Superintendents of Banks and Insurance expand regional cooperation commitment

The members of the Central American Council of Superintendents of Banks, Insurance and Other Financial Institutions (CCSBSO) expanded the multilateral memoranda for the exchange of information and mutual cooperation in cross-border consolidated supervision processes and in resolution matters. This promotes the joint work of the institutions participating in this space, with representation from Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Dominican Republic, Colombia, and Ecuador. During the ordinary General Assembly of the CCSBSO, held in La Romana, Dominican Republic, the participants signed the addenda to the multilateral memoranda of understanding for the exchange of information and mutual cooperation in cross-border consolidated supervision and in resolution matters. Additionally, the accountability reports of the presidency of the Council, held by the Superintendency of Banks of the Dominican Republic, and of the technical committees of Liaison, Insurance, Sustainability, Cyber-resilience and Resolution and Crisis Management were known. The agenda also included the designation of the new Board of Directors 2025-2027 and the incorporation of the Superintendency of Banks of Ecuador as a member of the CCSBSO; as well as the progress of the 2025-2029 strategic plan.

The Dominican Superintendent of Banks, Alejandro Fernández W., who was ratified as president of the organization, valued the importance of this space for regional financial stability. “Cooperation will always be the most effective way to align the standards that guide us and achieve significant progress”, he expressed.

The Council members' agenda of activities was extended for two days, during which the initiative in Sustainable Finance for Development (FISDE) was also concluded, which, for the last four years, has allowed the training of technical teams in sustainability, the launch of the regional green taxonomy and the design of roadmaps for the incorporation of environmental, social and governance (ESG) criteria in risk-based supervision frameworks. This project was driven by the CCSBSO, with the technical and financial support of the International Finance Corporation (IFC), Dutch Entrepreneurial Development Bank (FMO) and the Norwegian Investment Fund for Developing Countries (Norfund).