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    CMF Proposes Liquidity Rules for Banks in Chile

    October 27, 2022

    The Commission for the Financial Market (CMF) in Chile is seeking comments, until November 25, 2022, on establishing the general framework for the evaluation of liquidity adequacy of banks and the possibility of determining additional requirements for high-quality liquid assets. The regulation is based on the principles relating to liquidity risk management and the Internal Capital Adequacy Assessment Process (ICAAP) of the latest Basel Committee Agreement, in addition to the Internal Liquidity Adequacy Assessment Process (ILAAP) proposed by the European Banking Authority (EBA) and the guidelines published on this matter by the European Central Bank. The regulation will come into force as of April 2023, the date on which banks must send the first Liquidity Self-Assessment Report (IAL) in a simplified format and will be evaluated from the supervisory cycle beginning from January 2025. In addition, CMF also a normative report that evaluates the impact of these proposals and summarizes the central elements of this public consultation.

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    Keywords: Americas, Chile, Banking, Basel, Liquidity Risk, ICAAP, ILAAP, Reporting, CMF

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