Costa Rica's state-owned banks raise rates for creditsWednesday, May 14, 2008 State-owned banks in Costa Rica raised lending rates in colons by 1-1.5 percentage points in the last week of April and by half a percentage point for credits in dollars, according to central bank statistics. Private-sector banks, meanwhile, have kept their lending rates steady. Costa Rica: Monex Fee WaivedThursday, September 10, 2009 Starting October 5, the entrance fee for the wholesale currency market Monex will be waived. The market, operated by the Central Bank of Costa Rica, currently has an entrance fee of $427 (¢250.000), both for companies and individuals. Growing Demand for Fixed Rate Loans in Costa RicaFriday, May 27, 2011 Interest rates fixed for 20 years being offered by banks are increasing the demand for mortgages. Four banks are currently promoting mortgage loans with fixed interest rates. Costa Rica: Learning About Finances OnlineMonday, May 30, 2011 In Costa Rica, institutions are promoting banking and financial education to increase use of services. Buying and selling shares in the markets and learning about what goes on in a bank are some of the activities that can be done online thanks to the efforts of organizations like the National Stock Exchange and the Superintendency of Securities. Losses of Over $140 million Due to Appreciation of ColonThursday, March 21, 2013 The Chamber of Exporters of Costa Rica has detailed the losses by the sector caused by the significant appreciation of the colon in the last three years. As explained by CADEXCO, producers of meat, sugar and coffee suffered more than 70,000 million colones in losses, while for the banana industry is it calculated at $0.80 per box exported. Banks operating as usual in Costa Rica after earthquakeFriday, January 9, 2009 Yesterday's earthquake force the temporary closing of some branches and caused a slight delay in clearing checks. Securitizations Grow in Costa RicaThursday, April 30, 2009 The demand increases while $200 million in emissions are expected over the next 12 months. The prices of these instruments have risen in recent weeks, increasing their demand due to the low interest rates for investing in dollars. Costly Superintendencies in Costa RicaTuesday, October 23, 2012 The operations of the supervisory agencies for financial institutions, pensions companies, the stock market, and insurance market, has an annual cost of $48 million. The government of Costa Rica is trying to organize it so that the institutions regulated by these superintendents, assume a greater share of these costs, 80% of which so far are paid by the Central Bank. Exchange Rate Rises in Costa RicaThursday, September 1, 2011 The price of the dollar against the Colon has again started to fluctuate, after having spent several weeks at a relatively stagnant level. In the last two weeks there has been a slight rise, of about six colones, at the banks exchange desks. Who is to blame for the non-existence of a stock market?Monday, February 16, 2009 An analysis suggests that the lack of a stock market is not the fault of businesses or investors, but of the system. In his blog in Elfinancierocr.com, Allan Rodriguez, Founding Member and General Manager of Group CFS, analyzes in two successive posts how much costs are implied by the productive economy not having a stock market from which to obtain financing as several causes of the problem. Costs of Financial SupervisionTuesday, April 24, 2012 The government of Costa Rica is promoting a legal reform that would transfer the cost of financial supervision to banking institutions, insurance companies and pension operators. The legal amendment was included in the Bill for the Efficient Management of Public Finances already sent to the Legislature. Factoring in Costa Rica Growing and GrowingFriday, July 20, 2012 Getting cash by discounting accounts receivable is a form of credit which has increased by 160% in the past two years. In April 2011 the 18 companies grouped under the Costa Rican Chamber of Factoring Companies managed a portfolio of $177 million, which is double the amount recorded in 2009. In June 2012, the business of factoring in Costa Rica amounted to about $220 million. Trusts Still Stuck in Costa RicaFriday, January 28, 2011 The new regulations for the operation of public work trusts contains provisions which make the process too cumbersome. Meanwhile, only in Banco Nacional (BN) and Costa Rica (BCR), projects which are held up due to approval for funding through trusts reaches $ 2,760 million. The projects being held up are construction of public works. Costa Rica: Banco Popular Assumes Coopemex LiabilitiesTuesday, June 1, 2010 Bank “Banco Popular” will buy 100% of the liabilities of intervened financial cooperative Coopemex, and will put in place a trust to manage its assets. The announcement was made by Gerardo Porras, General Manager at Banco Popular. He noted that the operation should be completed no later than June 10. BICSA launches $50 million debt issueMonday, June 16, 2008 The International Bank of Costa Rica (Banco Internacional de Costa Rica) has launched a debt issue in Panama with a maturity of three to five years. With capital payments on maturity and quarterly interest payments the issue will be for 50 million dollars in series. |
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