Systemic Oversight Frameworks in LAC : Current Practices and Reform Agenda

Gutierrez, Eva; Caraballo, Patricia

dc.creator	Gutierrez, Eva
dc.creator	Caraballo, Patricia
dc.date	2012-03-19T17:28:36Z
dc.date	2012-03-19T17:28:36Z
dc.date	2012-01-01
dc.date.accessioned	2023-02-17T20:49:24Z
dc.date.available	2023-02-17T20:49:24Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120110091522
dc.identifier	http://hdl.handle.net/10986/3226
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243582
dc.description	The world financial crisis that started in the US housing market in 2008 brought into evidence deep failures of prudential oversight, linked for the most part to a failure to comprehend and handle systemic risk in a way that could prevent systemic crises. This paper summarizes the responses to the joint World Bank -ASBA survey o the state of systemic oversight in the Latin American and Caribbean financial sectors and reflects on some of the challenges identified by respondents. We found that there is broad consensus among regional financial authorities on the need to enhance the current systemic oversight framework. Improving consolidated supervision to mitigate risk-shifting in conglomerates, adjusting prudential regulations to account for the accumulation of systemic risks, redefining the role of the supervisor to make it more proactive, and improving coordination among local supervisors as well as with foreign supervisors figure preeminently in the regional reform agenda.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5941
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCESS TO LENDER
dc.subject	ACCOUNTABILITY
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING FRAMEWORK
dc.subject	AGGREGATE DEMAND
dc.subject	ARBITRAGE
dc.subject	ASSET PRICE
dc.subject	ASSETS
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK LOANS
dc.subject	BANK SUPERVISORS
dc.subject	BANKING SECTOR
dc.subject	BANKING SUPERVISION
dc.subject	BANKS
dc.subject	BROKERAGE
dc.subject	BROKERAGE HOUSES
dc.subject	BUFFERS
dc.subject	CAPACITY BUILDING
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL ADEQUACY RATIOS
dc.subject	CAPITAL CONTROLS
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL MARKETS
dc.subject	CAPITAL REQUIREMENT
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CENTRAL BANK
dc.subject	CENTRAL BANK FACILITIES
dc.subject	CENTRAL BANKS
dc.subject	CIVIL CODE
dc.subject	CLEARING HOUSE
dc.subject	COLLATERAL
dc.subject	COMMERCIAL BANKS
dc.subject	CONSOLIDATED SUPERVISION
dc.subject	CONTINGENCY PLANNING
dc.subject	CONTINGENT LIABILITIES
dc.subject	CORPORATE DEFAULT
dc.subject	CORPORATE DEFAULTS
dc.subject	CORPORATE GOVERNANCE
dc.subject	CREDIT CARD
dc.subject	CREDIT COOPERATIVES
dc.subject	CREDIT CRUNCH
dc.subject	CREDIT GROWTH
dc.subject	CREDIT MARKETS
dc.subject	CREDIT RISK
dc.subject	CROSS-BORDER ISSUES
dc.subject	CURRENCY
dc.subject	DEFAULTS
dc.subject	DEPOSIT
dc.subject	DEPOSIT INSURANCE
dc.subject	DEPOSIT INSURANCE SCHEMES
dc.subject	DEPOSITS
dc.subject	DERIVATIVE
dc.subject	DERIVATIVE MARKETS
dc.subject	DERIVATIVES
dc.subject	DERIVATIVES MARKETS
dc.subject	DIRECT ACCESS
dc.subject	DOMESTIC BANK
dc.subject	DOMESTIC LIQUIDITY
dc.subject	EMPLOYMENT
dc.subject	EXCESS LIQUIDITY
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATE FLUCTUATIONS
dc.subject	EXCHANGE RATE VOLATILITY
dc.subject	EXPOSURE
dc.subject	EXTERNAL SHOCKS
dc.subject	FACTORING
dc.subject	FINANCE COMPANIES
dc.subject	FINANCIAL AUTHORITIES
dc.subject	FINANCIAL CONGLOMERATES
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL DEVELOPMENT
dc.subject	FINANCIAL INNOVATION
dc.subject	FINANCIAL INSTABILITY
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INTERMEDIARIES
dc.subject	FINANCIAL INTERMEDIARY
dc.subject	FINANCIAL INTERMEDIATION
dc.subject	FINANCIAL LIABILITIES
