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COVID 19 Lessons

The COVID-19 pandemic has led the Americas region into one of the largest economic contractions on history. Nevertheless, amid the uncertainty and financial turbulence of the last two years, the Banking Regulatory and Supervisory Authority (BRSA) have been a source of resilience. Due to the important reforms following the 2007-2009 crisis, the region’s banks are better capitalized and more liquid, so they did not suffer from immediate stress. On the contrary, accompanied by regulatory and supervisory banking measures, the sector has been a participant in supporting the financing needs of the real sector and lessening the economic impacts related to COVID-19.

 

The pandemic has made it clear that BRSA face formidable challenges, in debt management, budget policies, central banking and structural reforms, as they try to ensure that this global recovery gains traction and lays the foundation for strong growth and development in the long term, while protecting the most vulnerable people and sectors.

 

In this context, the Association of Supervisors of Banks of the Americas (ASBA) developed the research document: “L Lessons Learned from the Regulatory Measures Implemented to Face the COVID-19 Emergency.” The document aims to provide an overview of the potential implications and lessons of the regulatory facilities implemented in the financial sector by countries in the region to deal with COVID-19.

Categories: Recommended Readings
Author: ASBA