The Financial Superintendency of Colombia issued instructions for supervised entities to mitigate the effects of the disaster situation on affected financial consumers. The measures cover loan refinancing, additional payment relief, access to new credit, insurance services and continued access to financial channels. Affected borrowers may receive longer repayment terms and adjusted conditions that are no more burdensome, as well as grace periods, special rates, revised amortization schedules and the suspension or forgiveness of interest and prelegal collection charges. For refinanced loans, entities may temporarily maintain credit ratings and suspend negative reporting for up to 12 months, without treating the loans prudentially as modified or restructured. Lenders may also use alternative information, expected income and recovery prospects when assessing repayment capacity and offering new credit. Supervised entities must facilitate premium payments and expedite insurance claims through special procedures and faster loss assessments. They may also use alternative or third-party service channels and strengthen digital access.
2026-08-26Superintendencia Financiera de Colombia
Financial Superintendency of Colombia issues disaster relief measures, including up to 12 months of credit reporting protection
The Financial Superintendency of Colombia issued relief measures for consumers affected by the disaster situation, covering refinancing, additional payment support, new credit and insurance services. Refinanced loans may retain their credit ratings and avoid negative reporting for up to 12 months without prudential classification as modified or restructured. The instructions also provide for flexible repayment assessments, expedited insurance claims and alternative service channels.