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Financial Stability Report - First Semester of 2020

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dc.audiencePolicymakerseng
dc.audienceResearcherseng
dc.audienceTeacherseng
dc.audienceStudentseng
dc.coverage.sucursalBogotáspa
dc.creatorBanco de la República de Colombia
dc.creatorEchavarría, Juan José
dc.creatorOffice of the Deputy Technical Governor
dc.creatorVargas-Herrera, Hernando
dc.creatorOffice for Monetary Operations and International Investments
dc.creatorCardozo-Ortiz, Pamela Andrea
dc.creatorFinancial Stability Department
dc.creatorOsorio-Rodríguez, Daniel Esteban
dc.creatorSystemic Risks Assessment Section
dc.creatorCabrera-Rodríguez, Wilmar-Alexander
dc.creatorLiquidity Support and Risk Control Section
dc.creatorCardozo-Alvarado, Nathali
dc.creatorCely-Fernández, Jorge Humberto
dc.creatorClavijo-Ramírez, Felipe
dc.creatorGamba-Santamaría, Santiago
dc.creatorGómez-Molina, Andrés Camilo
dc.creatorGualtero-Briceño, Daniela
dc.creatorMariño-Montaña, Juan Sebastián
dc.creatorMeneses-González, María Fernanda
dc.creatorNarváez, Alida
dc.creatorRodríguez-Novoa, Daniela
dc.creatorSánchez-Quinto, Camilo Eduardo
dc.creatorSarmiento-Paipilla, Néstor Miguel
dc.creatorSegovia-Baquero, Santiago David
dc.creatorYanquen, Eduardo
dc.date.accessioned2021-03-03T21:45:48Zspa
dc.date.available2021-03-03T21:45:48Zspa
dc.date.created2021-03-03spa
dc.description.abstractIn the face of the multiple shocks currently experienced by the domestic economy (resulting from the drop in oil prices and the appearance of a global pandemic), the Colombian financial system is in a position of sound solvency and adequate liquidity. At the same time, credit quality has been recovering and the exposure of credit institutions to firms with currency mismatches has declined relative to previous episodes of sudden drops in oil prices. These trends are reflected in the recent fading of red and blue tonalities in the performance and credit risk segments of the risk heatmaps in Graphs A and B.1 Naturally, the sudden, unanticipated change in macroeconomic conditions has caused the appearance of vulnerabilities for short-term financial stability. These vulnerabilities require close and continuous monitoring on the part of economic authorities. The main vulnerability is the response of credit and credit risk to a potential, temporarily extreme macroeconomic situation in the context of: (i) recently increased exposure of some banks to household sector, and (ii) reductions in net interest income that have led to a decline in the profitability of the banking business in the recent past. Furthermore, as a consequence of greater uncertainty and risk aversion, occasional problems may arise in the distribution of liquidity between agents and financial markets. With regards to local markets, spikes have been registered in the volatility of public and private fixed income securities in recent weeks that are consistent with the behavior of the international markets and have had a significant impact on the liquidity of those instruments (red portions in the most recent past of some market risk items on the map in Graph A). In order to adopt a forward-looking approach to those vulnerabilities, this Report presents a stress test that evaluates the resilience of credit institutions in the event of a hypothetical scenario thatseeks to simulate an extreme version of current macroeconomic conditions. The scenario assumes a hypothetical negative growth that is temporarily strong but recovers going into the middle of the coming year and has extreme effects on credit quality. The results suggest that credit institutions have the ability to withstand a significant deterioration in economic conditions in the short term. Even though there could be a strong impact on credit, liquidity, and profitability under the scenario being considered, aggregate capital ratios would probably remain at above their regulatory limits over the horizon of a year. In this context, the recent measures taken by both Banco de la República and the Office of the Financial Superintendent of Colombia that are intended to help preserve the financial stability of the Colombian economy become highly relevant. In compliance with its constitutional objectives and in coordination with the financial system’s security network, Banco de la República will continue to closely monitor the outlook for financial stability at this juncture and will make the decisions that are necessary to ensure the proper functioning of the economy, facilitate the flow of sufficient credit and liquidity resources, and further the smooth functioning of the payment system. Juan José Echavarría Governoreng
