The Government confirmed that the system will start with the Nacional, Popular and Credito Agricola de Cartago banks. The last of these three will administrate two of the main funds of the SBD.
These banks have already started the accreditation process with the Regulatory Council (SBD coordinator) and there are two more petitions in progress (from the Coocique and the Coopealianza cooperatives).
However, at this stage the banks have not yet defined the requirements that potential clients must meet in order to have access to the loans and the Regulatory Council does not know what interest rates it will charge.
The definition of the conditions and requirements for customers will be the responsibility of each entity, as determined in its policies and risk analysis.
The National Council of Financial System Supervision (CONASSIF) approved from Tuesday, 15 to 10 changes to the standard established by the Superintendent of Financial Institutions (SUGEF) under the Regulation for qualifying borrowers with resources granted by the Banking System Development Act 8634, which states: "It is the responsibility of the Board of Directors or equivalent governing body of each financial institution, to approve the policies, processes and controls which will be used to identify, measure and manage the risks associated with credit operations, and resources granted by the Banking System Development Act 8634 ".
The reform proposal submitted by the Government does not have the full backing of the Legislative Assembly.
The way that resources obtained from the banking system are to be used is the main point that could further delay the implementation of the system of development banking (SBD in Spanish), which aims to provide financing to small and medium enterprises who do not have access today to traditional bank loans.
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