IMF Staff Country Reports

Uruguay: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision and Payment Systems

December 14, 2006

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International Monetary Fund. Monetary and Capital Markets Department "Uruguay: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision and Payment Systems", IMF Staff Country Reports 2006, 439 (2006), accessed November 21, 2024, https://doi.org/10.5089/9781451839388.002

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Summary

Improved liquidity and capital adequacy have increased the Uruguayan banking system’s capacity to withstand shocks. However, macroeconomic and financial risks remain owing to the high level of government debt, guarantees to state banks, high dollarization, and a high share of nonresident deposits. The insurance sector also suffered from the crisis, but the pension system weathered it relatively well. The authorities implemented a stabilization program following the crisis. Capital markets in Uruguay are small and illiquid. The proposed amendments are improving the autonomy and accountability of banks.

Subject: Banking, Capital adequacy requirements, Commercial banks, Credit risk, Expenditure, Financial institutions, Financial regulation and supervision, Pension spending, Public debt, State-owned banks

Keywords: Asset, Banco de la República Oriental del Uruguay, Banco Hipotecario de Uruguay, Bank, Banking system, Banking system assets, Commercial banks, CR, Credit risk, Foreign currency, ISCR, Loan, Pension spending, State-owned banks, Superintendencia de Bancos e Instituciones Financieras, Uruguay

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