IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/47420.html
   My bibliography  Save this paper

Operational risk, payments, payment systems, and implementation of Basel II in Latin America : recent developments

Author

Listed:
  • Heinrich, Gregor

Abstract

This is the English version of the annotaded presentation given at XI Encuentro Latinoamericano de Usuarios SWIFT (SWIFT users conference), ELUS 2006, “Creciendo en Competitividad”, Santiago de Chile, 3-5 July 2006. Given the importance of financial intermediation for the economy and the need to have a functioning infrastructure in order to allow for a speedy and safe transmission of information between all players, all states have created special entities that will supervise or oversee the proper functioning of institutions, systems and networks. The text explains first the standard-setting committees, the BCBS and the CPSS. It then highlights some recent developments in the region: the extraordinary increase in the volume and value of transactions over the last years has not only had positive aspects, but, from an operational point of view, is possibly also the source of more risk. This leads to some thoughts on operational risks and steps to mitigate, including "Basel II" and other documents from the Basel Committee that promote a better awareness and management of operational risk.

Suggested Citation

  • Heinrich, Gregor, 2006. "Operational risk, payments, payment systems, and implementation of Basel II in Latin America : recent developments," MPRA Paper 47420, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:47420
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/47420/1/Developments%20in%20Other%20Regions.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kim McPhail, 2003. "Managing Operational Risk in Payment, Clearing, and Settlement Systems," Staff Working Papers 03-2, Bank of Canada.
    2. Heinrich, Gregor, 2006. "International Initiatives towards legal harmonisation in the field of Funds transfers, payments and payment systems - Annotated Bibliography," MPRA Paper 47419, University Library of Munich, Germany.
    3. Paul Miller & Carol Ann Northcott, 2002. "CLS Bank: Managing Foreign Exchange Settlement Risk," Bank of Canada Review, Bank of Canada, vol. 2002(Autumn), pages 13-25.
    4. Paul E. Kellogg, 2003. "Evolving operational risk management for retail payments," Emerging Issues, Federal Reserve Bank of Chicago.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gregor Heinrich, 2006. "Riesgo operacional, pagos, sistemas de pago y aplicación de Basilea II en América Latina: evolución más reciente," Boletín, CEMLA, vol. 0(4), pages 191-204, Octubre-d.
    2. Heinrich, Gregor, 2006. "Determinación de estándares internacionales: Hacia la certidumbre jurídica y la estabilidad financiera. (enlace al documento publicado: http://biblio.juridicas.unam.mx/libros/5/2332/13.pdf) [Intern," MPRA Paper 57492, University Library of Munich, Germany.
    3. Ripatti, Kirsi, 2004. "Central counterparty clearing : constructing a framework for evaluation of risks and benefits," Research Discussion Papers 30/2004, Bank of Finland.
    4. anonymous, 2007. "Nonbanks and risk in retail payments," Payments System Research Working Paper PSR WP 07-02, Federal Reserve Bank of Kansas City.
    5. Ripatti, Kirsi, 2004. "Central counterparty clearing: constructing a framework for evaluation of risks and benefits," Bank of Finland Research Discussion Papers 30/2004, Bank of Finland.
    6. Heinrich, Gregor, 2007. "Central banking in a regional economic setting: Possible contributions to integration," MPRA Paper 47416, University Library of Munich, Germany.
    7. Fischer, Andreas M. & Ranaldo, Angelo, 2011. "Does FOMC news increase global FX trading?," Journal of Banking & Finance, Elsevier, vol. 35(11), pages 2965-2973, November.
    8. Aleksandra Bradic Martinovic, 2011. "Systemic Risks Control Aa a Determinant of Payment Systens Development in WB Countries," Book Chapters, in: Stefan Bogdan Salej & Dejan Eric & Srdjan Redzepagic & Ivan Stosic (ed.), Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union, chapter 26, pages 424-442, Institute of Economic Sciences.
    9. Catharine Lemieux, 2003. "Retail payments innovations and the banking industry," Emerging Issues, Federal Reserve Bank of Chicago.
    10. repec:zbw:bofrdp:2004_030 is not listed on IDEAS
    11. Abdullah Aloqab & Farouk Alobaidi & Bassam Raweh, 2018. "Operational Risk Management in Financial Institutions: An Overview," Business and Economic Research, Macrothink Institute, vol. 8(2), pages 11-32, June.
    12. Li, Fuchun & Perez-Saiz, Hector, 2018. "Measuring systemic risk across financial market infrastructures," Journal of Financial Stability, Elsevier, vol. 34(C), pages 1-11.
    13. Fuchun Li & Héctor Pérez Saiz, 2016. "Measuring Systemic Risk Across Financial Market Infrastructures," Staff Working Papers 16-10, Bank of Canada.
    14. Kirsi Ripatti, 2005. "Central counterparty clearing: constructing a framework for evaluation of risks and benefits," Finance 0508021, University Library of Munich, Germany.
    15. Richard J. Sullivan, 2007. "Risk management and nonbank participation in the U.S. retail payments system," Economic Review, Federal Reserve Bank of Kansas City, vol. 92(Q II), pages 5-40.
    16. Paolo Casini, 2010. "The industrial organization of financial services in developing and developed countries," ULB Institutional Repository 2013/210176, ULB -- Universite Libre de Bruxelles.
    17. Wall, Larry D. & Eisenbeis, Robert A. & Frame, W. Scott, 2005. "Resolving large financial intermediaries: Banks versus housing enterprises," Journal of Financial Stability, Elsevier, vol. 1(3), pages 386-425, April.
    18. Catharine Lemieux, 2003. "Network vulnerabilities and risks in the retail payment system," Emerging Issues, Federal Reserve Bank of Chicago.
    19. Nellie Zhang, 2015. "Changes in Payment Timing in Canada’s Large Value Transfer System," Staff Working Papers 15-20, Bank of Canada.
    20. Richard J. Sullivan, 2006. "The supervisory framework surrounding nonbank participation in the U.S. retail payments system : an overview," Payments System Research Working Paper PSR WP 04-03, Federal Reserve Bank of Kansas City.

    More about this item

    Keywords

    operational risk; payment systems; settlement systems; Basel II; Basel Committee; banking supervistion; CPSS; BCBS; financial infrastructure; Latin America;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:47420. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.