Costa Rica: SUGEF directive postponed

The measure which was proposed for January 2009 forces banks, financial cooperatives and credit unions to save 15% of their earnings as as protection against risk.

Friday, September 12, 2008


The president of the Central Bank, Francisco de Paula Gutiérrez, explained yesterday that the decision is because national financial market conditions have changed.

More on this topic

Currency Risk in Costa Rica

June 2016

New regulations are being prepared for measuring currency risk for banks, whose loan portfolio in dollars grew by almost 13% in one year, while 78% of those who borrow in dollars receive their income in local currency.

Figures from the General Superintendent of Financial Institutions (SUGEF) indicate that 41% of the principal balance of outstanding loans is denominated in foreign currency and the rest in colones. Added to this it is the fact that 78% of borrowers of these loans in dollars earn their money in colones.

Financial Cooperatives in Costa Rica

October 2012

For the volume of assets and loan portfolios they manage, cooperatives together make up the fourth largest financial operator ivn the country.

In Costa Rica, the 30 cooperatives under the supervision of the Superintendent of Financial Institutions (Sugef) exceed in value the assets and loan portfolio of the "private bank BAC San José and are below the banks, Banco Nacional, Banco de Costa Rica and Banco Popular which are funded by public capital. "

Tight Credit May Result In Massive Layoffs

October 2008

The business sector is warning that the Costa Rica could enter a crisis of massive layoffs if they cannot finance their activities.

The warning is based on the scarcity of credit both from the public and private banks, which is causing many companies not to have sufficient financial resources to continue operations or expand.

Costa Rica: Deterioration in Quality of Loan Portfolios

June 2015

Since mid-2014 credit unions and mutuals have had to increase their reserves due to an increase in expected losses by banks.

The need to increase reserves due to increased losses expected to be suffered by institutions for non-payment of their debts is mainly due to a greater number of "bad debtors" according to an article on

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

Partner needed for financing/construction in Punta Leona, CR

I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction.
Wanted partner for financing and/ or construction in the...

Stock Indexes

(Mar 28)
Dow Jones
S&P 500


(Mar 28)
Brent Crude Oil
Coffee "C"