The Central Bank of Chile has launched a public consultation on a proposed regulatory framework to strengthen liquidity management by central counterparty entities (ECCs). The draft is designed to encourage ECC participants to meet guarantee obligations via cash deposits in the ECC’s Additional Settlement Account held at the central bank as a participant in the Real-Time Gross Settlement (LBTR) system, and to permit remuneration on eligible cash guarantee balances. The proposal would set conditions under which ECCs with an Additional Settlement Account in the LBTR system can access remuneration for guarantees posted in cash and in Chilean pesos in that account. The stated objective is to make cash held at the central bank financially neutral compared with other liquidity deposits, while improving the speed with which funds can be mobilised under stress. The new framework would be added to the Central Bank of Chile’s Compendium of Financial Regulations as Chapter III.H.7, “Liquidity Management for Central Counterparty Entities”, supported by an explanatory note. The consultation runs until 29 October 2025.
Central Bank of Chile 2025-10-16
Central Bank of Chile launches consultation on liquidity management rules for central counterparties with remuneration of cash guarantees in its RTGS accounts
The Central Bank of Chile is consulting on a proposed regulatory framework to enhance liquidity management by central counterparty entities (ECCs). The draft encourages ECC participants to meet guarantee obligations via cash deposits in the ECC’s Additional Settlement Account at the central bank, allowing remuneration on eligible cash balances. The framework aims to ensure financial neutrality of cash held at the central bank and improve fund mobilisation speed under stress.