Argentina’s central bank issued Communication A6725 on June 28, 2019, updating current-account rules for electronically issued checks, known as ECHEQ. The changes put responsibilities around the security elements used to issue them: account holders must acknowledge those elements, commit to protecting them, and recognize checks issued through their use. The rule preserves grounds on which a bank may reject a check; it does not make every disputed instrument automatically payable. [shared-376756bcf618f161646a58d5c49e6a2da92ccdeb85f4f3320f9f15e58aa7ab0d]
People authorized to operate an account face the same acceptance formalities. This sets an accountability line for account holders who delegate check issuance, while making safekeeping of security elements part of the arrangement. Banks set a maximum aggregate amount for checkbooks or ECHEQ authorization based on customer requests and justified account activity. For ECHEQ, the bank must tell the issuer the total authorized and available amounts. [shared-376756bcf618f161646a58d5c49e6a2da92ccdeb85f4f3320f9f15e58aa7ab0d]
The framework gives customers an issuance ceiling and banks a basis for calibrating it to account use. Safekeeping of security elements remains part of the account holder’s undertaking, while the regulation preserves specified grounds for rejecting a check. The unresolved test is whether allocating responsibility makes electronic checks easier to manage without shifting too much risk onto people entrusted with those elements. [shared-376756bcf618f161646a58d5c49e6a2da92ccdeb85f4f3320f9f15e58aa7ab0d]