Cover -- Contents -- I. Introduction -- II. Reserve Requirements as a Macroprudential Tool -- III. Literature Review -- A. Some Theoretical Considerations -- B. The Recent Latin American Experience -- C. Recent Empirical Literature on the Latin America Experience -- IV. Empirical Analysis -- A. Event Analysis -- B. Dynamic Panel Vector Autoregression -- V. Conclusions -- References -- Table -- 1. Recent Macroprudential Measures -- Figures -- 1. Reserve Requirements on Banks Liabilities -- 2. Effects of Reserve Requirements when Financial Intermediation Involves a Competitive Loan Market and Market Power in the Deposit Market -- 3. Effects of Reserve Requirements when Financial Intermediation Involves a Competitive Deposit Market and Market Power in the Loan Market -- 4. Credit Dynamics and Interest Rates -- 5. Reserve Requirements in Brazil -- 6. Reserve Requirements in Colombia -- 7. Reserve Requirements in Peru -- 8 Latin America: Average and Marginal Reserve Requirements -- 9. Impact of RRs and other Macroprudential Measures on Private Credit Growth -- 10. Impulse Response of Private Credit Growth to Macroprudential Policy Shocks -- 11. Complementary Role of Macroprudential Policies and Reserve Requirements.