Developments in Financial Supervision and the Use of Macroprudential Measures in Central America

Mynor Meza and Fernando Delgado

No 2011/299, IMF Working Papers from International Monetary Fund

Abstract: Improvements in financial regulation and supervision in the Central American region (CAPDR) have strengthened financial stability. Prudential instruments with potential macroeconomic effects have been introduced. Nonetheless, compared with the larger Latin American and selected industrial countries, there is still important scope for CAPDR to enhance financial supervision and regulation. Based on two surveys, and the analysis of the Basel Core Principles, the paper determines that some weaknesses exist in risk-based supervision, and that macroprudential measures have scarcely been deployed.

Keywords: WP; CAPDR; BCP compliance index; foreign exchange; BCP assessment; BCP principle; capital; financial regulation; financial supervision; Basel Core Principles; Basel III; macroprudential policy; Central America; Latin America; CAPDR country; financial activity; Risk-based supervision; Macroprudential policy instruments; Consolidated banking supervision; Global (search for similar items in EconPapers)
Pages: 29
Date: 2011-12-01
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Citations: View citations in EconPapers (11)

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