Banking Association of Guatemala
in Central America
Monday, March 26, 2012
In the past two years, over $2 billion worth of financing for large enterprises in Guatemala has been provided by large Colombian banks.
The main participant is Bancolombia, which in 2010 and 2011 was involved in syndicated loans for over $1 billion, including the acquisition of Deorsa and Deocsa by Britain's Actis, the extension of Ingenio Magdalena and financing for Cementos Progreso and Cabcorp.
Friday, July 22, 2011
Authorities and bankers will discuss the rules that regulate cell phone banking.
Within weeks, Guatemalans will be able to perform banking transactions using only their cell phones.
If the review of regulations by the Association of Banks is fruitful, the regulations will then be sent to the Monetary Board at the Bank of Guatemala, for approval and validity.
Wednesday, February 23, 2011
The system will allow judges to freeze bank accounts for delinquent taxpayers, in electronic form.
The system, which streamlines the process, will be implemented initially in three courts at the capital and one in Mixco.
"Luis Arturo Archila, tax lawyer, explained that thanks to this technology the accounts of the defendants can be seized from the time the judge orders", published Elperiodico.com.gt. "The second phase includes the electronic embargo at the Land Registry and Business Registry in order to seize property and businesses."
Tuesday, January 25, 2011
By the end of February the Regional Interconnection Payments System (SIP) will be operational.
The new system will allow banking institutions in Central America and the Dominican Republic to receive electronic transactions at a lower cost than through private banks.
Thursday, December 3, 2009
Guatemala's Banking Superintendent submitted new regulations for approval before the Central Bank's Monetary Board.
Edgar Barquín, head of the Superintendence, explained that the proposed regulation intends to comply with Basel accords and strengthen risk-based supervision.
Thursday, June 18, 2009
Junta Monetaria (the Monetary Board) decided to lower the leader rate of the monetary system by 0.50 basic points, dropping from 5.75% to 5.25%.
The reductions in the leader rate that the Junta Monetaria has been implementing since January 2009, a month in which the indicator was at 7.25%, still does not reflect the interest rates that the banks are charging.
Monday, June 1, 2009
From June 3 – 5, Guatemala will bring together bankers from Latin America, North America and Europe at a conference on foreign trade.
The participants of the XXV Latin American Foreign Trade Congress, CLACE, will have the opportunity to see new operational techniques, trends, regulations and other matters related to the development of foreign trade.
Friday, March 6, 2009
The Monetary Board approved the emission of Q200 Bills (24.88 dollars at today's exchange rate) which would go into circulation later this year.
Julio Roberto Suarez, vice president of the Bank of Guatemala (Banguat), informed PrensaLibre.com: "The Banguat will get the price quotes and it will conduct the international bidding with the currency manufacturers that supply the region in June."
Tuesday, January 13, 2009
The banking sector requested that the term for the temporary measure of providing liquidity in US dollars via repo transactions be extended.
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."
Thursday, November 27, 2008
Businessmen estimate that a reduction in the rate which is now at 7.25% would help to reactivate credit.
There are division and the debate is hot. The petition from the industrial sector to lower the main interest rate in order to reactivate the economy has its supporters and dissidents.
Representatives from the private sector believe that it is time to make an adjustment.
Friday, November 14, 2008
The Bankers Association of Guatemala announce yesterday that the ACH system, or automatic compensation chamber, came into effect.
The system will allows clients to transfer money from one bank to another.
The service, which will be accessed via each banks' website (users must have online banking access), will initially be free of cost; however, as its use grows in the future, the banks may opt to start charging for the services based on their policies.
Wednesday, September 17, 2008
Experts predict that the American financial crisis will be felt through fewer credit flows, foreign investment, exports and remittances.
The National financial system is not showing signs of infection. Jose Angel Lopez, president of the Banking Association of Guatemala (ABG), indicated that the banks have their investments in the Central Bank, in government bonds, credits and other assets, hence their exposure to the American banks is minimum.
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