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Mercado interbancario colombiano y manejo de liquidez del Banco de la Rep�blica

Author

Listed:
  • Pamela A. Cardozo
  • Carlos A. Huertas C.
  • Juli�n A. Parra P.
  • Lina V. Pati�o 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 Rep�blica (BR). El documento explica las diferencias entre las principales operaciones en este mercado y describe los mecanismos a trav�s 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 expansi�n realizada por el BR y la determinaci�n del cupo (monto m�ximo a prestar al SF) para la misma. Finalmente, el documentopresenta un modelo sencillo que recoge algunos de los elementos b�sicos del mercado interbancario colombiano. Su prop�sito es servir como punto de referencia inicial para trabajos posteriores.

Suggested Citation

  • Pamela A. Cardozo & Carlos A. Huertas C. & Juli�n A. Parra P. & Lina V. Pati�o Echeverri, 2011. "Mercado interbancario colombiano y manejo de liquidez del Banco de la Rep�blica," Borradores de Economia 9017, Banco de la Republica.
    • Handle: RePEc:col:000094:009017
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    File URL: http://www.banrep.gov.co/docum/ftp/borra673.pdf
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    Citations

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    Cited by:

    1. 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.
    2. Camilo Gonz�lez & Luisa Silva & Carmi�a Vargas & Andr�s M. Velasco, 2013. "Uncertainty in the Money supply mechanism and interbank markets in Colombia," Borradores de Economia 11094, Banco de la Republica.
    3. Urrutia, Miguel & Hofstetter, Marc & Hamann, Franz, 2014. "Inflation Targeting in Colombia, 2002-2012," IDB Publications (Working Papers) 6394, Inter-American Development Bank.
    4. Miguel Sarmiento & Jorge Cely & Carlos Le�n, 2015. "Monitoring the Unsecured Interbank Funds Market," Borradores de Economia 14080, Banco de la Republica.
    5. 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.
    6. 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.
    7. Camilo González & Luisa Silva & Carmi�a Vargas & Andr�s M. Velasco, 2014. "Uncertainty in the Money Supply Mechanism and Interbank Markets in Colombia," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 32(73), pages 36-49.
    8. Carlos Le�n, 2012. "Implied probabilities of default from Colombian money market spreads: The Merton Model under equity market informational constraints," Borradores de Economia 10075, Banco de la Republica.
    9. 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.
    10. Camilo Gonz�lez & Luisa F. Silva & Carmi�a O. Vargas & Andr�s M. Velasco, 2013. "An exploration on interbank markets and the operational framework of monetary policy in Colombia," Borradores de Economia 10982, Banco de la Republica.
    11. Carlos Le�n, 2012. "Implied probabilities of default from Colombian money market spreads: The Merton Model under equity market informational constraints," Borradores de Economia 10075, Banco de la Republica.
    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 Sabogal, 2014. "Un mecanismo para lograr la participación de los bancos en los mercados interbancarios no colateralizados," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 32(73), pages 17-35, July.
    14. León, C., 2015. "Financial stability from a network perspective," Other publications TiSEM bb2e4e44-e842-45c6-a946-4, Tilburg University, School of Economics and Management.

    More about this item

    Keywords

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    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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