Brazil: Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, July 31, 2012
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- Brazil: Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: July 31, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475506730.002
Summary
- This report is a detailed assessment of Brazil’s compliance with the Basel Core Principles.
- Brazil has a well-defined banking supervision process that grants the Banco Central do Brasil (BCB) broad enforcement powers to carry out corrective actions.
- The licensing process has been enhanced.
- Considerable improvements have been implemented with regards to debt collection by the BCB.
- The authorities have adopted strategies to improve compliance measures.
- Corrective and remedial powers of supervisors have been streamlined.
- Consultations are under way for implementing Basel-III.
Major findings and supervisory strengths
- Well-defined banking supervision process with broad enforcement powers vested in the Banco Central do Brasil (BCB).
- Enhanced licensing process.
- Considerable improvements in debt collection procedures by the BCB.
- Streamlined corrective and remedial powers of supervisors.
- Adoption of strategies to improve compliance measures.
- Consultations in progress for implementing Basel-III.
Subject coverage and keywords
- Subject: Bank legislation, Banking, Credit risk, Financial regulation and supervision, Internal controls, Market risk, Operational risk, Revenue administration
- Keywords: Bank legislation, banking group, board of directors, business strategy, central bank, CR, credit risk, Credit risk, financial market, Global, internal audit, Internal controls, ISCR, Market risk, Operational risk, risk management, senior management