They are the retail arm of the central bank more or less, e.g. they are owned by the state. The state usually won't go bankrupt, e.g. they won't either. (Well, Argentina, New York City, etc., have done)NINO said:Hi does anyone know how is the state of the Banco de Reservas??.
I heard some rumores they are almost bankrupt,may-be in time to get my money out.
Funny, I always figured that Citibank would be the last to go down.Pib said:I think that in the VERY unlikely case that the banking system collapse BR will be the last one to go down... not much consolation, but better than nothing.
Actually, legally speaking, Citibank could only go bankrupt in the DR if it has gone bankrupt in the U.S. Citibank has branches in the DR of its US bank, not subsidiaries or branches of a non-US subsidiary. Payroll & everything else is done out of NY. No "corporate veil" allowing its DR operations to go under (or survive) separately.Pib said:Citibank is not a Dominican bank, and even if it goes bankrupt in the DR (?) it will not hurt them much internationally.