<SEC-DOCUMENT>0000950103-15-007971.txt : 20151110
<SEC-HEADER>0000950103-15-007971.hdr.sgml : 20151110
<ACCEPTANCE-DATETIME>20151005121652
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-15-007971
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20151005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BBVA BANCO FRANCES SA
		CENTRAL INDEX KEY:			0000913059
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		RECONQUISTA 199
		CITY:			1003 BUENOS AIRES AR
		STATE:			C1
		ZIP:			00000
		BUSINESS PHONE:		2127595576

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRENCH BANK OF THE RIO DE LA PLATA
		DATE OF NAME CHANGE:	19931005
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="image_001.jpg" ALT="BBVA_Frances_+[1]" STYLE="height: 54px; width: 241px"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">October 5, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>Re:</B></TD><TD><B>BBVA Banco Franc&eacute;s S.A.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.4pt"><B>Form 20-F for the fiscal year ended
December 31, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.4pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.4pt"><B>Filed April 10, 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.4pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.4pt"><B>File No. 001-12568</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">VIA EDGAR SUBMISSION AND FEDERAL EXPRESS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mrs. Suzanne Hayes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Assistant Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities &amp; Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.; mail stop 4561</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mrs. Suzanne Hayes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">Thank you for your
letter dated September 25, 2015, setting forth comments from staff of the Division of Corporation Finance (the &ldquo;Staff&rdquo;)
of the United States Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on the annual report on Form 20-F for the
year ended December 31, 2014 (the &ldquo;2014 Form 20-F&rdquo;) of BBVA Banco Franc&eacute;s S.A. (&ldquo;BBVA Franc&eacute;s&rdquo;,
also referred to in this letter as the &ldquo;company&rdquo;, the &ldquo;Bank&rdquo; or &ldquo;we&rdquo;), which was filed with
the Commission on April 10, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">To facilitate the
Staff&rsquo;s review, we have reproduced the captions and numbered the comments from the Staff&rsquo;s comment letter in boldface
text, which we set forth in Annex A hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">In providing these
responses, and in response to the Staff&rsquo;s request, we hereby acknowledge that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify">BBVA Franc&eacute;s is responsible for the adequacy and accuracy of the disclosure in its filings;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify">Staff comments or changes to disclosure in response to Staff comments in the filings reviewed by
the Staff do not foreclose the Commission from taking any action with respect to the filing; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify">BBVA Franc&eacute;s may not assert Staff comments as a defense in any proceeding initiated by the
Commission or any person under the federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">We would like to express
our appreciation for your attention in these matters, and we are available to discuss any of our responses with you at your convenience.
In that regard, please do not hesitate to contact Ignacio Sanz y Arcelus in Buenos Aires at 54-11-4348-0047 or fax: 54-11-4346-4354;
or our counsel, Michael J. Willisch of Davis Polk &amp; Wardwell at 34-91-768-9610 or fax: 34-768-9692.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>/s/ Ignacio Sanz y Arcelus</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Ignacio Sanz y Arcelus</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>BBVA Banco Franc&eacute;s S.A.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>
<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD STYLE="text-align: right; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Annex A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Form 20-F for Fiscal Year Ended December
31, 2014</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Significant changes in financial
condition, page 121</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Your disclosure in the first sentence under the heading indicates that Government and Private
Securities showed a significant increase between Fiscal 2014 and Fiscal 2013 &ldquo;due to the increase in instruments issued by
the BCRA because of the liquidity policy implemented by the Bank.&rdquo; With a view to disclosure in future filings, as applicable,
please provide us a response letter that explains how your current liquidity policy differs from your prior liquidity policy. In
light of your risk factor disclosures on pages 11 and 14, among others, also tell us whether there are material operating and liquidity
risks associated with your level of investment in Argentine Central Bank Internal Bills (LEBAC) in recent periods.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">The liquidity policy of the
Bank requires to keep a minimum percentage of the total deposits in liquid assets, among them and particularly, in Argentine Central
Bank Internal Bills (LEBAC). This policy has not changed since Fiscal 2013 to Fiscal 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">As mentioned in page 11 of the
2014 Form 20-F under <I>&ldquo;Risk Factors Related to BBVA Franc&eacute;s&#8213;The short term structure of the deposit base of
the Argentine financial system, including the Bank, could lead to a reduction in liquidity levels and limit the long-term expansion
of financial intermediation,&rdquo;</I> between 2011 and 2013 credit grew in Argentine at a higher rate than deposits. This scenario,
however, changed in 2014 when deposits started to grow at a faster rate than credit due to the increase in interest rates by Central
Bank in order to keep the local currency exchange rate in line after a significant devaluation of the peso on January 23, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">In line with the Bank&rsquo;s
policy stated above, the Bank invested the excess of cash resulting from the mismatch in the growth rate of credit and deposits
in short-term (five-month average life) local currency LEBAC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">LEBACs are instruments issued
by Argentine Central Bank since 2002, mainly nominated in local currency, as a monetary policy tool that allows the Argentine Central
Bank to regulate the amount of pesos in circulation in the economy. Financial institutions have been the main buyers of these bills,
currently holding approximately 80% of the total outstanding LEBACs. Financial institutions keep these instruments as an additional
liquidity buffer, in excess of the legal reserve requirements imposed by law. LEBACs are traded with a reasonable level of liquidity
in secondary markets and they are accepted by Central Bank in repurchase agreements (repos) up to a limit of 100% of the capital
of each entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify">We do not believe that there
are any material operating or liquidity related risks associated with our investments in LEBACs. Nevertheless, we take your suggestion
and in future filings, if applicable, we will provide more information regarding any substantial changes on the matters described
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD STYLE="text-align: right; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1"  V /$# 2(  A$! Q$!_\0
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ME.\;JQ8A#+"@D.7"@,?4]Z?117,;!1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 ?
"_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
