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Balboa Bank's reorganization extended; Peru central bank holds key rate

* Panama's banking regulator, the SBP, has extended the reorganization process of Balboa Bank & Trust Corp. by eight days to Oct. 20. The extension will allow more time to finalize the bank's sale to Costa Rica-based Corporación BCT SA. Balboa Bank has been under regulatory control since May 2016 after it was sanctioned by U.S. authorities for alleged links to a money laundering network.

* Peru's central bank left its benchmark interest rate unchanged at 3.50%, noting that inflation has returned to the target range and the economy is expected to recover from a slowdown. Annual inflation in the country eased to 2.94% in September from 3.17% in the previous month.

MEXICO AND CENTRAL AMERICA

* The Mexican central bank will probably continue embracing "prudent" monetary policy to protect the economy and the local currency from NAFTA renegotiation risks, Reuters reported. "The balance of risks to growth has deteriorated, particularly due to the perception that adverse scenarios related to the bilateral relationship between Mexico and the United States could materialize," the central bank said in the minutes of its most recent meeting.

* Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto said they remain devoted to finalizing a "win-win-win" deal as they renegotiate the NAFTA trade pact with the U.S., Reuters reported. Their comments followed the U.S. proposing a "sunset clause" that would cause NAFTA to expire after five years unless all three counties agree that it should continue.

CARIBBEAN

* AXIS Capital Holdings Ltd. provided a preliminary estimate of the total net financial impact from third-quarter catastrophe losses of $578 million, net of tax and estimated recoveries from reinsurance and retrocessional covers and including the impact of estimated reinstatement premiums.

* White House Chief of Staff John Kelly said the U.S. government believes Cuba could bring about an end to mysterious attacks that have harmed the health of around 24 American diplomats in Cuba, Reuters reported. The U.S. State Department does not know who or what was responsible for the incidents.

BRAZIL

* Banco do Brasil SA has hired BofA Merrill Lynch, BTG Pactual, Itaú BBA, Santander, Wells Fargo and BB Securities to arrange a possible U.S. dollar-denominated bond issuance, Valor Econômico reported. Banco do Brasil will hold a roadshow later this month in London, Los Angeles, New York and Boston.

* Brazil's government is divided over how it should use 8 billion reais in unexpected revenues collected in September, Folha de S.Paulo reported. The Planning Ministry wants to use the funds to boost spending, while the Treasury prefers to use them to reduce the government's fiscal deficit.

* Octavio de Lazari Jr., the head of Bradesco Seguros SA, is considered by many to be the frontrunner to replace Lázaro Brandão as the chairman of Banco Bradesco SA, Folha de S.Paulo reported. Brandão resigned as chairman earlier in October.

* Brazilian Finance Minister Henrique Meirelles said the country's economy may reach potential GDP growth of 4% in three or four years if key economic reforms, such as a pension and tax overhaul, are approved, Valor Econômico reported.

* Loan disbursements to Brazil's agricultural sector totaled 48 billion reais in the third quarter, up 25.7% from the same period a year ago, amid lower interest rates, Valor Econômico reported.

ANDEAN

* Bancolombia SA priced a $750.0 million public offering of subordinated notes set for Oct. 18. The 10-year notes have an optional redemption right on the fifth year and a coupon of 4.875%, payable semi-annually.

* Peruvian industrial association SNI expects private investment in the country to fall for a fourth consecutive year in 2017, driven by a decline in business confidence, Gestión reported.

SOUTHERN CONE

* Chilean central bank Gov. Mario Marcel said a 0.2% decline in consumer prices in September "surprised everyone," Reuters reported. GDP growth expectations for Chile have been improving for more than six months, although business expectations have been relatively more unpredictable, he added.

* Consumer prices in Argentina increased 1.9% in September, resulting in a nine-month inflation figure of 17.6%, which is above the central bank's 12% to 17% target range for 2017, Reuters reported, citing government statistics agency Indec.

* Banco de Chile booked a net profit of about 433.66 billion Chilean pesos in the first nine months of 2017, slightly higher than Banco Santander Chile's 430.14 billion pesos profit in the same period, Diario Financiero reported.

* Banco de Valores SA Chairman Juan Nápoli said Argentina's central bank may raise its benchmark interest rate in the coming months since it is unlikely to meet its inflation target for 2017, El Cronista reported.

* Chilean Economy Minister Jorge Rodríguez Grossi said the government hopes to present next week new legislation aimed at boosting investment in the country by reducing red tape and removing unnecessary costs, Diario Financiero reported.

* At an annual Moody's conference, analysts said the rating agency will likely upgrade its sovereign ratings on Argentina in the coming months, although any action will depend on a number of factors including election results and approval of the government's budget, El Cronista reported.

* In a parliamentary hearing, Banco de la República Oriental del Uruguay said accusations that the lender is going through bankruptcy are unjustified, El País reported. The company is currently embroiled in a dispute with labor unions over its decision to merge some of its branches. Vice President Leandro Francolino said a change in the bank's business model actually led to higher profits in 2016.

* Argentina's local currency debt market, which is relatively small and heavily skewed toward short tenors, limits funding options for companies, infrastructure providers and sub-sovereign governments, which is a credit negative, Moody's said. "Issuers in Argentina face a trade-off: either issue domestically and accept refinancing risk, or issue cross-border and take on foreign exchange risk," said Aaron Freedman, an associate managing director at the rating agency.

PAN LATIN AMERICA

* The United Nations' Economic Commission for Latin America and the Caribbean said it expects GDP in the region to grow 1.2% on average in 2017, slightly higher than its previous 1.1% estimate. The commission also forecast average GDP growth of 2.2% for the region in 2018.

* Brazilian Finance Minister Henrique Meirelles said possible delays in the normalization of monetary policy in the U.S. and Europe may pose a risk to the global economy, Valor Econômico reported. Any potential delay would lead to a bubble in international asset markets, he said.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: US urges World Bank to inspect China lending; 3 Iranian banks eye India branches

* Middle East & Africa: World Bank cuts SSA growth outlook; Bank Muscat's 9-month profit drops 4.9%

* Europe: HSBC gets new CEO; 3 global banks settle LIBOR case; ASR issues CoCos

Mariana Aldano 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.