Colombia makes annual risk study public
Colombia's financial services watchdog Superfinanciera said it will publish on an annual basis its analyses of the risks and supervision priorities facing each of the sectors it oversees.
Superfinanciera said the decision to begin making the document public is in line with international best practice.
"This in-depth study, of the environment of each of the industries that are regulated, permits the assessment of the different risk factors that could become a threat to the stability of the financial system, in order to be able to anticipate them and so that entities make the requisite adjustments," a statement said.
Key overarching risks identified in the 2019 report include those associated with cybersecurity and digital transformation and country credit ratings.
The watchdog said the "fragility" of the macroeconomic fundamentals of Central American economies also constituted a risk. Around 26% of the assets held by the Central American banking system correspond to Colombian-held entities.
Superfinanciera cited as examples Costa Rica and Nicaragua and the issues of their public debt piles and current account deficits.
Climate change is also listed as a risk.
Superfinanciera oversees players in the country's financial intermediation, insurance, pensions, trusts, broking, market infrastructure, and securities-issuing sectors.
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