The Chile Financial Market Commission has opened a new consultation on a draft regulation that would set minimum equity, collateral, indebtedness and liquidity requirements for securities intermediaries and commodity exchange brokers, using a risk weighted assets approach aligned with international practice. The revised proposal incorporates changes reflecting feedback from the July to August 2024 consultation and adds new provisions. Key updates include an option to use a time bands methodology to calculate equity for interest rate market risk, and a reduction in the credit risk weight from 0.5 to 0 percent for transactions cleared through clearing and settlement firms regulated under Law No. 20,345. The draft also updates risk management assessment criteria to align with General Rules No. 502 on fintech and No. 526 on general fund managers, adjusts qualification parameters by business volume blocks, and introduces a new section on financial collateral, including specific equity requirements for repo transactions and separate rules for those cleared through central counterparties. Comments can be submitted via the CMF website’s Regulations Under Consultation section until June 23, 2025.

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