Este documento explora la relación entre la independencia del banco central y los niveles de inflación en América Latina, usando como estudio de caso la experiencia de Colombia (1923-2008). Desde su creación en 1923 la independencia y objetivos del banco central en Colombia han sido...

The international reform initiative that followed the global financial crisis of 2008-09 has resulted in the introduction of liquidity requirements for banks. Under one requirement, the Liquidity Coverage Ratio (LCR), banks will need to hold enough highly liquid assets to survive for a month in...

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...

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...

El presente estudio busca comprobar si la autonomía de la Banca Central en Colombia, adquirida a partir de la Carta Política de 1991, logró controlar de manera adecuada los márgenes de inflación a través de la no monetización de los déficits del Gobierno; o si por el contrario, esto no...

Governors and senior officials representing some two dozen central banks from Africa and other regions of the world met at the BIS in May 2011 to discuss the monetary policy and financial stability issues facing Africa after the global financial crisis. This volume brings together the background...

Liquidity may be a serious challenge to growing nations especially in the absence of foreign aid or other necessary assistance like access to borrowing. This paper introduces the Invisible Reserves Theory which states that, “A country that is locked in a depression during the absence of...

This paper investigates the effects of the COVID-19 pandemic on financial institutions and consumers' adoption of FinTech in payments. We find that the pandemic: [1] Initially had a negative impact on the adoption of FinTech, but favorable short-term regulatory changes have reversed some of the...

Since the establishment of the Central Bank of Barbados in May 1972, the focus has been on acquiring a deep understanding of the domestic economic challenges and the broader issues surrounding sustainable development in small states. While most of this research, as should be expected, has...

Central banks can play an important role in facilitating and promoting regional economic and monetary integration. Examples are the European monetary union and a more recent initiative by a group of Asian central banks to boost liquidity in local bond markets in Asia through the “Asian Bond...