dc.audience	Policymakers	eng
dc.audience	Researchers	eng
dc.audience	Teachers	eng
dc.audience	Students	eng
dc.coverage.sucursal	Bogotá	spa
dc.creator	Office of the Deputy Technical Governor
dc.creator	Vargas-Herrera, Hernando
dc.creator	Office for Monetary Operations and International Investments
dc.creator	Murcia-Pabón, Andrés
dc.creator	Financial Stability Department
dc.creator	Quicazán-Moreno, Carlos Andrés
dc.creator	Liquidity Support and Risk Control Section
dc.creator	Patiño-Echeverri, Lina Vanessa
dc.creator	Systemic Risk Surveillance Section
dc.creator	Mariño-Montaña, Juan Sebastián
dc.creator	Cely-Fernández, Jorge Humberto
dc.creator	Chipatecua-Peralta, Orlando
dc.creator	Clavijo-Ramírez, Felipe
dc.creator	Cuesta-Mora, Diego Fernando
dc.creator	Escobar-Villarraga, Mariana
dc.creator	Gómez-Molina, Andrés Camilo
dc.creator	Gualtero-Briceño, Daniela
dc.creator	Meneses-González, María Fernanda
dc.creator	Narváez, Alida
dc.creator	Piñeros-Gordo, José Hernán
dc.creator	Pirateque-Niño, Javier Eliecer
dc.creator	Rodríguez-Novoa, Daniela
dc.creator	Rozada-Najar, Angie
dc.creator	Sánchez-Quinto, Camilo Eduardo
dc.creator	Sarmiento-Paipilla, Néstor Miguel
dc.creator	Yanquen, Eduardo
dc.date.accessioned	2024-09-04T18:35:06Z	spa
dc.date.available	2024-09-04T18:35:06Z	spa
dc.date.created	2024-09-04	spa
dc.description.abstract	Banco de la República’s main goal is to preserve the purchasing power of the currency in coordination with the general economic policy that is intended to stabilize output and employment at long-term sustainable levels. Properly meeting the goal assigned to the Bank by the 1991 Constitution critically depends on preserving financial stability. This is understood to be a general condition in which the financial system channels domestic savings and evaluates and manages the financial risks in a way that facilitates the performance of the economy and efficient allocation of resources while, at the same time, it is able to, on its own, absorb, dissipate, and mitigate the appearance of risks that may arise as a result of adverse events. Banco de la República’s Financial Stability Report provides a diagnosis of the financial system’s and its debtors’ recent performance and indicates the main risks and vulnerabilities that could have an effect on the stability of the Colombian economy. The objective is to share this information with the financial market participants and the public and encourage public debate on trends and risks that affect the system. The results presented here also serve the monetary authority as a basis for making decisions that will enhance financial stability. The analysis presented in this edition of the Report makes it possible to conclude that the Colombian financial system has liquidity and capital adequacy levels that are not only above those required by internationally accepted parameters but would even be sufficient to face the occurrence of extreme low-probability risks. In particular, during the last six months, the aggregate capital adequacy of credit institutions rose 22 basis points and reached 18.1% in February 2023. The liquidity coverage ratio indicator and the net stable funding ratio, in turn, were 202.0% and 111% and thus well above the regulatory minimums of 100%. The period of analysis in this Report includes the period of stress that occurred in the U.S. regional bank segment and at Credit Suisse and caused nervousness regarding possible risks to global financial stability. The characteristics and risks that generated problems in those entities are analyzed in this Report and the Colombian financial system is evaluated considering different sources of vulnerability. Some characteristics that protect the Colombian financial system are: (i) a cautious balance sheet structure on both the asset and liability sides of the entities; (ii) the widespread practice of valuing the investment portfolio at market prices, and (iii) the appropriate management of liquidity risk. In line with a higher interest-rate scenario and a slowdown in local economic activity, the credit growth rate has slowed down in recent months while there have been signs of deterioration in the loan portfolios. Credit, which had been exhibiting excessively high