COSSEC effects temporary rule on surplus allocations
March 18, 2014
The Corporation for the Supervision and Insurance of Puerto Rico Cooperatives, known as COSSEC in Spanish, announced Monday the implementation of a temporary rule applicable to the distribution of surplus revenue — a statute designed ...
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Puerto Rico’s co-op sector is ‘ready to face’ downgrade
February 6, 2014
Puerto Rico’s co-ops is ready to weather the storm expected from the decision by Standard and Poor’s to downgrade the island’s credit rating to junk, contrary to other economic sectors, which may be adversely affected, ...
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Puerto Rico’s financial system reports 2% asset drop
November 26, 2013
Puerto Rico’s financial system — which comprises local and international commercial banks, cooperatives, mortgage and investment companies, and public banks, among others — reported $147.6 billion in assets during the third quarter of 2013, down ...
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