SBIF published circular on amendments to Title II of Chapter 1-13 of the updated collection of standards. The amendments are intended to promote good corporate governance in banking institutions. SBIF also published frequently asked questions (FAQ) related to the amendments.
Taking into account the importance that a good corporate governance represents in the management of the banks, SBIF has incorporated, within the existing regulations, new elements of good corporate governance to be considered in the framework of the evaluation that is dealt within Title II of the Chapter 1-13 of the Updated Collection of Standards. For the development of these standards, feasible international recommendations were considered, within the framework of the legislation applicable to the national banking industry. The considered recommendations and international best practices include Corporate Governance Principles for BIS Banks (2006/2010/2015), the Corporate Governance Principles (OECD 1999/2004), and some elements of the regulations in the United States, United Kingdom, Germany, Belgium, Holland, France, and Spain.
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Keywords: Americas, Chile, Banking, Corporate Governance, SBIF
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