHVGHORVFOLHQWHVRWUDEDMDGRUHVGHO%DQFR
• ,QIRUPDFLyQSURWHJLGDSRUHOVHFUHWREDQFDULRODUHVHUYDEXUViWLORODUHVHUYDWULEXWDULD
• 3UHVXSXHVWRV\SUR\HFFLRQHVILQDQFLHUDV\HFRQyPLFDV
• ,QIRUPDFLyQVREUHODHVWUDWHJLDGHQHJRFLRVGHO%DQFRRGHODVSHUVRQDVMXUtGLFDVTXHFRQIRUPDQ
VXJUXSRHFRQyPLFR
• /RVVHFUHWRVFRPHUFLDOHV\HPSUHVDULDOHV
$UWtFXOR3URJUDPDVGH,QGXFFLyQDQXHYRV'LUHFWRUHV
$ FDGD QXHYR 'LUHFWRU VH OH SURSRUFLRQDUi FRSLD GHO 5HJODPHQWR GHO 'LUHFWRULR DGHFXDGR DO
&yGLJR GH %XHQ *RELHUQR &RUSRUDWLYR HO 0DQXDO GH 2EOLJDFLRQHV GHO 'LUHFWRULR GHELGDPHQWH
DFWXDOL]DGRHO3ODQ$QXDOGHO'LUHFWRULRSDUDHOSUHVHQWHHMHUFLFLROD5HVSRQVDELOLGDGGHO'LUHFWRU
\HO5HJODPHQWRGH-XQWDGH$FFLRQLVWDV
$UWtFXOR5HVSRQVDELOLGDG6RFLDO&RUSRUDWLYD
(O'LUHFWRULRGHO%DQFRFRQVFLHQWHGHODUHVSRQVDELOLGDGTXHFRUUHVSRQGHDO%DQFRUHVSHFWRDOD
VRFLHGDGVHFRPSURPHWHDTXHVXDFWLYLGDGVHGHVDUUROOHGHDFXHUGRFRQXQFRQMXQWRGHYDORUHV
SULQFLSLRV FULWHULRV \ DFWLWXGHV GHVWLQDGRV D ORJUDU OD FUHDFLyQ VRVWHQLGD GH YDORU SDUD ORV
DFFLRQLVWDVHPSOHDGRVFOLHQWHVSURYHHGRUHV\SDUDHOFRQMXQWRGHODVRFLHGDG
3DUD HOOR FXLGDUi TXH OD DFWLYLGDG HPSUHVDULDO VH OOHYH D FDER HQ FXPSOLPLHQWR GH OD OHJDOLGDG
YLJHQWH HQ FDGD PRPHQWR OD EXHQD IH \ ODV PHMRUHV SUiFWLFDV PHUFDQWLOHV \ IRPHQWDUi OD
LPSODQWDFLyQ \ GHVDUUROOR GH XQRV SULQFLSLRV pWLFRV EDVDGRV HQ OD LQWHJULGDG WUDQVSDUHQFLD \
FRPSURPLVR FRQ OD VRFLHGDG TXH VLUYDQ GH EDVH D OD FXOWXUD FRUSRUDWLYD \ HQ FRQVHFXHQFLD D OD
DFWXDFLyQHQHOiPELWRGHORVQHJRFLRVGHWRGDVODVSHUVRQDVTXHIRUPDQSDUWHGHODHPSUHVD
&$3Ë78/2,,,
&RPLWpVGHO'LUHFWRULR
&RPLWpGH$XGLWRUtD
$UWtFXOR&RPSRVLFLyQ
Aprobado en Directorio del 31.03.2014
/DFRPSRVLFLyQ\IXQFLRQDPLHQWRGHO&RPLWpGH$XGLWRULDVHUHJXODSRUODVQRUPDVUHJODPHQWDULDV
GLFWDGDVSRUOD6XSHULQWHQGHQFLDGH%DQFD\6HJXURV\$)3
(O&RPLWpGH$XGLWRUtDHVWDUiFRQIRUPDGRSRUXQPtQLPRGHWUHVGLUHFWRUHVGHELHQGRUHQRYDUVH
FDGDWUHVDxRV8QRGHORVGLUHFWRUHVWHQGUiODFDOLGDGGHGLUHFWRULQGHSHQGLHQWH
$UWtFXOR)XQFLRQHVGHO&RPLWpGH$XGLWRUtD
