The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Banking: US urges financial services development in Latin America

Senior officials at the US Treasury are urging Latin American countries to pursue policies that will help grow their mortgage markets, despite the sub-prime woes of the US.

Anna Cabral, US Treasury

"The countries of Latin America need to look for opportunities to make credit and mortgages more readily available"
Anna Cabral, US Treasury

"In the US upwards of 65% of the population are home owners and this is something that countries in Latin America would like," Hank Paulson, US Treasury secretary, told Euromoney during last month’s Inter-American Development Bank meeting in Miami. Paulson’s colleague, Anna Cabral, US treasurer, agrees. "The countries of Latin America need to look for opportunities to make credit and mortgages more readily available," she says.

But as the US comes to terms with its sub-prime mortgage crisis, Cabral stresses that Latin nations need to act with caution in developing their mortgage markets. "Innovation and creativity in the mortgage market is important but it has to be monitored," she says. "The type of innovation that led to a substantial increase in home ownership in the US is not a trend we want to reverse but going forward we need to make sure people are better protected." To that end, the US Treasury is engaged in conversations with its counterparts in certain countries in Latin America, such as Honduras, El Salvador and Mexico, about how they can develop their financial systems.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree