Supervision of Financial Conglomerates : The Case of Chile

The author describes the presence of financial conglomerates and assesses the extent to which the risks they introduce to the Chilean financial system are mitigated by existing oversight arrangements (and at what cost). In particular, he questions whether the current silo-based supervisory framework, which has served the system fairly well until now, can continue unchanged given growing inter-linkages in the financial system. The author proposes a high-level short- and medium-term supervisory reform agenda that addresses identified vulnerabilities relating to financial conglomerates and continues the migration from a rules-oriented to a risk-based supervisory approach that has gradually been taking place in Chile in recent years.

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Bibliographic Details
Main Author: Stephanou, Constantinos
Language:English
Published: World Bank, Washington, DC 2005-03
Subjects:ACCOUNTING, AFFILIATES, AFFILIATES/ASSOCIATES, ARBITRAGE, BALANCE SHEET, BANK ASSETS, BANK HOLDING COMPANIES, BANK HOLDING COMPANY, BANK LENDING, BANK SUPERVISION, BANKING LAW, BANKING REGULATION, BANKING SECTOR, BANKING SUPERVISION, BANKING SYSTEM, BANKING/INVESTMENT, BANKING/SECURITIES, BANKS, BANKS/BHCS, BOLSA, BROKERS, CAPITAL ADEQUACY, CAPITAL MARKETS, CAPITAL REQUIREMENTS, CAPITALIZATION, CONNECTED LENDING, CONNECTED LENDING/INVESTMENTS, CONSOLIDATED SUPERVISION, CONSOLIDATION, CONSUMER LOANS, CONSUMER PROTECTION, CONTAGION, CREDIT CARDS, CUSTODY, DEBT, DEBT SECURITIES, DEVELOPED COUNTRIES, DISCLOSURE, EMERGING MARKETS, EQUITY, EQUITY METHOD, EQUITY PARTICIPATION, EQUITY PARTICIPATIONS, EXPOSURE, EXTERNAL AUDITORS, FACTORING, FAILURE RESOLUTION, FINANCIAL ACTIVITIES, FINANCIAL CONGLOMERATES, FINANCIAL INSTITUTIONS, FINANCIAL LEGISLATION, FINANCIAL MARKET, FINANCIAL POLICY, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FINANCIAL STRENGTH, FINANCIAL STRENGTH RATING, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FINANCIAL/REAL ESTATE, FIREWALLS, FIXED ASSETS, FIXED INCOME, FORESTRY, FUNDS MANAGEMENT, INCOME, INCREMENTAL BENEFITS, INSURANCE, INSURANCE COMPANIES, INTANGIBLE ASSETS, INTEGRITY, INVESTMENT BANKING, INVESTMENT OPERATIONS, INVESTMENT REGULATION, INVESTOR PROTECTION, LATIN AMERICAN, LAW/REGULATION, LEASING, LENDING/INVESTMENTS, LIABILITY, LIFE INSURANCE, LINKAGES, MARKET PARTICIPANTS, MIGRATION, MORTGAGES, MUTUAL FUND SHARES, MUTUAL FUNDS, MUTUAL/INVESTMENT, MUTUAL/INVESTMENT FUND, OPEN/BANKING, OTC, OVERSIGHT/MONITORING, PENSION FUNDS, PENSIONS, PRIVATE INFORMATION, PROFITABILITY, PROXY, PRUDENTIAL REGULATIONS, PRUDENTIAL REQUIREMENTS, REAL ESTATE, RESEARCH AGENDA, RISK MANAGEMENT, SECURITIES, SECURITIES FIRMS, SECURITIES MARKETS, SECURITIES OPERATIONS, SECURITIZATION, SHAREHOLDERS, SHAREHOLDINGS, SOCIAL COSTS, STOCK BROKERS, SUBSIDIARIES, SUBSIDIARY, SUPERVISORY FRAMEWORK, SYSTEMIC RISK, TECHNICAL ASSISTANCE, TRANSPARENCY, TRANSPORT,
Online Access:http://documents.worldbank.org/curated/en/2005/03/5711357/supervision-financial-conglomerates-case-chile
https://hdl.handle.net/10986/8966
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