Types of financial institutions
1. For this law, the financial institutions can be classified in banking financial institutions and non-banking financial institutions.
2. Banking financial institutions are banks in general.
3. Non-banking financial institutions are the ones listed in article 5 of this law.
Activities of banking financial institutions
1. Financial banking institutions can carry out the following operations:
a) Receive deposits and other returnable funds from the public;
b) Carry out the function of intermediary in the settlement of payment operations;
c) Operations involving precious metals, as defined by the foreign exchange legislation;
d) Operate in insurance trading;
e) Promote the renting of safes and safekeeping of valuables;
f) Carry out operations of capitalization;
g) Carry out operations of leasing and factoring;
h) Extend guarantees and other undertakings;
i) Carry out credit operations;
j) Carry out operations in the capital markets through intermediation companies;
k) Deliver payment services;
l) Make transactions, on its own behalf or on behalf of a third party, of money, financial and foreign exchange market instruments;
m) Participate in stocks and debentures, issue and offering, and providing related services;
n) Consultancy, keeping, administration and management of the securities portfolio;
o) Sale and purchase of foreign notes and coins, or travelers’ cheques;
p) Participating in the capital of companies;
q) Other similar operations that the law does not forbid.
2.BNA shall be responsible for defining the terms and conditions for carrying out the operations referred to in the previous number.