Based on the American financial crisis that became a worldwide great depression stock market so far are still implications is that I was not disappointed, since early November 2008 stock market indicators most representative of Great Britain had lost 29.83%, Germany 35.95% France 35.55%, and Iceland, 89.75%. In Asia, China had lost 66.54%, Hong Kong, 46.64%, Korea 37.72%, and Japan, 37.80%. In Latin America, Argentina accumulated a loss of 47.22%, Brazil, 40.85%, and Mexico, 30.78% (Elfinanciero, 06/11/2008: 3A). This situation creates uncertainty unprecedented in modern world history, not only on the broad range of financial instruments that could be taken in different investment portfolios, but especially for the confidence crisis that unfolded after fraudulent financial scandals Madoff and Stanford, for example.
is why the G20 proposed the creation of a body to try to predict the systemic risk in some institutions getting this from two points of view as: The first defines it as a large-scale macroeconomic shock that produces adverse effects most of economic system rather than affecting only one part or some of its institutions, "event which in the opinion of Frederic Mishkin interrupts the information in the financial markets, effectively making it impossible to channel these funds to parties with the most productive investment opportunities." The second systemic risk means that chain reaction that leads to the risk of a financial institution default on their obligations would cause that other entities comply with theirs as if they were interconnected dominoes.
The G20 came to the conclusion that the wedges of the crisis were varied but very important is that the various governments especially those of United States had neglected the supervision which is a function that belongs to the state, which is why this function should not only resumed but to function as do companies with different areas of financial risk.
To implement adequate risk management will require a coordinated effort between internal and external aspects of an entity where the former are more laborious and difficult but nevertheless they are what they can limit the different risks that may incurring an entity and is the implementation and continued strengthening of Internal Control, in order to generate efficiency in operations, reliability of the information financial and strict compliance with applicable laws and regulations to thereby obtain reasonable assurance in achieving its objectives.
External aspects In spite of being less relevant because there are instruments in the financial market place for this are where there should be more monitoring of the big risks that may incur as the recruitment of Derivatives.
is why when it empowers the CESF from July 28, 2010 date set by the state's financial history when you realize that had a function that had been scorned, to oversee the institutions in a comprehensive manner Therefore considering the feasibility of each financial institution system as a whole, and thus to monitor the standard is being applied effectively, It is managing systemic risk that .
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