Markets

The service Currency Swapping (CAF, in Spanish) service was launched in October 2009, offering SINPE members a speedy mechanism to place their cash surpluses, through access to financial instruments that may be structured according to each participant’s specific needs.

• Record of investments so they may be constituted in real time. 
• Investment scheduling -Investments are constituted on a future date specified by the investor. 
• Investment transfer-An investment may be transferred from its holder to another SINPE member.
• Investment renewal- An investment may be automatically renewed on its due date for the same term as the original investment.
• Inquiries about current and overdue investments.
• Inquiries about projected estimation of interest and taxes.
• Liquidation of overdue investments -Overdue investments are liquidated at 12:00 am on their due date. 

• Fund movements are applied directly to the account each participant has with the Banco Central de Costa Rica.
• Financial entities are offered a safe, efficient option for investing their cash surpluses.
• The CAF service may be accessed from any geographical zone where a participant may be, using SINPE’s connectivity platform. 

Constitution of operations - In real time, from 7:00 a.m.-6:00 p.m. Entities that are not bound by reserve requirements may constitute their operations at any time of the day, only on working days. Investments are scheduled and renewed at 12:00 am on the date indicated as the value date.

Liquidation of operations on due date - At 12:00 am of the date agreed as the due date (always on a working day.)