The Venezuelan Banking Association (ABV) alerted the Central Bank of Venezuela (BCV) about the difficult liquidity situation facing the banking system and requested the revision of the legal reserve rate of 93% and other measures that alleviate the pressure expressed at rates above 1,500% in the…
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legal reserve
Economic contraction affects the banking sector
In the midst of the recession scenario in the world, financial activities have been impacted. In the case of Venezuela, construction (-96%), financial institutions (-88.5%) and commerce (-80.5%) have presented a deficit in their actions…
Interbank transfers could paralyze in Venezuela
In a letter addressed to the president of the Central Bank of Venezuela (CBV) Calixto Ortega, bankers explained that the legal reserve of 100% the marginal and 57% the ordinary -which has been in effect since February 11- drastically and…
BCV announces the application of a legal reserve
This Tuesday the Board of the Central Bank of Venezuela (BCV) announced new measures that would directly affect the country's exchange system.
It is about the application of a new legal reserve of two levels; an ordinary 57% and a marginal…