Superintendency increases to $ 500 000 the value to give counterguarantees

Through a circular letter, the Superintendency of Banks allows insurance companies to receive as counterguarantees from their customers, those of personal type (promissory notes or bills of exchange), provided that the insured amount does not exceed $ 500,000.

A few days ago it had set a lower limit: up to $ 50,000, which was viewed with concern by the construction sector, which contracts such insurances (bonds) when, for example, they are public works contractors.

Now the Superintendency requires them to be real guarantees (real estate, for example).

Source:http://expreso.ec/expreso/plantillas/nota.aspx?idart=8072251&idcat=38269&tipo=2

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