CMF publishes for consultation regulation on minimum equity of high-value payment clearinghouses

The proposal sets equity accounts or items to be considered by operators of high-value payment clearinghouses. This is to determine an equity proving compliance with requirements established in the regulations governing how these entities operate.

June 14, 2022 - The Financial Market Commission (CMF) has published for consultation a regulatory proposal regarding the minimum equity to be accredited by operators of high-value payment clearinghouses (HVPC). Said proposal sets equity accounts or items to be considered by operators of HVPCs to calculate their equity.

Chapter III.H.5, Number 8 of the Compendium of Financial Standards of the Central Bank of Chile states that HVPC operators must have a minimum equity of at least UF 30,000 for clearinghouses in foreign currencies; UF 60,000 for clearinghouses in local currency; and UF 100,000 for operators of both local and foreign currencies.

The regulatory proposal defines the account or equity items to be deducted from the accounting equity and determine an adjusted equity that guarantees the operation of HVPCs. This procedure follows other minimum equity regulations like General Rule No. 18 on securities intermediaries and General Rule No. 266 on clearing and settlement system management companies.

Interested parties can access the Draft Rules and Norms section of the CMF website until June 20, 2022 to check the details of the proposal and submit their feedback.

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