Paraguay - Banking Systems Paraguay - Banking Systems
The financial sector regulated by the Central Bank also includes eleven finance companies dedicated to smaller consumer operations not served by banks. The banking system operates mostly on short- to medium-term credit (twelve months is the usual maximum for commercial transactions, although private financing for vehicles and homes is available on longer terms) in both local and foreign currency.
There is also a large credit union sector in Paraguay, which is self-regulated and does not fall under the purview of the Central Bank. Credit unions could hold as much as one-third of total financial system assets, but their assets are not included in Central Bank data.
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