* A Mexican judge has signed an arrest warrant for Eduardo Cepeda, JPMorgan Chase & Co.'s country head for Mexico, over accusations of fraud in an $87 million loan the bank granted to real estate developer BVG World in 2007, Reuters reported, citing BVG World. "The accusations have no merit," the bank said in a statement. "We are working with our lawyers to respond to this demand and for justice to be served." The bank added that Cepeda has not been arrested yet.
* The Schall Law Firm and Rosen Law Firm separately announced that they are investigating claims on behalf of Banco Macro SA shareholders alleging that the bank may have issued materially misleading business information to investors. The law firms are looking into whether the bank's regulatory filings contained untrue or misleading information related to a December 2017 media report that said Chairman Jorge Horacio Brito was involved in a corruption scandal surrounding former Argentine Vice President Amado Boudou.
MEXICO AND CENTRAL AMERICA
* Banco Centroamericano de Integración Económica, or CABEI, has bolstered its capital position through recent contributions and the inclusion of South Korea and Cuba as nonregional members, Fitch Ratings said. The rating agency expects a 17% increase in the bank's equity and a rise of 11.4% in its callable capital by the end of 2018.
* Hurricane Bud intensified to a category 3 storm on June 11 roughly 265 miles off Mexico's Pacific coast, but will likely start to wane on June 12, Reuters reported, citing the U.S. National Hurricane Center.
* Moody's affirmed Guatemala's Ba1 issuer and Ba1 senior unsecured bond ratings, with a stable outlook. The affirmation reflects the country's track record of prudent fiscal management and proven economic resilience to shocks. However, the ratings are also constrained due to weak institutions and low wealth levels.
* Guatemalan Finance Minister Julio Héctor Estrada called on Congress to approve a $250 million loan from the World Bank before June 15 to help manage the emergency situation created by the Fuego volcano eruption, Prensa Libre reported.
CARIBBEAN
* Cayman Islands-based Sealand Capital Galaxy Ltd said it reached a final agreement to sell its entire stake in SecureCom Media Holdings Ltd. to Creative Alpha Ltd. for a total consideration of £10,000.
BRAZIL
* FINANSINOS S/A - Crédito, Financiamento e Investimento said Brazil's central bank approved the appointment of Mauro Elar Ferrari as CEO. Ferrari was named CEO after Ricardo Da Cruz Franck vacated the position in January.
* Caixa Econômica Federal increased its mortgage financing limit for public servants to 80% of the property's value from 70% previously, Valor Econômico reported. The change is effective June 11.
* The default rate on working capital loans granted by Banco Nacional de Desenvolvimento Econômico e Social increased more than 1.5 percentage points year over year in April amid slower-than-expected economic growth in Brazil, Diário Comércio Indústria & Serviços reported.
ANDEAN
* Venezuela's opposition-controlled National Assembly estimates that inflation in the country reached almost 24,600% in the 12 months through May, Reuters reported. Venezuela's central bank has not disclosed inflation data for more than two years.
* Banco de Bogotá SA has opened a new branch in the Colombian town of Belén de Umbría, which is located in the country's Risaralda department, La República reported.
SOUTHERN CONE
* Banco de Chile CEO Eduardo Ebensperger said the virus attack that hit the bank in May resulted in the theft of around $10 million, according to media reports. The attack was launched by an international group of hackers who shifted most of the money to Hong Kong, the executive reportedly said. A criminal complaint has been filed in Hong Kong. Shares of Banco de Chile were down nearly 1% in June 11 trading.
* Banco de Valores SA said an Argentine federal appellate court rejected the bank's appeal regarding a fine of 39 million pesos imposed on the company. The bank was fined a total of about 185 million pesos in 2014 for failing to submit documentation and noncompliance with anti-money-laundering rules. However, the amount was adjusted to 39 million pesos in 2017 after courts deemed the initial amount to be excessive.
* Fitch Ratings said it expects Argentina's three-year, $50 billion standby arrangement with the IMF to help alleviate the country's financing risks, especially amid weaker market confidence, but warned that future rating prospects for Argentina depend on whether it can implement economic policies to restore credibility and reduce macroeconomic vulnerabilities.
* An appeals court in Santiago found Banco Santander Chile guilty of violating data protection laws when it improperly disposed documents containing clients' personal information in 2015, Diario Financiero reported. However, the court denied a demand by the plaintiffs for 3 million Chilean pesos in compensation.
* Chilean financial market commission CMF approved Scotiabank Chile's takeover of BBVA Seguros de Vida SA as part of the bank's pending $2.2 billion purchase of Banco Bilbao Vizcaya Argentaria Chile SA, Diario Financiero reported.
* Bank of China Ltd. will launch operations in Argentina with an eye toward financing trade and investments in the South American country, El Cronista reported, citing information from the Argentine embassy in China.
PAN LATIN AMERICA
* Gilson Finkelsztain, the CEO of B3 SA – Brasil, Bolsa, Balcão, said the Brazilian stock exchange operator is interested in acquiring a "small stake" in Argentine national bourse Bolsas y Mercados Argentinos SA, Bloomberg News reported.
IN OTHER PARTS OF THE WORLD
* Asia-Pacific: Malaysia to name central bank head; ICICI Bank responds to reported US SEC probe
* Middle East & Africa: UAE's Waha Capital scraps plans for PE fund; Ghana's GN Bank eyes London
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.
