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Journal of the Banking Supervisor No. 68

New Challenges in Supervision in the Post-covid Era

Russia’s invasion of Ukraine and its effects on commodity markets, supply chains, inflation and financial conditions have intensified the slowdown in global growth. Prior to the war, the world economy had embarked on a strong recovery, albeit heterogeneous across regions and more so across countries. The countries in the region have been affected by the rise in commodity prices, which is increasing inflationary pressures and contracting income and spending in real terms, further hampering the recovery and creating new risks that are escalating in the supervisory spotlight.

Due to the deterioration of economic conditions, prudential regulation, as well as the regulatory agenda of the different jurisdictions and international organizations, has undergone important adjustments, such as relaxations, extensions and, in its minor cases, updates. The role of financial authorities is crucial to cope with this new post-covid reality. A strong and comprehensive policy response is needed to boost growth, strengthen macroeconomic frameworks, reduce financial vulnerabilities and support vulnerable groups.

In this context, the 68th edition of the Journal of the Banking Supervisor presents relevant texts on advances in regulatory issues that have been made in the region. Two documents published by the Association are highlighted: (i) General Considerations for Cross-Border Memoranda of Understanding between Supervisory Authorities and (ii) the Report on the Implementation of Regulatory and Supervisory Standards 2022. The economic outlook section contains current views on the most important challenges and risks for the second half of 2022. The research and analysis section highlights the topics of regulation and supervision of financial technologies, and the latest developments in cryptoasset regulation. Finally, the latest financial regulations of our Associate Members are included, as well as research papers and reports on topics of interest for our Members that were published in the second quarter of the year.

Categories: Journal of the Banking Supervisor
Author: ASBA