Regulatory Alerts2026-07-28
Added · Updated
Operational and Services External Circular DEFI-501, Subject 4: Rules applicable to mandatory investments in Agricultural Development Bonds and their substitute placements pursuant to articles 220 and 221 of Law 2294 of 2023 and article 9 of Legislative Decree 0175 of February 24, 2026
This circular repeals Operational and Services External Circular DEFI-501, Subject 4, issued on June 16, 2026, which concerned rules for mandatory investments in Agricultural Development Bonds and their substitute placements. This action is taken in response to Constitutional Court Judgment C-221 of 2026, which declared article 9 of Legislative Decree 0175 of February 24, 2026, unconstitutional. Consequently, the ordinary regime outlined in article 112 of the Organic Statute of the Financial System and External Resolution 3 of 2000 of the Banco de la República is immediately reactivated for credit institutions. The circular is effective from July 28, 2026.
Document No: OT/PF/JUL/2026/146993 Page 4 - 00 Recipient: Credit institutions Superintendencia Financiera de Colombia, Main Office and Branches of the Banco de la República. Subject 4: Rules applicable to mandatory investments in Agricultural Development Bonds and their substitute placements pursuant to articles 220 and 221 of Law 2294 of 2023 and article 9 of Legislative Decree 0175 of February 24, 2026 Operational and Services External Circular DEFI-501, Subject 4: “RULES APPLICABLE TO MANDATORY INVESTMENTS IN AGRICULTURAL DEVELOPMENT BONDS AND THEIR SUBSTITUTE PLACEMENTS PURSUANT TO ARTICLES 220 AND 221 OF LAW 2294 OF 2023 AND ARTICLE 9 OF LEGISLATIVE DECREE 0175 OF FEBRUARY 24, 2026” of June 16, 2026, from the corporate manual of the Financial Stability Department, is hereby repealed. The foregoing, in accordance with the provisions of the Constitutional Court in Judgment C-221 of 2026 (M.P. Paola Meneses Mosquera), as per the press release of July 23, 2026, published by the same corporation, which declared unconstitutional, among others, article 9 of Legislative Decree 0175 of February 24, 2026 “By which extraordinary measures are adopted for financing, credit and debt relief, and other provisions are issued for the reactivation of the agricultural and rural development sector within the framework of the Economic, Social and Ecological Emergency declared by Decree number 150 of 2026”. According to the aforementioned press release, the Constitutional Court “ordered the immediate reactivation of the ordinary regime provided for in article 112 of the Organic Statute of the Financial System (EOSF) and in External Resolution 3 of 2000 of the Banco de la República”. This circular is effective from its issuance. Sincerely,
HERNANDO VARGAS HERRERA Technical Manager ANDRÉS MURCIA PABÓN Monetary and International Investments Deputy Manager OPERATIONAL AND SERVICES EXTERNAL CIRCULAR DEFI-501 FINANCIAL STABILITY DEPARTMENT Date: Tuesday, July 28, 2026