In the midst of the rise of the blue dollar and the fall in demand for pesos, the Central Bank of the Argentine Republic (BCRA) He assured this Monday that “The Argentine financial system presents a solid situation of solvency, capitalization, liquidity and provisioning”, and? complies with international standards that are audited by different multilateral organizations.
In this sense, he highlighted that the levels of support for credits and deposits operated in the banking system It is higher than the average of countries, both developed and emerging.
“The savings of Argentines deposited in the financial system are protected by deposit insurance and by the role of the Central Bank of the Argentine Republic, which acts as lender of last resort”the monetary organization stressed in a statement.
“The stability of the financial system is a public good that has been maintained under different Governments and its liquidity and solvency guarantee that it will be able to respond to eventual stress situations,” added the BCRA.
The monetary authority issued a statement titled “Argentina maintains a liquid and solvent financial system” with which he searched make clear the stability of the systemin the middle of the electoral campaign and facing the presidential election that will take place on October 22
In the midst of the exchange rate tension that is currently being experienced, something that is usually common in Argentina during electoral processes, The presidential candidate for La Libertad Avanza, Javier Milei, said this Monday that he would not recommend that a person who has a fixed term renew it. “Never in pesos. The peso is the currency issued by the Argentine politician, therefore it cannot even be worth excrement, because that garbage is not even useful for fertilizer,” said the national deputy in radio statements.
The Central Bank, in the press release, said that it seeks to maintain the purchasing power of savings through the remuneration of fixed terms, whose rate is defined monthly, or with fixed terms updated by inflation plus a remuneration of 1%.
Finally, the monetary authority recalled that the solvency of the financial system is internationally audited as part of the commitments assumed by the country within the framework of the different multilateral organizations.
“Among others, the system is subject to the Financial System Assessment Program (FSAP), the Review of Standards and Codes (ROSCs), the Regulatory Conformity Assessment Program (RCAP) and the Financial Stability Board (FSB)” , detailed the Central Bank.
Source: Ambito
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