CMF begins working process with banking industry regarding regulatory proposal to adopt Internal Models
The event, inaugurated by the Chairwoman of the CMF, allows the exchange of opinions between the industry and the regulator, as well as observations to enrich the development and subsequent implementation of the regulation.
September 4, 2026 - The Financial Market Commission (CMF) began a working process with banking industry representatives to further develop the regulatory proposal that introduces the new Chapter 21-9 of the Updated Compilation of Banking Regulations (RAN). This proposal consolidates and refines the requirements for the adoption of Internal Methodologies (IM) in the calculation of provisions and Credit Risk-Weighted Assets (CRWA).
During the event, industry representatives and the regulator analyzed the key provisions, exchanged views, and addressed questions regarding their future implementation.
The IMs correspond to the set of human and technical resources, processes, and quantitative models developed by institutions based on their own data. Once implemented, these methodologies will enable banks to measure and manage the risks they are exposed to with greater precision, considering the specific characteristics of their portfolios and business models.
CMF Chairwoman Catherine Tornel opened the event, kicking off the proceedings by highlighting the importance of this regulatory proposal. In that vein, she emphasized, "The goal of this proposal is moving toward a banking industry capable of measuring its risks more accurately so that they are consistent with each institution's business model and risk appetite, based on a robust governance framework, and ensuring that appropriate prudential safeguards are in place."
In turn, ABIF General Manager Luis Opazo stated, "At ABIF, we value this collaborative effort, which allows us to jointly address the challenges associated with the development of internal methodologies. This is a gradual, long-term process that requires time and expertise, so making timely progress in this area is key to continuing to strengthen risk management in the financial system."
The adoption of these methodologies will be voluntary and will require prior authorization from the CMF. Once authorized, compliance with them will be subject to ongoing monitoring by the Commission's supervisory teams.
The workshop held today is part of the public consultation that began on August 3, 2026, and will run for 12 weeks starting on that date. The consultation process is open to any individual or entity wishing to submit comments through the designated channels.
Details of the proposal are available in the Regulations Under Consultation section of the CMF website.
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