Without reaching a consensus with the financial sector, the deputies said that the bill will set the maximum interest rate that can be charged on credit cards at 54%.
The agreement reached by the Honduran Association of Banking Institutions and the committee of deputies working on the bill was rejected by President Hernandez, and since then, the negotiation process has stalled.
The planned and gradual devaluation of the currency favors the competitiveness of the economy by providing certainty in commercial transactions.
Also the competitiveness of the economy benefits when a properly fixed exchange rate does not generate profits for one sector to the detriment of another. The government has programed an annual slip of 5% for 2014, 2015 and 2016 and a depreciation of 4.5% per year for 2017 and 2018, a measure which is supported by the banking sector.
In 2013 the credit portfolio of Honduran banks increased by 11% compared to the previous year.
In November 2013 the balance of the loan portfolio of Honduran private banks totaled $9,371 million, representing an increase of 11% compared to the same month in 2012.
The Ministry of Finance is negotiating with local financial institutions to place a sovereign bond maturing in three years.
The information was confirmed by officials from the Ministry of Finance during the signing of a trust between the Health Ministry and Banco de Occidente.
President Lobo intends to sell around 280 active mining concessions which are currently unused.
Elheraldo.hn reports: "The Law of Public Debt Restructuring deals with the sale or disposal of idle state assets, including projects in the area of natural resources, mining, energy and telecommunications."
A 100 basis point increase in the Monetary Policy Rate (MPR) decreed by the Central Bank of Honduras on 14 May, is the main reason behind this increase.
A new monetary policy prepared by the Central Bank of Honduras affects the competitiveness of the financial sector and credit availability.
Honduran banks reduced by $1,500 million the amount available for loans to the productive sector and may raise interest rates in light of provisions by the Central Bank of Honduras.
The Honduran Association of Banking Institutions is calling for a balance between regulation and promoting development, protesting against unrealistic regulations nationwide.
The Honduran bank said existing regulations are "very strict" and has called for a balance between regulation and promoting development, taking into account local characteristics reported Tiempo.hn.
The partnership between the Executive Directorate of Revenue and the company Equifax, will mean that tax defaulters will be included in the credit bureau’s information.
This agreement will allow access by the financial system (private banks, finance companies, and cooperatives), to taxpayer’s debt information held with the Treasury.
The Honduran bank has made a public offer of corporate bonds worth $35 million.
Journalist for El Heraldo, Wendy Mejia interviewed Roque Rivera, president of the bank about the release of corporate bonds on the Central American Stock Exchange.
The high reserve requirements and government regulation are preventing the growth of private sector credit.
While the coffers of the banks are filled with notes due to growth in deposits and liquidity in the economy, the country's productive sector can not find adequate financing to boost growth.
The new law will allow lenders to accept personal property as a guarantee for loans.
The head of the Honduran Association of Banking Institutions (AHIBA), María Lidia Solano, told Latribuna.hn that, "movable guarantees are an instrument that can be used to give small and medium sized producers access to credit".
The banking system of Honduras registered in January a liquidity of $952 million, $435 million more than that of July 2008.
According to the president of the Central Bank of Honduras, Edwin Araque, this is due to the policies of a gradual reduction in the banking adjustments and the measures to limit the credit for consumption and commerce and to promote the productive sectors.
With a total of 600,000 card holders, credit cards are one of the financial products that has experienced the most growth.
Heraldo.hn reports: "Maria Lidya Solano, executive director of the Honduran Association of Banking Institution (Ahiba), revealed yesterday that the balance of the personal banking portfolio - credit cards - totaled $1.1 billion (21.2 billion lempiras) on August 31, 2008.
The Honduras Association of Banking Institutions will try to decrease the risks and delays in the use of credit cards with a financial education campaign at the national level.
The program to be implemented includes several bases (education, public relations and advertising) that will be used to facilitate a culture of responsibility and to create awareness about the possible impact of the global financial crisis.
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