Assessing Financial Access In Brazil

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Assessing Financial Access in Brazil

Author : Anjali Kumar
Publisher : World Bank Publications
ISBN 13 : 0821361317
Total Pages : 93 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Assessing Financial Access in Brazil by : Anjali Kumar

Download or read book Assessing Financial Access in Brazil written by Anjali Kumar and published by World Bank Publications. This book was released on 2005-01-01 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to financial services in Brazil has been relatively stable over the past ten years, despite the banking sector contraction of the late 1990s. Wide geographic variations in the supply of banking services by region and municipality are partly explained by differentials in income and population density. On a cross-country basis, Brazil does not appear to be underbanked. Looking at the use of financial services by different groups of consumers in Brazil, differences in financial access across regions is confirmed, but differences among richer and poorer neighborhoods can be as important. Public financial institutions in Brazil, deemed to be socially responsible, appear to have served disadvantaged groups more than private banks on some measures and for some services. However, their role varies by type of service, and in the case of some services, public banks in fact may have better served the better-off groups. At the level of individuals, the most important determinants of access to financial services are socio-economic characteristics such a income, wealth, and education. This may signify that in the presence of asymmetric information, access to such services depends critically on client information, and such characteristics provide a proxy for creditworthiness.

Assessing Financial Access in Brazil

Author : Anjali Kumar
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Assessing Financial Access in Brazil by : Anjali Kumar

Download or read book Assessing Financial Access in Brazil written by Anjali Kumar and published by World Bank Publications. This book was released on 2005 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction -- The supply of bank services: branches and service points -- Users of financial services: a survey of urban individuals -- Analysis of survey results: what explains access? -- Summary of findings and policy implications.

Brazil

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1484387643
Total Pages : 96 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Brazil by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Brazil written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-11-30 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Brazil 2012 FSAP, the financial system has been stable despite the deep recession. The resiliency of the banking system was supported by high profitability, buoyed by large interest margins. While the financial system has grown since the 2012 FSAP, its structure remains largely unchanged. The system is dominated by large, vertically-integrated financial conglomerates and concentrated in liquid short-term instruments. The public sector continues to play a dominant role in the financial sector, and its interconnectedness. Banks are broadly resilient to severe macrofinancial shocks. Current high profits and capital ratios support the resiliency of banks under a severe stress test scenario. Under the stress scenario, small capital shortfalls result; banks would nevertheless experience reduced income, including from market loss on government bonds, and high credit losses on exposures to the corporate sector which, despite recent improvement, is still vulnerable to shocks. This benign outcome deteriorates if their capital is adjusted for deferred tax assets. Moreover, some banks are exposed to concentration risk. Some actions are still needed to address bank-specific risk profiles to boost their resilience. Banks are generally well-positioned to manage short-term and medium-term liquidity pressures and interbank contagion seems limited.

Enterprise Size, Financing Patterns, and Credit Constraints in Brazil

Author : Anjali Kumar
Publisher : World Bank Publications
ISBN 13 : 0821361295
Total Pages : 73 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Enterprise Size, Financing Patterns, and Credit Constraints in Brazil by : Anjali Kumar

Download or read book Enterprise Size, Financing Patterns, and Credit Constraints in Brazil written by Anjali Kumar and published by World Bank Publications. This book was released on 2005-01-01 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Enterprise Size, Financing Patterns, and Credit Constraints in Brazil' investigates the importance of firm size with respect to accessing credit. The principal findings are that size strongly affects access to credit compared to firm performance, and other factors, such as management education, location or the industrial sector to which the firm belongs. Additional findings are that the impact of size on access to credit is greater for longer term loans and that public financial institutions are more likely to lend to large firms. Finally, financial access constraints may have a less significant differential impact across firms of different sizes than other constraints, though cost of finance as a constraint is very important.

