Monday, August 7, 2000

Local banks and global regulations

"The saddest part of the whole issue of bank regulations is that in truth all risk persist and so, when there are bank fusions, these could multiply, since the bigger they are the harder they fall”

"A local bank has a serious compromise with its sphere of influence, mostly because it has nowhere else to go. Speculating on that the globalization of our local banks started when Banco de los Llanos, from Valle La Pascua morphed into the Banco Principal of Caracas-we observed that did not prove to be very useful (Banco Principal disappeared in the bank crisis of 1994). Are we now to suppose the process that takes our banks to be managed from Madrid is better?"

In El Universal of Caracas