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Author : Javier de la Cruz,Constantinos Stephanou Publisher : World Bank Publications Page : 45 pages File Size : 55,7 Mb Release : 2006 Category : Bank Policy ISBN : 8210379456XXX
Financial System Structure in Colombia by Javier de la Cruz,Constantinos Stephanou Pdf
The objective of this policy paper is to identify and propose high-level legal and regulatory reforms to Colombia's financial system structure that would enhance efficiency and/or mitigate risks. Five specific and four general reforms are proposed and evaluated based on their compatibility with the aforementioned objectives, ease of implementation, impact, and consistency with international practice. Potential implications for supervision and competition, as well as likely criteria for developing a carefully sequenced reform roadmap, are also highlighted.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 87 pages File Size : 41,7 Mb Release : 2013-02-22 Category : Business & Economics ISBN : 9781475530919
Colombia by International Monetary Fund. Monetary and Capital Markets Department Pdf
In this paper, the structure of Colombia’s financial sector is analyzed and various risks of the financial sector are studied. Supervision of the financial system can be performed by supervisory architecture, banking supervision, various securities, and insurance policies. Systemic liquidity provision, deposit insurance, and bank resolution form the financial safety net. Finally, financial stability and macroprudential framework have been discussed. Macroprudential tools and policies are also explained in detail.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 87 pages File Size : 51,6 Mb Release : 2013-02-22 Category : Business & Economics ISBN : 9781475525366
Colombia by International Monetary Fund. Monetary and Capital Markets Department Pdf
In this paper, the structure of Colombia’s financial sector is analyzed and various risks of the financial sector are studied. Supervision of the financial system can be performed by supervisory architecture, banking supervision, various securities, and insurance policies. Systemic liquidity provision, deposit insurance, and bank resolution form the financial safety net. Finally, financial stability and macroprudential framework have been discussed. Macroprudential tools and policies are also explained in detail.
Foreign Investment in Colombia’s Financial Sector by Mr.Adolfo Barajas,Mr.Roberto Steiner,Ms.Natalia Salazar Pdf
This study analyzes foreign investment in Colombia’s financial system, chronicling major changes in legislation, describing how investment flows evolved over time, and comparing performance of foreign–owned versus domestic banks. Panel data estimations reveal that financial liberalization in general had a beneficial impact on bank behavior in Colombia. Although the positive contribution of foreign entry may be overstated in recent studies by not controlling for other liberalization factors, foreign (and domestic) entry beginning in 1990 did improve bank behavior by enhancing operative efficiency and competition. However, this came at the expense of a deterioration in the loan quality of domestic banks.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 35 pages File Size : 51,8 Mb Release : 2005-08-11 Category : Business & Economics ISBN : 9781451928433
This paper presents a Financial System Stability Assessment Update, including Reports on the Observance of Standards and Codes (ROSC) on the Securities Regulation, Insolvency and Creditor Rights Systems, and Payment Systems in Colombia. Overall, the financial sector appears relatively stable and resilient to potential adverse shocks. The Superintendency of Banks lacks sufficient autonomy and independence while the current legal framework fails to effectively protect either bank supervisors or the Superintendent. Risk-based regulation and consolidated supervision remain key issues for the future.
Financial System Structure in Colombia by Javier De la Cruz,Constantinos Stephanou Pdf
The objective of this policy paper is to identify and propose high-level legal and regulatory reforms to Colombia's financial system structure that would enhance efficiency and/or mitigate risks. Five specific and four general reforms are proposed and evaluated based on their compatibility with the aforementioned objectives, ease of implementation, impact, and consistency with international practice. Potential implications for supervision and competition, as well as likely criteria for developing a carefully sequenced reform roadmap, are also highlighted.
Access to Financial Services in Colombia by Tova María Solo,Astrid Manroth Pdf
"The authors look at the depth of the financial sector in Bogota in terms of the "financial exclusion" of those, particularly poorer citizens, who operate without accounts in formal financial institutions-the unbanked. They begin with a review of the overall decline in financial intermediation from 1998 to 2003, which explains, in part, the high percentage of unbanked-61 percent in a recent household survey in Bogota. The authors next look at the banking system today, concluding that the present challenge is to increase financial intermediation overall, especially with the poor. Their analysis shows that Colombia's banks provide costly services mainly catered toward high-income clients. Existing fees and costs of checking, savings, and loan services average 5-10 percent of a monthly minimum wage, making them hard to afford for low-income clients. The authors also explore the characteristics and impacts of financial exclusion associated with lower and more uncertain incomes, lower education, and closer links to the informal sector. They cite the household survey conducted in Bogota, showing that 70 percent of the unbanked earn less than one minimum wage per month, are three times more likely to be unemployed than the banked, and have lower education levels. The unbanked save and borrow largely in the informal sector, at greater risk and greater cost. At the same time, however, high home ownership rates show that the unbanked have the capacity to build assets, demonstrating that they have "bankable" characteristics. The authors conclude with recommendations for government and for the financial sector to broaden access for the benefit of public and private sectors, and for the unbanked. "--World Bank web site.
