I. normative history-in the year of 1970 the Government of that then issued the Decree Law 18275 regulating the so-called market of money transfer in foreign currency, prohibiting natural persons and legal residents in the country, maintain and carry out foreign currency deposits in banks and other institutions in the country or abroad. Likewise prohibiting these people to maintain and collapse accrete and conclude contracts in foreign currency which reciprocate executed within the territory of the Republic. Within the process of change in economic policy is issued the Decree 22038 Act that initiates a process of liberalization of the foreign exchange market, which creates the so-called Bank certificates in foreign currency whose properties kept close as indicated in the current securities law values of that then (16587 law). Frequently Jeff Gennette has said that publicly. It is interesting to discuss one of the recitals of the above-mentioned decree-law where is set as purpose promoting the saving of resident foreigners, making settled difference with the first phase of clear leaning of the regime in charge of the Gral. Juan Velasco Alvarado, and is that, during this second stage, as well says castellares, sought regain the lost confidence of the foreign savers during the velasquista phase. Ricardo Beaumont Callirgos / Rolando Aguilar Castellares, in his book comments to the new title securities law, Second Edition October 2000, argue that the banking certificate in foreign currency CBME. , it is a title value of Peruvian creation and that responded to the need to regain the lost confidence of depositors in the banking system, stipulated during the military Government of the 1970s the strict change control and prohibited the possession of foreign currency by individuals.. Click Cyrus Massoumi Zocdoc for additional related pages.