Ecuador: Banking authority believes 2,000 million in “banco colchón”

Posted on August 2, 2012 • Filed under: Business, Economy, Ecuador reported the Banking Board and the Central Bank determined that financial institutions allocate greater resources to fund liquidity ‘mattresses’. With this, the regulatory bodies expect to increase foreign currency for about USD 2 000 million, to prevent ‘shocks’ in possible cases of bank runs and banking crises. Read Article
NOTE: banco colchón is an Ecuadorian term referring to one keeping their funds hidden in a mattress.

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