/DVSULQFLSDOHVIXQFLRQHVGHO&RPLWpGH$XGLWRUtDVRQODVVLJXLHQWHV
D 9LJLODUHODGHFXDGRIXQFLRQDPLHQWRGHOVLVWHPDGHFRQWUROLQWHUQR
E 9LJLODU \ PDQWHQHU LQIRUPDGR DO GLUHFWRULR VREUH HO FXPSOLPLHQWR GH ODV SROtWLFDV \
SURFHGLPLHQWRVLQWHUQRV\VREUHODGHWHFFLyQGHSUREOHPDVGHFRQWURO\DGPLQLVWUDFLyQLQWHUQD
DVt FRPR GH ODV PHGLGDV FRUUHFWLYDV LPSOHPHQWDGDV HQ IXQFLyQ GH ODV HYDOXDFLRQHV UHDOL]DGDV
SRUOD$XGLWRUtD,QWHUQDORV$XGLWRUHV([WHUQRV\OD6XSHULQWHQGHQFLDGH%DQFD6HJXURV\$)3
F 9LJLODU HO FXPSOLPLHQWR GH OD QRUPDWLYD DSOLFDEOH GH iPELWR QDFLRQDO R LQWHUQDFLRQDO HQ
DVXQWRVUHODFLRQDGRVFRQHOODYDGRGHDFWLYRVFRQGXFWDVHQORVPHUFDGRVGHYDORUHVSURWHFFLyQ
GHGDWRV\HODOFDQFHGHODVDFWXDFLRQHVGHO%DQFRHQPDWHULDGHFRPSHWHQFLDDVtFRPRTXHORV
UHTXHULPLHQWRV GH LQIRUPDFLyQ R DFWXDFLyQ TXH KLFLHUHQ ORV RUJDQLVPRV RILFLDOHV FRPSHWHQWHV
VREUHHVWDVPDWHULDVVRQDWHQGLGRVHQWLHPSR\IRUPDDGHFXDGRV\
G $VHJXUDUVH GH TXHORV &yGLJRV pWLFRV \ GH &RQGXFWD,QWHUQRV \ DQWH ORV PHUFDGRV GH YDORUHV
DSOLFDEOHVDORVVXMHWRVREOLJDGRVFXPSODQODVH[LJHQFLDVQRUPDWLYDV\VHDQDGHFXDGRVSDUDHO
%DQFR
H ,QIRUPDU DO 'LUHFWRULR VREUH OD H[LVWHQFLD GH OLPLWDFLRQHV HQ OD FRQILDELOLGDG GH ORV SURFHVRV
FRQWDEOHV\ILQDQFLHURV
I 'HILQLU ORV FULWHULRV SDUD OD VHOHFFLyQ \ FRQWUDWDFLyQ GH ORV DXGLWRUHV H[WHUQRV HYDOXDU VX
GHVHPSHxR DVt FRPR GHWHUPLQDU ORV LQIRUPHV FRPSOHPHQWDULRV TXH UHTXLHUDQ SDUD HO PHMRU
GHVHPSHxRGHVXVIXQFLRQHVRHOFXPSOLPLHQWRGHUHTXLVLWRVOHJDOHVVDOYRHQDTXHOORVFDVRVHQ
ORVTXHHOFRPLWpGHDXGLWRUtDGHODFDVDPDWUL]DVXPDODVIXQFLRQHVGHGHILQLUORVFULWHULRVSDUD
ODVHOHFFLyQ\FRQWUDWDFLyQGHORVDXGLWRUHVH[WHUQRVDVtFRPRODHYDOXDFLyQGHVXVGHVHPSHxR
\
J 'HILQLU ORV FULWHULRV SDUD OD VHOHFFLyQ \ FRQWUDWDFLyQ GHO DXGLWRU LQWHUQR \ VXV SULQFLSDOHV
FRODERUDGRUHVILMDUVXUHPXQHUDFLyQ\HYDOXDUVXGHVHPSHxRDVtFRPRVXUpJLPHQGHLQFHQWLYRV
PRQHWDULRV VDOYR TXH GLFKDV IXQFLRQHV VHDQ DVXPLGDV SRU HO FRPLWp GH DXGLWRUtD GH OD FDVD
PDWUL]
$VLPLVPR GHQWUR GH HVWH iPELWR REMHWLYR HO 'LUHFWRULR GHWDOODUi ODV IXQFLRQHV GHO &RPLWp GH