Brazil

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1475506724
Total Pages : 64 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Brazil by : International Monetary Fund

Download or read book Brazil written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-07-31 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses the stability of Brazil's financial system, which is diversified and shows sustained economic progress. Fiscal and monetary policies have been aimed to improve bank reserves, and foreign exchange intervention has been streamlined to curb volatility in the exchange market. These measures have been effective in achieving the immediate targets, maintaining macroeconomic stability, and ensuring adequate financial sector buffers. However, there are indications of emerging strains in some sectors and asset classes.

Brazil

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 148438850X
Total Pages : 348 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Brazil by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Brazil written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-11-30 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central Bank of Brazil (BCB) has shown a determined commitment to enhancing its standards and practices of banking supervision. Changes in the thinking and practices of the BCB’s supervision are not limited to responses to the demands of the international regulatory reform agenda. Overall, the BCB has been guided by the principle of integration, both in terms of the expectations that it places on its own internal operations but on the standards it expects the financial institutions to meet in governing their own risks and activities. One example is the BCB’s innovative and challenging work in the field of contagion analysis at the systemic level which is a perspective it also seeks to embed in its analysis of contagion risk in its prudential work at firm level. Boosting staff levels in conduct supervision, introducing a form of twin peaks, contagion risk analysis, and the prudential conglomerate approach also exemplify welcome developments.

Access to Financial Services in Brazil

Author : Anjali Kumar
Publisher : World Bank Publications
ISBN 13 : 9780821357163
Total Pages : 698 pages
Book Rating : 4.3/5 (571 download)

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Book Synopsis Access to Financial Services in Brazil by : Anjali Kumar

Download or read book Access to Financial Services in Brazil written by Anjali Kumar and published by World Bank Publications. This book was released on 2005 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an increasing awareness that access to financial services can contribute to economic growth and poverty reduction. This study focuses on the delivery of financial services in Brazil, one of the world's most important emerging financial markets. It examines different aspects of financial service provision, and explores approaches to address problems of financial exclusion. Topics discussed include: microfinance schemes; private banking; rural finance systems; institutional infrastructure; and the role of government policy.

Assessing Firms' Financing Constraints in Brazil

Author : Stijn Claessens
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (871 download)

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Book Synopsis Assessing Firms' Financing Constraints in Brazil by : Stijn Claessens

Download or read book Assessing Firms' Financing Constraints in Brazil written by Stijn Claessens and published by . This book was released on 2013 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firm surveys often indicate that firms complain a lot about lack of access to financial services, but financing constraints are difficult to identify, given demand and supply considerations and with only surveys based on firms' perceptions. Specifically, it is difficult to separate demand for access to finance of viable firms with good growth opportunities from that of firms that are not creditworthy and should not deserve financing. In Brazil, one of the main constraints to finance is related to the high level of interest rates, which affects both bank funding costs as well as bank intermediation spreads and, as such, the cost of finance and hence the demand and supply of bank financing. This paper analyzes a unique loan level data set that covers almost a decade of monthly firm bank information from credit registry information that is not publicly available as well as two cross-sections of Brazil's Investment Climate Assessment surveys in 2004 and 2008 that provide detailed information on firms' micro characteristics as well as perceptions of credit. The data allow identification of how firms' characteristics, banks' characteristics, and macro variables affect firms' demand for credit, banks' supply of credit, and access to credit. The paper finds first that access to finance for firms has improved over the decade for small firms, reflecting the deepening of the credit markets. However, access to credit depends strongly on information availability captured in the positive influence of collateral and credit history. Banks perceive that it is less risky to lend to firms that the banks know or that other banks know. Second, firms' loan demand is inelastic to the interest rate at the individual loan category level, possibly reflecting some screening and pricing; however, when the loans are aggregated, the effect of interest rates becomes significant and negative as expected. Third, firms' loan demand and loan supply are affected by the availability of collateral and, in the case of loan demand, longer maturity. Policy implications point to the importance of reducing asymmetric information between lenders and borrowers and on collateral to alleviate financing constraints for small firms.

