6.6 C
Sunday, April 2, 2023

Debt: public and private banks anticipated that they would enter into the exchange of their holdings

Must read

- Advertisement -

“The representatives of different public and private entities in Argentina associated with ABAPPRA promised to accompany the exchange, according to the eligible instruments included in the operation,” the entity said in a press release.

- Advertisement -


Debt: public and private banks join the swap

The decision was informed in the aforementioned letter after a meeting held by the leadership of ABAPPRA with the Secretary of Finance, Eduardo Settiin which details of the barter were exposed.

The association highlighted that the swap, “without generating an increase in public debt, allows the yield curve of local assets to be normalized, the maturity schedule improved and its fiscal impact optimized.”

- Advertisement -

ABAPPRA also supported the “liquidity option” offered by the Central Bank for the new titles since “it will avoid possible mismatches between the maturity terms of the deposits and the new instruments.”

The ABAPPRA delegation was headed by its president, Silvina Batakis, who was accompanied by executives from BAPRO, Banco Ciudad, Banco de Corrientes SA, Nuevo Banco de Chaco SA, Banco Provincia del Neuquén SA, Banco de la Provincia de Córdoba SA, Banco del Chubut SA, BICE, Banco Municipal de Rosario, Banco Credicoop Cooperativo limitada, Banco Provincia de Tierra del Fuego and Banco de Formosa.

Also present were representatives of the Guarantee Fund of Buenos Aires (FOGABA) of GARANTIZAR, Mutual Guarantee Society and FONRED (Public Guarantee Funds of Argentina).

Both the Association of Banks (ABA) and the Association of Argentine Banks (ADEBA) had already expressed their support for the operation, although in these cases without mentioning the percentage that they would commit.

Source: Ambito

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest article