Colombia: Technical Assistance Report—Assessment of Financial Stability Report

International Monetary Fund

No 2023/313, IMF Staff Country Reports from International Monetary Fund

Abstract: This technical assistance report focuses on Assessment of Financial Stability Report (FSR) in Colombia. The 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 current structure of the FSR appears to work well in covering a range of relevant risks and vulnerabilities as well as topical issues, but there is room for evolution. Efforts to expand forward-looking analyses should continue, including stress testing and sensitivity analyses of the corporate and household sectors and on interconnectedness. A layered communication approach would help adapt the key messages of the FSR to audiences with different levels of expert knowledge and interest. There would be clear gains in deepening the understanding of the channels and interaction between financial stability and monetary policy as the financial system continues to evolve. Enhancing knowledge sharing between staff working on financial stability and monetary policy and further improving information about the sensitivity of various vulnerabilities in the FSR would help monetary policy decision makers, which in turn may have a positive feedback effect on financial stability.

Keywords: IMF Monetary; MCM department; staff team of the International Monetary Fund; Banco de la República of Colombia; FSR report; Financial sector stability; Stress testing; Financial sector risk; Market risk; Financial sector; Global; Central America (search for similar items in EconPapers)
Pages: 27
Date: 2023-08-28
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