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dc.creatorAgudelo-Valencia, Maria Ines
dc.creatorGranger-Castaño, Clark
dc.description.abstractAn effective resolution regimen should reduce moral hazard in the banking industry. Countries with the right tools and monetary resources available should be able to handle a systemic financial crisis without recurring to tax payer’s money and minimizing spillovers on the rest of the economy. The Colombian systemic crisis of the late 1990s is a good example to evaluate the way the authorities of the moment used resolution powers in a time when resources were almost non-existent to deal with banks failures. The Colombian literature about it is large, but all refers to the economic consequences and the issues that were behind the negative growth, the (un)sustainability of public debt and the tightening of private consumption and investment. In this paper, we go deep into the legal and institutional framework and to the tools available to take decisions and to resolve the crisis. We found that the authorities were very creative and resourceful and that they set the foundation for a healthy financial system for years to come. However, the lack of an appropriate level of funding and of some instruments, like bridge bank or P&A, could have made the dealings of the crisis more difficult and the resolution of the crisis took more time.
dc.format.extent28 páginas : ilustraciones, gráficas, tablas
dc.publisherBanco de la República de Colombia
dc.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesBorradores de Economía
dc.relation.isversionofBorradores de Economía; No. 1031
dc.rights.accessRightsOpen Access
dc.subjectMarco de resolución
dc.subjectEstabilidad financiera
dc.subjectCrisis bancaria
dc.titlePreparation for a systemic financial crisis in Colombia. Resolution framework, evidence and lessons learned
dc.typeWorking Paper
dc.subject.jelN26 - Financial Markets and Institutions: Latin America; Caribbean
dc.subject.jelH1 - Structure and Scope of Government
dc.subject.jelG28 - Financial Institutions and Services: Government Policy and Regulation
dc.subject.jelG01 - Financial Crises
dc.subject.keywordResolution framework
dc.subject.keywordFinancial stability
dc.subject.keywordBanking crisis
dc.subject.lembBancos -- Colombia -- 1990-1999
dc.subject.lembConsumo (Economía) -- Colombia -- 1990-1999
dc.subject.lembCrisis financiera -- Colombia -- 1990-1999
dc.type.spaDocumentos de trabajo
dc.rights.spaAcceso abierto
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0
dc.subject.jelspaG01 - Crisis financiera
dc.subject.jelspaH1 - Estructura y ámbito del sector público
dc.subject.jelspaN26 - Mercados e instituciones financieras: América Latina; Caribe
dc.subject.jelspaG28 - Instituciones y servicios financieros: Política pública y regulación
dc.type.hasversionPublished Version
dc.source.bibliographicCitationArango, M. (2006). Evolución y crisis del sistema financiero colombiano. Comisión Económica para América Latina y el Caribe - CEPAL. Bogotá.
dc.source.bibliographicCitationArgáez, C. C., & Urrutia, M. (2006). Historia del sector financiero colombiano en el siglo XX: ensayos sobre su desarrollo y sus crisis. Editorial Norma. Bogotá.
dc.source.bibliographicCitationClavijo, S. (2000). Hacia la multibanca en Colombia: Retos y 'retazos' financieros. Banco de la República, Subgerencia de Estudios Económicos. Bogotá.
dc.rights.disclaimerLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
dc.rights.disclaimerThe opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
dc.relation.numberBorrador 1031

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