Chile Financial Market Commission reaffirms six systemically important banks and lowers Banco de Crédito e Inversiones’ additional core equity requirement to 1.5 percent

Chile’s Financial Market Commission has completed its annual assessment of systemically important banks, confirming that six banks retain their systemic status and setting their additional core equity requirements for the review period. The calibration is unchanged from the prior year for five banks, while Banco de Crédito e Inversiones’ additional requirement is reduced. With the Central Bank of Chile’s favourable agreement and using bank-reported data as of December 2024, the systemic banks remain Banco de Chile, Banco de Crédito e Inversiones, Banco del Estado de Chile, Banco Itaú Chile, Banco Santander-Chile and Scotiabank Chile. The CMF maintained additional core equity requirements of 1.0 percent for Banco Itaú Chile, 1.25 percent for Banco de Chile, Banco del Estado de Chile and Scotiabank Chile, and 1.5 percent for Banco Santander-Chile; Banco de Crédito e Inversiones’ requirement fell from 1.75 percent to 1.5 percent. The assessment is based on a systemic importance index reflecting bank size, interconnectedness, substitutability in providing financial services, and business model and operational complexity. As this is the final year of transitional implementation, the additional core equity requirements must be fully implemented by December 2025.