Financial regulation is normally imposed in reaction to some prior crisis, rather than founded on theoretical principle. In the past, regulation has been deployed to improve risk management practices in individual banks. This was misguided. Instead, regulation should focus first on systemic...

English Abstract: The COVID-19 crisis has elicited an immediate and forceful economic policy response. With the height of the crisis behind us, the Governor has set out priority economic measures for the post-lockdown phase. He calls for the urgent launch of an ambitious, comprehensive,...

English Abstract: In his testimony, the Governor’s analysis of the impartiality and autonomy of independent economic authorities contributes to the Committee’s review of the “measures needed to strengthen the impartiality and independence of independent authorities and regulatory...

The Peruvian financial system is highly dollarized with more than 50 per cent of deposits held in dollars. The structure and operation of the payment system reflect this financial dollarization. Not only does it settle payments in local and foreign currency, but the Intraday Financial Facility...

Spanish Abstract: En Colombia ha surgido una política con el acto legislativo no. 4 del 2007, donde se otorga un dinero extra para los municipios con menos de 25.000 habitantes por medio del SGP, al rubro de participación de propósito general. Este ingreso se distribuye por conceptos de...