Posted On 21 Jul 2015
Until June this year, total deposits for cash position -mandatory funds in a state bank´s reserve account to ensure the resources of the citizenship- reached 6,181 million dollars, according to the Central Bank.
In the same month of 2014 the fund was around 11.269 million dollars. The comparison shows that this year the biggest drop of cash position is recorded.
The Association of Private Banks said it earlier this year, that a reduction of deposits would have an effect on all operations of the private financial system.
The latest report from the Association shows that the reserve account is not the only account category that descends. In June, assets had a shrinkage of 0.54% compared to May. Liabilities recorded a decrease of 0.68%.
The report, which contains data from the Superintendency of Banks and Insurance, shows in addition that deposits have another slowdown. In December 2014, deposits totaled 25.968 million dollars. Five months later, in May, the value fell to 24.171 million dollars. By June, the figure did not exceed 23.779 million.
The Superintendent of Banks Christian Cruz explained that the financial system is sound and solvent. As an example, he published on social networks the 32.136 million dollars held by banks as assets.