1. Board of Directors
The Board of Directors is the country’s monetary, exchange and credit authority. As such, it complies with the duties and functions set forth in the Constitution, in Law 31 of 1992, and in the bylaws of the Bank (Decree 2520 of 1993).
In its capacity has the highest authority within the institution, the Board of Directors is responsible for management and execution of the Bank's functions, in accordance with Law 31 of 1992 and the bylaws of the institution (Decree 2520 of 1993).
1.1 Secretary to the Board of Directors
The duties of Secretary of the Board of Directors are exercised by this office, specifically those related to preparations and summons for Board meetings, review, notification and publication of the decisions adopted by the Board, and preparation, preservation and custody of the Board's minute books and documents, among other functions, pursuant to the internal resolutions that are in effect.
It provides legal advice to the Board of Directors on the constitutionality and legality of the measures it intends to adopt in its capacity as the country’s monetary, foreign exchange and credit authority and in the development of other central bank functions, and on legal interpretation of the law in general. It also prepares or responds to lawsuits and undertakes necessary action to counter norms and administrative acts that might jeopardize the jurisdiction of the Board of Directors or be contrary to the regulations adopted by it. In addition, the Office of the Secretary of the Board of Directors tracks the bills introduced before Congress and prepares legal opinions with respect to the same.