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

Author

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  • Edgardo Demaestri
  • Jorge Ottavianelli
  • Gustavo Ferro

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

Suggested Citation

  • Edgardo Demaestri & Jorge Ottavianelli & Gustavo Ferro, 2015. "Integracion de la supervisión financiera en el Banco Central: La experiencia de Uruguay," Estudios Economicos, Universidad Nacional del Sur, Departamento de Economia, vol. 32(64), pages 31-51, january-j.
    • Handle: RePEc:uns:esteco:v:32:y:2015:i:64:p:31-51
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    File URL: http://revistas.uns.edu.ar/ee/article/view/736/414
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    supervisión financiera integrada; regulación micro-prudencial; regulación macro-prudencial; Uruguay;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • L5 - Industrial Organization - - Regulation and Industrial Policy

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