This sub content title section you can add you real content.
The Latin American Reserve Fund (FLAR) is launching Lúmina, a regional cooperation initiative aimed at developing a roadmap to explore the potential regional and multilateral interconnection of instant payment systems across Latin America, while paving the way for future connections with global networks for faster, more efficient, and more accessible cross-border payments.
SINGAPORE, SEPTEMBER 15, 2026 – The 10th Joint Regional Financing Arrangements (RFAs) Research Seminar concluded today in Singapore, bringing together more than 150 participants from across the globe, including heads of institutions, policymakers, academics, and experts. The seminar examined how rapid financial digitalization is reshaping money, payments, and global financial system; the implications for financial stability and policy formulation; and the evolving role of regional and global financial safety nets.
In our recent study, we examine how inflation reshapes bank asset allocation across 63 emerging economies from 2000 to 2021, showing that while moderate inflation has minimal effect, extreme inflationary shocks trigger a severe, persistent shift away from private sector lending and toward government securities. Crucially, this crowding-out effect compounds over time to peak at a five-year horizon, underscoring the vital role of central bank macroprudential oversight and proactive asset-liability management in preventing long-term credit supply disruptions.
Carlos Giraldo, Iader Giraldo, Jose E. Gomez-Gonzalez, and Jorge M. Uribe have published the study “Is the international bank lending channel driven by ownership? Evidence from local banks and foreign subsidiaries” in the Journal of Banking Regulation. The research examines whether bank ownership influences the international transmission of U.S. monetary policy, using data from 2,039 banks across 116 countries. The findings suggest that, although foreign-owned banks appear to respond more strongly to these shocks, the differences are not statistically significant, highlighting the importance of bank balance-sheet characteristics and exposure to global financial conditions.