Work Area: Finance

BankBoston customers get access to online banking in Brazil

January 31, 2001,

09 February 2001

Opening of new local branches of foreign banks duly authorised to operate in Brazil

The Brazilian Monetary Council has decided to simplify the bureaucratic procedure required for the opening in Brazil of new branches of financial institutions under direct or indirect control of foreign capital already authorised to operate in the country.

02 February 2001

Opening of new local branches of foreign banks duly authorised to operate in Brazil

The Brazilian Monetary Council has decided to simplify the bureaucratic procedure required for the opening in Brazil of new branches of financial institutions under direct or indirect control of foreign capital already authorised to operate in the country.

24 January 2001

BankBoston customers get access to online banking in Brazil

BankBoston, a subsidiary of US-based Fleetboston, has signed an agreement with wireless operator BCP, a subsidiary of US-based Bellsouth, which will enable its Brazilian customers to have access to online banking services via the internet.

10 January 2001

US$50 million Political Risk Insured Floating Rate Notes offering in Argentina

Pérez Alati and White & Case advised on an offering of Floating Rate Notes, completed for Banco de Galicia y Buenos Aires SA, on December 20, 2000. It is for a principal amount of US$50 million, due in 2005.

20 December 2000

Banking: Canada's Scotiabank acquires control of Mexican financial services group

On November 30, 2000 Scotiabank, advised by McCarthy Tétrault of Canada and Ritch Heather of Mexico, completed a transaction to increase its stake in Grupo Financiero Inverlat SA de CV to 55 per cent.

30 November 2000

Hughes Hubbard and Sherman & Sterling in US$120 million commercial paper program

The program, a re-do of one done last year, was signed between CABEI and Barclays Bank PLC. It is designed to finance foreign trade operations in Central America and was effective as of November 21, 2000.

21 November 2000

Successful bidder for São Paulo state bank represented by Tozzini Freire

On November 20, Santander of Spain became Brazil's third largest financial institution with its winning bid for a controlling stake in Banespa. The bank agreed to pay R$7.05 million, a 281 per cent premium on the minimum asking price.

20 November 2000

Felsberg e Asociados represents Banestado in privatisation auction

On October 17 2000, Itau, Brazil's second largest private bank, was awarded Banestado, the Paraná state bank, with its bid of R$1.625 billion (US$867 million).

17 October 2000

Improved anti-laundering legislation and banking and trust secrecy

The Republic of Panama recently enacted four pieces of legislation to strengthen its fight against money laundering.

03 October 2000

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