To enhance its ability to conduct risk-based supervision, the Bank has taken steps to improve the skills of existing supervisory staff through specialized training and has also recruited personnel with skills in quantitative risk analysis. The banks have also strengthened their risk management units, but, in order to successfully implement Pillar II further efforts will be required.
An annual indicator to track informality levels in our economies and other indicators for monitoring both unregistered activities and under-registered activities is critical. This kind of tools would enable us to develop proposals for action geared towards Latin American financial systems that contribute to reducing such informality levels in the medium term, with the support of multilateral agencies.