On November 26, the Colombian Superintendence of Finance (SFC) published a draft resolution on the adequate level of capital of financial conglomerates. The draft stipulates that the adequate level of capital of a financial conglomerate will be established in accordance with the definition of the basis, regime and minimum levels for the calculation of the technical and adequate equity of each conglomerate. The document will be open for comments until December 5 via [email protected], after which the final resolution is expected to be published in the Official Gazette.

The draft also outlines endowment related items in terms of the conglomerate’s technical equity.  To this end, it is stated that financial entities that are part of a financial conglomerate will have until November 8, 2019 to provide the SFC with the necessary data to carry out these instructions. Finally, an adjustment plan has been structured in the event that the technical equity of the conglomerate is less than its adequate equity.