On November 19, the Chilean Central Bank (BCCh, for its acronym in Spanish) sent an informative Circular Letter about the update of the Operational Continuity Procedures of the Real Time Gross Settlement System (RTGS). Meanwhile, the Financial Markets Commission (CMF, for its acronym in Spanish) today launched a public consultation for a regulation setting asset-measuring guidelines to be used by banks in order to comply with the legal limits established in the General Banking Law.
The BCCh’s Circular Letter contains a description of the operational continuity procedures which should be applied in the event of contingencies regarding critical RTGS elements. This is specifically related to situations affecting the relationship of participants or third parties with the system in terms of connection, communications or operation.
The CMF has launched a public consultation in line with the Basel III framework to study the regulatory proposal for new guidelines to calculate the effective equity of banks established in Chile. This applies to both the local consolidated basis (the bank and its subsidiaries in Chile) and a global basis (the bank, its subsidiaries in Chile and abroad).