On May 25, the Ministry of Finance, the Financial Superintendency of Colombia (SFC, in Spanish) and the Banco de la República (BanRep, in Spanish) published new regulations concerning topics of interest for the finance sector. See below for more details:

• The Ministry of Finance issued Decree 685, establishing the financial characteristics and conditions of issue of the so-called Solidarity Bonds (TDS), as well as the corresponding obligatory investment amounts. In addition, it establishes that obligated subjects may make the compulsory investment in up to two (2) installments. The first installment may be paid until May 28 and must represent at least 80% of the investment. The second, which must pay off the remainder, may be made until July 13, 2020. The decree is already in force. 
• The SFC published Circular 19 providing a range of tools to enable entities to calculate the obligatory amounts to be invested in TDS. Credit establishments must send a communication to the SFC indicating the amount of the compulsory investment that they intend to pay according to the formulas established in the circular. The measure is already in force.
• Meanwhile, the BanRep issued circular DFV-412 , setting the general conditions required to administrate the TDS in the Central Securities Depository (DCV in Spanish) belonging to the entity.  The document explains that BanRep’s actions will be based on instructions and information provided by the Ministry of Finance, as well as on data provided by the financial intermediaries acting as direct depositors in the DCV. The measure is also already in force.