Costa Rica Extends Measures for Banking Liquidity
In response to the local and global economic crisis, the liquidity measures taken in October 2008 were extended by nine months.
Friday, March 13, 2009
In October 2008, the National Council of Financial System Supervision (CONASSIF) decided to relax some of the risk indicators required of financial institutions to strengthen their liquidity.
The objective of the Superintendence of Financial Entities is to strengthen bank liquidity in order to prevent being affected by the global crisis.
The business sector is warning that the Costa Rica could enter a crisis of massive layoffs if they cannot finance their activities.
Better risk management will be required of banks and greater analysis of the capacity to pay by debtors who have exposure to exchange rate risk.
Monetary authorities are pushing more actions to provide liquidity to the banking system.
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