Subordinated Debt Law in Costa Rica
The Legislative Assembly of Costa Rica approved a new law which allows banks to issue bonds or subordinated bonds.
Tuesday, December 14, 2010
This type of security, with a higher risk than traditional debt issues, pays last in case the company goes bankrupt.
Among the new regulations, fees for late payments cannot be higher than $25.
The new law will regulate Trusts, which did not exist before in Nicaragua.
Private banks in Costa Rica will start a deposit insurance fund, according to the volume of captured money.
A bill prepared by the Bank of Guatemala aims to stimulate the domestic market and strengthen it as a regional financial center.
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