-  At the same time, this flexibility allowed the central bank to maintain the liquidity of the financial system in a period of stress. Our challenge ahead consists of carefully examining our financial regulatory framework to shore up some aspects such as countercyclical provisioning and bank capital requirements.
Simultaneously, we must strive to enhance financial deepening and enlarge the set of financial instruments available to Colombian firms and households. However, we must do so without significantly increasing systemic risk or depriving policymakers of the tools they need to face shocks.