growth levels last year, especially in the consumer category, has slowed down while past-due and risky loans have rebounded. This is also driven mainly by the consumer portfolio which is reflecting the growth in risks assumed by financial institutions in previous quarters. In spite of the lower portfolio performance seen currently and projected for the future, the high level of household indebtedness in Colombia, especially in the consumer segment, continues to be considered a source of vulnerability for the Colombian financial system as was the case in the previous edition of this Report (see section 2.2.1). Nevertheless, the financial system continues to reflect soundness and stability: credit institutions (CIs) are keeping liquidity and capital adequacy indicators well above the minimums established by regulation while nonbanking financial institutions (NBFIs) have registered an increase in their profits.The adjustments in the monetary policy stance since September 2021, the effect of the macroprudential measures implemented by the Office of the Financial Superintendent of Colombia (FSC) at the end of last year associated with a higher requirement in terms of loan loss provisions, and stricter conditions in the allocation of loans by CIs are behind the projection of a loan portfolio growth rate that is likely to continue declining in the coming months. 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 necessary to ensure the proper functioning of the economy, facilitate sustainable flows of sufficient credit and liquidity funds, and further the smooth functioning of the payment system.	eng
dc.format.extent	109 páginas : gráficas, tablas	spa
dc.format.mimetype	PDF	spa
dc.identifier.handle	https://hdl.handle.net/20.500.12134/10929	spa
dc.identifier.uri	https://repositorio.banrep.gov.co/handle/20.500.12134/10929	spa
dc.language.iso	eng	eng
dc.publisher	Banco de la República	spa
dc.relation.anxdoi	https://doi.org/10.32468/rept-estab-fin.sem1.eng-2023.box1	spa
dc.relation.anxdoi	https://doi.org/10.32468/rept-estab-fin.sem1.eng-2023.box2	spa
dc.relation.anxdoi	https://doi.org/10.32468/rept-estab-fin.sem1.eng-2023.box3	spa
dc.relation.doi	https://doi.org/10.32468/rept-estab-fin.sem1.eng-2023	spa
dc.relation.ispartof	Reportes, Boletines e Informes	spa
dc.relation.ispartofseries	Reporte de Estabilidad Financiera	spa
dc.relation.issn	PENDING	spa
dc.relation.isversionof	Financial Stability Report - First Half of 2023	eng
dc.relation.number	FER - Fist Half 2023	eg
dc.relation.shortdoi	https://doi.org/nf6j	spa
dc.rights.Habeas	Datos 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.Objeto	Objeto 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.accessRights	Open Access	eng
dc.rights.cc	Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0	spa
dc.rights.spa	Acceso abierto	spa
dc.rights.uri	https://creativecommons.org/licenses/by-nc-sa/4.0/	eng
dc.subject	Instituciones financieras	spa
dc.subject	Riesgo	spa
dc.subject	Crédito	spa
dc.subject	Bancos extranjeros	spa
dc.subject	Colombia	spa
dc.subject.brtema	8. Sector monetario y financiero
dc.subject.jel	F65 - Economic Impacts of Globalization: Finance	eng
dc.subject.jel	G20 - Financial Institutions and Services: General	eng
dc.subject.jel	G29 - Financial Institutions and Services: Other	eng
dc.subject.jelspa	F65 - Impactos económicos de la globalización: Finanzas	spa
dc.subject.jelspa	G20 - Instituciones y servicios financieros: Generalidades	spa
dc.subject.jelspa	G29 - Instituciones y servicios financieros: Otros	spa
dc.subject.keyword	Financial institutions	eng
dc.subject.keyword	Risk	eng
dc.subject.keyword	Credit	eng
dc.subject.keyword	Foreign banks	eng
dc.subject.keyword	Colombia	eng
dc.subject.lemb	Estabilidad financiera -- Colombia -- 2023 -- Informes	spa
dc.subject.lemb	Banco de la República (Bogotá) -- 2023 - Informes	spa
dc.subject.lemb	Sistema financiero -- Evaluación -- Colombia -- 2023 -- Informes	spa
dc.subject.lemb	Regulación bancaria -- Colombia -- 2023 -- Informes	spa
dc.title	Financial Stability Report - First Half of 2023	eng
dc.type	Report	eng
dc.type.hasversion	Published Version	eng
dc.type.spa	Informe	spa

Financial Stability Report - First Half of 2023

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