Central Bank of Chile announces resignation of Financial Policy Division head Rosario Celedón and appoints Miguel Fuentes as interim replacement

The Central Bank of Chile’s Board announced that Rosario Celedón has resigned as Head of the Financial Policy Division, with effect from 31 July, and named Miguel Fuentes as interim head. Until her departure, Celedón will act as adviser to the Board on matters not related to current developments and will not participate in the Bank’s economic policy meetings, while supporting the division’s transition. During her tenure, the Bank implemented the Countercyclical Capital Buffer as a macroprudential tool, updated policy frameworks to improve responses to risk scenarios, and developed new models and indicators to monitor financial risks, incorporating macrofinancial analysis and microdata. Work on regulatory and technological modernisation included updates to rules on foreign exchange, savings accounts, payment instruments and low-value clearing houses, exploratory reports on a possible central bank digital currency, and the establishment of the Payments System Report. The division also supported the Bank’s participation in legislative debates on the Financial System Resilience Law and a draft framework on bank resolution and deposit insurance, reinforced coordination with other financial authorities on systemic risk monitoring, and maintained engagement in international fora including the Bank for International Settlements, the Financial Stability Board and the Center for Latin American Monetary Studies. Fuentes will serve on an interim basis until a permanent successor is appointed.