Regulation more appropriate to the nature of the banking sector

As is well known, the financial system is inevitably subject to asymmetric information problems that can cause conflicts of interest between the different players: borrowers, creditors, shareholders, bank managers, etc. This tends to exacerbate the system’s procyclical nature, that is, the trend for credit booms to emerge in expansionary phases, and it can lead to an excessive accumulation of risks, excessively low levels of capital or misconduct in the commercialization of products . 1 In this context, the regulations seek to prevent cycles of excessive credit growth and risk-taking, although...