El Salvador: SSF Insists that Banking System is Sound

©image: ssf.gob.sv

The Superintendent of the Financial System, Luis Armando Montenegro, told Laprensagrafica.com that the Salvadoran banking system is solid, "so at this time it is not necessary to perform stress tests, such as those conducted recently by the FED in the United States..."

Additionally, the official indicated that the level of bank capitalization in El Salvador is more than the 8% required by Basilea. "Most banks are above 12%. We could not conduct a test of this nature at this time," Montenegro told the medium.

Source: laprensagrafica.com

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