Financial Market Commission

Basel III standards

CMF reports on annual qualification of systemically important banks, sets requirements

With information reported by banks as of December 2025, the Commission decreed (with prior favorable agreement by the Central Bank of Chile) that Banco de Chile; Banco de Crédito e Inversiones; Banco del Estado de Chile; Banco Itaú Chile; Banco Santander-Chile; and Scotiabank Chile retain their status of systemic relevance.
Said status entails the same additional core equity requirements defined during the previous review period, except for Banco del Estado de Chile - whose core requirement increases from 1.25 to 1.5 percent.

March 30, 2026 - The Board of the Financial Market Commission (CMF) approved, through Resolution No. 3,399, the annual qualification of systemically important banks and additional requirements for them. This is pursuant to the General Banking Act (LGB) and the provisions set forth in Chapter 21-11 of the Updated Compilation of Banking Regulations to identify systemically important banks.

Said regulation defines a methodology consisting of four factors that reflect the impact of a bank's financial deterioration or eventual insolvency would have on the financial system. These factors are:

Size of the bank.
Interconnection of the bank with other financial entities.
Degree of substitution in its provision of financial services.
Complexity of its business model and operating structure.

According to this methodology, and with prior favorable agreement by the Central Bank of Chile, the Commission decreed that the same entities (in alphabetical order) deemed systemic last year retain their status this year: Banco de Chile; Banco de Crédito e Inversiones; Banco del Estado de Chile; Banco Itaú Chile; Banco Santander-Chile; and Scotiabank Chile.

Pursuant to current regulations , the CMF agreed to maintain its additional core equity requirements as part of risk-weighted assets of 1 percent for Banco Itaú Chile; 1.25 percent for Banco de Chile and Scotiabank Chile; and 1.5 percent for Banco Santander-Chile and Banco de Crédito e Inversiones. Meanwhile, the requirement for Banco del Estado de Chile increased from 1.25 to 1.5 percent.

This is the fifth year of defining additional core equity requirements derived from identifying systemically important banks. Pursuant to their gradual implementation, additional core equity requirements must be constituted in December 2026.