financial system is really hard with political uncertainty, says director of the Central Bank

According to Meirelles financial system in Brazil is solid and well capitalized. Even so, He emphasized the importance of anticipating crises.
16/06/2016 13h25 - Updated 16/06/2016 13h25
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The Central Bank Supervisory Director (BC), Anthero de Moraes Meirelles, he said today (16) the Brazilian financial system is "hard", despite the challenging time of great political uncertainty and challenges in the economic area. He made the statement at the opening of the International Planning Seminar Recovery and Banking Resolution, na sede do BC, in Brasilia.

“The system is rigid despite the challenging time of great political uncertainty and challenges in the economic area”, said director.

Anthero Meirelles said Brazil's financial system is solid and well capitalized. Even so, He emphasized the importance of anticipating crises. "The supervisor's position should be to never settle", said.

The BC Regulatory Director, Otavio Ribeiro Damaso, who also attended the opening ceremony, He said that crises always bring learning opportunities and improvements, as the international economic crisis 2008.

to Damaso, at that time faults were detected in the international financial system and learned to deal with "too big institutions to fail". That is, large financial institutions that are broken, second Damaso, create problems, not only in the financial system, but in the whole economy. To contain it, he highlighted the improvement of regulatory and supervisory practices.

"The main objective is to reduce the breakdown probability of these systemic financial institutions and, in its occurrence, mitigate its effects on the financial system and the real economy ", said Damaso. He also said it is important that the institutions themselves are known to adopt preventive actions, eliminating vulnerabilities.

Source: Agency Brazil


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