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Brazil drafts crisis regulation bill for banks; Caixa acquires Banco Pan shares

* Brazil's central bank drafted a bill for differentiated regulation of financial companies in the event of a banking crisis, Reuters reported. The bill would establish two new mechanisms to determine how banks will be dealt with based on their size. It allows for the use of public funds for bank bailouts, but only after all other options have been exhausted.

* Caixa Participações SA has acquired 61,265,444 common shares and 40,117,307 preferred shares of Banco Pan SA by exercising a call option. Once the move and a primary share offering held in September are approved by Brazil's central bank, Caixa Participações will hold a 34.275% stake in Banco Pan while Banco BTG Pactual SA will hold a 39.523% stake.

MEXICO AND CENTRAL AMERICA

* Mexico's economy shrank 0.5% in October from the previous month in seasonally adjusted terms, Reuters reported, citing data from national statistics agency INEGI. After four consecutive benchmark rate cuts in 2019, central bank Governor Alejandro Díaz de León said the monetary authority is not committed to moving its benchmark interest rate in either direction, The Wall Street Journal reported.

* Private sector investment in Mexico fell 5.49% year over year in the third quarter of 2019, the largest decline in six years, El Financiero reported, citing data from national statistics agency INEGI. Public sector investment, meanwhile, contracted 11.1%.

BRAZIL

* B3 SA - Brasil Bolsa Balcão and ATS Brasil SA reached an agreement through which the Brazilian stock exchange operator will provide securities transfer services to ATS. The agreement could allow ATS to again file for the creation of a stock exchange after a previous request was denied by the CVM securities regulator.

* Banco Nacional de Desenvolvimento Econômico e Social could return about 70 billion reais to Brazil's Treasury in 2020, although the exact amount has yet to be approved by the state-run development bank's board, two sources familiar with the matter told Reuters.

* Banco do Brasil SA has entered into a partnership with financial technology firm Bom Pra Crédito and will initially offer personal loans through the fintech company's website before introducing other types of loans, Estadão reported.

* More than 820,000 people renegotiated 4.5 billion reais worth of debt with Brazilian banks in early December as part of a program that was backed by the central bank and the Febraban banking federation, UOL reported.

ANDEAN

* Former Bolivian President Evo Morales, who resigned and fled the country amid violent riots in November, told Reuters he plans to return to Bolivia by December 2020. He is currently residing in Argentina.

SOUTHERN CONE

* Fitch Ratings upgraded Argentina's long- and short-term foreign currency issuer default ratings to CC/C from restricted default over a new repayment schedule taking effect with regards to the government's unilateral term extension of short-term, dollar-denominated treasury bills. The rating agency is not ruling out risks of missed payments, considering the uncertainty around negotiations with bondholders.

* Chilean President Sebastian Pinera approved a referendum to be held April 26, 2020, on a new constitution for the country, Reuters reported. A new constitution is one of the demands from protesters who have demonstrated across the country over the past two months.

Pablo Jimenez Arandia contributed to this article.

The Daily Dose has an editorial deadline of 8:00 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.