$XGLWRULDDWUDYpVGHXQUHJODPHQWRHVSHFtILFRHOPLVPRTXHHVWDEOHFHUiORVSURFHGLPLHQWRVTXHOH
SHUPLWDQFXPSOLUFRQVXFRPHWLGRFRPSOHPHQWDULDPHQWHDORGLVSXHVWRHQHOSUHVHQWH5HJODPHQWR
$UWtFXOR5HJODVGHRUJDQL]DFLyQ\IXQFLRQDPLHQWR
(O&RPLWpGH$XGLWRUtDVHUHXQLUiFRQODIUHFXHQFLDTXHIXHUHQHFHVDULDSDUDHOFXPSOLPLHQWRGHVXV
IXQFLRQHVVLELHQVHHVWDEOHFHUiXQFDOHQGDULRDQXDOGHVHVLRQHVDFRUGHFRQVXVFRPHWLGRV$ODV
VHVLRQHV SRGUiQ VHU FRQYRFDGRV ODV SHUVRQDV TXH WHQJDQ FRQRFLPLHQWR R UHVSRQVDELOLGDG HQ ORV
Aprobado en Directorio del 31.03.2014
DVXQWRV FRPSUHQGLGRV HQ HO RUGHQ GHO GtD FXDQGR VX SUHVHQFLD HQ OD VHVLyQ VH FRQVLGHUH
FRQYHQLHQWHDXQTXHVyORSRGUiQHVWDUSUHVHQWHVORVPLHPEURVGHO&RPLWp\HO6HFUHWDULRFXDQGRVH
HYDO~HQORVUHVXOWDGRV\ODVFRQFOXVLRQHVGHORWUDWDGRHQODVHVLyQ
&RPLWpGH1RPEUDPLHQWRV\5HPXQHUDFLRQHV
$UWtFXOR)XQFLRQHV
(O&RPLWpGH1RPEUDPLHQWRV\5HPXQHUDFLRQHVGHO'LUHFWRULRGHO%DQFRTXHGDFRQILJXUDGRFRPR
XQ yUJDQR VLQ QDWXUDOH]D HMHFXWLYD WHQGUi FRPR XQD GH VXV SULQFLSDOHV IXQFLRQHV DVLVWLU DO
'LUHFWRULRHQFXHVWLRQHVUHODWLYDVDORVDVSHFWRVUHOHYDQWHVGHODSROtWLFDJHQHUDOVDODULDOGHO%DQFR
HQHVSHFLDOORVSURPHGLRVGHUHWULEXFLyQILMD\YDULDEOHGHO&RQMXQWRGHORVPLHPEURVGHO&RPLWpGH
'LUHFFLyQ \ KDFHU DO 'LUHFWRULR ODV SURSXHVWDV TXH FRQVLGHUH QHFHVDULDV VREUH HO SDUWLFXODU
$VLPLVPRVHHQFDUJDGHQRPLQDUDORVFDQGLGDWRVDPLHPEURGHO'LUHFWRULRTXHVRQSURSXHVWRV
DQWHVOD-XQWD*HQHUDOGH$FFLRQLVWDVSRUHO'LUHFWRULR
'HODPLVPDPDQHUDSRGUiGHVLJQDUDODSODQDJHUHQFLDOTXHLQWHJUDHOHTXLSRGLUHFWLYRGHO%DQFR
YHULILFDQGRHOFXPSOLPLHQWRGHORVUHTXLVLWRVGHVROYHQFLDPRUDO\FDSDFLGDGSURIHVLRQDOGHGLFKRV
IXQFLRQDULRVGDQGRFXHQWDDO'LUHFWRULRGHWDOHVGHVLJQDFLRQHV
$UWtFXOR&RPSRVLFLyQ
(O &RPLWp GH 1RPEUDPLHQWRV \ 5HPXQHUDFLRQHV HVWDUi FRQIRUPDGR SRU QR PHQRV GH WUHV
'LUHFWRUHVGHO%DQFRHOHJLGRVFDGDDxRSRUHO'LUHFWRULRSDUDWDOHIHFWRXQRGHORVFXDOHVVHUiHO
'LUHFWRU*HUHQWH*HQHUDO
$UWtFXOR5HJODPHQWR
(O 'LUHFWRULR DSUREDUi XQ UHJODPHQWR HQ HO TXH VH LQFOXLUi ODV QRUPDV VREUH RUJDQL]DFLyQ \
IXQFLRQHVGHO&RPLWpGH1RPEUDPLHQWR\5HPXQHUDFLRQHV
&RPLWpGH5LHVJRV
$UWtFXOR*HVWLyQ,QWHJUDOGH5LHVJRV
/D *HVWLyQ ,QWHJUDO GH 5LHVJRV GHEH HVWDU GLVHxDGD SDUD FRQWDU FRQ XQ HQWRUQR DSURSLDGR
GHVDUUROODU XQD DGHFXDGD GHWHUPLQDFLyQ GH REMHWLYRV LPSOHPHQWDU XQD RSRUWXQD LGHQWLILFDFLyQ
HYDOXDFLyQWUDWDPLHQWR\FRQWUROGHULHVJRVDVtFRPRHODERUDUORVUHSRUWHVSHUWLQHQWHV\HIHFWXDUXQ
DGHFXDGRPRQLWRUHR
(Q HVWH VHQWLGR OD *HVWLyQ ,QWHJUDO GH 5LHVJRV HV XQ SURFHVR HIHFWXDGR SRU HO 'LUHFWRULR OD
*HUHQFLD\HOSHUVRQDODSOLFDGRHQWRGRHO%DQFR\HQODGHILQLFLyQGHVXHVWUDWHJLDGLVHxDGRSDUD
LGHQWLILFDU SRWHQFLDOHV HYHQWRV TXH SXHGHQ DIHFWDUOD JHVWLRQDUORV GH DFXHUGR D VX DSHWLWR SRU HO
ULHVJR\SURYHHUXQDVHJXULGDGUD]RQDEOHHQHOORJURGHVXVREMHWLYRV
&DEH VHxDODU TXH HO 'LUHFWRULR HV UHVSRQVDEOH GH HVWDEOHFHU XQD JHVWLyQ LQWHJUDO GH ULHVJRV \ GH
SURSLFLDU XQ DPELHQWH LQWHUQR TXH IDFLOLWH VX GHVDUUROOR DGHFXDGR (QWUH VXV UHVSRQVDELOLGDGHV
HVSHFtILFDVHVWiQ
D $SUREDUODVSROtWLFDVJHQHUDOHVTXHJXtHQODVDFWLYLGDGHVGHO%DQFRHQODJHVWLyQGHORVGLYHUVRV
ULHVJRVTXHHQIUHQWD
Aprobado en Directorio del 31.03.2014
E 6HOHFFLRQDUXQDSODQDJHUHQFLDOFRQLGRQHLGDGWpFQLFD\PRUDOTXHDFW~HGHIRUPDSUXGHQWH\
DSURSLDGDHQHOGHVDUUROORGHVXVQHJRFLRV\RSHUDFLRQHVDVtFRPRHQHOFXPSOLPLHQWRGHVXV
UHVSRQVDELOLGDGHV
F $SUREDUORVUHFXUVRVQHFHVDULRVSDUDHODGHFXDGRGHVDUUROORGHOD*HVWLyQ,QWHJUDOGH5LHVJRVD
ILQGHFRQWDUFRQODLQIUDHVWUXFWXUDPHWRGRORJtD\SHUVRQDODSURSLDGR
G (VWDEOHFHU XQ VLVWHPD GH LQFHQWLYRV TXH IRPHQWH HO DGHFXDGR IXQFLRQDPLHQWR GH XQD JHVWLyQ
LQWHJUDOGHULHVJRV\TXHQRIDYRUH]FDODWRPDLQDSURSLDGDGHULHVJRV
H $SUREDU ORV PDQXDOHV GH RUJDQL]DFLyQ \ IXQFLRQHV GH SROtWLFDV \ SURFHGLPLHQWRV \ GHPiV
PDQXDOHVGHO%DQFR
I $SUREDUSROtWLFDVJHQHUDOHVSDUDODVUHVSRQVDELOLGDGHVDFDUJRGHO%DQFRLQFOX\HQGR
- /DDGPLQLVWUDFLyQSUXGHQWH\VHJ~QORVDFXHUGRVHVWDEOHFLGRVRODUHJXODFLyQDSOLFDEOHGHORV
DFWLYRVHQGHSyVLWR\HQFXVWRGLDDGPLQLVWUDGRVRLQYHUWLGRVSRUFXHQWDGHFOLHQWHV\WHUFHURV
HYLWDQGRFRQIOLFWRVGHLQWHUpV
