Miami (USA), Nov 13 (EFE) .- The increase of regulations to eliminate risks in transactions and the protectionism of the US Government. lives a moment of "great strength", experts and banking executives of the region agreed today in Miami.
While there continue to be favorable winds for the banking sector in America Latina, with a "great patrimonial strengthening", the policy implemented for the elimination of risks in operations (known as "de-risking") entails "negative effects," said Efe Jose Manuel López, president of the Latin American Federation of Banks (Felaban).
Lopez assured that the Latin American banking sector, located "among the best in the world", observes with "great concern" the effects of "de-risking" for its "excess in regulatory requirements" to avoid money laundering and other assets.
"The regulatory requirements on the part of USA official of the 51st annual meeting of Felaban, which concludes tomorrow, Tuesday.
More than 2,000 international banking executives, from 54 countries, meet at this meeting, designated as the largest financial conference in Latin America and organized by the International Banking Association of Florida (FIBA) and Felaban.
In the opening speech, Lopez made a positive radiography the state of the economy in the region, which shows an "upward trend", after a period of recession, palpable in an "improvement of the foreign trade of our countries".
No However, despite an average growth of 2.5% in Gross Domestic Product (GDP) in Latin America in 2018 in 2018, it is insufficient, he said, to "achieve a reduction in the levels of unemployment and significantly improve the welfare of the population. "
" We must continue to make fiscal and market reforms to sustain economic growth "in the region, reforms that accompany the "real strength" of the banking sector, said the general manager of Felaban.
A sector that has an average patrimonial strengthening of 14.5%, "very superior" to the norm set by Basel III (of 8%), and, even more important, with a "solvency" of 14.4% and a past due portfolio (past due loans) that does not reach 2%, he stressed. General Secretary of Felaban, Giorgio Trettenero, stressed the importance of "new technological trends and means of payment", a phenomenon that has modified the "way of relating of banks with clients ".
Therefore, in his opinion, one of the biggest challenges for the current financial system is" moving from traditional banking to a digital and integral banking ", which it entails an inevitable "process of technological innovation".
He highlighted, like López, the "soundness" and "profitability" of the banking sector in the region, although he specified that a "harmonic regulatory environment" and "stabilize" the measures.
He also pointed out the importance of inclusion and financial education and the necessary improvement of the population's access to financial services.
Likewise, Trettenero stressed the need to "mitigate" the "serious impact" of the so-called "de-risking", a series of restrictions that "harm banks and they damage foreign trade. "
And he insisted that the financial sector in Latin America shows an" ironclad commitment "in the fight against" money "banking movements. illicit ".
Regarding the protectionist discourse of US President Donald Trump and his questioning of the North American Free Trade Agreement (NAFTA), Lopez acknowledged that this position generates "great uncertainties."
He recalled that the daily trade between the United States and Mexico reaches 1,000 million dollars and that investment American in this country is around 20,000 million dollars.
Therefore, a "cut, brake or paralysis" of the treaty would be a great detriment to both nations and, no doubt, to Latin American banking.
Therefore, for the president of Fiba's board of directors, Tony Bejarano, the synergy created between Felaban and Fiba is key, a relationship that generates "very good" mutual business operations and profit of financial institutions "in the hemisphere.