International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 262 pages File Size : 40,9 Mb Release : 2022-05-11 Category : Business & Economics ISBN : 9798400207372
Colombia: Financial Sector Assessment Program–Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf
There have been significant improvements to the legal framework and the supervisory process since the last Basel Core Principles (BCP) review; some additional recommended enhancements are highlighted in this assessment. The Superintendency of Financial Institutions (SFC) is an integrated supervisor with a purview that includes banks, finance companies, insurance, securities, and other financial intermediaries. Additionally, the SFC is also the bank resolution authority. To strengthen consolidated supervision, Congress passed Financial Conglomerates Law (FCL) 1870 addressing the supervision of financial conglomerates and granting the SFC supervisory authority over financial conglomerates (CF).2 The FCL strengthened the framework for consolidated supervision, which already included banks and their subsidiaries, by adding holding companies as supervised entities. Moreover, it defined the scope of supervision of financial conglomerates, setting standards with regards to risk management, adequate capital, and corporate governance, as well as minimum requirements for managing concentration risks and conflicts of interest in intragroup and related party exposures. The SFC has strong coordination and cooperation arrangements with foreign supervisors (through signed Memoranda of Understanding (MOUs) and the coordination mechanisms derived from the CCSBSO, among others) as well as the authority to request information from parent companies, all of which were further enhanced with the issuance of the FCL. Additionally, the SFC has access and authority to require information from ultimate beneficial owners.
Financial System Structure in Colombia by Javier de la Cruz Pdf
The objective of this policy paper is to identify and propose high-level legal and regulatory reforms to Colombia's financial system structure that would enhance efficiency and/or mitigate risks. Five specific and four general reforms are proposed and evaluated based on their compatibility with the aforementioned objectives, ease of implementation, impact, and consistency with international practice. Potential implications for supervision and competition, as well as likely criteria for developing a carefully sequenced reform roadmap, are also highlighted.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 141 pages File Size : 49,6 Mb Release : 2001-05-03 Category : Business & Economics ISBN : 9781451808834
This Selected Issues paper provides background information and analysis on recent developments and critical issues for the Colombian economy. The study discusses the unemployment and stresses in the financial system and also focuses on fiscal issues. The following statistical data are presented in detail: national accounts at current prices and at constant prices, savings and investment, value of agricultural crops, mining production, structure of regular gasoline prices, indicators of construction activity, minimum wages, producer price index, interest rates, and so on.
International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 22 pages File Size : 47,5 Mb Release : 2022-06-03 Category : Business & Economics ISBN : 9798400212239
Colombia: Financial Sector Assessment Program-Technical Note on Macroprudential Framework Policy and Tools by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf
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.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 27 pages File Size : 43,5 Mb Release : 2023-08-28 Category : Business & Economics ISBN : 9798400254765
Colombia by International Monetary Fund. Monetary and Capital Markets Department Pdf
The financial stability report (FSR) of the Banco de la República of Colombia (BR) provides broad coverage of macroeconomic environment and the assessment of risks in the financial system. The biannual report is considered as one of the main sources of data and information on financial stability in Colombia, and the BR makes presentation on the key messages to the public at the time of the publication. It also plays an important role in a broader framework of systemic risk monitoring—it is presented to the financial security network, which is a set of entities that share a financial stability objective. The BR, Financial superintendency of Colombia, Fogafin and the Ministry of Finance are members.
Financial Inclusion, Growth and Inequality by Ms.Izabela Karpowicz Pdf
Financial inclusion has been one of the key pillars of Colombia’s development strategy for a number of years. Financial inclusion policies have aimed at channeling microcredit to poor, spreading formal banking system usage, fostering electronic payment acceptance, and making financial services more affordable. Using simulations from a general equilibrium model it is possible to identify the most binding financial sector frictions that preclude financial inclusion of enterprises, and study the effects on growth and inequality of efforts to remove these frictions. The study finds that lowering contraints on collateral promises higher growth while inequality is better tackled through measures that lower the financial participation cost.
International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 55 pages File Size : 45,5 Mb Release : 2022-04-04 Category : Business & Economics ISBN : 9798400206634
Colombia: Financial System Stability Assessment by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf
The pandemic led to Colombia’s largest recession on record, but the economy bounced back strongly in 2021. The banking system has so far weathered the shock well, with the help of a strong policy and support response and strong initial position. Colombia is exposed to elevated external financing risks and the further prolongation of the pandemic. Large and complex financial conglomerates with increasing cross-border exposures dominate the financial system. The consumer-credit portfolio deserves attention as it has been growing fast and had high impairment rate during the pandemic.
International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 88 pages File Size : 53,5 Mb Release : 2022-06-03 Category : Business & Economics ISBN : 9798400212352
Colombia: Financial Sector Assessment Program-Technical Note on Risk Analysis by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf
The Financial Sector Assessment Program (FSAP) risk analysis work was conducted in the aftermath of the initial COVID shock and subsequent lockdowns, and while a strong economic recovery was underway in Colombia during 2021. Given the persistent uncertainty around the evolution of the COVID-19 virus, and for the trajectory of the economic recovery, the outlook remained subject to significant revisions throughout the year. While the workstreams took the latest macroeconomic and supervisory data updates into account as much as possible for the various analyses, the test results and their implications should be interpreted with caution due to high uncertainty around the central projections and downside risks.