dc.format.extent88 páginas : gráficas, tablasspa
dc.format.mimetypePDFspa
dc.identifier.handlehttps://hdl.handle.net/20.500.12134/9984spa
dc.identifier.urihttps://repositorio.banrep.gov.co/handle/20.500.12134/9984spa
dc.language.isoengeng
dc.publisherBanco de la Repúblicaspa
dc.relation.doihttps://doi.org/10.32468/rept-estab-fin.1sem.eng-2020spa
dc.relation.ispartofReportes, Boletines e Informesspa
dc.relation.ispartofseriesReporte de Estabilidad Financieraeng
dc.relation.issn2145-650Xspa
dc.relation.isversionofFinancial Stability Report - I Semester 2020eng
dc.relation.shortdoihttps://doi.org/fx2xspa
dc.rights.HabeasDatos personales: El(los) autor(es) ha(n) incluido sus datos personales (nombres, correo electrónico, cargo, entre otros) en el Reporte, informe o boletín y por consiguiente, manifiesta(n) que mediante el diligenciamiento y registro de sus datos personales autoriza(n) al Banco de la República el tratamiento (recolección, almacenamiento, uso, circulación o supresión) de todos los datos suministrados con la finalidad de adelantar la publicación del documento en el Repositorio Institucional, dar a conocer su medio de contacto para fines académicos y divulgativos, así como para la construcción de indicadores y estadísticas para el seguimiento y control de las actividades de divulgación del Portal del Banco de la República. Para tal fin, se informa que el tratamiento de los datos personales se realizará de acuerdo con las políticas o lineamientos generales disponibles en http://www.banrep.gov.co/proteccion-datos-personales, en la sección “Protección de Datos Personales - Habeas Data”.spa
dc.rights.ObjetoObjeto de publicación: La obra de mí (nuestra) autoría tiene por objeto ser publicada en el Portal del Banco de la República e incluirla en el repositorio institucional de esa misma entidad. La obra podrá consistir en documento escrito, audiovisual, audio, gráfico, fotográfico, infográfico, podcasts, etc., y podrá estar en cualquier formato conocido o por conocerse.spa
dc.rights.accessRightsOpen Accesseng
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0spa
dc.rights.spaAcceso abiertospa
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/eng
dc.subjectInstituciones financierasspa
dc.subjectRiesgospa
dc.subjectCréditospa
dc.subjectBancos extranjerosspa
dc.subjectColombiaspa
dc.subject.jelF65 - Economic Impacts of Globalization: Financeeng
dc.subject.jelG20 - Financial Institutions and Services: Generaleng
dc.subject.jelG29 - Financial Institutions and Services: Othereng
dc.subject.jelspaF65 - Impactos económicos de la globalización: Finanzasspa
dc.subject.jelspaG20 - Instituciones y servicios financieros: Generalidadesspa
dc.subject.jelspaG29 - Instituciones y servicios financieros: Otrosspa
dc.subject.keywordFinancial institutionseng
dc.subject.keywordRiskeng
dc.subject.keywordCrediteng
dc.subject.keywordForeign bankseng
dc.subject.keywordColombiaeng
dc.subject.lembEstabilidad financiera -- Colombia -- 2020 -- Informesspa
dc.subject.lembBanco de la República (Bogotá) -- 2020 -- Informesspa
dc.subject.lembSistema financiero -- Evaluación -- Colombia -- 2020 -- Informesspa
dc.subject.lembRegulación bancaria -- Colombia -- 2020 -- Informesspa
dc.titleFinancial Stability Report - First Semester of 2020eng
dc.title.alternativeReporte Estabilidad Financiera - Primer Semestre de 2020spa
dc.typeReporteng
dc.type.hasversionPublished Versioneng
dc.type.spaReportespa

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Reporte de Estabilidad Financiera