Brazil

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1484387562
Total Pages : 143 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Brazil by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Brazil written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-11-30 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial system has been resilient through the severe recession. Banks and investment funds dominate Brazil’s financial system landscape. The banking sector has continued to be well-capitalized, profitable, and liquid. Profitability has been supported by prudent lending standards, high interest margins and robust fee income, despite record loan losses. Outstanding nonperforming loans have increased marginally during the recession largely because banks have actively written off bad loans. The investment fund industry has also been solid, enjoying a steady growth of assets under management without experiencing net outflows, in aggregate, during the recession. Market-based indicators point to relatively low levels of systemic risk in 2017. However, the outlook for the nonbank sector will become more challenging in the environment of lower interest rates, as lower returns will affect investment income and a search for yield may increase risk-taking.

Brazil

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 148438752X
Total Pages : 51 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Brazil by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Brazil written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-11-30 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Important improvements have been made to the bank resolution, safety net and crisis management framework since the last FSAP. The resolution framework has been strengthened with the creation, within the Banco Central do Brasil (BCB), of a new Resolution Department, and requirements for recovery and resolution planning have been established. The early intervention powers of the BCB are robust and flexible. Notwithstanding this progress, the current framework has limitations that are broadly acknowledged by the authorities. Resolution powers are incomplete and no formal inter-agency arrangements for crisis management are in place. The BCB has taken the lead in preparing a comprehensive draft law (the “Draft Law”) that seeks to introduce a new resolution regime in line with international best practices. This FSAP takes place therefore at a critical juncture. It provides recommendations on the design features of the new resolution regime, examining the existing framework as well as the areas not addressed in the Draft Law.

Brazil

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1484389018
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Brazil by : International Monetary Fund. Monetary and Capital Markets Department

Enterprise Size, Financing Patterns and Credit Constraints in Brazil

Author : Anjali Kumar
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Enterprise Size, Financing Patterns and Credit Constraints in Brazil by : Anjali Kumar

Download or read book Enterprise Size, Financing Patterns and Credit Constraints in Brazil written by Anjali Kumar and published by . This book was released on 2007 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the importance of firm size with respect to access to credit relative to firm performance, and other factors which may affect creditworthiness such as management education, location, or the industrial sector to which the firm belongs. The principal findings are that size strongly affects access to credit, compared to performance as well as other variables, suggesting quantitative limitations to credit access. Looking at short-versus long-term loans, the impact of size on access to credit is greater for longer-terms loans. Further, looking at the ownership of the lending institution, it is found that public financial institutions are more likely to lend to large firms. Finally, examining the role of financial constraints relative to other constraints faced by the firm it is found however that financial access constraints may have a less significant differential impact across firms of different sizes than other constraints though cost of finance as a constraint is very important. The authors are grateful to Thorsten Beck, Gledson Carvalho, Soumya Chattopadhyay, Marianne Fay, Luke Haggarty, Patrick Honohan, Leora Klapper, Leonid Koryukin, John Nasir, Maria Soledad Martinez Peria, Mark Thomas, and Joseacute; Guilherme Reis for their valuable comments on earlier versions.

Brazil

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1484388291
Total Pages : 49 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Brazil by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Brazil written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-11-30 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brazilian FMIs are among the top twenty worldwide. All together there are sixteen financial market infrastructures2 (FMIs) operating in the Brazilian payment system (SPB), out of which nine3 are systemically important and four belong to the top twenty FMIs in the world4. FMIs play an essential role in the Brazilian financial system and are highly relevant in terms of domestic financial stability. In terms of value of transactions, STR (Reserves Transfer System - Sistema de Transferência de Reservas), the Brazilian Real Time Gross Settlement system (RTGS) is the backbone of the SPB, and belongs to the top ten large value payment systems worldwide. SELIC is among the top ten central securities depository/securities settlement systems (CSD/SSSs), CETIP among the top twenty SSSs, and BM&FBOVESPA Clearinghouse, the largest central counterparty (CCP) in Latin America, belongs to the top ten. These infrastructures facilitate the clearing, settlement, and recording of monetary and other financial transactions, such as payments, securities, and derivatives contracts (including derivatives contracts for commodities). Brazilian post-trading services are integrated. The entities providing securities settlement services also provide other post-trade processing, acting both as a clearing house, and a CSD or as a trade repository (TR).

