After Nicaragua Financia Capital S.A. declared that no funds were available to meet its obligations, the entity announced that it will propose to investors to renegotiate the terms.
On February 8, the Superintendence of Banks and Other Financial Institutions (Siboif) decided to revoke the authorization granted to Financia Capital, S.A. to make a public offering of fixed income securities.
Financial institutions operating in the Honduran market reported the issuance of $1.313 million in new loans during 2018, 21% more than the $1.081 million recorded in 2017.
The Varela administration rejects the European Commission's proposal to include the country in a list of high-risk countries with strategic deficiencies in the struggle against money laundering and terrorism.
Considering that the publication issued today by the European Commission must be submitted to the European Parliament for approval within one month, which may be extended, the Government of Panama announced that it will continue its efforts to establish a communication channel to clarify the Commission's concerns.
Because Financia Capital S.A. does not have the funds available to meet its obligations, it was revoked the authorization to make a public offering of fixed income securities.
The Superintendence of Banks and Other Financial Institutions (Siboif) informed that its authorization was revoked because "...
Limiting the fees charged in Costa Rica and establishing a law that defines market limits in Guatemala are part of the attempts being made in the region to regulate the use of credit cards.
A law proposal presented last January before the Legislative Assembly of Costa Rica, aims to regulate the percentage of the commission paid by businesses for credit or debit cards. According to the initiative, this task would be in charge of the Central Bank and the Commission to Promote Competition.
The Effective Rate in Dollars increased from 2.80% to 2.85%, while the Basic Passive Rate decreased from 6.25% to 6.15%.
The Central Bank of Costa Rica published the afternoon of Wednesday February 6 that after two weeks of rising, the Basic Passive Rate registered a negative variation and will remain at 6.15% until next February 13. [GRAFICA caption="Click to interact with graphic"]
At the end of 2018, credit granted to the business sector in Guatemala registered a 7% increase over December of the previous year.
Figures from the Superintendence of Banks specify that up to December 2018 the credit portfolio reached $23.064 million and investment in securities $11.324 million, which compared to 2017 is equivalent to 6.8% and 11.3% increases, respectively.
The volume of operations totaled $3.413 million during the fourth quarter of 2018 in Nicaragua, recording an increase of just 1% over the same period in 2017.
After the law seeking to regulate the credit card market in Guatemala was declared unconstitutional, a new proposal was presented.
The Credit Card Law that was declared unconstitutional at the beginning of 2019, entered into force on March 8, 2016, however, after the business chambers, card issuers and the Bank of Guatemala filed legal appeals before the Constitutional Court (CC), was suspended on March 31 of that year.
The Basic Passive Rate increased from 6.15% to 6.25%, while the Effective Rate in Dollars increased from 2.59% to 2.80%.
The Central Bank of Costa Rica published on January 30 that after recording a rise last week, the Basic Passive Rate increased 0.10%, and the level at which it will remain until next Wednesday, February 6 is 6.25%.
Up to November 2018, the gross portfolio of the financial system in Nicaragua totaled $4.716 million, 7% less than in the same month in 2017, partly because of the performance of commercial credit.
In 2018, the volume traded in the Panamanian Stock Exchange totaled $6.100 million, 15% more than the data reported in 2017, mainly because of the behavior of the primary market.
The increase in the volume traded in 2018 represents a recovery in the stock market, since in 2017 the stock market activity of the Panama Stock Exchange (BVP) reported a 28% decrease compared to 2016.
Consistent with the trend of recent months, mortgage and personal loans again represented most of the 5% increase in credit to the private sector up to November 2018.
According to the latest report of the Superintendence of Banks, in November last year the portfolio of loans granted to the private sector totaled $54.626 million, which is equivalent to an increase of 5.3% over the $51.873 million reported in November 2017.
The Panamanian Stock Exchange announced the implementation of its new electronic trading system, which operates with Nasdaq Matching Engine technology.
Directors of the institution informed that one of the main objectives of the transformation to its trading system is to position the Panama Stock Exchange (BVP) as the regional hub of the capital market.
In Costa Rica, in the first half of the month, the exchange rate of the dollar with respect to the colon recorded a downward trend, however, from January 16 to 24 it increased almost 9 colones per dollar.
After the average exchange rate against the dollar in the wholesale market fell from ¢610.7 to ¢600.3 between January 8 and January 16, Monex has registered continuous increases in the last few days, rising to ¢609 on January 24.
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O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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