Oil crisis influences the increase of the interest rate to 17.3%

The impact of the 7,000 million less in the economy by the fall in oil prices would affect the financial sector. Authorities do not rule out a further increase in interest rates for consumer loans if the macroeconomic scenario does not change. In late October the Board of...

Rising prices to 17 financial services

  The implementation of charging $1.66 for the issuance of the banks statements is one of the 17 new changes in the category “Services with maximum charges” established by resolution of the Board Policies and Monetary Regulation. Rates that were not previously...

Pacifico and Pichincha banks join state strategy for controlling the financial system in the country

Pacifico and Pichincha banks are part of a strategic alliance with the General Attorney whose purpose is to prevent the entry of money from illicit transactions (money laundering or legitimization of illegal capital) to the national financial system. Experts from both...

The private financial system is healthy according to the president of the Association of Private Banks

During the congress “Dollarization, 15 years later, a comprehensive vision,” organized since 19 to 22 January by the Espiritu Santo University (UEES for its Spanish acronym), the President of the Association of Private Banks César Robalino analyzed the evolution of...

0.5% tax will be registered in billing statements

The charge of 0.5% on purchases paid by credit card will be appreciated in a subsequent statement to the purchase. The tax went into effect on October 28, which is applied to loans made ​​in financial institutions controlled by the Superintendency of Banks, including credit card...
Posted On 31 Oct 2014

Banks shall be sanctioned for clients discrimination

Four penalties may face the banking establishments of the private financial system that denies credits to persons who fulfill all the requirements. The most serious is the closure of the institution. This case is applicable, according to the authorities of the Superintendence of...

Purchase of Argentina debt becomes difficult for banks

International banks are having difficulty to reach a deal to buy part of Argentina’s sovereign debt that is held by hedge funds, which sued the country. Citi, Deutsche Bank, HSBC and JP Morgan are talking with the funds to help Argentina coming out soon from its second...