Colombia: Financial Sector Assessment Program-Technical Note on Macroprudential Framework Policy and Tools
IMF Staff Country Reports, June 3, 2022
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- Colombia: Financial Sector Assessment Program-Technical Note on Macroprudential Framework Policy and Tools
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Bibliographic details
- Published: June 3, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400212239.002
Institutional framework and recent changes
- 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.
Coverage and supervisory responsibilities
- The SFC supervises asset managers and insurance companies.
- There is no formal macroprudential oversight framework for asset managers and insurance companies.
Key subjects and keywords (as provided)
- 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
Content in this bundle
- Executive Summary