The mission of the LASFR is to identify and analyse trends and ongoing events that affect the appropriate functioning of financial markets in Latin America. For that purpose the Committee explores the spectrum of short- and long-term implications of emerging problems and policy changes; helps develop private and regulatory responses to such problems that promote the efficiency and safety of the financial services industry in the region; and assesses and responds to proposed and actual public policy initiatives that affect financial markets. The scope of events, proposals and regulations analysed by the Committee includes not only regional ones but also those international developments that have an impact on Latin American financial markets. The goal of the Committee is to raise the level of debate on public policy affecting the safety and efficiency of Latin American financial markets and to improve public policy itself largely through its policy statements and their underlying analytical reasoning. The statements are released at a press conference immediately following the meetings and are delivered to the appropriate policy-makers, regulatory agencies, and interested parties. The Committee meets three times every year (including a joint annual meeting with the its colleague Shadow Committees in Europe, Japan, and the U.S.) Topics to be covered by the LASFR during the coming years will include, among others: the impact of proposals to reform the architecture of the international financial system on the functioning of Latin-American financial institutions; guidelines for the design of financial services regulation; the pros and cons of universal banking and bancassurance; the development of capital markets in Latin America; banks and derivatives; electronic payment services by non-banks; supervision of financial conglomerates and non-banks; capital requirements (including the new debate on the role of external ratings, internal ratings and subordinated debt), and state ownership and/or support of financial institutions.

The conclusions and recommendations of the LASFR are its own. The Committee is fully independent of the providers, regulators and supervisors of the financial services industry in Latin America and elsewhere. The Committee accepts financial support by institutions for the purpose of funding its meetings but only if such funding by no means compromise the Committee's independence of views and actions mentioned above.

Members of the LASFR are drawn from academic institutions and think tanks and reflect a wide range of views. The common denominators of the members are their Latin American nationality and their public recognition as experts on Latin American financial issues and markets. The Committee is willing to accept a non-Latin American member only if the specific and unique qualification of the member warrants the exception.

We would like to give our special thanks to our sponsors: CAF, FELABAN,and WORLD BANK