- $VHJXUDUUD]RQDEOHPHQWHTXHORVFRQVHMRVGHLQYHUVLyQRVLPLODUHVUHDOL]DGRVHQVXiPELWRVRQ
SUHVHQWDGRVFRQODLQIRUPDFLyQDSURSLDGDDOWHQHUHQFXHQWDODWROHUDQFLDDOULHVJR\H[SHFWDWLYD
GHUHQGLPLHQWRGHOFOLHQWH
J (VWDEOHFHU ORV REMHWLYRV HPSUHVDULDOHV HYDOXDU \ DSUREDU VXV SODQHV GH QHJRFLRV FRQ GHELGD
FRQVLGHUDFLyQDORVULHVJRVDVRFLDGRV
K &RQRFHUORVSULQFLSDOHVULHVJRVDIURQWDGRVSRUODHQWLGDGHVWDEOHFLHQGRFXDQGRHOORVHDSRVLEOH
DGHFXDGRVQLYHOHVGHWROHUDQFLD\DSHWLWRSRUHOULHVJR
L (VWDEOHFHU XQ VLVWHPD DGHFXDGR GH GHOHJDFLyQ GH IDFXOWDGHV \ GH VHJUHJDFLyQ GH IXQFLRQHV D
WUDYpVGHWRGDODRUJDQL]DFLyQ
M $VHJXUDUUD]RQDEOHPHQWHTXHHOSDWULPRQLRFRQWDEOHGHO%DQFRVHDVXILFLHQWHSDUDHQIUHQWDUORV
ULHVJRVDORVTXHHVWiH[SXHVWRSDUDORFXDOGHEHFRQRFHUODVQHFHVLGDGHVGHFDSLWDO\HVWDEOHFHU
SROtWLFDV GH JHVWLyQ TXH DSR\H ODV QHFHVLGDGHV GHO %DQFR FXPSOLHQGR FRQ ORV UHTXHULPLHQWRV
UHJXODWRULRVGHPDQHUDDSURSLDGD
N 2EWHQHUDVHJXUDPLHQWRUD]RQDEOHTXHHO%DQFRFXHQWDFRQXQDHIHFWLYDJHVWLyQGHORVULHVJRVD
TXHHVWiH[SXHVWD\TXHORVSULQFLSDOHVULHVJRVVHHQFXHQWUDQEDMRFRQWUROGHQWURGHORVOtPLWHV
TXHKDQHVWDEOHFLGR
$UWtFXOR&RPSRVLFLyQ\IXQFLRQDPLHQWR
(O &RPLWp GH 5LHVJRV HVWi FRQIRUPDGR SRU DO PHQRV XQ PLHPEUR GHO 'LUHFWRULR \ VH RUJDQL]DUi
FRPRXQFRPLWpLQWHJUDOTXHGHEHUiDEDUFDUODVGHFLVLRQHVTXHDWDxHQDORVULHVJRVVLJQLILFDWLYRVD
ORVTXHHVWpH[SXHVWRHO%DQFR6HUH~QHXQDYH]DOPHV
(Q HVWH VHQWLGR HO 'LUHFWRULR SRGUi FUHDU ORV FRPLWpV GH ULHVJRV HVSHFLDOL]DGRV TXH FRQVLGHUH
QHFHVDULRVHQUD]yQGHOWDPDxR\FRPSOHMLGDGGHODVRSHUDFLRQHV\VHUYLFLRVGHO%DQFR
Aprobado en Directorio del 31.03.2014
$UWtFXOR)XQFLRQHV
D $SUREDU ODV SROtWLFDV \ OD RUJDQL]DFLyQ SDUD OD *HVWLyQ ,QWHJUDO GH 5LHVJRV DVt FRPR ODV
PRGLILFDFLRQHVTXHVHUHDOLFHQDORVPLVPRV
E 'HILQLUHOQLYHOGHWROHUDQFLD\HOJUDGRGHH[SRVLFLyQDOULHVJRTXHODHPSUHVDHVWiGLVSXHVWDD
DVXPLUHQHOGHVDUUROORGHOQHJRFLR
F 'HFLGLUODVDFFLRQHVQHFHVDULDVSDUDODLPSOHPHQWDFLyQGHODVDFFLRQHVFRUUHFWLYDVUHTXHULGDVHQ
FDVR H[LVWDQ GHVYLDFLRQHV FRQ UHVSHFWR D ORV QLYHOHV GH WROHUDQFLD DO ULHVJR \ D ORV JUDGRV GH
