Guatemalan Banks brace for crisis
According to Banguat, the banking system has $614.5 million (Q4,747.6 million) in available liquid assets.
Thursday, November 20, 2008
"We have insisted that the banks have enough liquidity to meet commitments; that is, they have extra reserves and liquid assets, but in the current situation, they can, as some global banks have done, maintain higher levels as a precautionary measure," the president of Banquat, Maria Antonieta de Bonilla, said.
In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.
Banks in El Salvador will receive $290 million that where frozen as a liquidity reserve.
With the backing of the Financial System Superintendent, the Central Reserve Bank began to release half of the additional reserve of $290 million.
Funds in the banking system have increased by 10.34% so far this year.
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