Banco de la República gets access to repos with the Federal Reserve
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The Fed has guaranteed access to Banco de la República (the Central Bank of Colombia) to its FIMA repo facility.
The United States Federal Reserve has guaranteed Banco de la República access to repos through FIMA. This facility has been open since 6 April 2020. Eligible institutions are central banks with custody accounts for US Treasury securities at the Federal Reserve. Banco de la República would make use of this facility only in the event that, having decided to sell US dollars in the spot market, the market for the purchase and sale of US Treasury securities were to exhibit a very low liquidity.
Further details on this facility may be found at: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200331a.htm.
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