January 23 Public Debt Programs Fiscal Risk, Sovereign Funds and Contingent Liabilities
The Seminar of Fiscal Risk, Sovereign Founds and Contingent Liabilities took place in Mexico City, from November 16th to 17th, 2016. The event was attended by 26 officials from 14 countries: Barbados, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Salvador and Venezuela. Most of the attendees were officials from central banks and ministries of finance from their respective countries.
December 23 Payments forum Global Payments Week 2016
The Global Payments Week 2016 was held in Turin, Italy on September 20-23, 2016 under the coordination of the World Bank Group, CEMLA and the Bank for International Settlements, with the special collaboration of the Banca d ’Italia.
May 16 press release CI Meeting of Central Bank Governors of CEMLA
On May 10 and 11 the CI Meeting of Central Bank Governors of CEMLA was held in Lisbon, Portugal under the auspices of Banco de Portugal. The Meeting was inaugurated by Governor Carlos Da Silva Costa, Banco de Portugal.
May 13 Financial Information Forum II Meeting of the Financial Information Forum of Latin American and Caribbean Central Banks
The meeting was attended by over 50 representatives from 25 institutions, including central banks Latin America and Caribbean and European national central banks, and various international organizations, including the Bank for International Settlements (BIS), the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD) and the European Central Bank (ECB).
April 6 Payments Forum Guiding Principles: Payment aspects of financial inclusion
Since April 2014, the Center for Latin American and Monetary Studies (CEMLA) participates in the Task Force on the Payment Aspects of Financial Inclusion (PAFI) chaired by the Committee on Payments and Market Infrastructures (CPMI) and the World Bank Group (WB). Today, the PAFI final report has been published seeking to tackle barriers to the adoption and usage of transaction accounts, which sit at the heart of retail payment services.
February 16 Payments Forum Statistics on Payment, Clearing and Settlement Systems in Latin American and the Caribbean Region
The Yellow Book Statistics comprise two series. Series “A” are statistics on payments and securities clearing and settlement for each country. Series “B” are more general statistics related to the financial sector. Series A is organized in two items, namely Country Tables and Comparative Tables. These documents present both Comparative Tables and Country Tables for a time span of 2009-2014.
February 3 Press release Regional Payments Week 2015
The XVII edition of the Payments Week took place in Santo Domingo, Dominican Republic, from December 1st to 4th, under the coordination of the World Bank Group – Finance & Markets Global Practice, the Bank of International Settlements and the Center for Latin American Monetary Studies and the auspices of the Banco Central de la República Dominicana. The Regional Payments Week is the Western Hemisphere Payments and Securities Settlement Forum annual meeting that gathers development, regulation, operation and oversight mangers and experts of payment systems and market infrastructures in Latin America and the Caribbean
November 24, 2015 Press release Results of the 2015 Poster Contest on Economic Research for Economics Students
Members of the Economic Research Management, who acted as judges, are pleased to announce that the winner of the Poster Contest for Economic Research 2015 are Andrés David Pinchao Rosero and Juan Sebastián Holguín from the Universidad del Valle (Colombia), for their study "Bank Lending Channel: Evidence for Colombia". The authors attempt to identify theoretically and empirically the impact of monetary policy decisions through the credit channel in the Colombian economy for the period 2002-2013. They used a FAVAR methodology, allowing to obtain various types of observable and unobservable factors, including some of macroeconomic conditions, some market interest rates and other credit supply of commercial banks. The results indicate that the credit channel, operated effectively in the Colombian economy, for the period analyzed.
October 14 Press release C Meeting of Central Bank Governors of the Center for Latin American Monetary Studies
Studies, was held in Lima, Perú. This meeting had two sessions. During the first one, Mr. Alejandro Vanoli, President of the Banco Central de la República Argentina presented the most relevant issues under the G20 agenda. During the second session, participants benefitted from the presence of Messrs. Thomas A. Connors, Deputy Director, Division of International Finance, Board of Governors of the Federal Reserve System; Luis M. Linde, Governor, Banco de España; Julio Velarde, President, Banco Central de Reserva del Perú; and E. Lesetja Kganyago, Governor, South African Reserve Bank as speakers. Their presentations focused on the international economic and financial perspectives. Both sessions were of great interest for participants, who contributed with valuable remarks.
October 8 Press release 2015 Rodrigo Gómez Central Bank Award
CEMLA’s Board of Governors decided to grant the 2015 Rodrigo Gómez Central Bank Award to Fernando José Pérez Forero, official from the Banco Central de Reserva del Perú, for his study entitled “Comparing the transmission of monetary policy shocks in Latin America: A Hierarchical Panel VAR”. In this paper, to be published by CEMLA in English and Spanish, the author assesses and compares the effects of monetary policy shocks across Latin American countries that put in practice the Inflation Targeting scheme (Brazil, Chile, Colombia, Mexico and Peru).
September 28 Medium-term Debt Management Strategy (MTDS)
The Medium-term Debt Management Strategy (MTDS) Workshop took place in Mexico City at CEMLA headquarters from September 21-25. The event was jointly organized by CEMLA, World Bank (WB) and International Monetary Fund (IMF).
