 |
 |
|
Functions of the Board of Directors of the Bank as Established by Law*
For the full completion of this trust, the Board of Directors was authorized to study and adopt measures that regulate the monetary base and the liquidity of the financial market, as well as ensure the normal functioning of internal and external payments in the economy.
The Law specifically authorized the Board:
- To fix and regulate the cash reserves of the different types of credit institutions.
- To regulate interbank credit destined to meet the temporary liquidity demands of credit institutions.
- To fix, when circumstances require and on a temporary basis (for a maximum of 120 days in any given year), the interest rate limits of credit institutions and caps on the growth of their credit operations. With these restrictions, it is assured that, in the end, the market will be the one that defines these variables.
- To direct the intervention of the Banco de la República in the foreign exchange market as a buyer or seller of currencies.
- To determine the management policy with respect to the exchange rate, which should assist in the preservation of the purchasing power of the currency.
El Banco de la República-Antecedentes, Evolución y Esctructura. (The Banco de la República - Background, Structure and Development) Banco de la República, Departamento Editorial, Bogotá, 1990. |
Introducción al Análisis Económico. El caso colombiano. (Intoduction to Economic Analysis. The Case of Colombia.) 2a. ed. Revisada, Banco de la República, Ed. Siglo del Hombre Editores, Santafé de Bogotá, 1997. |
Historia del Banco de la República 60 años. (History of the Banco de la República: 60 years.) Fabio Gómez Arrubla, Talleres Gráficos, Banco de la República, Bogotá, 1983. |
|
The Bank
| Introduction | History,
Mission and Functions |
| Organizational Diagram | Financial Statements |
| Notes and Coins | Fellowships |
| Foundations | General Information |
|
 |
