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Peru seeks Agrobanco absorption; CEO successor seen in Banco do Brasil shakeup

* The Peruvian government has sent to Congress a bill proposing the absorption of Banco Agropecuario by a new financial entity to be called Mi Agro, with the latter inheriting all assets and liabilities of the former, El Comercio reported. Mi Agro will be managed as a second-tier bank, according to Council of Ministers' President César Villanueva and Agriculture and Irrigation Minister Gustavo Mostajo.

* Banco do Brasil SA's management reshuffle earlier in the week could include a possible successor for CEO Paulo Caffarelli, according to a Valor Econômico report. Citing a source with links to the bank, the newspaper pointed to Gueitiro Matsuo Genso as a potential lead candidate to become the bank's next CEO. It was previously announced that Genso will become Banco do Brasil's vice chairman of retail distribution and personnel management, moving from his current role as head of the bank's PREVI pension fund.

MEXICO AND CENTRAL AMERICA

* Members of Banco de México's board agree that an increasingly adverse economic scenario could affect the convergence of inflation to its 3% target in 2018, minutes from the central bank's last monetary policy meeting show. While inflation has declined during the year, the depreciation of the Mexican peso, gas prices and U.S. tariffs imposed on the country could slow down the fall of inflation, the regulator warned.

* Mexico's incoming president, Andrés Manuel López Obrador, will inherit the previous administration's challenge with regard to increasingly low levels of insurance penetration in the country, Moody's analyst Francisco Urióstegui told El Economista. With current insurance penetration equivalent to 2.2% of GDP, Mexico has one of the lowest levels among OECD member-countries.

* Mexico's fintech law will be regularly evaluated by the next government to ensure it is helping meet wider goals such as increased banking access in rural areas, El Economista reported, citing Treasury secretary-designate, Carlos Urzúa. The first round of secondary regulation stemming from the law is due to be published in September.

BRAZIL

* The Brazilian Supreme Court temporarily removed Helton Yomura from his post of labor minister in connection to a corruption investigation, Reuters reported.

* A group of banks being investigated by Brazil's Cade competition watchdog for possible cartel behavior in the foreign exchange market are negotiating a compromise deal with the watchdog that will likely involve the payment of hefty fines, Diário Comércio Indústria & Serviços reported, citing an Estadão report. Meanwhile, dozens of export companies filed suits against the banks allegedly involved in manipulating dollar prices in their dealings with exporters, claiming losses estimated at 50 billion reais.

* Banco do Estado do Rio Grande do Sul SA canceled a planned initial public offering of its card unit, Banrisul Cartões SA, due to current market conditions, Reuters reported. The bank added that it would maintain its application for Banrisul Cartões to be registered as a public company.

* Brazilian savings deposits registered net inflows of 7.35 billion reais in the first half of 2018, the first positive first semester since 2014, Diário Comércio Indústria & Serviços reported, citing central bank data.

* The percentage of Brazilian households with debts fell to 58.6% in June from 59.1% in May, Diário Comércio Indústria & Serviços reported, citing the latest Peic consumer debt survey conducted by the CNC trade and services confederation.

ANDEAN

* Banco de Crédito del Perú on July 6 plans to auction three-year corporate bonds totaling up to 50 million soles but expandable to 100 million soles. The interest rate for the series A bonds, which will be issued July 9, will be determined during the auction.

SOUTHERN CONE

* The legislature of the Argentine province of Tucumán has authorized Banco Macro SA to purchase the provincial government's 10.00% stake in Banco del Tucumán SA, and likewise allowed the continuity of Banco del Tucumán as financial agent of the province for another 10 years from the maturity contract date, as well as the possibility to merge both entities.

* Argentina's FCA Compañía Financiera SA postponed its July 5 auction of its class XVI bonds, without specifying a reason. FCA did say it would announce a new date at the earliest opportunity.

* Chile's Banco de Credito e Inversiones SA revealed a new corporate slogan and branding campaign aimed at highlighting close relationships with customers and its difference from competitors, La Tercera reported, citing General Manager Eugenio Von Chrismar.

* Scotiabank Chile will adopt the name Scotiabank Azul as a transition name during its merger with Banco Bilbao Vizcaya Argentaria Chile SA, Diario Financiero reported. It said a shareholder meeting would be held on Monday to renew the board of directors at the former unit of Spain's Banco Bilbao Vizcaya Argentaria SA.

PAN LATIN AMERICA

* A sharp jump in interest rates after a prolonged period of ultra-loose monetary policy could trigger solvency and liquidity problems at insurers and pension funds, and any resulting distress or failures could affect the wider economy, the Bank for International Settlements said.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: Credit Suisse fined in Asia-Pacific hiring probe; Hong Kong's PAG to enter India

* Middle East & Africa: Abraaj-Colony Capital deal in question; Waha Capital plans hiring spree

* Europe: Irish banks told to hold more capital; Credit Suisse fined; Barclays buying NPLs

Helen Popper 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.