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CAMELS rating system, 115
Canada, 55, 56fig,
244
Capital adequacy, 91, 115
Capital markets:
 depth
of, 234
money
laundering and development of, 246-247
need
for banks, 4
role
in housing finance, 222-223
and
securitization risk, 232
Capital regulatory index, 88
Capital requirements:
and
capital adequacy, 91
and
credit risk, 228-232
increasing,
233
and
information disclosure, 227
in
Latin America, 88-89
Caribbean Financial Action Group, 249
Centralized rating-based (CRB) approach, 227,
235-236
Chambers of commerce, 175,
179-181
Chile:
bank
concentration, 119
banking
crisis resolution, 72box,
75-76
CPI-indexed
debt, 64, 65box
credit
registries, 178box,
179-181
currency
derivative markets, 48
deposit
insurance, 102-104
financial
dollarization, 49, 51,
95
foreign
banks, 129, 133,
135-136, 138
housing
finance, 209, 211,
212box, 215-216,
218-222
indexing
interest rates, 213
inflation
and real devaluation, 55,
56fig
interest
rate spread, 6
invoice
discounting, 198, 199box
money
laundering, 243, 251
public
debt and deficit, 18fig
small
and medium enterprises, 187,
190
state-owned
banks, 147-149, 152
sudden
stops, 41, 46
Unidad
de Fomento (UF) contract, 54,
57, 65box
Civil law, 172-174
Coinsurance, 100
Collateral:
in
developing countries, 164
frameworks
for use of, 164
liquidation
costs, 168
nonjudicial
recovery procedures, 221
obstacles
to recovery of, 211, 212box
as
problem-solver in financial contracts, 167
rated
securities as, 232
repossession
of, 164, 167
reputation,
176
and
SME borrowing, 195, 197
time
and costs for recovery of, 212box,
213tab
weaknesses
in use of, 23-24
Colombia:
closing/merger
of banks, 119
credit
registries, 176, 178box,
182-183
deposit
insurance, 102, 104
financial
dollarization, 49, 95
foreign
banks, 129, 133-136,
138
housing
finance, 212box,
216, 218-220,
222
indexing
interest rates, 213
market
discipline, 110, 112
money
laundering, 243, 251
public
debt and deficit, 18fig
restriction
of dollarization, 65
small
and medium enterprises, 187
state-owned
banks, 148-149, 152
sudden
stops, 41
Common law, 171, 172box
Contagions, 19
Corporación Financiera Nacional (Ecuador), 146box
Costa Rica:
credit
registries, 178box,
179
financial
dollarization, 51-52, 95
foreign
banks, 138
housing
finance, 216
invoice
discounting, 198
state-owned
banks, 147-148, 151
Credit:
access
to, 22-23, 124-125,
168, 170-171
bank
concentration and availability of, 121
expansion
as factor in banking crises, 36,
38-39, 47
and
GDP, 3, 4tab
importance
of, 3
levels
of, 5-6
rationing
of, 142, 167,
175, 194
role
for government intervention, 9,
22
as
source of economic development, 4
Credit booms, 33
Credit bureaus. See Credit registries
Credit constraints, 6
determinants
of, 197tab
and
excessive dollarization, 60-61
as
major obstacle, 203-207tabs
Credit guarantees, 195,
198-200, 201box,
212box
Credit markets, 166-168,
177
Credit procyclicality, 123-124,
127, 134-135
Credit rating agencies, 113-114,
228, 229tab,
233
Credit ratings, 113-114,
228-234
Credit registries:
bank
use of data from, 182-183
collection
of data by, 176
creation
of reputation collateral by, 24,
176
credit
market development role for, 177
FDI
in, 179
and
financial development, 185
and
interest rate levels, 24-25
in
Latin America and the Caribbean, 179-181,
183
nonperforming
loans ratio reduced by, 177,
178box
origins
of, 175
ownership
of, 183-184
private
vs. public, 176, 179,
183-184, 195
quality
of information from, 181-182
for
reduction of fixed lending costs, 191
reduction
of information asymmetry by, 177
and
SME access to credit, 195-196,
198
Credit risk:
capital
requirements link to, 228-232
collateral
repossession and, 171
financial
guarantees for lowering of, 164
and
loan pricing, 47-48
mitigation
techniques, 232, 234
Credit-scoring tools, 176,
191, 198
Credit stability:
foreign-owned
vs. domestic banks, 21-22
need
for, 4
public
vs. private banks, 23, 154
Credit subsidies. See Subsidies
Credit volatility:
and
bank concentration, 126
by
country and region, 7-9,
48
and
creditor rights, 24fig
foreign
banks and, 134-135
as
response to macroeconomic shocks, 13
Creditor rights:
access
to credit and protection of, 168,
170-171
and
bad institutions, 172-173
and
borrower default, 192
and
credit volatility, 24fig
deepening
credit markets and protection of, 164-166
and
depth of credit markets, 166-168
financial
liberalization and, 173
and
financial stability, 171-172
and
housing finance, 221
in
Latin America, 164-166,
173-174
by
region, 24fig
and
SME borrowing, 196-197
Crisis. See Banking crises
Cross-border lending, 129
Currency crises, 38, 78
Currency derivative markets, 48
Currency mismatches, 11,
50-52, 94-96,
97tab
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