* The ABCB, Brazil's association of cryptocurrencies and blockchain, has filed a motion with antitrust watchdog Cade asking it to forbid banks from closing the accounts of cryptocurrency companies, Folha de S.Paulo reported. The request reportedly stems from a case where Banco do Brasil SA closed a bank account of startup company Atlas, which operates with bitcoin.
* Chile's TDLC competition tribunal has ordered Banco de Chile and Banco del Estado de Chile to reopen the bank accounts of cryptocurrency trader Orionx, Diario Financiero reported. The order follows Orionx filing a lawsuit against six leading banks for allegedly excluding the company from the digital payment market.
MEXICO AND CENTRAL AMERICA
* S&P Global Ratings revised its outlook on Nicaragua to negative from stable, citing the country's ongoing political unrest. Protests against the government started in April over plans to reform the country's pension system. Although the plan has been canceled, political tensions remain high as protesters seek justice for those who died during the protests and demand democratic reforms.
* Financiera Independencia SAB de CV said Francisco Villagómez del Torno will step down as the company's chief financial and administration officer on July 15. He will be replaced by José María Cid Michavila, who was previously CFO of Procursum Medical.
* Andres Manuel Lopez Obrador, the frontrunner in Mexico's presidential race, said he hopes to reach a deal with U.S. President Donald Trump to block illegal immigration through job creation and development as opposed to a border wall, Reuters reported.
* Mexican Economy Minister Ildefonso Guajardo said ongoing talks to revamp the NAFTA trade pact can only be successful if the three countries involved have "sufficient flexibility" to find common ground, Reuters reported. There is a "high chance" that trade negotiators will reach an agreement, but the timing will depend on how flexible they can be, he said.
* Tropical Storm Bud strengthened into a Category 1 hurricane on June 10 around 254 miles west of Mexico's Pacific coast, Reuters reported, citing the country's weather service. The U.S. National Hurricane Center said Bud would start to wane late on June 12 or early on June 13.
* Banks in Panama have slowly started adopting blockchain technology after recognizing its potential advantages, although some lenders are still hesitant, El Capital Financiero reported, citing Carlos Berguido, executive vice president of local banking association ABP.
* Popular Valores Puesto de Bolsa SA said Juan Francisco Rodríguez Fernández has resigned as general manager and will be replaced by Mónica Ulate Murillo on an interim basis.
BRAZIL
* Fitch Ratings removed Banco Original SA's ratings from Rating Watch Negative and assigned a negative outlook on the bank's B+ long-term foreign and local currency issuer default ratings and BBB(bra) long-term national rating. Fitch said the bank's refinancing risks have reduced significantly, although potential contagion risks from ongoing investigations into sister company JBS SA still linger.
* Banco do Estado de Sergipe SA said its shareholders approved a payment of interest on own capital, related to the first half of 2018, of about 10.3 million reais. The payment corresponds to a net amount of 54.52 centavos per common share and 59.97 centavos per preferred share.
* The Brazilian real rose more than 5% on June 8 after the central bank vowed to pump foreign-exchange swaps into the market, Bloomberg News reported.
* Brazilian central bank chief Ilan Goldfajn said financial technology firms are "very important" for the country's financial system in terms of generating more competition and fostering technological innovations, Valor Econômico reported.
* The number of requests for judicial recovery in Brazil increased 30% year over year in the period from January to April, O Globo reported, citing data from credit research firm Serasa Experian.
ANDEAN
* Leasing Total SA said it plans to offer bonds worth $3.9 million on June 13. The series B notes will carry a term of four years and will be issued as part of the company's $80.0 million bond program.
* Bancompartir SA said in a regulatory notice that its issuance of 5,784,000 common shares, for a par value of 1,000 Colombian pesos, has been authorized.
* Speaking at an economic conference, Colombian central bank board member Juan Pablo Zarate said the bank expects the country's GDP to expand 2.7% in 2018 amid signs of recovering internal demand, Reuters reported. "Colombia in the main scenario will have a moderate recovery," he said. "There are two sick sectors right now — mining and construction."
SOUTHERN CONE
* Argentina's $50 billion standby arrangement with the International Monetary Fund lessens the government's funding risks and will aid in fiscal consolidation, said Gabriel Torres, vice president and senior credit officer at Moody's. The IMF's conditions that require greater central bank autonomy and the end of ongoing Treasury funding will also help in controlling inflation, Torres said. IMF Western Hemisphere Director Alejandro Werner said Argentina could revise fiscal targets that were set as part of the financing deal "in case there is a need to increase social spending," Reuters reported.
* Andrés Borenstein, an economist at Brazil's Banco BTG Pactual SA, said there is a "good chance" of Argentina falling into a technical recession in 2018 given the country's high borrowing costs, low real wages, and political uncertainty, the Financial Times reported. Borenstein still forecasts overall 2018 GDP growth of 1.3% for Argentina.
* In order to meet fiscal deficit targets that have been set as part of a financing agreement with the IMF, Argentine President Mauricio Macri is preparing a plan to reduce the number of senior positions at around 86 public agencies by 25%, La Nación reported.
* Asia-Pacific: Dai-ichi Life top contender for Suncorp life ops; ICICI Bank faces US scrutiny
* Middle East & Africa: Commercial Bank ends United Arab Bank stake sale talks; Moody's downgrades Gabon
* Europe: Swiss voters reject banking reform; UK FCA goes ahead with disputed listing rule
* Global Markets: New York markets pre-open: Stocks shrug off G7 trade friction; US yields rise
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.
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