ColombiaAntitrust/Competition Law
Colombian banking entities will no longer have to report before the Superintendency of Banking any interbanking loan operations they perform, unless such loans exceed over 7% of the assets of the banking entity performing the operation. This will definitely ease the requisites to be complied with by these entities, for the performance of repurchasing operations.
On the other hand, ABN AMRO BANK COLOMBIA, a 100% wholly owned subsidiary of ABN AMRO HOLDING B.V. of Holland was recently approved by Colombian Credit Rating Companies, to be registered by the Superintendency of Securities (Superintendencia de Valores) before the National Registry of Securities and Intermediaries (Registro Nacional de Valores e Intermediarios). In this sense, the banking institution will now be able to register its securities in Colombian stock exchanges for public offerings.
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