Chile’s Financial Market Commission has issued a public consultation on amendments to the regulatory framework for state-guaranteed loans granted by banks and their subsidiaries, aimed at broadening reporting coverage and strengthening accounting information used to assess the FOGAPE and Special Guarantee Fund (FOGAES) programs. The proposal would extend the obligation to submit Information Systems Manual for Banks Files C70, D62 and E26 to banking subsidiaries and banking-activity support companies, capturing entities that have granted FOGAES-guaranteed loans but whose operations were not being reported. It also adds new supplementary accounts to Chapter C-3 of the Compendium of Accounting Standards to enhance assessment of FOGAPE and FOGAES, including the new housing loan subsidy program created by Law No. 21,748. If adopted, the changes would apply from data as of September 2025 (submitted in October). Where entities have operations under the “New Home Support” and “Regional Productive Recovery” programs between June and September 2025, they would be required to rectify and resubmit Files C70, D62 and E26 for the relevant months.
Chile Financial Market Commission 2025-07-29
Chile Financial Market Commission consults on expanded reporting and accounting rules for state guaranteed loans under FOGAES and FOGAPE
Chile’s Financial Market Commission has opened a public consultation on proposed amendments to the regulatory framework for state-guaranteed loans, aiming to enhance reporting and accounting for the FOGAPE and Special Guarantee Fund (FOGAES) programs. The proposal extends reporting obligations to banking subsidiaries and support companies and adds new supplementary accounts. Changes, if adopted, would be effective from September 2025 data, with specific rectification requirements for certain programs.