H[SRVLFLyQDVXPLGRV
G $SUREDUODWRPDGHH[SRVLFLRQHVTXHLQYROXFUHQYDULDFLRQHVVLJQLILFDWLYDVHQHOSHUILOGHULHVJR
GHODHPSUHVDRGHORVSDWULPRQLRVDGPLQLVWUDGRVEDMRUHVSRQVDELOLGDGGHODHPSUHVD
H (YDOXDUODVXILFLHQFLDGHFDSLWDOGHODHPSUHVDSDUDHQIUHQWDUVXVULHVJRV\DOHUWDUGHODVSRVLEOHV
LQVXILFLHQFLDV
&RPLWpGH%XHQ*RELHUQR&RUSRUDWLYR
$UWtFXOR&RQVWLWXFLyQ
(O&RPLWpGH%XHQ*RELHUQR&RUSRUDWLYRVHFRQVWLWX\HFRQHOREMHWLYRGHHIHFWXDUXQDVXSHUYLVLyQ
HIHFWLYDGHOFXPSOLPLHQWRGHODVSUiFWLFDVGHEXHQJRELHUQRFRUSRUDWLYRGHO%DQFR
(O&RPLWpGH%XHQ*RELHUQR&RUSRUDWLYRHVWDUiFRQIRUPDGRSRUWUHV'LUHFWRUHV(O3UHVLGHQWHGHO
&RPLWp\VXVPLHPEURVVHUiQGHVLJQDGRVSRUHOGLUHFWRULRGHO%DQFRSRUXQSHUtRGRGHGRVDxRV
SXGLHQGR VHU UHHOHJLGRV LQGHILQLGDPHQWH 6H UHXQLUi RUGLQDULDPHQWH FXDWUR YHFHV GXUDQWH HO
HMHUFLFLR\HQIRUPDH[WUDRUGLQDULDFRQODIUHFXHQFLDTXHIXHVHQHFHVDULDSDUDHOFXPSOLPLHQWRGH
VXVILQHV
$UWtFXOR)XQFLRQHV
6RQIXQFLRQHVGHO&RPLWpGH%XHQ*RELHUQR&RUSRUDWLYRODVVLJXLHQWHV
D &RQRFHUFXPSOLU\KDFHUFXPSOLUHOUHJODPHQWR
E 9HODUSDUDTXHORVDFFLRQLVWDV\HOPHUFDGRHQJHQHUDOWHQJDQDFFHVRGHPDQHUDFRPSOHWDYHUD]
\RSRUWXQDDODLQIRUPDFLyQTXHHQFDOLGDGGHHPLVRUGHEDUHYHODUVH
F 5HYLVDU OD PDQHUD HQ TXH HO 'LUHFWRULR GH OD VRFLHGDG GD FXPSOLPLHQWR D VXV GHEHUHV FRQ
UHODFLyQDORVDFFLRQLVWDVHLQYHUVLRQLVWDV
G 6XSHUYLVDUODVSUiFWLFDV\SROtWLFDVGHJRELHUQRFRUSRUDWLYR\SURSRQHUPHMRUDVDODVPLVPDV
H 0DQWHQHUVHDOGtDVREUHODVPHMRUHVSUiFWLFDV\RWURVDYDQFHVHQHOiUHDGHJRELHUQRFRUSRUDWLYR
I (ODERUDXQLQIRUPHDQXDOGHQWURGHOSULPHUFXDWULPHVWUHGHODxRTXHYHUVHVREUHODVDFWLYLGDGHV
GHO&RPLWpHOPLVPRTXHVHUiSUHVHQWDGR\DSUREDGRSRUHO'LUHFWRULR
Aprobado en Directorio del 31.03.2014
J 9LJLODU TXH HO SUHVHQWH 5HJODPHQWR VH HQFXHQWUH D GLVSRVLFLyQ GH ORV DFFLRQLVWDV \ JUXSRV GH
LQWHUpVDWUDYpVGHVXSXEOLFDFLyQHQODSiJLQDZHEGHOD6RFLHGDG
K /DGHPiVDFRUGHFRQODQDWXUDOH]DGHOREMHWLYRGHO&RPLWp
(OGLUHFWRULRSRGUiDVLJQDUIXQFLRQHVDGLFLRQDOHVDODVHVWDEOHFLGDV
&RPLWpGH&XPSOLPLHQWR
$UWtFXOR)LQDOLGDG
