Banco de la República
| Headquarters | Carrera 7 # 14-78, Bogotá , Colombia |
| founding | July 25, 1923 |
| president | Juan José Echavarría |
| country | Colombia |
| currency | |
| ISO 4217 | COP |
| Currency reserves | US $ 46.7 billion (2016) |
| printer | Imprenta Nacional de Colombia |
| Website | |
| predecessor |
Banco Nacional (1880) |
| List of central banks | |
The Banco de la República (BRC, short form Banrep or Banrepública , sometimes with the addition "de Colombia") is the state central bank of Colombia . It was founded on July 25, 1923 and is formally independent. Its headquarters are in the La Candelaria district of the Colombian capital Bogotá, in the immediate vicinity of the Museo del Oro . On January 6, 2017, Juan José Echavarría took over the management of the central bank.
history
20th century
With the "Ley 25 de 1923" the Banco de la República was established on July 25, 1923 as the Colombian central bank. It was set up as a public company (Sociedad Anónima) with registered capital worth $ 10 million in gold , 50% of which was contributed by the government and the other half by domestic and foreign commercial banks and a few individuals. As a result, the BRC was granted exclusive power to issue the local currency, the Colombian peso (COP), to act as a lender of last resort, to manage international currency reserves and to act as the government's bank .
The creation of the Banco de la República is considered a fundamental element of the country's economic and institutional organization. Over the years this institution has undergone significant changes in an attempt to keep the economy in a constant process of growth and updating.
Until the establishment of its own banknote printing facility in Colombia on October 12, 1959, only specialized suppliers abroad, primarily in the USA , England , Italy and Germany, were entrusted with producing the peso notes .
21st century
From 2016, there were six different denominations of peso banknotes: 2,000 peso, 5,000 peso, 10,000 peso, 20,000 peso, 50,000 peso and 100,000 peso. The banknotes were introduced gradually over the course of the year.
The board of directors ( Junta Directiva ) of the BRC consists of seven members, representatives of the private sector and the government. It regulates the money supply control under the strict parameters of the general rules of international finance. In addition, the executive board is authorized to change the discount rate and any interventions on interest .
| Surname | function |
|---|---|
| Alberto Carrasquilla | Finance minister |
| Juan José Echavarría | Central Bank Director |
| Ana Fernanda Maiguashca | Vice Director |
| Gerardo Hernández | vice director |
| Carolina Soto | Vice Director |
| Roberto Steiner | vice director |
Individual evidence
- ^ Echavarría takes over at the Central Bank of Colombia . centralbanking.com. Accessed January 22, 2017 (English)
- ^ Colombia Foreign Exchange Reserves . tradingeconomics.com. Accessed on January 28, 2017 (English)
- ^ Echavarría takes over at the Central Bank of Colombia . centralbanking.com. Accessed January 22, 2017 (English)
- ↑ Original document from Ley 25 de 1923 . javeriana.edu.co. Accessed January 22, 2017 (Spanish)
- ↑ Primeros billetes . banrep.gov.co. Accessed January 24, 2017 (Spanish)
- ↑ Junta Directiva . banrep.gov.co. Accessed January 24, 2017 (Spanish)
Web links
- Official website of the Banco de la República (es / en)
- La banca central en Colombia - Banco Nacional (1880), Banco Central (1905), Banco de la República (1923) (Spanish)
Coordinates: 4 ° 37'24.2 " N , 74 ° 4'3" W.