Review of the new check format

[NewsWhore]

The Central Bank and the nation's commercial banks have agreed to proceed with the new formats for checks. The date set for the new checks is 30 April. According to El Nuevo Diario, the Central Bank and the commercial banks held a meeting where they agreed that even after the deadline, both types of check would be allowed to circulate during a transition period to be established at a later meeting. This transition period would help assuage concerns expressed by several industrial and commercial associations, which were calling for the deadline to be extended until September. Central Bank governor Hector Valdez Albizu said that this process of introducing a new format for checks had started in 2006 and the financial and printing industry has been aware of this and have taken the necessary steps to standardize the checks themselves within the agreed timeframes.

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