Assessing Potential Financial Problems for Firms in Brazil

Author : Edward I. Altman
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (823 download)

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Book Synopsis Assessing Potential Financial Problems for Firms in Brazil by : Edward I. Altman

Download or read book Assessing Potential Financial Problems for Firms in Brazil written by Edward I. Altman and published by . This book was released on 1977 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Unlocking Prosperity

Author : Waylon Snider
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (138 download)

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Book Synopsis Unlocking Prosperity by : Waylon Snider

Download or read book Unlocking Prosperity written by Waylon Snider and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Brazil

Author : Weltbank
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Brazil by : Weltbank

Download or read book Brazil written by Weltbank and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This Country Financial Accountability Assessment (CFAA) is also a "fiduciary" assessment, given it examines Brazil's Public Financial Management system, to form a judgment on the risk to Bank, and country funds within the Brazilian budget, and the level of accountability and transparency concerning such spending. Moreover, this CFAA will feed into the Bank's lending program, in particular a second Fiscal Reform and Structural Adjustment Loans in FY03. Partly reflecting the lack of a Public Expenditure Review, this CFAA also focuses on upstream budget development issues, including linkages with the government planning systems, as well as downstream budget execution issues. The Brazilian Government appears strongly committed to improving its public financial management, in particular, two major initiatives have been recently undertaken, which significantly impacts on public financial management: a) the Multi-Annual Plan for 2000-2003 adopted a new approach, aimed at improving resource allocation through a program-based approach covering all budget expenditures, involving the setting of program objectives, and measuring performance; and, b) the Law on Fiscal Responsibility, which appears likely to significantly impact on reinforcing commitments to fiscal discipline at the federal government level, and enforcing greater fiscal discipline on sub-national government. Nevertheless, the budget system is fragmented, and complex, hampering resource allocation in line with stated priorities, and, its execution does not reflect program priorities. Notwithstanding needed improvements, the overall conclusion of this assessment is that the Brazilian public financial management system, provides reliable information, adequate systems exist to manage funds at the national level, and, there is a high level of fiscal transparency, both supporting an adjustment lending program.

Brazil

Author : Weltbank
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Brazil by : Weltbank

Download or read book Brazil written by Weltbank and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study seeks to evaluate present levels of access to financial services, and government policies adopted which impact upon access. Based on these findings, it explores options for increased future access to financial services in Brazil. The first section highlights the core conclusions to emerge from the study, which would have implications for government policy. The second section provides a guide to the thematic scope, and content of the study, and the third section describes the findings, conclusions, and recommendations of each section. The overarching message to emerge from this study is that increased financial access would be promoted, by sound overall macroeconomic, and financial sector policy. Beyond that, the Government could, and should undertake regulatory reforms to enable financial markets to function more smoothly, and undertake targeted policies to improve access. However, care should be taken to ensure that such targeted policies allow the excluded groups efficient participation in financial markets. This would direct the focus towards a review of incentives, rather than public financing of special programs. The study points to a series of factors which affect volumes, and costs of financial intermediation. It emphasizes that despite the absence of simple remedies, there are a series of areas in which actions can be taken, which together would help expand access, and lower its costs. Findings in the study suggest that while Brazil is not under-banked in terms of bank branch presence, disparities however in financial access can be as significant between neighborhoods within a city, as between regions of the country. Nonetheless, initial measures designed to expand access adopted over the last few years, especially for the microfinance, and cooperative sectors, and later for banking correspondents, were successful, and pointed towards new modes of access to financial services. One form of alternative measures to the traditional programs include new instruments to offer possibilities for market-based expansion of services.