Argentina’s new plan to skirt U.S. The government has sent a bill to Congress that would replace its New York intermediary bank with state-run Banco Nacion, the latest move in a years-old legal chess game between Argentina and its “holdout” creditors who refused to participate in the restructuring. Argentina’s black market peso reeled on the news, falling 2.0 percent to an all-time low 13.5 to the U.S.