Colombian reserve requirements impact settlement timing – paper
Cut contributed to ‘pronounced shift’ towards late-day settlement, authors say
Changes to reserve requirements in Colombia have affected settlement liquidity and pushed settlement to later in the day, research published by the Bank for International Settlements finds.
The working paper – by Freddy Cepeda-Lopéz, Fredy Gamboa and Javier Miguelez-Márquez – explores the effect of a cut to reserve requirements by the Central Bank of Colombia in September 2024, which was intended to support a deepening of the country’s financial markets.
Theoretical models suggest the cut could
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