Payment Systems and Banking Operations

Colombia’s financial system has undertaken major changes during the last decade, with new regulatory regimes being implemented, as well as a significant expansion of financial services. Nevertheless, the recent literature has yet to analyze this new epoch for banking institutions under an…

Network analysis has been applied to identify systemically important financial institutions after the 2008 financial crisis. Such applications have stressed the importance of centrality within the too-connected-to-fail concept. 

The most recent financial crisis unveiled that liquidity risk is far more important and intricate than regulation have conceived. The shift from bank-based to market-based financial systems and from Deferred Net Systems to liquidity-demanding Real-Time Gross Settlement of payments explains some…

Defining whether a financial institution is systemically important (or not) is challenging due to (i) the inevitability of combining complex importance criteria such as institutions’ size, connectedness and substitutability; (ii) the ambiguity of what an appropriate threshold for those criteria…

The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fail (TCTF) concept. The TCTF concept…

Learn more about Bre-B, the new interoperable instant payments ecosystem in Colombia, at the Payment System Forum session to be held on Wednesday, October 16 (only in Spanish).

Resumen del documento: Estimamos un modelo de Nelson-Siegel segmentado de tres factores para la curva de rendimientos utilizando información diaria y observable de los precios de los TES y la IBR para Colombia. La estimación flexible de cada segmento (corto, mediano y largo plazo) proporciona…