own Financial Supervision would be urging banks to make those decisions to lay hands on more money in the coming year. The idea is to secure money in a year in which there will possibly be a recession in Colombia.
This decision is made within the framework of an economic crisis that has led to the increase of inflation in the country and a resounding devaluation of the Colombian peso against the dollar.
“The Financial Superintendency will require banks to make an additional provision for each long-term consumer loan, to avoid problems in the slowdown of 2023,” he explained. Changeabout the move that the banks would implement next year.
This medium adds that the Superfinanciera is putting pressure on the banks so that they are not affected money reserves in 2023 and therefore strengthen the cushion of money.
“The financial system has several provisions or buffers to avoid a crisis in case, in an abnormal situation, many of the consumers are unable to meet their financial obligations“added that portal.
This decision to implement new forms of credits for 2023 It can be translated very easily: more debt for people who take long-term loans.
“The problem of extending credit terms, or credit card installments, as well as delivering credits of consumption with terms that from the beginning are longer, is that consumers have smaller installments each month, but accumulate more debts”, stressed Cambio.
Banks They exceeded the usury rate and have their clients on edge
after knowing the data of 41.46% for the usury rate in Colombiain the month of December 2022, it is confirmed that It is the first time that such a high number has been reached, since 2007.
The usury rate is the limit or maximum value that banks can charge for interest to a person for a loan, either with a card or a free investment loan.
According to the Financial Superintendence, he incurs the crime of usury who receives directly or indirectly in exchange for a loan of money, or for the sale of goods and services in installments, utility or advantage that exceeds by half the Current Bank Interest that the banks are charging.