The main findings point to a shift in the trend in housing demand: the recovery observed through the first quarter of 2026 was reversed amid high mortgage interest rates resulting from fiscal pressures on public debt yields. Meanwhile, the supply of new housing continues to contract, mainly…
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This report analyzes various indicators used to measure concentration in credit and deposit markets in Colombia and selected peer jurisdictions (Mexico, Peru, and Chile). In addition, recognizing that the relationship between concentration, competition, and market power is not straightforward,…
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This special report analyzes the main sources of market risk for the domestic financial system, highlighting vulnerabilities arising from financial institutions’ exposure to public debt, private debt, and stock markets. Although the short-term risks observed during the first months of 2026 have…
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Participants in the Colombian financial system maintain significant exposures to Central American jurisdictions, making it important to monitor these exposures from a financial stability perspective. Colombian banks’ foreign exposure is concentrated in Central America through 10…
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Inflation continued to rise during the third quarter of the year, driven mainly by high labor costs, spending that remains above the economy’s productive capacity, the effects of the El Niño phenomenon on prices, and adjustments to some services that are…
- Publicación |Exposure of the economy and the financial system to natural phenomenaThe El Niño phenomenon and the August earthquake could affect economic activity and place additional pressures on prices and public spending.Most credit institutions have limited exposure to the areas affected by the earthquake.
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- Publicación |Financial Market Infrastructures in ColombiaPayment Infrastructure in Financial MarketsIn 2025, Banrep’s large-value payment system, the Deposit Accounts System (CUD, for its acronym in Spanish), exhibited greater activity. The average daily value of settled transactions increased by 19.5% compared…
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The escalation of geopolitical conflicts has heightened global uncertainty and adversely affected markets, economic growth, and inflation.
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Inflation continued to rise in the first months of the year and moved further away from its target, driven by higher labor costs, strong domestic demand, and disruptions in the production of some goods. Additional increases in inflation are expected throughout the year; however, monetary…
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The dynamics of the primary markets in which the financial system participates (e.g., credit, deposits, and fund management, among others) are intricately connected to the performance of the household sector, given its significant role in each of these areas. This report is created considering…
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The Colombian real estate market is experiencing a recovery in demand that contrasts with lagging supply, amid tighter financial conditions and localized risks to the sector's stability. In 2025, the Colombian economy grew by 2.6%, while the construction sector’s GDP contracted by 2.8% year-on…
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This Special Financial Stability Report updates and expands the analysis of the performance of the loan portfolio and credit risk of credit institutions presented in the…
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Exposure of financial intermediaries to an environment of tighter local financial conditions:
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In 2025, inflation stopped declining and remained above the 3% target. It is expected to rise to 6.3% in 2026 and then fall to 3.7% by December 2027, within a context of excess demand, solid economic growth, high employment levels, and increased labor costs in 2026.
- Publicación |Main Characteristics of Banco de la República’s Reserves Management PolicyReserves are invested in financial assets with high levels of safety and liquidity, characterized by a large secondary market.The percentage of reserves that remains available to cover immediate liquidity needs, known as…
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Between March and September 2025, global financial markets showed signs of recovery. However, uncertainty persists due to high global debt, trade tensions, and geopolitical conflicts.
- Publicación |Main characteristics of Banco de la República's reserves management policyReserves are invested in financial assets with high levels of safety and liquidity, characterized by a large secondary market.The percentage of reserves that remains available to cover immediate liquidity needs, called…
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Prices increased more than expected during the third quarter of the year. However, inflation is still expected to decrease in 2026 and fall within the range of 2 % to 4 %, continuing to approach the 3 % target, but at a somewhat slower pace. It is estimated that inflation will be at 5.1…
- Publicación |Deterioration of the Local Fiscal Situation
A weaker fiscal position can increase the economy’s vulnerability to external shocks and limit the scope for policy responses. This vulnerability may translate into higher risks for the financial system.
