NewsWhore
03-05-2008, 02:40 PM
The Central Bank reports that it was able to negotiate and renew RD$63.727 billion in certificates of deposit. The bank called this an expression of the confidence that the major economic players in the Dominican Republic have in the economy. The press release, as reported in El Caribe, says that the Central Bank has covered all certificates of deposit issued over the last six months. The bank highlights the fact that the renewals were for different financial instruments and featured a conversion of CDs with early withdrawal privileges exchanged for fixed term CDs without withdrawal privileges for 24, 30 and 36 months. The interest on the new instruments will be 11%, 13%, and 15% APR. With this move, the Central Bank has reduced the amount of CDs with early withdrawal privileges to just 5.4% of the total.
More... (http://www.dr1.com/index.html#7)
More... (http://www.dr1.com/index.html#7)