Banco Ciudad bill cleared for debate

The Lower House’s Justice and Finance committees yesterday cleared for debate a bill that will move court deposits from Banco Ciudad to Banco Nación.

According to the bill only the deposits made after its approval will be moved. With the backing of the ruling party Victory Front, a total of 28 lawmakers cleared the bill for debate. The bill sponsored by Kirchnerite Deputy Diana Conti, establishes that “depending on the case, the money, titles and securities seized must be deposited in the Banco Nación.” Banco Ciudad employees (photo) demonstrated outside Congress against the bill, claiming it will harm the bank’s capacity in the future to offer mortgages and other loans in Buenos Aires City.

Conti said that “Banco Ciudad workers think that the bank could be privatized, because that’s the policy of the mayor (Mauricio Macri) and maybe they are using this argument of the court deposits as an excuse to privatize.”

— Herald with DyN