Featured Product

    CMF Consults on Systemic Importance Index and Accounting Compendium

    August 26, 2021

    The Commission for the Financial Market (CMF) in Chile is consulting to adjust the description of sub-factors used to calculate the index of systemic importance of banks, in accordance with the Chapter 21-11 of the Updated Compilation of Rules for Banks (RAN). Such sub-factors are reported through File R11 of the Information Systems Manual for banks. The aim of this adjustment is to move toward better quality of information for determining systemically important banks. The aim of the proposed changes is to clarify the instruments that should be excluded from sub-factor 11 (Assets at fair value) as well as modify the definition of sub-factor 12 (third-party assets under management of the bank). CMF has published a regulatory report that assesses the impact of this proposal and this consultation is open until September 06, 2021.

    CMF also published a consultation to update the December 2019 version of the Compendium of Accounting Standards for banks, in addition to the adjustments to certain files of the Information System Manual for banks. The Compendium of Accounting Standards, which was published in December 2019, is applicable from January 2022. The proposal under consultation incorporates the necessary accounting information to comply with full implementation of Basel III standards. The proposal addresses situations arising from internal analysis as well as feedback received from stakeholders in the banking system. The consultation was open until August 23, 2021.

     

    Related Links (in Spanish)

    Comment Due Date: September 06, 2021 (Adjustment of Sub-Factors)/August 23, 2021 (Compendium of Accounting Standards)

    Keywords: Americas, Chile, Banking, Accounting, Systemic Risk, Systemic Importance Index, Basel, Sub Factors, Information System Manual, Systematically Important Bank, Compendium of Accounting Standards, CMF

    Featured Experts
    Related Articles
    News

    OSFI Issues Results of Pilot on Climate Risk Scenario Analysis

    The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.

    January 20, 2022 WebPage Regulatory News
    News

    EC Issues Regulation on Adjustments to K-Factor Coefficients Under IFR

    The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).

    January 20, 2022 WebPage Regulatory News
    News

    ECB Issues Opinions on Green Bonds Standard and CRR Proposals

    The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.

    January 19, 2022 WebPage Regulatory News
    News

    ESRB Explores Policy Response to Risks Arising from Digitalization

    The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.

    January 18, 2022 WebPage Regulatory News
    News

    HKMA Consults on FIRO Code, Revises Policy on Foreign Exchange Risk

    The Hong Kong Monetary Authority (HKMA) is consulting on the draft Financial Institutions (Resolution) Ordinance (Cap. 628), or FIRO, Code of Practice chapter on liquidity and funding in resolution, until March 14, 2022.

    January 18, 2022 WebPage Regulatory News
    News

    FI Publishes Multiple Regulatory and Reporting Updates

    The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.

    January 17, 2022 WebPage Regulatory News
    News

    EU Authorities Address COVID-19 Reporting, MCD, and PSD2 Issues

    The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.

    January 17, 2022 WebPage Regulatory News
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7903