Bank meets critical local IRRBB requirements through Circular Externa 025 guidelines with Murex platform
MEDELLÍN, Colombia, September 17, 2025— Murex is proud to announce Bancolombia is live with MX.3 for Hedge Accounting.
IFRS 9 requires banks to assess expected credit losses on loans and receivables, including trade receivables, replacing the previous model based solely on incurred losses by measuring interest rate risks for banking book (IRRBB).
To meet these requirements and make optimal use of its infrastructure, the bank extended its leverage of the Murex MX.3 platform on AWS through adoption of MX.3 for Hedge Accounting. The solution automates hedge designation, effectiveness testing, reporting and accounting reclassification. It supports fair value, cash flow and net investment hedges in foreign exchange transactions.
This implementation further strengthens Bancolombia’s strategic use of MX.3, which supports front-to-back operations and risk management across multiple asset classes, including fixed income, foreign exchange and derivatives.
With Murex’s support, the bank complies with IRRBB—known as Riesgo de Tasa de Interés del Libro Bancario in Spanish—and External Circular 025, aligning with Colombian regulations to improve interest rate risk management in the bank’s portfolio and ensure compliance with international accounting.
“We greatly value our collaboration with the Murex team in South America,” said Bancolombia Balance Sheet Hedging Manager Daniel Ocampo. “Murex’s deep expertise in implementing hedge accounting solutions has been instrumental in advancing our bank’s standards.”
“The regulatory challenges surrounding hedge accounting for clients in Latin America are constantly evolving,” said Imane Cherradi, head of Murex Americas. “The Murex solution is designed so they can now align their risk management and accounting strategies.”
