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Banco Latino
Banco Latino was a Venezuelan bank based in Caracas, and at the time of its 1994 failure was the country's second largest.''The New York Times'', 16 May 1994Failure of High-Flying Banks Shakes Venezuelan Economy/ref> It had a good relationship with the government, such that ministries moved their accounts to the bank, and the army and the state-owned oil company PDVSA entrusted their pension funds to Latino trust managers. Latino built a new high-rise headquarters, and expanded aggressively, both within Venezuela and overseas. History Banco Latino was a Venezuelan bank founded as "BANCO FRANCES E ITALIANO PARA LA AMERICA DEL SUR" ( ''Banque Francaise-Italienne pour Amerique du Sud'') on February 17, 1950 with venezuelan headquarters in Caracas. Since 1967 adopted the name Banco Latinoamericano de Venezuela and finally was named BANCO LATINO on February 7, 1975. It was closed in 1994 after falling into a huge crisis and liquidated in mid-2000. Its first Board was chaired by Dr. R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caracas
Caracas ( , ), officially Santiago de León de Caracas (CCS), is the capital and largest city of Venezuela, and the center of the Metropolitan Region of Caracas (or Greater Caracas). Caracas is located along the Guaire River in the northern part of the country, within the Caracas Valley of the Venezuelan coastal mountain range (Cordillera de la Costa). The valley is close to the Caribbean Sea, separated from the coast by a steep mountain range, Cerro El Ávila; to the south there are more hills and mountains. The Metropolitan Region of Caracas has an estimated population of almost 5 million inhabitants. The historic center of the city is the Cathedral, located on Bolívar Square, though some consider the center to be Plaza Venezuela, located in the Los Caobos area. Businesses in the city include service companies, banks, and malls. Caracas has a largely service-based economy, apart from some industrial activity in its metropolitan area. The Caracas Stock Exchange and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Venezuela
The Central Bank of Venezuela (, BCV) is the central bank of Venezuela. It is responsible for issuing and maintaining the value of the Venezuelan bolívar and is the governing agent of the Venezuelan Clearing House System (including an automated Clearing house (finance), clearing house). History Foundation and currency management Since its inception in the late 1930s, the BCV was given a clear mandate to control the monetary policy of the nation, centralizing the operations of a handful of private banks that used to mint the Venezuelan currency, the Venezuelan bolívar, bolívar. For almost 50 years the BCV managed to sustain a remarkable strong currency, with inflation rates hovering on the 2-3% mark during that period. 1980s oil glut However, since the oil glut of the 1980s and the first serious devaluation of the currency in 1983 (known in Venezuela as ''Viernes Negro'', or Black Friday) the bolívar has been plagued with chronic instability, mistrust and declining value t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venezuelan Companies Established In 1950
Venezuelans (Spanish: ''venezolanos'') are the citizens identified with the country of Venezuela. This connection may be through citizenship, descent or cultural. For most Venezuelans, many or all of these connections exist and are the source of their Venezuelan citizenship or their bond to Venezuela. Venezuela is a diverse and multilingual country, home to a melting pot of people of distinct origins, as a result, many Venezuelans do not regard their nationality with ethnicity, but with citizenship or allegiance. Venezuela as Argentina and Brazil, received most immigrants, during 1820s to 1930s Venezuela received a major wave of 2.1 million European immigrants, being the third country in Latin America to have received Europeans, behind Argentina and Brazil. Historical and ethnic aspects Pre-Columbian period Writing was not used in pre-Columbian times, a historical stage where various groups began to move throughout the Americas, thus making it difficult to find evidence of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Failures
A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. A bank typically fails economically when the market value of its assets falls below the market value of its liabilities. The insolvent bank either borrows from other solvent banks or sells its assets at a lower price than its market value to generate liquid money to pay its depositors on demand. The inability of the solvent banks to lend liquid money to the insolvent bank creates a bank panic among the depositors as more depositors try to take out cash deposits from the bank. As such, the bank is unable to fulfill the demands of all of its depositors on time. A bank may be taken over by the regulating government agency if its shareholders' equity are below the regulatory minimum. The failure of a bank is generally considered to be of more importance than the failure of other types of business firms becau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 2004
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1950
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of Venezuela
{{Disambiguation ...
