Many countries in Latin America and the Caribbean now publish financial stability reports. They use FSRs as a tool for financial surveillance and communication. This study reviews their latest issues to assess their content, quality, and transparency, and the extent to which the country's...

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....