Integracion de la supervisión financiera en el Banco Central: La experiencia de Uruguay

Edgardo Demaestri (), Jorge Ottavianelli () and Gustavo Ferro

Estudios Economicos, 2015, vol. 032 (Nueva Serie), issue 64, 31-51

Abstract: We analyze the Uruguayan experience of unifying financial supervision in one regulatory body into the Central Bank in Uruguay. An integrated regulator can be situated inside the Central Bank, or as a separate institution. Being established inside the Central Bank, it has the potential of achieving economies of scale and scope, improving informative flows, and yielding a prudential bias to regulation. We analyze the experience of the integration of financial regulation and supervision in Uruguay into its Central Bank, including the consideration of the pros and cons of the process. We also study the consequences of macro-prudential functions to face a financial crisis. Finally, we identify lessons arising from this experience

Keywords: supervisión financiera integrada; regulación micro-prudencial; regulación macro-prudencial; Uruguay; integrated financial supervision; micro-prudential regulation (search for similar items in EconPapers)
JEL-codes: G2 L5 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:uns:esteco:v:32:y:2015:i:64:p:31-51

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