Subordinated Debt Law in Costa Rica

The Legislative Assembly of Costa Rica approved a new law which allows banks to issue bonds or subordinated bonds.

Tuesday, December 14, 2010

This type of security, with a higher risk than traditional debt issues, pays last in case the company goes bankrupt.

Private banks were already allowed to issue such bonds, the new law now authorizes the state to do so.

More on this topic

A Securities Law for Guatemala

February 2014

A bill prepared by the Bank of Guatemala aims to stimulate the domestic market and strengthen it as a regional financial center.

The proposal is to dematerialize securities through book entries and stock market operations which are totally electronic.

"...The proposal assigns responsibility of Supervision to the Superintendency of Banks (SIB), in conjunction with the Monetary Board."

Nicaragua Approves Trust Law

November 2010

The new law will regulate Trusts, which did not exist before in Nicaragua.

According to Walmaro Gutierrez, head of the Parliament´s Economic Affairs Committee, the Trust will boost the construction sector and provide wealth management and an investment pipeline, among other things.

El Salvador Passes Credit Card Law

November 2009

Among the new regulations, fees for late payments cannot be higher than $25.

This law has been discussed by the Legislative Assembly for 7 years. It forces issuers to send statements to their customers with 15 days of anticipation, but refrains from set maximum interest rates.

Private Banking to Pay for Deposit Insurance

June 2009

Private banks in Costa Rica will start a deposit insurance fund, according to the volume of captured money.

The Central Bank of Costa Rica is developing a bill that it aims to send to the Assembly before 2010 to establish a deposit insurance fund, which will pay customers part of their deposits in case the bank goes under.

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