{"id":22482,"date":"2024-01-19T20:08:11","date_gmt":"2024-01-19T20:08:11","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction"},"modified":"2024-01-19T20:08:11","modified_gmt":"2024-01-19T20:08:11","slug":"banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction","title":{"rendered":"Banco de Cabo Verde recommended that the sector stay out of the social security auction"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>The Bank of Cape Verde (BCV) announced this Thursday that it had recommended the country’s commercial banks not to participate in an auction of deposits from the National Social Security Institute (INPS) until instruments are created to mitigate liquidity risk.<\/p>\n

The Cape Verdean banking regulator’s reaction follows a complaint from the country’s largest trade union federation, which today accused Banco Cabo-verdiano de Nego\u0301cios (BCN) of not transferring 1.3 million euros to the National Social Security Institute ( INPS), after an auction.<\/p>\n

BCV stated that it only became aware of the auction on December 12, 2023, when it received a complaint signed by the majority of participating banks, alleging \u201clack of transparency in the process\u201d.<\/p>\n

Among the points mentioned were \u201clack of communication to competitors about the competition regulations, the rationale for choosing the chosen ratios and their weighting, as well as concerns about risks to the financial system, due to the nature of INPS as a systemic depositor\u201d.<\/p>\n

The Cape Verdean banking regulator stated that, after receiving the complaint, it carried out internal tests that demonstrated that the \u201ccontinuity of auctions, as carried out, could negatively impact some banks’ ratios, namely liquidity ratios\u201d.<\/p>\n

\u201cThe Bank of Cape Verde could not ignore the complaint presented, especially when subscribed by the majority of banks participating in the auction (four of the six participating banks)\u201d, said the institution.<\/p>\n

\u201cIn view of the vulnerabilities identified, particularly the concentration in certain sources of financing, the Bank is considering defining macroprudential instruments to mitigate systemic liquidity risk, which are already being studied\u201d, concluded the BCV.<\/p>\n

At today’s press conference, the general secretary of the National Union of Cape Verdean Workers – Central Sindical (UNTC-CS), Joaquina Almeida, accused the BCV of being an “accomplice” in the failure to transfer funds from the BCN to the INPS, due to the recommendations it made.<\/p>\n

The BCN is led by the Cape Verdean insurance company I\u0301mpar, with a share of 86.76%, and is also participated by the Cape Verde Red Cross (4.44%) and several private investors (8.80%), and on 31 December 2021 had a total share capital of 900 million escudos (8.1 million euros).<\/p>\n

According to statistics, the INPS, created in 1991, has 238,965 beneficiaries of the social security system, 41% of whom are active insured people, 3.2% are pensioners, 2.9% are public sector pensioners, 48.6 are family members and 4.3% under convention.<\/p>\n

For More News And Analysis About Cape verde<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Cape verde. The Bank of Cape Verde (BCV) announced this Thursday that it had recommended the country’s commercial banks not to participate in an auction of deposits from the National Social Security Institute (INPS) until instruments are created to mitigate liquidity risk. The Cape Verdean banking regulator’s reaction follows a complaint from the […]<\/p>\n","protected":false},"author":84,"featured_media":22481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,331,328],"class_list":["post-22482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"\nBanco de Cabo Verde recommended that the sector stay out of the social security auction - Cape Verde<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banco de Cabo Verde recommended that the sector stay out of the social security auction - Cape Verde\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Cape verde. The Bank of Cape Verde (BCV) announced this Thursday that it had recommended the country’s commercial banks not to participate in an auction of deposits from the National Social Security Institute (INPS) until instruments are created to mitigate liquidity risk. The Cape Verdean banking regulator’s reaction follows a complaint from the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\" \/>\n<meta property=\"og:site_name\" content=\"Cape Verde\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-19T20:08:11+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Banco de Cabo Verde recommended that the sector stay out of the social security auction\",\"datePublished\":\"2024-01-19T20:08:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\"},\"wordCount\":410,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Cape verde\",\"Cape verde\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\",\"url\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\",\"name\":\"Banco de Cabo Verde recommended that the sector stay out of the social security auction - Cape Verde\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg\",\"datePublished\":\"2024-01-19T20:08:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg\",\"width\":1148,\"height\":550,\"caption\":\"Banco de Cabo Verde recommended that the sector stay out of the social security auction\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/cape-verde\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banco de Cabo Verde recommended that the sector stay out of the social security auction\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#website\",\"url\":\"https:\/\/www.africa-press.net\/cape-verde\/\",\"name\":\"Cape Verde\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/cape-verde\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Banco de Cabo Verde recommended that the sector stay out of the social security auction - Cape Verde","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction","og_locale":"en_US","og_type":"article","og_title":"Banco de Cabo Verde recommended that the sector stay out of the social security auction - Cape Verde","og_description":"Africa-Press – Cape verde. The Bank of Cape Verde (BCV) announced this Thursday that it had recommended the country’s commercial banks not to participate in an auction of deposits from the National Social Security Institute (INPS) until instruments are created to mitigate liquidity risk. The Cape Verdean banking regulator’s reaction follows a complaint from the […]","og_url":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction","og_site_name":"Cape Verde","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-01-19T20:08:11+00:00","author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Banco de Cabo Verde recommended that the sector stay out of the social security auction","datePublished":"2024-01-19T20:08:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction"},"wordCount":410,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg","keywords":["Africa Press","Africa Press-Cape verde","Cape verde"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction","url":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction","name":"Banco de Cabo Verde recommended that the sector stay out of the social security auction - Cape Verde","isPartOf":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg","datePublished":"2024-01-19T20:08:11+00:00","author":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"breadcrumb":{"@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#primaryimage","url":"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg","contentUrl":"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2024\/01\/sm_1705682950.196429.jpg","width":1148,"height":550,"caption":"Banco de Cabo Verde recommended that the sector stay out of the social security auction"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-recommended-that-the-sector-stay-out-of-the-social-security-auction#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/cape-verde\/"},{"@type":"ListItem","position":2,"name":"Banco de Cabo Verde recommended that the sector stay out of the social security auction"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/cape-verde\/#website","url":"https:\/\/www.africa-press.net\/cape-verde\/","name":"Cape Verde","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/cape-verde\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/posts\/22482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/comments?post=22482"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/posts\/22482\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/media\/22481"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/media?parent=22482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/categories?post=22482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/cape-verde\/wp-json\/wp\/v2\/tags?post=22482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}