Conclusions of the Financial System Coordination and Monitoring Committee - Session No. 81

At the meeting held today between the Minister of the Treasury and Public Credit, the  Governor of Banco de la República, the Financial Superintendent, and the director of the Financial Institutions Guarantee Fund - (Fogafín in Spanish) along with the director of the Financial Regulatory Unit - (URF in Spanish), the data on the closure of credit establishments in 2021 was analyzed and showed that the credit, market, and liquidity indicators are performing satisfactorily and in line with the economic recovery.

The members of the Committee agreed that the performance of the financial system demonstrates that credit institutions have sufficient capital adequacy and liquidity to continue granting financing to households and companies. Likewise, the effects of financial market volatility are mitigated by the limited duration of their investment portfolios.

Last of all, they concluded that the Colombian banks had weathered the pandemic remarkably well, and that the financial system remained strong. The support measures introduced in 2020 to help debtors during the pandemic have been successfully reversed, and their effects have already been fully revealed on the balance sheets of credit establishments.