(O&RPLWpGH&XPSOLPLHQWRWLHQHSRUILQDOLGDGGHHQFDUJDUVHGHODVXSHUYLVLyQGHODVSROtWLFDVGH
FXPSOLPLHQWR GHO %DQFR DVt FRPR OD HYDOXDFLyQ GH OD HIHFWLYLGDG HQ OD JHVWLyQ GHO ULHVJR GH
FXPSOLPLHQWRFRQODSHULRGLFLGDGTXHVHxDOHVX5HJODPHQWR
3DUD ORV HIHFWRV ODV SROtWLFDV GH FXPSOLPLHQWR VRQ DTXHOODV UHODFLRQDGRV FRQ HO PRQLWRUHR GH OD
FRQGXFWDHQORVPHUFDGRVHOWUDWDPLHQWRGHFRQIOLFWRVGHLQWHUHVHVODSUHYHQFLyQGHOEODQTXHRGH
FDSLWDOHV\ILQDQFLDPLHQWRGHOWHUURULVPR\ODSURWHFFLyQGHGDWRVSHUVRQDOHV
(O &RPLWp GH &XPSOLPLHQWR HVWi LQWHJUDGR SRU WUHV 'LUHFWRUHV GHVLJQDGRV SRU HO 'LUHFWRULR GHO
%DQFR 6H UHXQLUi HQ IRUPD RUGLQDULD FDGD FXDWUR PHVHV \ WHQGUi LQIRUPDGR SHUPDQHQWHPHQWH DO
'LUHFWRULR DFHUFD GHO GHVDUUROOR GH ODV IXQFLRQHV GH VX FRPSHWHQFLD (O 3UHVLGHQWH GHO &RPLWp
LQIRUPDUiHQODVVHVLRQHVGH'LUHFWRULRORVDFXHUGRVTXHSXGLHVHQKDEHUVLGRDGRSWDGRV
$UWtFXOR)XQFLRQHV
6RQIXQFLRQHVGHO&RPLWpGH&XPSOLPLHQWRODVVLJXLHQWHV
D 9LJLODU HO IXQFLRQDPLHQWR GHO VLVWHPD FRUSRUDWLYR GH 3UHYHQFLyQ GH /DYDGR GH $FWLYRV \
)LQDQFLDPLHQWRGHO7HUURULVPR
E (YDOXDUODVPHGLGDVHVWDEOHFLGDVSDUDPLWLJDUHOULHVJRGHFXPSOLPLHQWR
F 0DQWHQHU LQIRUPDGR DO 'LUHFWRULR VREUH HO FXPSOLPLHQWR GH ODV SROtWLFDV \ SURFHGLPLHQWRV
LQWHUQRV \ VREUH GHWHFFLyQ GH GHELOLGDGHV GH FRQWURO \ DGPLQLVWUDFLyQ LQWHUQD DVt FRPR ODV
PHGLGDVFRUUHFWLYDVLPSOHPHQWDGDVHQIXQFLyQGHODVHYDOXDFLRQHVUHDOL]DGDVSRUODV8QLGDGHV
GH &XPSOLPLHQWR $XGLWRUtD ,QWHUQD ORV $XGLWRUHV ([WHUQRV \ OD 6XSHULQWHQGHQFLD GH %DQFD
6HJXURV\$)3
G 5HYLVDUHO&XPSOLPLHQWRGHO3URJUDPD$QXDOGH7UDEDMR
H $SUREDUHO(VWDWXWRGHODIXQFLyQGH&XPSOLPLHQWR
&$3Ë78/2,9
5HJODVFRPSOHPHQWDULDV
$UWtFXORÈPELWRGHDSOLFDFLyQ\YLJHQFLD
Aprobado en Directorio del 31.03.2014
/DVGLVSRVLFLRQHVFRQWHQLGDVHQHVWH5HJODPHQWRGHEHUiQVHUFXPSOLGDVSRUORVyUJDQRV6RFLDOHV\
SRU WDQWR SRU HO 'LUHFWRULR GHO %DQFR DVt FRPR SRU ORV GLVWLQWDV &RPLWpV GHO 'LUHFWRULR \ VXV
LQWHJUDQWHV
$UWtFXOR'LIXVLyQ
(O'LUHFWRULRGHO%DQFRDGRSWDUiODVPHGLGDVRSRUWXQDVSDUDTXHHO5HJODPHQWRSXHGDVHUFRQRFLGR
