Service Retail Banking 88% Investment Services 35%
Specialism Operational Resilience 85% Supervision 82%
2026-03-09 14:21:58 · ggallwey@vixio.com
ID
2943155
GUID
47cc631e3cff28d99dfcf323f017ad5f

Classification

Service
Retail Banking (88%)

The update concerns operational procedures for real-time low-value payment system settlements managed by Colombia's central bank, directly addressing payment processing infrastructure and participant access to settlement mechanisms.

Investment Services (35%)

Low confidence — REQUIRES HUMAN REVIEW. While the MOL supports retail payment flows, this update is primarily about payment system infrastructure and settlement operations rather than retail banking products or consumer-facing banking obligations.

Specialism
Operational Resilience (85%)

The update establishes operational procedures and contingency protocols for a real-time payment settlement system, which constitutes regulatory guidance on system resilience and operational continuity for critical payment infrastructure.

Supervision (82%)

Mandatory inheritance: Operational Resilience requires the Supervision parent tag, reflecting the central bank's oversight role in ensuring payment system stability and participant compliance.

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TITLE: Colombia's Central Bank Updates Operational Mechanism for Real-Time Low-Value Payment System Settlements BODY: On March 5, 2026, the Banco de la República (Colombia's central bank) issued Circular Externa Operativa y de Servicios DSP-471, replacing its previous circular from October 30, 2025, regarding the Reglamento del Mecanismo Operativo para la Liquidación (MOL — Operational Mechanism for Settlement). The MOL processes settlement instructions for immediate payment orders and fund transfers (OP/TF Inmediatas) within Colombia's real-time low-value payment systems. The updated circular incorporates two significant modifications: it permits payment system administrators (Entidades Administradoras de Sistemas de Pago de Bajo Valor Inmediatos — EASPBVI) to use their own settlement schemes as operational contingencies when the MOL is unavailable, subject to notification to the central bank. Previously, this contingency measure was classified as a transition provision. Additionally, the circular modifies notification requirements for scenarios where participants experience unavailability lasting 20 minutes or longer that prevents customers from executing immediate payment orders. It also establishes notification protocols when EASPBVI apply inactivation measures to participants due to technical failures. The MOL operates 24/7/365, providing real-time gross settlement against deposit accounts maintained by participants at the Banco de la República. The circular establishes comprehensive procedures for participant access, liquidity management through configurable parameters, operational controls, and contingency protocols. Technical support is available through email (admimol@banrep.gov.co) and telephone channels. The circular applies to all EASPBVI and participants in Colombia's immediate low-value payment systems. The updated regulations are effective immediately upon publication. Participants requiring additional information should contact the Banco de la República through the designated communication channels specified in the circular.
  • Scraped:2026-03-09 14:21:58
  • Created:2026-03-09 14:21:58
  • By:ggallwey@vixio.com (58)