Venezuela’s Central Bank Acting as Custodian of Bonds

Venezuela’s central bank is stepping up oversight of local banks’ bond trading in an effort to slow capital flight, Nelson Merentes, the bank’s president, said.

The central bank on March 30 ordered banks to register their securities within 10 working days and to transfer bonds, whether they’re held abroad or locally, to the Caracas-based institution, which will act as their custodian.