Colombia: Financial Sector Assessment Program-Technical Note on Macroprudential Framework Policy and Tools

June 3, 2022

Preview Citation

Format: Chicago

Colombia: Financial Sector Assessment Program-Technical Note on Macroprudential Framework Policy and Tools, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Summary

There has been little change in the institutional framework for macroprudential policy oversight since the last FSAP. Macroprudential policy for the banking sector is a shared competency of the Financial Superintendency of Colombia (SFC), the Banco de la República (BR), and the Ministry of Finance (MHCP), although the SFC and the MHCP play dominant roles. The Financial Sector Coordination and Monitoring Committee (CCSSF), which consists of the three institutions and the Financial Institutions Guarantee Fund (Fogafin), is the main platform for information sharing and cooperation, but it does not have a macroprudential mandate or any formal powers. The SFC supervises asset managers and insurance companies, but there is no formal macroprudential oversight framework for those types of financial institutions.

Subject: Financial regulation and supervision, Financial sector policy and analysis, Financial sector risk, Financial sector stability, International organization, Liquidity requirements, Macroprudential policy, Monetary policy, Systemic risk assessment

Keywords: Central America, Financial sector risk, Financial sector stability, FSAP program, FX risk, Global, IMF-World Bank Financial Sector Assessment Program, Liquidity requirements, Macroprudential policy, Risk monitoring, Staff team of the International Monetary Fund, Systemic risk assessment

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/157
Stock No:

1COLEA2022006
ISBN:

9798400212239
ISSN:

1934-7685

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