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In Latin America, the low financial deepening of different countries and the high active and passive rates have been expressions, among others, of a certain distrust in financial institutions by savers, which is also the result of multiple financial crisis in the past. The general context has been one of high macroeconomic volatility, high moral risk, low legal security, high financial risks (such as interest rates and exchange rates) and banking supervision that is still in the process of being improved. This context has provided the framework for at least sporadic bank failures, which have led, among other things, to a tendency for depositors to demand high rates and to hold assets abroad (which has contributed to the low level of financial systems in the region).
This paper aims to describe the different systems of bank deposit protection that exist (and are being planned) in Latin America at the level of issuing institutions, state guarantees, and funds made up of bank contributions. Based on this point of reference, the possibilities and difficulties in extending bank protection schemes to credit unions are analyzed and the different protection systems that have been created (and those in project) exclusively for the cooperative savings and credit sector are described. (Text in Spamish)
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