Central Bank of Colombia (Banrep)
Colombian paper considers reaction functions in payments
Working paper examines how different entities within a large-value payment system react to failures within that system, finding that a range of factors are in play
Brazil’s central bank launches financial education website
The Central Bank of Brazil wants to ‘get closer to the population’, thus launching a new website with contents, videos and online courses on financial education
Colombian paper analyses impact of bank size and risk on policy transmission
Commercial banks with less credit risk on their books can ‘maintain a relatively good growth in the supply of credit’ when faced with a monetary policy shock, research finds
Colombian paper finds structure matters in modelling oil shocks
Working paper finds evidence that the impact of an oil price shock on an oil-exporting country such as Colombia can be large, but depends on the structure of the economy
Colombian paper examines synchronisation of economic cycles in Latin America
Central Bank of Colombia working paper finds there is ‘not a high’ level of synchronisation between a sample of seven Latin American countries
Central Bank of Colombia director calls for new policy tools
Colombia’s central bank needs to ‘steer regulation towards dealing with the systemic risks in the financial sector as a whole’ and not as isolated parts, argues director
Colombian paper analyses financial networks
Working paper finds central financial institutions ‘tend to overlap across financial networks, thus their systemic importance may be even greater than envisaged’ in alternate models
IMF paper: Colombia needs to lower collateral constraints to boost growth
Measures to increase financial inclusion in Colombia should be ‘monitored closely’, since some of them ‘may imply trade-offs’; collateral constraints viewed as impediment to growth
Colombian working paper examines credit cycles in EMs
Researchers argue that central banks in emerging markets should focus on medium-term credit cycles when designing macro-prudential policy
Colombian economist extends Bernanke-Gertler model for open economies
Model holds for open as well as closed economies, Central Bank of Colombia paper finds, concluding that they are even more vulnerable to asset price bubbles
Central Bank of Colombia raises rates for fourth consecutive month
Bank raises benchmark interest rate by 25 basis points to 4.25% as annual growth is expected to reach 5% this year on the back of jump in household spending
Central Bank of Colombia looks to Switzerland for help on financial stability issues
Colombian central bank signs two-year capacity-building agreement with Swiss authorities; Azerbaijan governor praises SNB's ‘technical assistance'
Colombian monetary policy-makers ignore World Cup effect
Decision to raise interest rates attributed to rising inflation expectations - which were not put down to the country's footballing success
Central Bank of Colombia goes for more detailed minutes
New minutes include more detail about board members' policy views that ‘on occasion may reveal the institution's future policy inclination', according to central bank
Mexico cuts while Colombia hikes, signalling diverging growth trajectories
Both central banks are fighting above-target inflation but Mexican expectations are more firmly anchored; Colombian economy to reach full capacity this year, bank says
Brazil fails to realise Latam financial stability grouping
South American regional initiative to co-operate on financial stability appears to have gone nowhere since it was announced by Brazil in March this year
Central bank support for CCPs and TRs
The wider use of central counterparties and trade repositories may pose challenges for central banks. Carlos León, Clara Machado and Ricardo Mariño explain the tactics central banks are adopting.
Colombian interbank oligopoly requires new monetary policy transmission model
The domination of Colombia's interbank market by a few large players means traditional models cannot predict how monetary policy, and financial crises, will be transmitted
Colombian paper finds wholesale funding can increase financial sector fragility
Monitoring credit funding sources could provide an additional tool to warn against banking disruptions, paper shows
Reserve managers stress importance of portfolio transparency
Public report offering detailed disclosure of investment decisions results in reserve managers having 'little to fear', says the Central Bank of Colombia's Marco Ruiz
Forward guidance ‘escape clause' increases effectiveness, says Colombian paper
Incorporating a threshold into forward guidance means central banks can change course when economic conditions dictate - meaning it is welfare-improving
Colombia sees benefit of weaker currency as inflation stays at record lows
Minutes say monetary policy framework is functioning well as lower levels of capital flight allow central bank to retain some of South America's lowest interest rates
Colombian paper examines women in the workplace
Researchers say the large increase in the number of urban women participating in the workforce is predominantly a result of married women with low education levels getting jobs
Inclusion of 'spatial effects' help explain Colombian money market spreads, central bank paper argues
Traditional factors like 'size and leverage' insufficient to explain borrowing spreads, argues paper, which is 'first attempt' to model Colombian money market within a spatial econometrics framework