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Law 31 of 1992 empowers Banco de la República (the Central Bank of Colombia) to “order the mintage of legal tender coins in the country or abroad for commemorative or numismatic purposes, as provided for in special laws, establish their alloys, and determine their characteristics."

From: 2022

I was very surprised to learn last night of the State Council’s decision to cancel the appointment of Alberto Carrasquilla as a member of the Board of Directors. Decisions taken by the judiciary are to be respected. Nevertheless, I would like to express my regret at this appointment, since it…

Este documento propone un modelo multisectorial de crecimiento, dinámico y estocástico que integra la literatura de ciclo económico real con la de economías con sectores en bonanza y enfermedad holandesa para analizar fluctuaciones, asignación de recursos y los cambios en precios relativos en una…

The world economy has recently been hit by commodity price fluctuations, with first round effects on noncore inflation and second round effects on core inflation. The policy response to commodity price fluctuations depends on the first and second round effects as well as on the strength of the…

A small open macroeconomic model, in which an optimal interest rate rule emerges to drive the inflation behavior, is used to model inflation within an inflation targeting framework. This set up is used to estimate the relationship between commodity prices shocks and the inflation process in a…

Presented at CVII Meeting of Central Bank Governors of CEMLA; Board of Governors and Assembly Meetings.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

In accordance with the transparency that characterizes the inflation targeting regime, the disclosure of foreign exchange intervention is timely.For intervention through auctions, the amounts are announced in advance, and the amounts approved and/or exercised are disclosed on the same day of the…

Value at Risk (VaR) is a market risk measure widely used by risk managers and market regulatory authorities. There is a variety of methodologies proposed in the literature for the estimation of VaR. However, few of them get to say something about its distribution or its confidence intervals. This…

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Banco de la República (the Central Bank of Colombia, BanRep) informs that in October 2023 it made outright sales of TES B in the market for COP 1,763.8 billion (value at market prices). These sales were made in response to the difference between the projections of supply and demand of the monetary…

During the 83rd session of the Financial System Coordination and Monitoring Committee, which was held today between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, the Director of the Financial…

During the 84th session of the Financial System Coordination and Monitoring Committee, which was held today between the Minister of Finance and Public Credit, the Governor  of Banco de la República (the Central Bank of Colombia), the Financial Superintendent of Colombia, the acting Director of…

During the 91st session of the Financial System Coordination and Monitoring Committee, held this Friday between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, the Director of the Financial Institutions…

Bogotá, 20 December 2024

In today’s remote meeting, the Committee for the Coordination and Surveillance of the Financial System, comprised of the Minister of Finance and Public Credit, the Governor of Banco de la República, the Financial Superintendent, and the Director of FOGAFIN (Colombian agency that provides deposit…

At today's meeting, the Committee for the Coordination and Follow-up of the Financial System, formed by the Minister of Finance, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, and the Director of the Fund for Guarantees for Financial Institutions…

A meeting between the Minister of the Treasury and Public Credit, the Governor of Banco de la República, the Financial Superintendent, the Director of the Financial Institution Guarantee Fund – Fogafín, and the Director of the Financial Regulation Unit – (URF in Spanish) was held on the morning of…

At the meeting held on Tuesday between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, and the Director of the Financial Institutions Guarantee Fund (Fogafín in Spanish), together with the Director in…

The financial system started 2023 with adequate performance and prudential indicators. The measures adopted in the last quarter of 2022 have prepared the system to absorb the risks that could materialize throughout the year. Hence, the behavior of the prudential levels of capital adequacy (solvency…

During the 86th session of the Financial System Coordination and Monitoring Committee, held today between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, and the Director of the Financial Institutions…

During the 89th session of the Financial System Coordination and Monitoring Committee, held this Wednesday between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, the Director of the Financial…

During the 90th session of the Financial System Coordination and Monitoring Committee, held this Friday between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, the Deputy Director for Resolution…