The process of selecting trustees for the construction and operation of a major road work is running out of participants.
In February, when the law enabled the use of a trust to finance and build the road from San Ramon to San Jose, seven banks expressed interest in participating in the process, but now, following Banco Nacional´s decision to withdraw a few months ago, two other private banks have also decided to step aside.
The new Central Bank methodology which establishes preferential rates for large public sector deposits could influence other rates in the financial system.
The new methodology implemented by the Central Bank of Costa Rica aims to set benchmarks for public banks to provide preferential rates to state entities, but which "... at the same time, do not have excessive returns so that the market does not feel pressure to up rates. "
Yields on long-term bonds in colones today showed a strong rebound, reflecting expectations of higher interest rates.
Long term debt securities in colones traded in the secondary market had a significant rebound today, an adjustment which, according to the same market, was expected due to the lower U.S. dollar liquidity and the increase in rates in that currency.
The laws in Costa Rica have forced companies providing data on natural persons and legal entities to plan new strategies.
Elfinancierocr.com reports that "the actions have occurred in response to the fact that on March 5 the deadline was reached for the reorganization of their operations to comply with the provisions of the Law on Protection of the individual against the processing of their personal data (Act 8968) ".
Commercial banks are beginning to consider the possibility that interest rates will follow the downward trend begun in October 2012, and will be overtaken by inflation.
"The current levels of liquidity (amount of money) you see in the market is causing the costs for use of money to be reduced . (...) Furthermore, for now, there isn't an aggressive retreat in liquidity in the economy which suggests that the trend could be maintained," said Vidal Villalobos, an analyst in the Portfolio Advisory Group at Scotiabank.
At the Banco de Costa Rica the volume of assets received in lie of payment increased by 70% compared to 2011.
A survey by Elfinancierocr.com between 6 financial institutions, including the four public banks in the country, revealed that in February of this year, there were 1259 properties in their possession, in contrast to the 884 properties that were reported in the same period 2012, ie there was a 42% increase.
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...
Pentágono is the leading Factoring company in El Salvador, with 20 years of succesful background.
Eficient, fast, reliable and personalized service.
Operates in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama
Phone: (503) 2264 3363