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I need help from a Mexican colleague - what does Fobaproa mean?

English translation: Fondo Bancario de Proteccion al Ahorro

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21:51 Aug 30, 2000
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: I need help from a Mexican colleague - what does Fobaproa mean?
In translating an analysis of the Mexican economy, I ran over the following sentence:
The domestic bank credit, which has been contracting in real terms since 1995, currently stands at a low 25% of GDP (13% of GDP excluding the Fobaproa-related portfolio).
I supose that "Fobaproa" is a kind of governmental program, and I would be grateful if anyone would be kind enough to explain what "Fobaproa" stands for.

Gracias

Márcio
Mrcio
English translation:Fondo Bancario de Proteccion al Ahorro
Explanation:
This is a fund created by the government to rescue or assist commercial banks....

I found lots of pages in this subject, but here are 2 you can look at:

http://www.demoxcambio.org.mx/articulos/varios/Fobaproa.htm

http://www.geocities.com/CapitolHill/Lobby?3075/militante_76...
Selected response from:

Maria
Local time: 18:21
Grading comment
Thanks a million, Maria. If you need any help in Brazilian matters, don't hesitate in contacting me.

Márcio.
4 KudoZ points were awarded for this answer

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Summary of answers provided
naFondo Bancario de Proteccion al Ahorro
Maria


  

Answers


17 mins
Fondo Bancario de Proteccion al Ahorro


Explanation:
This is a fund created by the government to rescue or assist commercial banks....

I found lots of pages in this subject, but here are 2 you can look at:

http://www.demoxcambio.org.mx/articulos/varios/Fobaproa.htm

http://www.geocities.com/CapitolHill/Lobby?3075/militante_76...

Maria
Local time: 18:21
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 920
Grading comment
Thanks a million, Maria. If you need any help in Brazilian matters, don't hesitate in contacting me.

Márcio.

Peer comments on this answer (and responses from the answerer)
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Heathcliff
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