reports OFC data to STA covering foreign financial institutions (offshore banks) only, representing 0.01 p er cent of total other depository corporations (ODC) assets in December 2018. 3. The mission assisted the BCU to develop standardized data for OFC using SRF 4SR, to close a key data gap . The inclusion of data for IC, PF, and CAC will allow: (i) the compilation of the financial corporations’ survey with expanded financial sector coverage in line with the MFSMCG and (ii) improved balance sheet analysis (BSA) by allowing inter-sectoral financial analysis and
inclusion of the OFCs—with more than 7.6 trillion pesos in total assets, a preliminary estimate, which represents around 25 percent of the total assets in the financial system—in the coverage of MFS will result in an improved integrated monetary database (IMD) . The IMD will be used for national publications and to release data to the IMF’s Asia Pacific Department (APD) and STA, ensuring consistency of the disseminated data. The BSP agreed to start disseminating the new OFC data on a quarterly basis starting in September 2019, with historical series available since the
. However, the last reported OFC data are for December 2014. This delay in reporting is due to an ongoing review of the SFC and efforts to map the former to the International Financial Reporting Standards (IFRS). The classification of financial instruments and economic sectors follows the MFSM. Financial Sector Surveillance: Colombia has reported Financial Soundness Indicators (FSI) beginning from 2005 up to 2018. Colombia reports all (except one) core and all (except one) encouraged Financial Soundness Indicators (FSI) for deposit takers on a regular monthly basis