Colombia's Finance Ministry has launched a consultation on recently published draft rules to bring solvency requirements in the South American country in line with Basel III.
The consultations are expected to end on June 18.
The draft rules, which are meant to strengthen the financial system with "complementary tools," establish that in addition to the minimum solvency ratio of 4.5%, banks must present an additional capital ratio of 6% and a leverage ratio of 3%.
The proposal also has a chapter which would make companies within the financial system cushion against risks with additional capital.
Representative of Colombia's banking association Asobancaria told El Portafolio it was still studying the government's proposal and would "soon make comments" on the draft.
