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Understanding the behavior of bank spreads in Latin America

机译：了解Latin America的银行传播的行为

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Over the last decade, many countries in Latin America have eliminated interest rate ceilings, reduced reserve requirements, and stopped direct credit controls. These market-oriented reforms have encouraged financial deepening, thereby producing considerable economic benefits to the countries. Nevertheless, the persistence of high interest rate spreads has been a disquieting outcome of the reforms. This paper explores the determinants of bank spreads in a systematic way for Argentina, Bolivia, Chile, Colombia, Mexico, Peru, and Uruguay during the mid-1990s. The analysis shows that high operating costs raise spreads as do high levels of non-performing loans, although the size of these effects differs across the countries. In addition, reserve requirements in a number of countries still act as a tax on banks that gets translated into a higher spread. Beyond bank specific variables, uncertainty in the macroeconomic environment facing banks appears to increase interest spreads. The combination of these microeconomic and macroeconomic factors is a cause for concern in Latin America. As spreads widen, the cost of using the financial system becomes prohibitive to some potential borrowers. In addition, the results suggest that bank capital requirements may not prevent excessive risk taking by banks when bank spreads are high.
机译：在过去十年中，拉丁美洲的许多国家都消除了利率天花板，减少了储备要求，并停止了直接的信贷管制。这些以市场为导向的改革鼓励了金融深化，从而为各国产生了相当大的经济利益。尽管如此，高利率传播的持续存在是改革的令人不安的结果。本文探讨了1990年代中期的阿根廷，玻利维亚，智利，哥伦比亚，墨西哥，秘鲁和乌拉圭以系统方式对银行传播的决定因素。分析表明，高水平的不良贷款，虽然这些效果的规模不同，但高运营成本升高了差价。此外，许多国家的储备要求仍然是对银行的税收被转化为更高的传播。除了银行特定的变量之外，宏观经济环境面临的不确定性似乎增加了兴趣点。这些微观经济学和宏观经济因素的组合是拉丁美洲令人担忧的原因。随着传播扩大，使用金融体系的成本对一些潜在的借款人变得令人满意。此外，结果表明，银行资本要求可能无法阻止银行差价高的银行承担过度的风险。

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