The market regulator is preparing rules for a new type of short-term investment fund, which will be available before July.
The Superintendency of Securities (Sugeval) in Costa Rica announced that it will add to its portfolio an investment fund focused on very short term securities which are low risk and high liquidity, reported El financierocr.com. This new instrument will be approved in the first half of 2016.
The Superintendency of Securities could be adjusting the rules on issues such as brokerage fees for services or the requirement to present a risk rating to issue securities.
Presenting a risk rating for both private and state titles, the ability to raise fees paid by brokerage companies on the market, or the newly required ones aimed at meeting the requirements to combat money laundering could be some of the changes in the rules governing the stock market in Panama.
The Panamanian company whose emissions were suspended in September 2014, has amended the terms of its bonds for $8 million, extending the deadline to 2019 and agreeing to pay principal and interest in tracts.
From the resolution issued by the Superintendency of Securities:
The Panamanian Association of Business Executives is proposing regulating cooperatives, pawn shops and casinos, signing the memorandum of IOSCO, creating a new law on money laundering and strengthening the Financial Analysis Unit.
During the second business forum called 'gray lists: Check Mate for Panama?', the Panamanian Association of Business Executives unveiled their proposals, action lines and suggestions for improving the conditions of the country and getting off the "gray list" it has recently been included in.
The Ministry of Finance plans to issue before the end of the year the balance remaining on the $1,150 million in bonds approved by Congress in May.
Amid criticism from the opposition and the private sector over the continued increase in public debt, the government is preparing for the end of the year the issuance of $350 million, the remainder of the $110 million which was requested and approved by Congress in May.
The two nations have been included in the list of countries with deficiencies in the fight against money laundering and terrorist financing.
The Financial Action Group, assigned to the Organization for Economic Cooperation and Development noted that Panama and Nicaragua are in breach of the recommendations that the agency provides to improve controls for preventing money laundering in the financial system.
The main reference rate for loans and investments has gone up for the second week running, from 6.85% to 6.90%.
The Central Bank of Costa Rica has reported that the passive base rate, an indicator of the average interest rates giving by financial institutions for periods of 150 to 210 days, has gone up from 6.85% to 6.90% and will maintain this level for until at least 11 June.
In order for the Law on Secured Transactions to be put into effect in practice, the Secured Transactions Registry together with its regulations needs to be implemented.
The new Registry will be part of the National Registry Center (CNR), it will be public and will operate as an electronic platform, a system that facilitates the registration of garments and filling out forms so that secured debtors can have a personal account. There will be no need to enter financing contracts or security interest and it will be equipped with safety mechanisms that safeguard rights and the registry information entered.
Taking into account stable macro economic variables at the national and the global level, the Bank of Guatemala has decided not to change the policy leader rate, the main reference for interest rates in the country.
From a statement issued by the Bank of Guatemala (BANGUAT):
The reference rate for loans and investments in the country will stand at 6.85% until at least June 4.
The Central Bank of Costa Rica reported that the passive base rate, an indicator of the average rates given by financial institutions on savings for periods of between 150 to 210 days, has gone up up from 6.75% to 6.85% and will stay at this level at least until June 4.
In the first three months of the year $1.350 million worth of securities were traded, up from $1.057 million traded in the same period in 2013.
Increased purchases of securities in the first quarter of 2014 "were made by BG Valores ($230.09 million), Prival Securities ($228.88 million), Banco Nacional de Panama ($195.62 million), MMG Bank Corporation ($142 55 million) and Citivalores ($126.06 million) ... While those who presided over sales were Prival Securities, with $362.97 million; BG Valores, with $209.33 million; MMG Bank Corporation, with $200.52 million; and Citivalores, to $169.25 million ... "
The primary reference indicator for loans and investments in the country will stand at 6.75% at least until 28 May.
The Central Bank of Costa Rica reported that the passive base rate, an indicator of the average uptake rates given by financial institutions on maturities of 150-210 days will remain at 6.75% at least until 28 May.
At the end of 2013 the balance of these loans in the banking system exceeded $10 billion, representing growth of 30% in the last three years.
The increase in the real income of households, the Preferred Interest Act and the increased demand for housing in the medium / high cost category, have strengthened the portfolio of mortgage loans in the country, with the balance of this portfolio up to March this year standing at $10.296 billion, $9.041 billion for homeownership loans and $1.254 billion for commercial premises.
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