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CENTRAL BANK ISSUES OPERATING RULES FOR FINANCIAL INSTRUMENT CLEARING AND SETTLEMENT SYSTEMS

Introduction

The Central Bank of Chile has issued new operating rules for the clearing and settlement systems of financial instruments, aimed at ensuring the normal functioning of the country’s financial markets.

New Regulations

The regulations set out the procedures and requirements for securities depositories and custodians to operate in Chile. These entities provide securities accounts, centralized custody services, and asset-related services, and are subject to regulation and supervision by the Financial Market Commission.

• Securities Depositories and Custodians: Regulation No. [Number] sets out the procedures and requirements for securities depositories and custodians to operate in Chile.
• Banking Institutions: The Central Bank has updated its rules governing banking institutions, including regulations on:
  • Mortgage transactions
  • Credit control and collection
  • Savings
  • Current accounts
  • Guarantees and collaterals
  • Financial investments

Payment Cards

The Central Bank has also issued new regulations on the issuance and operation of payment cards, designed to promote the expansion of the retail payments market and increase access to electronic means of payment for a wider population.

• Payment Cards: Regulation No. [Number] sets out the requirements for issuers and operators of payment cards, including:
  • Credit card issuers
  • Debit card issuers
  • Issuers of cards with provision of funds

Effective Date

The regulations come into effect immediately.

Contact

For more information, please contact the Central Bank of Chile’s Communication Department at [Email] or [Phone number].

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