Financial Safety Advice

* Banks
* Non-bank credit institutions, financial companies, Savings and home loan, credit unions
* Insurance and Reinsurance Companies
* Stock Market
* Private pension funds
* Financial Groups
* Business related financial services, factoring, general stores, warehousing, leasing, credit bureaus
* Payment Systems
* Deposit Insurance
* Financial Safety Net
* Financial Crimes
* Money Laundering

The preparation of financial legislation has included the drafting of bills for central banks, national committees and superintendents, and laws to establish the main rules of the game for the actions of the various actors in financial markets, in terms of capital entry, limits to major risk operations and sanctioning system, thus seeking the necessary legal stability of the market, leaving the monetary authorities, banking, insurance, securities and pensions, the legislative discretion to establish mechanisms aimed to achieve a true, complete and timely information on public transparency, monitoring compliance with limits on risk operations and managing the sanctions regime. We have participated in these activities in Bolivia, Costa Rica, Chile, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Tanzania and Uganda. Read the rest of this entry →

Financial products such as “passive” are those that allow the holder to deposit money in institutions such as banks, banks and credit unions, having these should return the money under the conditions stipulated by the contract. Within these financial products such as “passive” There are three types, the most common: current accounts, also called demand deposits, savings accounts and term deposits. Each of these types of accounts has certain characteristics that make their specificity and are not detailed by law, as defined by the practice of everyday activity. Here, then, what are some of the characteristics of these types of accounts passive.

First, the deposits are defined by the ability of the incumbent has to make money income and the obligation of handing the bank at any time that the holder has. These types of accounts usually have some form of remuneration, but not always, but is less than that of other types. Current accounts are accounts also have what is called a “service box” asset and that helps the operator can use it to make and receive payments in an active form. For example, to make check deposits, household bills, pay checks, cash withdrawals, and others. These operations usually involve some kind of commission. Read the rest of this entry →

At a general level one can distinguish between insurers (that we will discuss in another article) and banks.

In Spain there are four general types of banks:

Private institutions banks are usually publicly traded company, and is used mainly to mortgages and accepting deposits.

Savings. Are virtually identical to the banks except two characteristics:

1. Are public institutions owned by one or more government (municipality, region, county council, etc).
2. They do not pay taxes, but instead are required to distribute at least one third of its profits to works of social interest.

Credit unions. Are very similar to the savings banks, in fact it is often difficult to distinguish because they also adopt the name “box.” The main characteristic of these entities that are not public property, are actually owned by a “financial cooperatives.” Credit unions are often associated with a cooperative association or industrial or sectoral, so for example the Fund is linked to the Lawyers Bar Association. Read the rest of this entry →