The Banking Association has confirmed that the entities will not provide the Superintendent of Financial System with information requested from them on the 100 largest depositors of each entity.
Armando Arias, president of the Salvadoran Banking Association, said in an article on Elsalvador.com that "... they will respect the secrecy provisions of the Law on Banks and will not give to the Superintendency of the Financial System (SSF) confidential information on depositors, as this entity has requested."
On average financial institutions pay fees of 6.6% per annum for deposits in colones in the national financial system.
Although in the financial system, cooperatives offer better returns for deposits than banks, overall rates of these instruments have shown a downward trend in recent years, going from in some cases, as cited by the economist Rudolf Lucke on Nacion.com, "... a rate of up to 15% to current rates of around 6%."
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. "
In a year savings in the banking system both in local and foreign currency increased from $3.5 billion to $4.2 billion.
The economic dynamism has increased the savings capacity of Nicaraguans, which is reflected in the figures for savings and fixed term deposits in the domestic financial system.
From a Monetary and Financial report by the Central Bank of Nicaragua:
Between March last year and the same month in 2014, total deposits in the domestic financial system went from $3.431 billion to $4.185 billion.
More deposits by households, businesses and government boosted growth of deposits by 2.3 % in March compared to the previous month. The dynamism was recorded in overnight deposits, which grew 35.5 %, while fixed term deposits and savings deposits grew 20.5 % and 5.8 % , respectively, according to the Monetary and Financial Code and the Central Bank of Nicaragua (BCN).
Interest rates on fixed term deposits in the Central Direct electronic platform increased between 0.2 and 0.4 percentage points.
The Increases vary depending on the term of each investment, but the largest increase was for periods ranging from 2 days to 179 days.
"The increase in rates ranging from 0.2 to 0.4 percentage points. For example, for those of one day, the increase was 0.38 percentage points, going from the rate of 2.85% to 3.23%. "
Economic growth and low interest rates in the United States explain the increase between 2011 and 2013.
With an average annual growth of 8% in the past five years, according to data from the Superintendency of banks of Panama (SBP), bank deposits were $59.626,93 million in February of 2014 $39.919,66 million in February 2009.
The Economist Raúl Moreira, explained to Capital.com.pa that "the performance of deposits is due to the pace of the economic growth of the country, which has been increasing in a significant way because there is a lot of investment - both domestic and foreign - and that is reflected in some way in the pace of expansion of the banking sector and is an example of Panama's economic and financial health."
The total amount of stock transactions increased by 33.6% in 2012 compared to the previous year.
Elperiodico.com.gt reports that "According to Paulo de León, consultant at the Central American Business Intelligence (CABI), the volume of transactions is reaching a significant amount, and is evidence of a recovery after several very difficult years. '
Amid the global financial turmoil it seems that the only safe haven are fixed term deposits... that is until we recover our cash and try to use it ...
What matters is not how many dollars you have in your bank account, but what products and services can be purchased with them.
In an article in Prensa.com, Joey Levy discusses the illusion of security of fixed term savings, citing an $10,000 investment giving 6% from 2002 to the present.
Costa Rican credit unions pay up to 4.25% more than banks on term deposits in local currency.
After two years of low rates, return on certificates of term deposits (CDP in Spanish) is rising and the best deals are with savings and credit unions (CAC in Spanish), which exceed those of the banks by 4.25 percentage points.
"Coopealianza, Coopeservidores and Coopenae offered rates of 10.00%, 10.75% and 9.75% respectively for six-month deposits in colones. In addition, CDP investments with cooperatives are exempt from income tax, which increases their attractiveness, " reported Elfinacierocr.com. "The CAC compete with the banking system which, because of its condition, can fund itself with current accounts at a very low cost, which requires unions to have a more aggressive pricing strategy in order to raise funds and continue to grow."
In Costa Rica, investments in local currency (colones) of up to six months can be found with rates ranging from 6.3% to 10.5%, where the minimum is between 25,000 to 1 million colones ($ 50 - $2,000)
In Costa Rica there is a wide range of investment options for 6 months terms.
Digital titles, capitalized interest and diversity of issuers are some of the characteristics of the term certificates market in the country.
The Administrative Tribunal of Costa Rica has rejected a suit by the National Stock Exchange (BNV in Spanish).
Since the Costa Rican Central Bank (BCCR) created a market for liquidity (MIL) in 2009 to negotiate short-term operations, the interbank market (MIB) operated by the National Stock Exchange for the same purpose, has been affected, as the BCCR’s intention is that all transactions be done on its system, so that there will be better control of financial system liquidity, and hence inflation.
An analysis of the different options available for investors in the Guatemalan financial market.
As it is usual in Latin America, the most sought securities by Guatemalan investors are government issued ones, specially for their low credit risk. These bonds are used by the government to finance its budget.
Leonel Díaz Zeceña reviews investment possibilities in a Prensalibre.com article, stating that "The average interest rate paid by banks is 4.63%, whilst 15.72% is charged on average for loans."
In the last twelve months, fixed-term deposits and savings accounts have shown an increase of 16.1%.
According to data from the Bank of Guatemala, up to and including May 14, there were $5.62 billion (Q45.548.billion) in fixed-term, regular and special savings account deposits.
Leonel Díaz reported statements by Édgar Barquín, Bank Superintendent, in his article in Prensalibre.com: "We that there has been an increase in saving and fixed-term deposits and also financial bond transfers to deposits within financial institutions."
The stock market in Panama is the source of fresh funds while the rest of the financial system keeps funds restricted.
Issuances recorded by the National Securities Commission (CONAVAL) during the first quarter of 2009 totaled $305 million, while those in process total $447 million.
Even banks are trying to capture the public's money in this manner.