Preparation for a systemic financial crisis in Colombia. Resolution framework, evidence and lessons learned

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dc.audiencePolicymakerseng
dc.audienceResearcherseng
dc.audienceStudentseng
dc.audienceTeacherseng
dc.coverage.sucursalBogotáspa
dc.creatorAgudelo-Valencia, Maria Inesspa
dc.creatorGranger-Castaño, Clarkspa
dc.date.accessioned2017-12-27T08:30:10Zeng
dc.date.available2017-11-27T08:30:10Zspa
dc.date.created2017-12-27spa
dc.date.issued2017-12-27eng
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.eng
dc.format.extent28 páginas : ilustraciones, gráficas, tablasspa
dc.format.mimetypePDFspa
dc.identifier.handlehttps://hdl.handle.net/20.500.12134/6928spa
dc.identifier.urihttps://repositorio.banrep.gov.co/handle/20.500.12134/6928spa
dc.language.isoengeng
dc.publisherBanco de la República de Colombiaspa
dc.relation.doihttps://doi.org/10.32468/be.1031spa
dc.relation.ispartofDocumentos de Trabajoeng
dc.relation.ispartofseriesBorradores de Economíaeng
dc.relation.isversionofBorradores de Economía; No. 1031eng
dc.relation.numberBorrador 1031spa
dc.relation.repechttps://ideas.repec.org/p/bdr/borrec/1031.htmlspa
dc.rights.accessRightsOpen Accesseng
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0eng
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.eng
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.eng
dc.rights.spaAcceso abiertospa
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/eng
dc.source.bibliographicCitationArango, M. (2006). Evolución y crisis del sistema financiero colombiano. Comisión Económica para América Latina y el Caribe - CEPAL. Bogotá.spa
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.spa
dc.source.bibliographicCitationClavijo, S. (2000). Hacia la multibanca en Colombia: Retos y 'retazos' financieros. Banco de la República, Subgerencia de Estudios Económicos. Bogotá.spa
dc.source.handleRepecRePEc:bdr:borrec:1031spa
dc.subjectMarco de resoluciónspa
dc.subjectEstabilidad financieraspa
dc.subjectCrisis bancariaspa
dc.subject.jelN26 - Financial Markets and Institutions: Latin America; Caribbeaneng
dc.subject.jelH1 - Structure and Scope of Governmenteng
dc.subject.jelG28 - Financial Institutions and Services: Government Policy and Regulationeng
dc.subject.jelG01 - Financial Criseseng
dc.subject.jelspaG01 - Crisis financieraspa
dc.subject.jelspaH1 - Estructura y ámbito del sector públicospa
dc.subject.jelspaN26 - Mercados e instituciones financieras: América Latina; Caribespa
dc.subject.jelspaG28 - Instituciones y servicios financieros: Política pública y regulaciónspa
dc.subject.keywordResolution frameworkeng
dc.subject.keywordFinancial stabilityeng
dc.subject.keywordBanking crisiseng
dc.subject.lembBancos -- Colombia -- 1990-1999spa
dc.subject.lembConsumo (Economía) -- Colombia -- 1990-1999spa
dc.subject.lembCrisis financiera -- Colombia -- 1990-1999spa
dc.titlePreparation for a systemic financial crisis in Colombia. Resolution framework, evidence and lessons learnedeng
dc.typeWorking Papereng
dc.type.hasversionPublished Versioneng
dc.type.spaDocumentos de trabajospa

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