Chile's Financial Market Commission (CMF) issued new Regulatory Files introducing updated information requirements for payment card issuers and operators, with reporting focused on revenues and the costs of card issuance and operation. The objective is to deepen transaction and operational data available for assessing regulatory change impacts, analysing market developments, and supervising compliance with maximum fee limits, including interchange rates. The Files apply to both banking and non-banking issuers and operators and aim to measure key data of the four-party model on an individualized basis, including specific registries designed to monitor when interchange rates are exceeded. The final version was adjusted following a consultation held between 16 September and 25 October 2024, which led to clarified definitions for reporting entities and revised implementation timeframes. The first report under the new Files must include data as of June 2025 and be submitted in July, in accordance with the reporting instructions.
Chile Financial Market Commission 2025-01-08
Chile's Financial Market Commission issues new reporting files on payment card issuer income and costs to monitor interchange rate limits
Chile's Financial Market Commission (CMF) has introduced new Regulatory Files for payment card issuers and operators, focusing on revenues and costs to enhance data for regulatory impact assessment and compliance supervision. The Files apply to both banking and non-banking entities, with specific registries to monitor interchange rate compliance. Adjustments were made post-consultation to clarify reporting definitions and timelines.