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BULLETIN OF THE COLOMBIAN CENTRAL BANK

Changes to the External Resolution No. 8 of 2000 and the DCIN-83 External Regulatory Circular

By means of Bulletins No. 39 and 40 of November 23rd and 24th 2017, the Colombian Central Bank modified some aspects of the foreign exchange regulations on loans between residents and intermediaries of the foreign exchange market

 

First, it was established that foreign external loans between residents and intermediaries of the foreign exchange market can be stipulated, disbursed and paid in Colombian legal currency. The disbursement shall be carried out to accounts for the exclusive use of external credits operations. Prior to this modification, these operations were permitted only to multilateral credit entities.

Additionally, Forms No. 6 and No. 7 were modified, including the concepts of fractionation and substitution of active and passive credits and establishing credit consolidations.