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Mercado interbancario colombiano y manejo de liquidez del Banco de la República

Author

Listed:
  • Pamela cardozo Ortiz

    ()

  • carlos A. Huertas Campos

    ()

  • Julián A. Parra POlanía

    ()

  • Lina V. Patiño ECheverri

    ()

Abstract

El documento tiene como objetivo describir algunos de los elementos fundamentales del mercado interbancario colombiano y del manejo de liquidez por parte del Banco de la República (BR). El documento explica las diferencias entre las principales operaciones en este mercado y describe los mecanismos a través de los cuales el BR suministra liquidez o recoge excesos de la misma en el sistema financiero (SF); entre otros, describe la subasta diaria de expansión realizada por el BR y la determinación del cupo (monto máximo a prestar al SF) para la misma. Finalmente, el documento presenta un modelo sencillo que recoge algunos de los elementos básicos del mercado interbancario colombiano. Su propósito es servir como punto de referencia inicial para trabajos posteriores.

Suggested Citation

  • Pamela cardozo Ortiz & carlos A. Huertas Campos & Julián A. Parra POlanía & Lina V. Patiño ECheverri, 2011. "Mercado interbancario colombiano y manejo de liquidez del Banco de la República," Borradores de Economia 673, Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:borrec:673
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    File URL: http://repositorio.banrep.gov.co/bitstream/handle/20.500.12134/5690/be_673.pdf?sequence=1&isAllowed=y
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    Cited by:

    1. repec:eee:finsta:v:35:y:2018:i:c:p:75-92 is not listed on IDEAS
    2. Camilo González & Carmiña Vargas & Luisa Silva & Andrés M. Velasco, 2014. "Uncertainty in the Money Supply Mechanism and Interbank Markets in Colombia," Revista Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 32(73), pages 36-49, July.
    3. Carlos León, 2012. "Implied probabilities of default from Colombian money market spreads: The Merton Model under equity market informational constraints," BORRADORES DE ECONOMIA 010075, BANCO DE LA REPÚBLICA.
    4. Carlos León & Clara Machado & Andrés Murcia, 2013. "Macro-prudential assessment of Colombian financial institutions’ systemic importance," Borradores de Economia 800, Banco de la Republica de Colombia.
    5. León, Carlos & Machado, Clara & Sarmiento, Miguel, 2018. "Identifying central bank liquidity super-spreaders in interbank funds networks," Journal of Financial Stability, Elsevier, vol. 35(C), pages 75-92.
    6. Laura Capera & Juan Sebastián Lemus & Dairo Estrada, 2013. "Relaciones crediticias y riesgo de contagio en el mercado interbancario no colateralizado colombiano," Temas de Estabilidad Financiera 077, Banco de la Republica de Colombia.
    7. Miguel Sarmiento & Jorge Cely & Carlos León, 2015. "Monitoring the Unsecured Interbank Funds Market," Borradores de Economia 917, Banco de la Republica de Colombia.
    8. Johanna Inés Cárdenas Pinzón & Luis Eudoro Vallejo Zamudio, 2013. "Comportamiento de la inflación en Colombia 2002-2010 y régimen de metas de inflación," REVISTA APUNTES DEL CENES, UNIVERSIDAD PEDAGOGICA Y TECNOLOGICA DE COLOMBIA, June.
    9. Martínez, Constanza & León, Carlos, 2016. "The cost of collateralized borrowing in the Colombian money market: Does connectedness matter?," Journal of Financial Stability, Elsevier, vol. 25(C), pages 193-205.
    10. Peter Sarlin & Carlos León & Clara Machado & Andrés Murcia, 2016. "Assessing Systemic Importance With a Fuzzy Logic Inference System," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 23(1-2), pages 121-153, January.
    11. Camilo González Sabogal, 2014. "Un mecanismo para lograr la participación de los bancos en los mercados interbancarios no colateralizados," Revista Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 32(73), pages 17-35, July.
    12. Sarmiento, Miguel & Cely, Jorge & León, Carlos, 2017. "An early warning indicator system to monitor the unsecured interbank funds market," Research in International Business and Finance, Elsevier, vol. 40(C), pages 114-128.
    13. Camilo González & Luisa F. Silva & Carmiña O. Vargas & Andrés M. Velasco, 2013. "An exploration on interbank markets and the operational framework of monetary policy in Colombia," BORRADORES DE ECONOMIA 010982, BANCO DE LA REPÚBLICA.

    More about this item

    Keywords

    Banco de la República; liquidez; mercado interbancario; política monetaria; TIB.;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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