The Superintendency of Banks (SB) launched a new risk-based banking supervision framework, which strengthens monitoring and early warning mechanisms.
In this way, the institution achieves the strategic goal of leaving behind compliance-based supervision, to implement a risk-based model, which has a greater scope, given that it is based on a forward-looking vision.
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The improvements applied to the supervisory framework include the incorporation of new principles of good banking practices, the expansion of the criteria for evaluating the risk profiles of entities, the classification of prevention of money laundering and terrorist financing as a significant activity, and the inclusion of liquidity as a financial resource.
The framework was presented during a virtual seminar, led by the Superintendent of Banks, Alejandro Fernandezin which 508 representatives of supervised financial intermediation entities and the associations that group them participated.
This methodology is based on a proactive rather than a reactive approach, taking into account the assessment of the impact of risks and the probability of their materialization.
To improve the supervision methodology, whose previous version dated back to 2013the SB was supported by the Toronto Centre, an international reference institution in the field of banking supervision.
