Trends
Regarding regulation and supervision
The signals forthcoming in the analysis conducted above are clear regarding the awareness of the need to include intermediation with microenterprises within the financial system supervised by the monetary authority empowered to do so and to tailor regulation to suit the needs of this business. However, in certain Asian countries this is a process that is still pending and there is nothing to suggest that any progress is to be made in the near future.
- Furthermore, despite the sector’s desirable formalisation, the insufficient internal capacity of certain supervisory bodies to effectively take responsibility for a very high number of institutions may mean that institutions that attract savings will encounter problems that may become serious and endanger depositors’ savings. This risk is obviously much higher in those countries in which institutions are authorised to collect savings from the public without being supervised.
- Concerning delegated supervision, verification has yet to be made of the results in those countries in which it is being implemented, but it might be the alternative that some of them will adopt in order to support the supervisory body in certain tasks.
Finally, it should be noted that the global financial crisis unleashed in the US in 2007 is expected to increase the attention paid to the regulation and supervision of all financial institutions, and most especially those that handle people’s savings, which means the majority.
