Guatemalan banks request extension of money table

©image: Ernesto Andrade

Sigloxxi.com reports that "Jose Angel Lopez Camposeco, president of the Banking Association of Guatemala (ABG) and the Rural Development Bank (Banrural), commented that the measure worked, "because it is an instrument which gave signals that in case of any need for or suspension of credit, we have resources available."

Source: sigloxxi.com

More on this topic

$290 million for Guatemalan banks

January 2009

The Monetary Board extended the term of the money table for domestic banks up to May 31.

Prensalibre.com reports: "The measure allows banks to get funds via repurchase agreements that were authorized on 1 November 2008 and which would have expired on 31 January 2009.

The option of opening a window to provide liquidity in dollars came from the decision of the correspondent banks to cut or reduce lines of credit to local banks."

Monetary Policy in Guatemala: History of a grave mistake

September 2008

The world is head in one direction, Guatemala in the next. While Guatemala is destroying its business capacity by restricting the means of payment, the rest of the work is doing the opposite.

Before 1871 the Guatemalan economy was expressed in terms of the bills and coins in circulation plus money in the bank.

Guatemalan Government injects $275 million.

November 2008

The Monetary Board in charge of directing macroeconomic policies of the country opened a special account in US dollars and placed it at the disposal of the private banks to help them acquire liquidity.

Maria Antonieta Bonilla explained that the account would come into effect as of 31st Jan, 09 with the objective of giving liquidity to banks in the system that have had some difficulties.

$450 million for Guatemala banks

November 2008

Monetary authorities are pushing more actions to provide liquidity to the banking system.

A total of $450 million (Q3,460 million) will flow into the economy during the next few days, as result of the explication of measures to provide the banking system with liquidity.