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Brazil court OKs crypto account closures; 2 Dominican banks in M&A deal

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Brazil court OKs crypto account closures; 2 Dominican banks in M&A deal

* Brazil's Superior Court of Justice said in a pioneering decision that financial institutions do not violate the law by closing accounts of cryptocurrency brokers that do not comply with the country's banking regulations, Reuters reported. The high court came out with the ruling after deciding on a case concerning Itaú Unibanco Holding SA's closure of the accounts of Mercado Bitcoin Serviços Digitais Ltda.

* Banco Múltiple Activo Dominicana acquired Banco de Ahorro Y Credito Inmobiliario SA as part of its growth strategy in the Dominican financial sector, El Capital Financiero reported. With the acquisition, already approved by the banking regulator, Banco Activo has assets of around 2 billion Dominican pesos.

MEXICO AND CENTRAL AMERICA

* New rules to be set by Mexican private pension fund regulator CONSAR in an effort to improve the service quality of local pension fund managers are credit positive for investors and asset managers, Moody's said. The proposed rules will shorten customers' wait times and reduce operating costs, according to the rating agency.

* Gian Maria Milesi, deputy director of Economic Research at the IMF, said Mexico's economic growth "does not correspond" to its size and potential as a country, El Economista reported. He said that while "corruption and insecurity" prevail, Mexico "has a very solid macroeconomic management framework."

* Banco BAC San José SA will auction standardized bonds worth around 15 billion Costa Rican colones on Oct. 16. The series CQ bonds will carry a gross rate of 10.16% and a term of 1,530 days.

BRAZIL

* If current Brazilian central bank Governor Ilan Goldfajn decides to leave, leading presidential candidate Jair Bolsonaro could tap Roberto Campos Neto as his replacement, Folha de S.Paulo reported, without citing any sources. Campos Neto is an officer and board member at Banco Santander (Brasil) SA.

* Leading Brazilian presidential candidate Jair Bolsonaro plans to appoint Paulo Guedes, coordinator of Bolsonaro's government program, as chief economic officer if he wins the second round of the elections Oct. 28, Valor Econômico reported. Leftist presidential candidate Fernando Haddad also said he will not name any banker as finance minister should he be elected, Reuters reported. "It may be an economist or business leader, but not a banker," Haddad was quoted as saying.

* Banco Santander (Brasil) SA formalized the creation of Santander Auto SA, focused on the supply and commercialization of automobile insurance through digital channels. The new company is 50% owned by Sancap Investimentos e Participações SA, a subsidiary of Santander, and the other 50% by HDI Seguros SA.

* Banestes SA - Banco do Estado do Espírito Santo will now pay out up to 60% of its adjusted net income in dividends and interest on equity, up from its previous maximum of 40%. The bank also revised its guidance expectations, saying that it now expects its operational efficiency ratio for 2018 to be between 51% and 54%, compared to an earlier guidance range of 53% to 56%. It also expects to see commission and fee income for the year rise by 10% to 13%, up from a prior range of 7% to 10%.

ANDEAN

* Banco Bilbao Vizcaya Argentaria Colombia SA appointed Carlos Alberto Rodríguez as the new vice president of corporate investment banking and Alfredo López Baca as vice president of risks, La República reported.

SOUTHERN CONE

* Chilean banking regulator SBIF authorized the integration of Banco Falabella with its sister unit, CMR Falabella SA, Diario Financiero reported. The integration will result in the creation of Chile's largest credit card issuer, ultimate parent SACI Falabella.

* Argentine mobile banking startup Ualá generated $34 million in a fresh round of funding led by Goldman Sachs Investment Partners, Business Insider reported. According to Ualá CEO Pierpaolo Barbieri, more than half of the capital came from Goldman Sachs.

* Banco Central del Uruguay President Mario Bergara will resign from the monetary body to present his candidacy for the presidency of the country this week, El Observador reported. Bergara, who has been head of the monetary body for three years, has little support among the main parties and only 3% of voter intentions, a local poll showed.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: Indian lender in asset buy; Vietcombank to sell bank stakes; ANZ case adjourned

* Middle East & Africa: Bank of Israel names new governor; South Africa finance minister resigns

* Europe: BoE flags concerns about leveraged loans; HSBC settles US RMBS claims for $765M

Pablo Jiménez 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.