On Monday 16 March 2020, the members of the Board of Directors of the Central Bank met with the Technical Deputy Minister of Finance in the morning, and with the Financial Superintendent in the afternoon, to monitor market dynamics, indicators of the financial system, and the results of the auctions that have taken place to date.
In order to ensure adequate supply of liquidity to the market, the Central Bank increased the allotment of private debt repos from COP $5 trillion (t) to COP $8 t, at maturities from 7 to 30 days. The allotment of the auction of public debt repos remains at COP 12 t, which has shown to be wide enough for the needs observed. The total liquidity allotment will then be COP $20 t, and may be redistributed between that assigned to the private debt repo auction and that of public debt repos, according to the needs reflected by the market.
The maturities, counterparties, and the mechanisms for the provision of liquidity will be assessed on a daily basis in full coordination by the authorities.
The Board will continue monitoring the situation permanently and will make all necessary decisions to ensure the proper operation of the economy.