FELABAN: 10 premises of regional banking

After the XLII Assembly held in Panama, the Latin American Federation of Banks expressed its position on the financial crisis.

Thursday, November 20, 2008


• The current international financial crisis and the resulting global economic recession did not start in Latin America.
• The Latin American banking sector is solid, liquid and credit-worthy.
• Latin American financial systems are complying with the strictest of banking standards and prudence.
• The banking sector is responsible for the protection of the assets of all those who have put their trust in it, and consequently, reaffirms that the principles of rule of law and the market economy should be upheld.
• History has shown that the problems of an economy in crisis are solved with the free flow of trade and capital and not by protectionism.
• We highlight the fact that any government action will be executed more efficiently and quickly in coordination and with the agreement of private agents.
• We call on regulators and managers of the economic and monetary policy in Latin America to assume their role of innovator with prudence in order to maintain financial stability.
• The new international financial order should receive both the support of our governments and the multilateral organizations.
• We call on the international banking system to act with full responsibility to meet the financial needs of the region.
• FELEBAN will continue to head initiatives that lead to the strengthening of the regional financial system with due transparency.

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