SRUORVDFFLRQLVWDV\HOS~EOLFRLQYHUVRUHQJHQHUDO
$UWtFXOR,QWHUSUHWDFLyQ
&RUUHVSRQGH DO 'LUHFWRULR GHO %DQFR LQWHUSUHWDU \ UHVROYHU ODV GXGDV TXH VXVFLWH OD DSOLFDFLyQ GH
HVWH 5HJODPHQWR GH FRQIRUPLGDG FRQ ORV FULWHULRV JHQHUDOHV GH LQWHUSUHWDFLyQ GH ODV QRUPDV
MXUtGLFDV
6H LQWHUSUHWDUi GH FRQIRUPLGDG FRQ ODV QRUPDV OHJDOHV \ HVWDWXWDULDV TXH VHDQ GH DSOLFDFLyQ \
WRPDQGR HQ FRQVLGHUDFLyQ ORV SULQFLSLRV \ UHFRPHQGDFLRQHV VREUH HO JRELHUQR FRUSRUDWLYR GH ODV
VRFLHGDGHVFRWL]DGDVQDFLRQDOHLQWHUQDFLRQDOPHQWH
$UWtFXOR0RGLILFDFLyQ
(O 5HJODPHQWR SRGUi PRGLILFDUVH PHGLDQWH DFXHUGR GHO 'LUHFWRULR GHO %DQFR FXDQGR FRQFXUUDQ
FLUFXQVWDQFLDVTXHORKDJDQFRQYHQLHQWHRQHFHVDULRSDUDHOLQWHUpVVRFLDOH[SUHViQGRVHODVFDXVDV
\HODOFDQFHGHODPRGLILFDFLyQTXHVHSURSRQJD
Aprobado en Directorio del 31.03.2014
$1(;2
*$67263259,$-(<9,$7,&26
(OSUHVHQWH$QH[RFRQWLHQHHOGHWDOOHGHORVJDVWRVSRUYLDMHV\YLiWLFRVTXHHO%DQFRDVXPLUiSRU
FDGDGLUHFWRUSDUDODVVHVLRQHVGH'LUHFWRULRFRUUHVSRQGLHQWHV
'LUHFWRULRVUHDOL]DGRVHQOD6HGH6RFLDO
3DUDORV'LUHFWRUHVQRUHVLGHQWHVHO%DQFRDVXPLUiORVJDVWRVGHORVYLDMHVHQORVTXHLQFXUUDQSDUD
DVLVWLUDODVVHVLRQHVGHGLUHFWRUHVTXHLQFOX\HORVFRQFHSWRVTXHVHGHWDOODQDFRQWLQXDFLyQ
D 3DVDMHHQ%XVLQHVVLGD\YXHOWD
E ,PSXHVWRVGHVDOLGD\HQWUDGD
F 'HVLJQDFLyQGHXQFKRIHUSHUVRQDOGHVGHODOOHJDGDDO$HURSXHUWR
G &HOXODUSHUVRQDO
H +RVSHGDMHHQXQKRWHOGH&DWHJRUtDHVWUHOODV\
I $OLPHQWDFLyQ'HVD\XQRDOPXHU]R\FHQD
(OWRWDOGHGtDVTXHHO%DQFRDVXPLUiSRUVHVLyQSDUDFDGD'LUHFWRUQRUHVLGHQWHVHUiGHGRV
QRFKHVSRUYLDMH
&XDOTXLHUH[FHSFLyQGHEHUiVHUFRRUGLQDGDSUHYLDPHQWHFRQOD6HFUHWDUtDGH'LUHFWRULR
'LUHFWRULRVUHDOL]DGRVIXHUDGHOD6HGH6RFLDO
/RV'LUHFWRULRVSXHGHQUHDOL]DUVHIXHUDGHODVHGHVRFLDOHQHOLQWHULRUGHOSDtVRHQHOH[WUDQMHUR
FRUUHVSRQGLpQGROHDO%DQFRDVXPLUORVPLVPRVJDVWRVHQORVPLVPRVWpUPLQRVDQWHVUHIHULGRVSDUD
FDGDGLUHFWRUTXHQRUHVLGDHQHOOXJDUGHODFHOHEUDFLyQ(QFDVRGHQRVHUSRVLEOHDVLJQDUXQFKRIHU
DORVGLUHFWRUHVVHDVXPLUiQJDVWRVSRUFRQFHSWRGHPRYLOLGDG
Descargar