Banco Central e a administração de crises bancárias

• Ano de defesa: 2014
• Autor(a) principal: Borges, Caio de Souza
• Orientador(a): Nasser, Salem Hikmat
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Palavras-chave em Português: Governança global do sistema financeiro; Risco sistêmico; Resolução bancária; Legitimidade
• Palavras-chave em Inglês: Accountability
• Link de acesso: http://hdl.handle.net/10438/11815

Banking crises can have a distributive effect within a society. The public interest in a well-functioning banking system requires that effective resolution regimes are framed in order to avoid the disorderly failure of such financial intermediaries and the eruption of systemic risk. The Brazilian Central Bank is mandated with the task of ensuring financial stability, and to discharge its duties the authority is entitled to use several instruments of bank restructuring and resolution. To avoid the spread of systemic risk, legal rules confer upon the Central Bank broad discretionary powers in the choice of methods for bank resolution. However, the crescent globalization of finance constrains the available options of the authority, especially in the case of failure of global financial conglomerates, where coordination and cooperation with foreign authorities may be required for an effective resolution. Since the outset of the global financial crisis, in 2007-2008, international financial regulators have undertaken several initiatives aimed at creating a coordinated international framework for crisis management, as demonstrated by the attempts to harmonize between domestic resolution regimes. The historic of banking crises in Brazil explains how the financial safety net became relatively robust in the country even before the global financial crisis and explains the resilient performance of the domestic system during the worst stages of the crisis. Since a systemic banking crisis did not strike the Brazilian financial system, it is relatively isolated from recent trends that are reshaping the institutional landscape of many national financial systems, such as the reorganization of the architecture of financial supervision. However, the challenges imposed by financial globalization and local factors are motivating reforms and subtle changes in the governance of the Brazilian safety net. Through the reconstitution of the acts taken by the Central Bank during three different crises in Brazil, this study aims to analyze, under a critical fashion, the evolution of the safety net of the Brazilian banking system and the design of legal mechanisms of accountability for the financial authority which apply to its supervisory and crisis management functions.