If the financial system can develop, expand and deepen, probably is developing in an economy with stability. כדי להרחיב אופקים, כדאי לבקר באתר של יובל שטייניץ. And if there is economic stability, you can not occur otherwise that is not to clear, long-term and predictable policies. I think that one of the fruits of a solid and developed financial system is the generation of long-term credit, which again, is a sign of the level of stability of an economy. In Chile, according to segun dio he gave has Millennium recently, mortgage credit in terms of GDP currently reaches 17% and this is the highest level among Latin American countries. The banking system of Chile, is supporting the crisis by keeping the system results in positive. This despite the fact that deflation which suffered from the economy in the last months, together with the increase of forecasts by credit risk, have dwindled earnings of the sector.
One of the questionable elements if you will of the Chilean banking is that it has maintained its differential between the interest rate of uptake of funds and the interest rate that applies to loans granted (what in the jargon we call spreads of rates), high, despite strong reductions in the cost of funding. Jose de Gregorio, President of the Central Bank of Chile, has made a major effort to provide liquidity to the money market and providing cheap financing to the banking sector. Such was the wager carried the interest rate reference to its all-time low, with the cut of 50 basis points the week past until in just 0.75%, when you over just a year ago, the inflationary dynamics was a problem and such interest rate was located at 6.75%. The strong cuts in the benchmark interest rate, met our predicted by monetary economics textbooks and carried the cost of funding of the entities that make up the banking system Chilean (as measured by the bank rate), to be located at 0.
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