September 11 Payment aspects of financial inclusion Public Consultation of the Report
CPMI and World Bank Group have issued the consultative report “Payment aspects of financial inclusion”. This report provides an analysis of the payment aspects of financial inclusion, on the basis of which it sets out guiding principles designed to assist countries that seek to advance financial inclusion in their markets through payments.
August 3 Seminar on Recent Developments
in Payment and Settlement Systems
The Center for Latin American Monetary Studies (CEMLA) and the Deutsche Bundesbank held in the Seminar on Recent Developments in Payment and Settlement Systems, under the auspices of the Central Bank of Paraguay in Asuncion from July 21 to 23, 2015. The seminar was attended by 41 participants from 14 national central banks of Latin America and the Caribbean.
July 28 Public Debt Programs Demand Assessment Mission to Subnational Government of La Paz, Bolivia.
The Public Debt Management Capacity Building Program (PDP) of CEMLA carried out the Demand Assessment Mission to the Subnational Government of La Paz (SGLP) in Bolivia; which constitutes the first event undertaken at a subnational level. The Mission was held in La Paz, Bolivia from July 2 to 15, 2015.
june 24, 2015 Remittances Forum IFAD awards excellence in remittances for social and economic development On June 18, 2015, the fifth Global Forum on Remittances and Development (GFRD) was held in Milan, Italy, organized by the United Nations International Fund for Agricultural Development (IFAD), where awarded a bank, an NGO, a CEO and a private company for their efforts to help remittance recipients leverage the funds they receive for greater social and development impact.
june 16, 2015 Financial Information Forum I Meeting of the Financial Information Forum
The Center for Latin American Monetary Studies (CEMLA) held the first meeting of the Forum of Financial Information of Latin American and Caribbean Central Banks (FIF) on 8 and June 9, 2015 in Mexico City, Mexico. The meeting was attended by 39 representatives from 27 institutions, including central banks and international organizations.
june 5, 2015 XCIX Meeting of Central Bank Governors of the Center for Latin American Monetary Studies
On May 29 and 30, 2015, the XCIX Meeting of Central Bank Governors of the Center for Latin American Monetary Studies, was held in Cancún, Quintana Roo, Mexico. Once the opening remarks were given by Agustín Carstens, Governor, Banco de Mexico, host of the event, the sessions addressed the following topics: International economic and financial outlook; Strengths and macroeconomic challenges in Latin America and the Caribbean; Topics under discussion at the G20; Monetary policy challenges related to recent commodity prices trend; Strengthening of financial stability through a macroprudential approach - Implications for monetary policy; and International private banking view on economic and financial situation in Latin America and the Caribbean.
june 1st, 2015 Election of CEMLA´s Board of Governors for the period 2015-2017 On May 30, 2015, the Assembly of the Center gathered in Cancun, Quintana Roo, Mexico, and according to CEMLA´S Statutes, the Associate members were to elect the Board of Governors for the period from May 2015 to May 2017. Once the election was held, the Board of Governors for the period 2015 – 2017 was conformed by the following Institutions, to wit: Central Bank of The Bahamas, Banco Central de Chile, Banco Central de Bolivia, Banco Central de Costa Rica, Banco de México, Banco Central de Paraguay, and Banco Central de Venezuela; as well as by Banco de España and the Board of Governors of the Federal Reserve System, as special consultants.
Mr. Rodrigo Vergara, president of the Banco Central de Chile, was appointed Chairman of the Board of Governors for the period 2015-2017, replacing Dr. Alexander A. Tombini, Governor of the Banco Central do Brasil, who held said position from 2013 to 2015.
May 14, 2015 CEMLA and FOMIN will promote the development of an enabling environment for the financial inclusion of remittance clients
The Multilateral Investment Fund (MIF), recently approved a technical cooperation grant of US$1.2 million to complement other US$1.2 million from the Center for Latin American Monetary Studies for the implementation of a regional project that seek to strengthen the legal and regulatory frameworks of the region's remittance market and to improve the information available on the sector in order to create an enabling environment that will allow central banks, supervisory agencies, and other relevant institutions to increase the number of financial products that meet the needs of people who send and receive remittances.
April 29, 2015 Capacity Development Session for the Oversight of the National Payments System of Jamaica
From April 21 to 24, 2015, in Kingston, Jamaica, the Bank of Jamaica, with technical assistance from CEMLA, organized a capacity development session for the oversight of the National Payments System (NPS). The purpose of this session was to develop the institutional capacity of the various stakeholders, financial institutions, financial market infrastructure providers and central bank staff, in order to establish the institutional framework for the data exchange and disclosure on the functioning of the payments and securities clearing and settlement systems.
March 23, 2015 How has the LAC prepaid market evolved and what can be learnt from innovative solutions?
