An Exploration on Interbank Markets and the Operational Framework of Monetary Policy in Colombia

Camilo González; Luisa Fernanda Silva-Escobar; Carmiña Ofelia Vargas-Riaño; Andrés M. Velasco

Borradores de Economia

Número:

782

Publicado:

Domingo, 1 Septiembre 2013

Clasificación JEL:

E44, E52, G21

Palabras clave:

Interbank Market, Overnight Rates, Reserve Demand

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We set a dynamic stochastic model for the interbank daily market for funds in Colombia. The framework features exogenous reserve requirements and requirement period, competitive trading among heterogeneous commercial banks, daily open market operations he

An Exploration on Interbank Markets and the Operational Framework of Monetary Policy in Colombia

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