Thank God, na próxima semana haverá Canadá!...

I. Improving Supervision

Turning first to the issue of supervision, post-crisis analysis by IMF staff and other experts found shortcomings related to both the ability and willingness of supervisors to act in the face of institutional weakness.

• Prior to the crisis, for instance, supervisors relied excessively on financial firms’ own risk analysis and internal controls. In broad terms, they relied heavily on the self-disciplining qualities of markets. In other words, supervisors were insufficiently intrusive and skeptical

• In a rapidly changing environment spurred by financial innovation, analysis by my IMF colleagues and others suggest that in many cases supervisors did not fully understand new complex products and did not do enough to make sure that financial firms’ Boards and managements fully grasped the riskiness of these products. In other words, supervisors were insufficiently proactive and adaptive.

• Not surprisingly, supervisors tended to confine their assessments to regulated entities and did not adequately consider risks posed from outside of the regulated system. Thus, supervision was insufficiently comprehensive.

• Supervisors often did not act quickly enough to develop their supervisory judgments. In other words, in many cases, supervision was insufficiently conclusive....

...e continuem a ler!

No fim, sobra uma questão! O que foi Constâncio fazer para Frankfurt?