Fobaproa the FONAPRE ("Fondo de Apoyo Preventivo a las Institiciones de Banca Múltiple" or "Fund of preventive support to banking institutions") was founded to preserve the financial stability of banks, with the government having banks as trustees. By 1987, a parallel finance industry had been created with brokering firms, investment societies etc. To continue attracting investors, interest rates increased at the Bolsa Mexicana de Valores, and with the crash in the New York Stock Exchange, the national banking system was deeply affected and another devaluation came as a result. In 1990, in an attempt to prevent situations similar to those of
Bolsa de Valores de la República Dominicana was originally known as the "Bolsa de Valores de Santo Domingo Inc". In 1997, as a result of the fact that its activities extended into other cities of the country, it changed its name to "Bolsa de Valores de la República Dominicana". This means that the market is still relatively new, and the concept of both an equity and capital market is just coming into consciousness. Despite the limitations resulting from inadequate legislation, transactions at the BVRD grew steadily during the 1990s. There are twenty brokerage houses registered at the BVRD. Thirteen belong to financial groups and only seven are