dc.subject	FINANCIAL PRODUCTS
dc.subject	FINANCIAL REGULATION
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SECTOR STABILITY
dc.subject	FINANCIAL SECTORS
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL SYSTEM
dc.subject	FINANCIAL SYSTEM STABILITY
dc.subject	FINANCIAL SYSTEMS
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN LIABILITIES
dc.subject	FUND MANAGEMENT
dc.subject	FUND MANAGERS
dc.subject	GLOBAL INTEGRATION
dc.subject	HEDGE FUNDS
dc.subject	HOLDING
dc.subject	HOLDING COMPANIES
dc.subject	HOLDING COMPANY
dc.subject	HOLDINGS
dc.subject	HOUSING
dc.subject	HOUSING PRICES
dc.subject	HUMAN CAPITAL
dc.subject	ILLIQUIDITY
dc.subject	INFORMATION SHARING
dc.subject	INSTITUTIONAL REFORM
dc.subject	INSTITUTIONAL REFORMS
dc.subject	INSTRUMENT
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INSURANCE POLICY
dc.subject	INSURANCE PREMIUM
dc.subject	INSURED DEPOSITS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE POLICY
dc.subject	INTEREST RATES
dc.subject	INTERNAL CONTROLS
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BEST PRACTICES
dc.subject	INTERNATIONAL RESERVES
dc.subject	INTERNATIONAL STANDARDS
dc.subject	INVESTMENT BANKING
dc.subject	INVESTMENT BANKS
dc.subject	INVESTMENT FUND
dc.subject	INVESTMENT FUNDS
dc.subject	INVESTMENT VEHICLES
dc.subject	JURISDICTIONS
dc.subject	KEY CHALLENGE
dc.subject	LAWS
dc.subject	LEGAL FRAMEWORK
dc.subject	LEGAL PROTECTION
dc.subject	LEGAL REFORMS
dc.subject	LENDER
dc.subject	LENDER OF LAST RESORT
dc.subject	LENDING INSTITUTIONS
dc.subject	LENDING REQUIREMENTS
dc.subject	LEVERAGE
dc.subject	LIABILITY
dc.subject	LIABILITY BASE
dc.subject	LIQUIDITY RATIOS
dc.subject	LIQUIDITY REQUIREMENT
dc.subject	LIQUIDITY REQUIREMENTS
dc.subject	LIQUIDITY RISK
dc.subject	LIQUIDITY RISKS
dc.subject	LOAN
dc.subject	MANDATES
dc.subject	MARK-TO-MARKET
dc.subject	MARKET DATA
dc.subject	MARKET DEVELOPMENTS
dc.subject	MARKET DISCIPLINE
dc.subject	MARKET PRICE
dc.subject	MARKET RATES
dc.subject	MATURITY
dc.subject	MERCHANT
dc.subject	MERCHANT BANKING
dc.subject	MICROFINANCE
dc.subject	MICROFINANCE INSTITUTIONS
dc.subject	MONETARY AUTHORITIES
dc.subject	MONETARY AUTHORITY
dc.subject	MONETARY POLICY
dc.subject	MONEY MARKET
dc.subject	MORAL HAZARD
dc.subject	MUTUAL FUND
dc.subject	MUTUAL FUNDS
dc.subject	OFFSHORE BANKS
dc.subject	OPEN ECONOMY
dc.subject	OPERATIONAL INDEPENDENCE
dc.subject	PENSION
dc.subject	PENSION FUND
dc.subject	PENSION FUNDS
dc.subject	PENSIONS
dc.subject	POLICY RESPONSE
dc.subject	PRICE INDICES
dc.subject	PRIVATE SECTOR DEVELOPMENT
dc.subject	PRUDENTIAL REGULATION
dc.subject	PRUDENTIAL REGULATIONS
dc.subject	PRUDENTIAL REQUIREMENTS
dc.subject	PUBLIC UTILITY
dc.subject	QUOTAS
dc.subject	RATING AGENCIES
dc.subject	REAL ESTATE
dc.subject	REAL SECTOR
dc.subject	REDEMPTION
dc.subject	REFORM PROGRAM
dc.subject	REGULATORY BODIES
dc.subject	REGULATORY CAPACITY
dc.subject	REGULATORY FRAMEWORK
dc.subject	REGULATORY REFORMS
dc.subject	REMITTANCES
dc.subject	REPOS
dc.subject	RESERVE
dc.subject	RESERVE REQUIREMENTS
dc.subject	RISK FACTORS
dc.subject	RISK MANAGEMENT
dc.subject	RISK PROFILE
dc.subject	RISK PROFILES
dc.subject	SAFETY NET
dc.subject	SECURITIES
dc.subject	SMALL COUNTRIES
dc.subject	SOLVENCY
dc.subject	STOCK TRADING
dc.subject	SUBSIDIARIES
dc.subject	SUPERVISORY AGENCIES
dc.subject	SUPERVISORY AGENCY
dc.subject	SUPERVISORY POWERS
dc.subject	SURCHARGES
dc.subject	SYSTEMIC CRISES
dc.subject	SYSTEMIC RISK
dc.subject	SYSTEMIC RISKS
dc.subject	TRANSPARENCY
dc.subject	UNDERDEVELOPED CAPITAL MARKETS
dc.subject	UNIVERSAL BANKING
dc.subject	UNIVERSAL BANKS
dc.subject	VOLATILITY
dc.title	Systemic Oversight Frameworks in LAC : Current Practices and Reform Agenda
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	Latin America & Caribbean
dc.coverage	Caribbean
dc.coverage	Latin America