Los Presentes es un conjunto escultórico en bronce del artista costarricense Fernando Calvo, ubicado en la plazoleta exterior del Banco Central de Costa Rica desde 1989. La obra está compuesta por nueve figuras humanas de tamaño natural que representan a los habitantes tradicionales del Valle Central y al campesinado costarricense.

Central Bank instruments

Monetary stabilization bonds

The Monetary Stabilization Bonds (MSBs) are debt securities issued by the Central Bank of Costa Rica to absorb excess money from the economy. By placing these bonds in the financial market, the BCCR is able to manage systemic liquidity effectively, thereby contributing to keeping inflation under control and guaranteeing the stability of short- and medium-term interest rates.

Where topurchase MSBs

These bonds are made available to the public through brokerage firms authorized by the General Superintendency of Securities, which may, in turn, acquire them through auctions and/or direct placements conducted during events held on a weekly basis.

As communicated to the market in the BCCR’s Internal Borrowing Plan, fixed-rate instruments (BCFIJA) and floating-rate securities linked to the sovereign yield curve (BCVARI) will be offered this year, mainly at two-year maturity.

With a view to outlining the fundamental aspects of the valuation of fixed-income instruments, the Central Bank has made available to the market the methodological note “Valuation of Fixed-Income Instruments: Fixed-Rate and Floating-Rate Bonds” (link to attached file) (Spanish).

Fixed rate:

  • Monetary Stabilization Bonds with fixed-rate coupons.
  • Denominated in colones.
  • Coupons payable on a six-month basis.
  • The coupon rate is set at issuance and remains unchanged over the life of the instrument.
  • Issued with maturities ranging from 1 to 10 years.
  • The minimum investment amount is CRC 100,000.00, in increments of CRC 50,000.00 thereafter.

Floating rate:

  • Monetary Stabilization Bonds with floating-rate coupons linked to the sovereign yield curve.
  • Denominated in colones.
  • Coupons payable on a six-month basis.
  • The coupon rate is set every six months as follows: the 180-day rate of the sovereign yield curve in colones published by the Central Bank of Costa Rica, in force two working days prior to the beginning of each interest payment period, divided by one minus the corresponding tax rate.
  • Issued with maturities ranging from 2 to 10 years.
  • The minimum investment amount is CRC 100,000.00, in increments of CRC 50,000.00 thereafter.