Financial Sector: Preference for Liquidity IncreasesPreventive reasons for unforeseen expenses in the context of the pandemic and low liable interest rates are some of the factors that explain the increase in the balance of short-term savings instruments in the Costa Rican market.Wednesday, July 8, 2020
In the context of the spread of covid-19 and the restriction of several productive activities, the broad money supply (including cash held by the public and highly liquid financial instruments in national and foreign currency) showed a 35.7% year-on-year growth rate in June 2020, considerably higher than the 2.7% recorded in the same month in 2019, while the balance of term instruments fell, reported the Central Bank of Costa Rica (BCCR). Source: Nacion.com Financial System: Warning by BillOctober 2020 In the Honduran Congress there is a bill that seeks to prohibit banks and finance companies from capitalizing interest on payments not made from March 2020 to December 2021, a measure that worries the sector. El Salvador: Loan Portfolio DownwardsAugust 2020 Given the outbreak of covid-19 and the imposition of restrictions on economic activity, between February and June of this year the amount of loans granted by the banking sector reported a 1.2% drop. Financial Sector Forced to InnovateJuly 2020 The current business scenario ended up breaking down several barriers, and now there are more customers who demand the online services of financial institutions, which are challenged to facilitate digital processes and in turn apply strict security standards. Honduras: Rise in Savings During ConfinementJune 2020 In the scenario of the health crisis and the decreed quarantine, it is reported that as of April, the balance of savings deposits of individuals amounted to $5,283 million, 15% more than the same month in 2019.
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