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Brazil's central bank approves 8B reais capital hike at Bradesco

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Brazil's central bank approves 8B reais capital hike at Bradesco

* Banco BradescoSA said it received approval from Banco Central do Brasil for a planned 8.00 billion Brazilianreais capitalraise, Reuters reported. The share offering will boost shareholders' equityto 51.1 billion reais from 43.1 billion reais. Participating shareholders of recordas of April 15 will receive a bonus of 1 new share for every 10 shares of the sametype they already hold.

MEXICO AND CENTRAL AMERICA

* Moody's de México took various ratings on Mexican financial institutionsfollowing the change of the outlook on the country's A3 government bond rating tonegative. The rating agency also revised Mexico's macro profile to Moderate + fromStrong -, the impact of which will be considered on banks' financial profiles.

* Mexican banking and securities commission CNBV said in a quarterlyreport that 203 of the 216 companies listed on the local stock exchange have a goodrecord of complying with reporting requirements,El Financiero reported. However, the regulatornoted that its statement should not be taken as an endorsement of the accuracy ofthe companies' disclosures.

* Mexican citizens have about $417.0 billion of depositsin offshore tax havens, more than double the amount of Banco de México's international reserves, El Economista reported, citing the country'stax regulator. Aristóteles Núñez, the head of Mexican tax authority SAT, said followingthe leakage of the "Panama Papers" that it is legal for Mexicans to holdfunds abroad, but failing to declare them is illegal,El Financiero reported.

* Jorge Arturo Arce Gama, the former chairman of ,has joinedGrupo Financiero Santander MexicoSAB de CV as the company's deputy general manager of global corporatebanking, El Economista reported.

* Mexico's new interbank payment system called SPID, which wasannounced by the central bank in March, has become operational,El Economista reported.

* All Bank CEO Daniel Oblitas said the lender will focus on consolidatingits operations in Panama during 2016, CapitalFinanciero reported. The bank has created a management company to handle itsbanking business outside of Panama in order to grow its number of clients, the executivenoted.

* Grupo FinancieroInteracciones SA de CV plans to issue a certificate of capital developmentbefore the end of the first half to raisebetween 3 billion and 5 billion Mexican pesos, El Economista reported, citing CEO Carlos Rojo. The bank will use thefunds to finance infrastructure projects in various sectors, including energy.

CARIBBEAN

* Puerto Rican legislators scrambled on April 4 to draftan emergency billto save the Government DevelopmentBank for Puerto Rico from entering receivership, Reuters reported. Thebank's creditors have suedit to prevent the company from making what they call "preferential transfers,"the newswire reported separately.

BRAZIL

* André Gregori, a former partner at BTG Pactual Group, and a group of other investors are preparinga 100 million Brazilian reais investmentin a new insurance company that will focus on selling policies online, CQCS reported,citing Agência Estado's Broadcast news service. The new insurer is expected to beginoperating in the second half.

* Brazilian Attorney General Jose Eduardo Cardozo urged membersof Congress to reject an impeachmentrequest against President Dilma Rousseff, Reuters reported. "The impeachmentprocess was compromised from the start and as such it is invalid," Cardozosaid.

* A study by credit research firm Boa Vista SCPC shows that unemploymentwas the primary cause of loandefaults among Brazilian consumers in the first quarter of 2016, Diário Comércio Indústria & Serviçosreported. A decline in income was the second most significant cause of defaults.

ANDEAN

* The International Bank for Reconstruction and Development,an arm of the World Bank, grantedtwo contingent loans worth $1.25 billion each to Peru, Gestión reported.

* Colombian banking association Asobancaria loweredits 2016 GDP growth estimate for the country to 2.3% from 2.6%, citing higher levelsof inflation, interest rates and unemployment, Portafolio reported.

SOUTHERN CONE

* In February, Chilean banks reported 91,756 inactive accountswith a total balance of45 billion Chilean pesos, of which around 40 billion pesos is in the local currencyand the rest is in U.S. dollars and other foreign currencies, banking regulatorSBIF said.

* Argentine tax authority AFIP said the country's tax revenuesincreased 30.7% year over year in March to about 137.76 billion Argentine pesos,Reuters reported.

* Chile's government will release a draftof the country's new general banking law during the Chile Day investor event inLondon on May 12 and May 13, Diario Financieroreported.

PAN LATIN AMERICA

* The 10 banks that requested the highest number of offshorecompanies from Panama-based law firm Mossack Fonseca are all European, accordingto a report from the InternationalConsortium of Investigative Journalists, which is one of the organizations withdirect access to more than 11.5 million leaked files. The "Panama Papers"also reportedly namepoliticians from several Brazilian parties as clients of Mossack Fonseca. Brazil'stax authority told Reuters that it could levy fineson undeclared assets in offshore accounts of up to 150% of their value after confirmingthe leaked data.

* Standard & Poor's Ratings Services said it expects M&Aactivity in the global insurance industry to continue in 2016, but at a slower pacethan in the previous year. The insurance industry was a very active participantin the M&A wave of 2015, accounting for nearly $150 billion, according to therating agency.

IN OTHER PARTS OF THEWORLD

* The Vietnamese central bank allowed to open a branchin Yangon, Myanmar, Viet Nam News reported.The branch will have a charter capital of US$85 million.

* ASEAN finance officials agreed to recognize two qualified ASEAN banks in thenext three years, The Nikkei reported.The timeframe also calls for 10 member countries sharing bond market disclosuresand a framework for retail investors to buy government bonds by 2025.

* An Australian Senate committee questioned Deputy CEO Graham Hodges over the bank's role in a financial scandalinvolving Malaysia's sovereign wealth fund 1Malaysia Development Bhd., The Australian reported. The executive admittedthat ANZ has governance questions in connection with the scandal.

* Fourteen asset managers, including PIMCO, BlackRock Inc., PioneerInvestment Management Inc. and TwentyFour Asset Management LLP, are suing Portugal'scentral bank over lossessustained by the transfer of certain senior Novo Banco SA bonds to its bad bank,the FT reports.

* Sky News reports Morgan Stanley, Wells Fargo & Co. andMitsubishi UFJ Financial Group Inc. so far are funding Intercontinental Exchange Inc.'s plan to outbid DeutscheBörse AG for London Stock Exchange Group Plc. Bloomberg Business had earlier reportedICE was working with Morgan Stanley and Moelis & Co.

S&P Ratings and GlobalMarket Intelligence are owned by McGraw Hill Financial Inc.

Paula Mejia contributedto this article.

The Daily Dose has an editorialdeadline 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.