The Central Bank of Uruguay (BCU) recently issued a new Communication (2020/038) in connection with the Health Emergency declared by the Executive Branch on March 13, as a consequence of appearance of the coronavirus (COVID-19).
To guarantee proper functioning of financial services throughout Uruguay as an essential service for society, during the period of the Health Emergency financial institutions must maintain continuity of their services as follows:
- Banks must be open to the public for a minimum of four hours per day, in at least one-third of their offices in each of the Departments of Uruguay where they have a physical presence and must ensure operation of ATM networks.
- Financial institutions closing locations or reducing their hours open to the public must have due justification for doing so and appropriately inform clients as to alternative channels for provision of services.
- Institutions are urged to apply preventive measures to minimize risks to their employees and clients at locations open to the public, and to recommend that their clients use digital channels.
This publication contains information of general interest and does not and should not be construed as a legal opinion or advice on specific matters. If necessary, specific legal advice should be sought on matters of interest to you.