2013-09-182013-09-182013-09-182013-09-18https://repositorio.banrep.gov.co/handle/20.500.12134/5922We set a dynamic stochastic model for the interbank daily market for funds in Colombia. The framework features exogenous reserve requirements and requirement period, competitive trading among heterogeneous commercial banks, daily open market operations hePDFspaOpen AccessAn Exploration on Interbank Markets and the Operational Framework of Monetary Policy in ColombiaWorking PaperE44 - Financial Markets and the MacroeconomyG21 - Banks; Depository Institutions; Micro Finance Institutions; MortgagesE52 - Monetary PolicyInterbank MarketOvernight RatesReserve DemandAcceso abiertoAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0E44 - Mercados financieros y macroeconomíaE52 - Política monetariaG21 - Bancos; Instituciones de depósito; Instituciones Microfinancieras; HipotecasLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.https://hdl.handle.net/20.500.12134/5922