About the Bank - Who We Are

Objectives

CEMLA is the association of central banks of Latin America and the Caribbean established in September 1952 to carry out the following objectives:

To promote a better understanding of monetary and banking matters in Latin America and the Caribbean (LAC), as well as the pertinent aspects of fiscal and exchange rate policies;
To assist in improving the qualifications of central bank and other financial agencies' personnel in LAC through the organization of seminars and special training courses and the publication of surveys and research studies;
To conduct research and systematize the results of past experience in the above fields; and
To inform on developments in regional and international monetary and financial policy issues.

CEMLA is composed of Associate and Collaborating members. Associate members are central banks or similar institutions found in Latin America that pay membership dues according to quotas established by the Assembly. There may be only one Associate member per country. Collaborating members are organizations that provide CEMLA regular financial support or other forms of support. Admission as a Collaborating member requires approval by the Governing Board. Only Associate members have the right to vote at the CEMLA Assembly. Membership in the Center, whether Associate or Collaborating, is not transferable.
At present, CEMLA has 48 member institutions: 29 Associate members and 19 Collaborating members (10 central banks, including the Bangko Sentral ng Pilipinas (BSP), and 9 other institutions). Each Associate member may participate in Assembly discussions and has one vote.

The Assembly is CEMLA's highest decision-making body. It comprises all members (Associate and Collaborating) and meets regularly twice a year, or as necessary.

The Board of Governors is currently chaired by Banco de España, for the 2025-2027 term. It consists of seven (7) members elected by the Assembly, with Bank de México entitled to a permanent seat as the host country.

The BSP has been a Collaborating member of CEMLA since 1965. As a Collaborating member, the BSP may: (i) attend the Assembly meetings, (ii) participate in the Governing Board as a general or special consultant, and (iii) access the activities and services organized by the Center, among others.

CEMLA also convenes the Meeting of Central Bank Governors of its central bank members. The central bank governors meet annually to discuss issues of mutual relevance to member countries in the region. These meetings are held on the sidelines of the IMF/World Bank Annual Meetings and are co-chaired by central banks from Latin America and the Caribbean (LAC). The BSP is the sole Collaborating Member from Asia.