Costa Rica: Bank Capital Adequacy to be Published

Some entities said they would be willing to declare their individual data if the Sugef removes the restriction.

Friday, September 23, 2011

Since the weekly newspaper El Financiero filed a lawsuit pushing for banks to publish their capital adequacy indicators, the issue has been debated by the General Superintendency of Financial Institutions (Sugef) and the banking market.

Following this, a group of banks have said they would not object to disclosing the information, as long as the publications are endorsed by Sugef.

However, it is the very same regulations currently in force that are preventing publication of the data, as expressed by representatives of the Sugef.

Another important issue that should be taken into account if the data is revealed, is how it will be interpreted, bearing in mind that it could be open to misinterpretation if there is not a clear explanation of how the figures are calculated and what they mean to each individual bank.

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May 2013

Private banks operate with margins between interest rates which are considerably lower than state banks.

An article in points out that "the five banks with the lowest margins in the country are private ones, as is clear from a study by EF based on data reported to the Superintendent of Financial Institutions (Sugef) for December, 2012 ".

Financial Cooperatives in Costa Rica

October 2012

For the volume of assets and loan portfolios they manage, cooperatives together make up the fourth largest financial operator ivn the country.

In Costa Rica, the 30 cooperatives under the supervision of the Superintendent of Financial Institutions (Sugef) exceed in value the assets and loan portfolio of the "private bank BAC San José and are below the banks, Banco Nacional, Banco de Costa Rica and Banco Popular which are funded by public capital. "

The secret about the soundness of banks

September 2011

The financial soundness indicator of banks may no longer be kept secret if the Constitutional Court decides that it shouldn’t be.

An appeal filed by the weekly paper El Financiero could lead to a decision to make public the indicators of capital adequacy of banks in the country.

Costa Rica Changes Bank’s Capital Adequacy Rules

February 2010

Sugef will classify banking entities in three groups, based on their capital adequacy ratio.

According to the regulation proposed by the Sugef, the supervisor of the financial system, the first level will include entities with a ratio of 14% or more, the second will group entities with ratios between 12% and 14%, while the third will include those with a ratio between 10% and 12%.

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