IMF Staff Country Reports

Colombia: Technical Assistance Report-Detailed Assessment of Observance of Key Attributes of Effective Resolution Regimes for Financial Institutions-Pilot of the Draft Assessment Methodology

April 13, 2016

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Colombia: Technical Assistance Report-Detailed Assessment of Observance of Key Attributes of Effective Resolution Regimes for Financial Institutions-Pilot of the Draft Assessment Methodology, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper provides a detailed assessment of key attributes of effective resolution regimes for financial institutions in Columbia. The authorities of Columbia have strong powers to manage weak and failing financial institutions and a track record of using them. Colombia’s resolution regime, however, has shortcomings with respect to standards set in the key attributes. Important resolution powers are not available to the authorities, the regime does not emphasize minimizing the exposure of taxpayers to loss, and taking resolution actions does not hinge on an assessment of non-viability. However, Columbia has a large and diversified financial system compared with peer countries, with significant cross-border institutions and large mixed function conglomerates.

Subject: Bank resolution, Bank resolution framework, Banking, Bridge bank, Crisis recovery and resolution planning, Financial crises, Legal support in revenue administration, Revenue administration

Keywords: Advisory council, Bank resolution, Bank resolution framework, Bridge bank, Business organization, Central America, CR, Crisis recovery and resolution planning, Event of default, Home authority, ISCR, Lead authority vis-à-vis SSoc, Legal support in revenue administration, Nonfinancial company, Parent company, Public funds, Resolution action, Resolution authority, Resolution authority result, Resolution measure, Resolution planning, Resolution power

Publication Details

  • Pages:

    73

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2016/099

  • Stock No:

    1COLEA2016001

  • ISBN:

    9781484313039

  • ISSN:

    1934-7685

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