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This Financial Stability Report (FSR) presents the Central Bank’s appreciation on the recent performance of credit institutions and their debtors, as well as on the main risks and vulnerabilities that could affect the financial stability of the Colombian economy. The FSR is intended to keep both…

In the third quarter of 2018, inflation rose less than expected by analysts and the Central Bank’s technical st

Banco de la República (the Central Bank of Colombia) produces information intended for decision-making and accountability processes as well as for public knowledge. In particular, the Financial Markets Report responds to the principle of public dissemination, thus contributing to the Bank’s service…

Banco de la República (the Central Bank of Colombia) produces information intended for decision-making and accountability processes as well as for public knowledge. In particular, the Financial Markets Report responds to the principle of public dissemination, thus contributing to the Bank’s service…

Banco de la República (the Central Bank of Colombia) produces information intended for decision-making and accountability processes as well as for public knowledge. In particular, the Financial Markets Report responds to the principle of public dissemination, thus contributing to the Bank’s service…

Banco de la República (the Central Bank of Colombia) produces information intended for decision-making and accountability processes as well as for public knowledge. In particular, the Financial Markets Report responds to the principle of public dissemination, thus contributing to the Bank’s service…

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Colombia consistently exhibits one of the lowest levels of productivity in Latin America in relative terms compared to developed countries. Between 1951 and 2015, Colombia's total factor productivity is, on average, just a little more than half that of the United States. This immense gap in…

For the last decade, Banco de la República has provided oversight of the local financial infrastructure as an additional contribution to support the country’s financial stability. This is a function performed by most central banks the world over, because they recognize infrastructure as being an…

This is the Statistical Annex of a new publication by the Governor of the Central Bank of Colombia. It is addressed to citizens, analysts, and domestic and foreign investors interested in learning about the most recent events in the Colombian economy, and their implications for monetary policy…

This special report analyzes the combined dynamics of the real estate market in Colombia and housing credit to identify potential sources of risk that could affect financial stability. In particular, the performance of variables associated with the prices of housing, their financing, the levels of…

Monitoring credit risk is essential to preserve the stability of the financial system. For each type of loan the analysis presented in this report uses indicators such as quality risk, non-performing loans indicator (ICM in Spanish), quality indicator by risk for transactions, non-performing loans…

The analysis of household debt has become more relevant in recent years due to the increased exposure of credit institutions to this sector, which is at the highest levels recorded in the last decade. As of April 2019, 43.7% of the portfolio of those institutions was allocated to households. In…

Financial inclusion is the process of integrating financial services into the daily economic activities of the population, which can contribute to economic growth to the extent that it reduces financing and transaction costs and offers secure and efficient management of resources. The measurement…

Monitoring the liquidity conditions in the financial markets allows to identify the potential contingencies that an institution may face when accessing or granting resources that, in turn, may threaten the stability of the financial system if a significant proportion of transactions depends on the…

The purpose of this report is to measure the transmission of volatility present among public debt, private debt, and stock markets to identify whether a market was either a generator or a receiver of volatility at a given point in time. Subsequently, the overnight value at risk (VaR) of the…

This Financial Stability Report presents the appreciation of Banco de la República (the Central Bank of Colombia) on the recent performance of credit institutions and their debtors, as well as on the main risks and vulnerabilities that could have some effect on the financial stability of the…

The Board of Directors of the Central Bank, as per the provisions of Article 5 of Law 31 of 1992, submits a report to the Congress of the Republic that describes the macroeconomic performance for the first half of 2019 and its prospects for the remainder of the year. The last two chapters report on…

Editor’s Note Banco de la República is currently in the process of modernizing its Inflation Report with the goal of communicating an analysis of economic conditions and forecasts for the economy in a better way. For that reason, as of the October edition, the report will be structured as…

In March, inflation stood at 3.21% (graph A) and the average of core inflation indicators is 2.82%. These figures are lower than was expected a quarter ago and close to the 3.0% inflation target. The lower actual inflation versus the forecast is explained mainly by tradables (0.9%) and non-…

In compliance with Article 5, Act of Congress 31/1992, the Board of Directors of Banco de la República hereby submits to the Congress of the Republic of Colombia a report on the macroeconomic results for 2018 and the outlook for 2019 for its consideration. In the following chapters, the breakdown…