Executive Decree PCM-084-2016 by means of which the National Agricultural Development Bank (BANADESA) is intervened and an Intervention Commission is appointed
Poder Ejecutivo
- Decree: PCM-084-2016
- Published: January 1, 2016
- Issuing body: Poder Ejecutivo
- Category: Financial & Tax
Summary
This decree intervenes in the National Bank for Agricultural Development (BANADESA) due to its financial crisis. It appoints an Intervention Commission with broad powers to manage the bank, ensure its operations, and submit a report within 30 days with recommendations to improve its situation. It aims to protect depositors and creditors while the institution is evaluated.
Amendments
- Modifies: Law for the Promotion of Production, Competitiveness and Support for Human Development Chapter I Support for Agricultural Production (Amendment)
- Modified by: Executive Decree Number PCM 008-2017 Nullifying Executive Decree Number PCM-084-2016 and Terminating the Interventory Commission of the National Agricultural Development Bank (BANADESA) (Repeal)
Full text
This document is available in Spanish only - English translation not yet available.
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Related laws
- Executive Decree PCM-084-2016 by means of which the National Bank for Agricultural Development (BANADESA) is declared under intervention — This decree places the National Bank of Agricultural Development (BANADESA) under government intervention due to its financial crisis spanning over 30 years. A team appointed by the President assumes full control of the bank to protect depositors, ensure its services continue, and present recommendations to improve its situation within 30 days.
- Decreto Legislativo No. 14-2019 — Aprobación del Acuerdo de Terminación y Liquidación del Contrato de Fideicomiso del Sistema de Control Migratorio y Emisión de Pasaportes (Decree 14-2019, 2019)
- Executive Decree PCM-065-2017 by which the powers of the Board of Directors of the Honduran Bank for Production and Housing (BANHPROVI) are modified in its capacity as administrator of the National Agricultural Development Bank (BANADESA) — This decree expands the powers of BANHPROVI's Board of Directors to manage BANADESA more efficiently. It orders the creation of two new management positions (First and Second Floor) to separate operations, appoint qualified administrators, and develop operational plans. It benefits farmers, homebuyers, and microentrepreneurs by strengthening the state development bank. (Decree 065-2017, 2017)
- Executive Decree PCM-048-2018 by which Executive Decree PCM-008-2017 is repealed and Executive Decree PCM-065-2017 relative to the administration of the National Agricultural Development Bank (BANADESA) is modified — This decree cancels BANHPROVI's administration of BANADESA and orders the National Banking and Insurance Commission (CNBS) to take necessary actions to resolve the bank's financial crisis. It affects farmers and producers who depend on agricultural credit, seeking to protect public finances given the institution's insolvency. (Decree 048-2018, 2019)
- Executive Decree PCM-008-2017 whereby measures are adopted for the administration and financial sanitation of the National Agricultural Development Bank (BANADESA) — This decree orders BANHPROVI to assume full administration of BANADESA to address its financial crisis. It separates the bank's assets and liabilities, transfers problem loans to a trust for collection, and ensures BANADESA continues serving farmers, microentrepreneurs, and low-income people who need housing and financing. (Decree 008-2017, 2017)