Brazil: Financial System Stability Assessment
International Monetary Fund, Jul 31, 2012 - Business & Economics - 64 pages
The paper discusses the stability of Brazil's financial system, which is diversified and shows sustained economic progress. Fiscal and monetary policies have been aimed to improve bank reserves, and foreign exchange intervention has been streamlined to curb volatility in the exchange market. These measures have been effective in achieving the immediate targets, maintaining macroeconomic stability, and ensuring adequate financial sector buffers. However, there are indications of emerging strains in some sectors and asset classes.
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accounting assessment assets authorities Bank Bank Bank banking supervision banking system BCB’s BNDES Brazil Brazilian banking brokers capital adequacy capital inﬂows Capital Markets capital requirements CNSP commodity compliance conﬂict consumer COREMEC corporate governance countercyclical credit growth credit risk cross-border default deposit disclosure economy effective ensure enterprise risk management entity exposures external debt ﬁnancial financial institutions financial sector Financial Stability financial system ﬂow foreign exchange framework FSAP global financial crisis Household Debt impact implementation improved income inﬂation insurance supervision interest rates internal controls international standards investment issued Large banks legal protection liabilities limited loans macroeconomic macroprudential market liquidity market risk microinsurance mitigate monitoring mutual funds operational pension percent portfolio ratio recommended reﬂecting regulation regulatory reinsurance resolution responsibility scenario shock Small banks staff strengthened stress tests supervisory SUSEP shou systemic risk tier 1 capital transactions transparency