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Immovable assets, 164,
171
Imperfect enforcement, 191-193
Indexed financial systems, 222
Indexed units of account, 219
Indonesia, 41
Inflation:
 and
financial development, 59
government
policies on, 74
history
in Latin America of, 53-55
as
predictor of dollarization, 16,
53-55
and
real devaluation, 55-56
reduction
in Latin America of, 34
Informal housing, 210-211,
221
Informal institutions, 168,
169box
Information asymmetry:
adverse
selection, 10, 32-33,
100, 194-195
between
banks and supervisors, 20
collateral
as antidote to, 167
credit
registers’ reduction of, 177
and
market failures, 142
moral
hazard and, 175, 194
between
small enterprises and banks, 136,
176, 198
Information disclosure:
bank
auditors’ role in, 113
bank
concentration’s effect on, 124-125
of
capital requirements, 227
and
disqualification of borrowers, 183
and
foreign banks, 114, 132-133,
239
international standards for, 182
in
Latin America, 179-181
mechanisms
for, 175
regulations
to require, 107-108, 112.
See also Credit registries
Insider trading, 248
Interest rates:
bank
fundamentals and changes in, 113fig
and
borrowers’ leverage, 193-194
credit
registries and levels of, 24-25
effect
of increases in, 32, 194-195
fluctuations
in, 211, 213
Housing
finance and instability in, 221-222
indexing
of, 213
international,
33
spreads
in, 6
Intermediation, financial, 9-10
Internal credit risk assessment models, 96
Internal rating-based (IRB) approach, 227,
230-232, 235-236,
238-239
Invoice discounting, 198,
199box
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