Defunct may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the process of becoming antiquated, out of date, old-fashioned, no longer in general use, or no longer useful, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gustavo Gomez Lopez
Gustavo Adolfo Gómez López (Caracas, Venezuela, January 7, 1951) is a Venezuelan lawyer, banker and businessman of Spanish ancestry. Founder of the law firm Gómez López & Asociados, he was president of Banco Latino and its group of companies until 1994. Currently, he practices his profession and is a member of the boards of directors of several media outlets and insurance companies. Biography Gustavo Gómez López was born in El Recreo, Caracas on January 7, 1951. He is the youngest of eight children of Rubén Darío Gómez Rodríguez, originally from Upata, Bolívar State, Venezuela, and Agustina Soledad López Alberti, from Barcelona, Spain. Gómez López studied law at Andrés Bello Catholic University in Caracas, graduating in 1974. He has a son named Gustavo Ignacio Gomez Gomez. In 1982, he married Claudia Febres Cordero Salom. Professional activity During his university years, Gómez López served as a student representative on the Faculty of Law Council and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gustavo Cisneros
Gustavo Alfredo Jiménez de Cisneros y Rendiles (1 June 1945 – 29 December 2023) was a Venezuelan businessman and Chairman of '' Grupo Cisneros''. A onetime billionaire, according to ''Forbes,'' his net worth peaked at US$6.0 billion in 2007 (equivalent to $ billion in prices when adjusted for inflation); he dropped off the billionaires' list in 2020 as a consequence of his Venezuelan assets losing value due to the long economic crisis in Venezuela. Early life and education Cisneros was born on 1 June 1945, the son of Diego Cisneros and Albertina Cisneros (née Rendíles Martínez). Cisneros's father, Diego Cisneros, was in business in Caracas from 1929 and received the Pepsi concession for Venezuela in 1940, before going on to gain the concession for private TV channel Venevisión in 1961. The Cisneros family was the wealthiest in South America on the 2006 ''Forbes'' ranking. Cisneros graduated from Suffield Academy in Connecticut in 1963. He graduated from Babso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TIME
Time is the continuous progression of existence that occurs in an apparently irreversible process, irreversible succession from the past, through the present, and into the future. It is a component quantity of various measurements used to sequence events, to compare the duration of events (or the intervals between them), and to quantify rates of change of quantities in material reality or in the qualia, conscious experience. Time is often referred to as a fourth dimension, along with Three-dimensional space, three spatial dimensions. Time is one of the seven fundamental physical quantities in both the International System of Units (SI) and International System of Quantities. The SI base unit of time is the second, which is defined by measuring the electronic transition frequency of caesium atoms. General relativity is the primary framework for understanding how spacetime works. Through advances in both theoretical and experimental investigations of spacetime, it has been shown ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interbank
Interbank, formally the Banco Internacional del Perú Service Holding S.A.A. is a Peruvian provider of financial services. History In 1897, Elias Mujica opened an agency at the Jirón de la Unión in Lima's historic centre under the name of ''Banco Internacional''. In 1934, branches were opened in Chiclayo and Arequipa, and later expansions included Piura, Sullana and other places in Peru. Under the military government of Juan Velasco Alvarado, in 1970, the national bank ( Banco de la Nación) purchased ''Banco Internacional'' and changed its name to ''Banca Asociada del País''. Ten years later, under the democratic government of Fernando Belaunde Terry, the bank changed its name to ''InterBanc'' but it was still property of the Peruvian government. In July 1994, Carlos Rodriguez-Pastor Sr. along with several North American businessmen purchased 91% of the bank's stocks. The new owners changed the name to ''Interbank''. Part of the expansion strategy at that point was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many Client (business), clients withdraw their money from a bank, because they believe Bank failure, the bank may fail in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvency, insolvent. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank may acquire more cash from other banks or from the central bank, or limit the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
