World Bank2013-09-302013-09-302006-08https://hdl.handle.net/10986/15936Uruguay suffered a severe banking and currency crisis in 2002 from the spillover of Argentina's crisis. The crisis highlighted important underlying weaknesses of the Uruguayan financial sector, many of which were already well known. This Financial Sector Assessment summarizes the findings of a joint International Monetary Fund/World Bank Financial Sector Assessment Program (FSAP) team that visited Montevideo in October 2005 and January-February 2006. The purpose of the assessment was to help the authorities identify financial system strengths and weaknesses with a view to implementing an action plan to increase the system's contribution to economic development. The FSAP assessment is based on information provided by the authorities at the time of the missions.en-USCC BY 3.0 IGOACCOUNTINGACTIVE DEBTAMORTIZATIONASSET DIVERSIFICATIONASSET QUALITYASSET RATIOBANK ASSETSBANK DEBTBANK DEPOSITSBANK LENDINGBANK LOANSBANK REGULATIONBANKING CRISISBANKING SECTORBANKING SYSTEMBANKRUPTCYBANKRUPTCY PROCEDURESBROKERSCAPITAL ADEQUACYCAPITAL GAINSCAPITAL LOSSESCAPITAL MARKETCAPITAL MARKET LAWCAPITAL MARKETS DEVELOPMENTCAPITALIZATIONCENTRAL BANKCOLLATERALCOMMERCIAL BANKCOMMERCIAL BANK ASSETSCOMMERCIAL PAPERCOMMERCIAL PAPER ISSUESCOMMERCIAL PAPER MARKETCOMMERCIAL TERMSCONSUMER CREDITCONSUMER LOANSCONTINGENT LIABILITIESCONTINGENT LIABILITYCORPORATE BOND MARKETCORPORATE BONDSCORPORATE DEBTCORPORATE GOVERNANCECORPORATE SECURITIESCREDIT BUREAUCREDIT CARDCREDIT CARDSCREDIT CULTURECREDIT ENHANCEMENTSCREDIT QUALITYCREDIT RISKCREDIT RISKSCREDIT SYSTEMSCREDITORSCURRENCYCURRENCY BOARDCURRENCY CRISISCURRENCY MISMATCHCUSTODYCUSTODY ARRANGEMENTSDEBENTURESDEBT EXCHANGEDEBT ISSUANCEDEBT LEVELSDEBT MANAGEMENTDEBT RATIOSDEBT RESTRUCTURINGDEBT SERVICEDEBT-EQUITYDEBTSDEFAULTERSDEFICITSDEPOSITDEPOSIT INSURANCEDEPOSITSDERIVATIVEDERIVATIVE TRANSACTIONSDOMESTIC BANKSDOMESTIC CORPORATE BONDECONOMIC DEVELOPMENTEQUITY MARKETEQUITY MARKET CAPITALIZATIONEXCESS SUPPLYEXCHANGE RATEEXCHANGE RATESEXPORT GROWTHEXTERNAL DEBTFINANCIAL DEVELOPMENTFINANCIAL INFRASTRUCTUREFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL RISKSFINANCIAL STRUCTUREFINANCIAL SYSTEMFISCAL DISCIPLINEFORECLOSUREFOREIGN BANKSFOREIGN CURRENCYFOREIGN CURRENCY DEBTFOREIGN CURRENCY LOANSFOREIGN EXCHANGEFOREIGN INTERESTFRAMEWORK FOR SECURITIESFRAUDGOVERNANCE ISSUESGOVERNMENT DEBTGOVERNMENT GUARANTEEGOVERNMENT GUARANTEESGOVERNMENT LENDINGGOVERNMENT POLICYGOVERNMENT SUPPORTHEDGESHOLDINGSHOUSING FINANCEIMPLICIT GOVERNMENT GUARANTEESIMPLICIT GUARANTEESINFLATIONINSTRUMENTINSURANCEINSURANCE COMPANIESINSURANCE COMPANYINSURANCE PRODUCTSINTEREST RATESINTERNATIONAL CAPITALINTERNATIONAL CAPITAL MARKETSINTERNATIONAL DEBTINTERNATIONAL DEBT MARKETSINTERNATIONAL FINANCIAL INSTITUTIONSINVESTMENT REGULATIONSINVESTOR CONFIDENCEINVESTOR PROTECTIONISSUANCELABOR MARKETLACK OF TRANSPARENCYLEGAL ENVIRONMENTLEGAL FRAMEWORKLEGAL MONOPOLYLEGAL OBLIGATIONLEGAL RIGHTSLEVEL PLAYING FIELDLIENLIENSLIFE INSURANCELIFE INSURANCE POLICIESLIFE INSURANCE PRODUCTLIQUID ASSETLIQUID ASSETSLIQUIDATIONLIQUIDITYLIQUIDITY PROBLEMSLIQUIDITY RISKSLOANLOCAL BANKSLOCAL CURRENCYLOCAL MARKETLOCAL MARKETSLONG-TERM RESOURCESMACROECONOMIC POLICIESMACROECONOMIC STABILITYMARKET ACCESSMARKET CONCENTRATIONMARKET DEVELOPMENTMARKET INFRASTRUCTUREMARKET INSTRUMENTSMARKET PRICESMATURITIESMATURITYMORTGAGEMORTGAGE INTERESTMORTGAGE INTEREST RATESMORTGAGE MARKETMORTGAGESNONPAYMENTNONPERFORMING LOANSOUTSTANDING AMOUNTPAYMENT SYSTEMSPENSIONPENSION FUNDSPENSION SYSTEMPENSIONSPORTFOLIOPORTFOLIO INVESTMENTSPORTFOLIOSPRIVATE BANKPRIVATE BANKSPRIVATE LENDERSPRIVATE LENDINGPROMISSORY NOTESPRUDENTIAL REGULATIONSPUBLIC BANKSPUBLIC DEBTPUBLIC SECTOR DEBTRATES OF INTERESTREGULATORY FRAMEWORKREPOSRESERVERESERVE REQUIREMENTSRESERVESRESIDENTIAL MORTGAGERETURNRISK MANAGEMENTRISK MANAGEMENT SYSTEMRISK PREMIUMSSAFETY NETSECURITIESSECURITIES LAWSECURITIES MARKETSECURITIES MARKETSSETTLEMENTSETTLEMENT SYSTEMSSOLVENCYSOVEREIGN RISKSTATE BANKSTATE BANKSSTATE GUARANTEESSTOCK EXCHANGESTOCK EXCHANGESTAXTAX CONCESSIONSTAX EXEMPTIONTAX TREATMENTTERRORISMTIME DEPOSITSTRADINGTRANSPARENCYTREASURYTRUST FUNDSWEAK ASSETSWITHDRAWALYIELD CURVEWorld Bank10.1596/15936