Mr. Raul Morales, head of secretariat of the Payments Forum of CEMLA, presented "How has the LAC prepaid market evolved and what can be learnt from innovative solutions?" in the Prepaid Americas Workshop held in occasion of the Mobile Money & Digital Payments Americas 2015 organized by several stakeholders from the payments industry, in Mexico City on 23 March, 2015.
March 20, 2015 Behavioral Economics and Personality Psychology
María José Roa, PhD., Senior researcher in economics at this center, gave a presentation on "Behavioral Economics and Personality Psychology: Financial Behaviors and Financial Education" during the 1st Regional Workshop of Financial Education in the Insurance Sector, entitled "A Multidimensional Tool for Inclusive Insurance Expansion into the Region" This workshop was organized by the Guatemalan Association of Insurance Institutions in Guatemala City, on March 20, 2015.
November 28, 2014 Global Payments Week 2014
The Global Payments Week 2014 took place from September 23th to 26th under the coordination of the Payment Systems Development Group of the World Bank and CEMLA, and with the collaboration of the Bank for International Settlements and the auspices of the Federal Reserve Bank of New York. The Global Payments Week is the most relevant meeting organized annually by the Western Hemisphere Payments and Securities Settlement Forum.
October 13, 2014 Central Bank Award Rodrigo Gómez
During the last meeting of the Board of Governors, October 9, 2014, based on the recommendation of the panel of judges, decided to declare the Award void.
The Board also wants to thank Enrique Alberola, coordinador ejecutivo, from the Dirección General Adjunta de Relaciones Internacionales at Banco de España; Antón Saravia, research professor, at CIDE; Dr. Gabriel Pérez del Peral, director of Economics department at Universidad Panamericana; and Alberto Ortiz, gerente de Investigación Económica at CEMLA, for their help as jury in this edition of the award.
Call for papers for the 2015 edition of the Rodrigo Gomez Award is open and we invite the researchers of the region to participate. Additional information is available at: http://www.cemla.org/callforpapers-cbaward.html.
September 8, 2014 National Workshop on Sustainable Funding Strategy
From July 21st to 28th, 2014, the Ministry of Finance of Honduras with the support of the Center for Latin American Monetary Studies (CEMLA), through its Public Debt Management Capacity Building Program (PDP), undertook the National Workshop on Sustainable Funding Strategy.
July 21, 2014 Contest of research posters for students in economics, 2014 Pursuing promotion of economic research in Latin America and the Caribbean, CEMLA's Research Management has organized the "Contest of research posters for students in economics". The contest consists in presenting a poster based on a research paper carried out by students in economics of academic institutions in Latin America and the Caribbean.
APril 28 and 29, 2014 XCVII Meeting of Central Bank Governors of CEMLA
During the sessions of this meeting held in São Paulo, Brazil, central bank governors addressed the following topics: World Economic Outlook; Topics under Discussion and the Future of the G20; Five Years after Lehman's Collapse: Where are we going to?; Communication Strategies and Monetary Policy Effectiveness in an Exceptional Environment; and Challenges for Monetary Policy in Latin America and the Caribbean. These topics discussion was leaded by some of the governors presented as well as by some special guests. The winner paper of the Rodrigo Gómez Central Bank Award was presented in a special session.
April 28, 2014 CEMLA's Board of Governors Meeting
During the CEMLA's Board of Governors Meeting participants discussed about some administrative issues of the Center and the General Direction presented the Activities Report of 2013 as well as the Strategic Plan for the 2014-2019 (first semester) period.
OCTOBER 10, 2013 2013 Rodrigo Gómez Central Bank Award
CEMLA's Board of Governors decided to grant the 2013 Rodrigo Gómez Central Bank Award to Bruno Silva Martins and Ricardo Schechtman, officials from the Banco Central do Brasil, for their study entitled "Loan Pricing Following a Macroprudential within-Sector Capital Measure".
OCTOBER 10, 2013 XLIX Meeting of Governors of Latin America, Spain and the Philippines
at the IMF-World Bank
CEMLA coordinated the XLIX Meeting of Governors of Latin America, Spain and the Philippines at the IMF and World Bank, held on October 10, 2013, in Washington D.C. On this occasion, Dr. José Viñals, Financial Counselor and Director of the Monetary and Capital Markets Department of the International Monetary Fund, was present as the lead speaker. Dr. Viñals made an interesting presentation on "U.S. Monetary Policy and Emerging Markets´ Challengess".
november 21, 2012 Relaunching of Monetaria On November 21, 2012, during the XVII Annual Meeting of CEMLA´s Central Bank Researchers Network, a special event was organized to relaunch the Center´s economic journal Monetaria. Several of the papers included in the first issue of this new phase of Monetaria were presented at this event. The contents of this issue was prepared by invited authors who contributed with articles within the topic Lessons from the Financial Crisis for Latin America and the Caribbean. The call for papers for the following issues of Monetaria is now open. Papers can be submitted in Spanish, English or Portuguese, and the journal will be published in identical versions in English and Spanish. Starting with the second number of 2013, the contents of the journal will be selected on the basis of peer review refereeing (double blind).