The Monetary Board issued a resolution that will allow the commercial banks to obtain capital by placing preferred shares in dollars on the market. According to the information obtained by Hoy, the banks can use this new instrument at a time when the authorities are calling for stronger positions in their patrimony. Common stock had been previously authorized by the board. These new shares will earn interest if the issuing bank earns money. At the end of five years, the stock will be converted into common stock in pesos. The main benefit of the new stock is that it will protect dollar investments for five years, and, since they are part of the primary capital of the bank, they will be under the supervision of the monetary authorities. Two thirds of the shareholders must approve the issuance of the preferred stock before a bank may proceed. In no case can the preferred stock be greater than the common stock.