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

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News
    News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News
    News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582