Financial Stability Report - December 2003
The main purpose of these documents is to provide semiannual information on the vulnerabilities and risks of the financial system. The views presented and potential errors are the sole responsibility of the authors and their contents do not compromise the Board of Directors of Banco de la República
The July 2003 Financial Stability Report stated that the pick-up in credit growth resulted from positive behavior by both credit supply and credit demand. These developments intensified over the second half of 2003 and, combined with a more favorable external environment, allowed the financial system to continue growing stronger and the credit business to keep on accelerating.