Conclusions from the 98th Session of the Financial System Coordination and Monitoring Committee
At its 98th session held on Thursday, 8 October 2026, the Financial System Coordination and Monitoring Committee analyzed the main trends and outlook for the financial system, using information updated as of August 2026, as well as the most relevant risks that the system could face. The session was chaired by the Minister of Finance and Public Credit and attended by the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, the Director of the Financial Institutions Guarantee Fund (Fogafín in Spanish), and, as a guest, the Acting Director of the Unidad de Proyección Normativa y Estudios de Regulación Financiera – URF (Financial Regulatory Unit).
The Committee members highlighted that, during the first half of 2026, credit institutions reported adequate capital and liquidity prudential indicators above regulatory minimums, thereby maintaining a sound position.
The loan portfolio, the main asset of credit institutions, continued to grow in real terms, although at a slower pace than that observed in previous months, due to the slowdown in corporate and consumer loan portfolios. Although delinquency indicators remained low, the upward trend in the non-performing loan portfolio observed across all types of loans is being monitored.
As part of its risk assessment, the Committee noted that a potential escalation of geopolitical conflicts, a tightening of international financial conditions, and increased volatility in financial markets, combined with significant domestic fiscal challenges, could increase the financial system’s exposure to market risk. In this scenario, the Committee considered it essential to strengthen the monitoring of such exposure in both credit institutions and non-banking financial institutions.
The Committee also analyzed factors that could lead to further deterioration in the loan portfolio and, consequently, affect the sector’s profitability and credit growth. In particular, it examined the situation arising from the earthquake on 10 August and concluded that financial exposures in the affected areas account for a small share of the loan portfolio; therefore, no significant risks that could threaten financial stability were identified.
The role of the insurance sector should also be highlighted, as it has maintained a strong capital position following the event, continues to handle claims, and has demonstrated an adequate response capacity. In addition, the measures adopted by the sector itself and the entities responsible for the management and reconstruction process, as well as those implemented by the Financial Superintendency of Colombia through External Circular 007 of 2026, are expected to mitigate the effects of the disaster on the affected population’s ability to meet its financial obligations and access financial services.
Finally, the Committee expressed its commitment to coordinating the necessary actions to support the transition from the Fixed-Term Deposit interest rate (DTF in Spanish) to the Benchmark Banking Indicator (IBR in Spanish), which better reflects money market conditions. It also highlighted the need for financial institutions to adopt the necessary measures in a timely manner to complete this transition. All of this takes into account the fact that the DTF will cease to be calculated as of 1 January 2027.
For further information on the main trends and risks in the financial system, please refer to the following reports:
