Box 3. Payment systems of Banco de la República: availability and technological events that occurred in 2017
En cumplimiento con lo estipulado en el artículo 5 de la Ley 31 de 1992, la Junta Directiva del Banco de la República presenta a consideración del Honorable Congreso de la República, un informe al Congreso de la República en el cual da cuenta del comportamiento de la economía y de sus perspectivas. Este informe se presenta dos veces al año, en los meses de marzo y julio, dentro de los diez días hábiles siguientes a la fecha de inicio de las sesiones del Congreso.
Complying with Article 5 of Act 31 of 1992, the Board of Directors of the Central Bank submits a report to the Congress of Colombia twice a year accounting for the behavior of the economy and its prospects. This report is delivered in March and July within 10 working days following the beginning of the sessions of the Congress.
One of the main functions of Banco de la República is to further the safe and efficient functioning of the payment systems, a job it carries out by providing banking services to financial institutions. These include access to payment systems and to trading, clearing, and custody of government bonds. These services are a central axis of the Colombian financial infrastructure and their development has contributed significantly to the effectiveness of the transmission of monetary policy, the deepening of financial markets, and the modernization of payments in the economy.
