Paraguay: Regulator Statement

Author: | Published: 5 Jul 2016

There are several types of financial risks that the banking business has to manage. Among these, credit, liquidity and market risks are those that–until recently– were given the most attention by financial institutions and regulators, due to their complexity and high financial costs if materialized. Paraguay's experience in the nineties, however, has shown that operational risks, if not managed appropriately, could potentially trigger severe financial and economic crises. Our experiences show that internal fraud and lack of sound governance policies across key systemic institutions led up to a crisis costing around 50% of national GDP in a 5-year period.

Operational risk was originally conceived...

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