2016-10-17
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On September 26th and 27th, The Brazilian Central Bank (Banco Central do Brasil – BCB) held the Seminar “Sharing Best Experiences in Monitoring and Oversight of Credit Unions and Non-Banking Institutions”. Participants discussed management and monitoring practices for credit unions based on initiatives introduced in the EU. The event followed up a mission by BCB representatives to Europe in July.
The activities were part of the 8th Call of the EU-Brazil Sector Dialogues Support Facility, coordinated by the EU Delegation in Brazil (DELBRA), in conjunction with the Ministry of Planning, Development and Management (Ministério do Planejamento, Desenvolvimento e Gestão – MP).
“The event is the culmination of a process in which we first determined the countries that could offer us best practices in the oversight of credit unions. Once we had selected the target countries, we travelled to Europe, specifically four countries (Italy, Austria, Germany and Switzerland). The experience afforded us the opportunity to assess approaches very similar to those adopted here in Brazil and others wholly different or based on different ways of thinking”, explained Rodrigo Braz, Deputy Head of the Credit Union and Non-Banking Institution Oversight Department (Departamento de Supervisão de Cooperativas e de Instituições Não Bancárias – DESUC).
Mr Braz argued that the discussions with representatives of institutions in different countries revealed that Brazil is on the right path and has the potential to make added improvements in this area, in addition to promoting further debate within the BCB.
“This is exactly what the Sector Dialogues Support Facility proposes!” emphasised Erik von Pistohlkors, Minister-Counsellor of DELBRA. “I am very happy to be here and hope you will maintain the contacts made with other institutions”, he added. The Minister-Counsellor also underscored the project’s scope and made himself available to partner with the BCB in future actions.
“Although this stage of the action concludes here, seeds remain, contacts remain and networks have been re-established to enable the BCB to take independent action now and join the EU-Brazil cooperation initiative from a stronger position”, remarked the Acting National Director of the Sector Dialogues Support Facility, Giovana Veloso.
Pedro Costa, Head of the International Technical Cooperation Consulting Office (Chefe da Consultoria de Cooperação Técnica Internacional – COOPE) of the BCB’s Department of International Affairs (Departamento de Assuntos Internacionais – DERIN), noted that the seminar was the product of extensive planning, visits, information and knowledge gathering and relationship building efforts. “The expertise obtained by a number of people can now be passed on to BCB staff and departments engaged in this area”, said Mr Costa. He also highlighted the importance of the Ministry of Planning’s support in making the dialogues with European institutions possible.
The two-day event included presentations by Robert Bauer of the Austrian National Bank, Massimo Della Camera, a representative of the Bank of Italy, and Daniel Del Santo, an Expert in Internal Auditing Services for Swiss Credit Unions.
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