The Board of the Chile Financial Market Commission sanctioned Banco Santander Chile with a UF 2,500 fine for breaching Chapter 21-13 of the Updated Compilation of Banking Regulations. Between April 2023 and January 2025, the bank reported a lower-than-required economic value delta (EVE) sensitivity through Regulatory File R13 (Banking Book Market Risk), reflecting weaknesses in the controls required to ensure regulatory compliance and resulting in inaccurate information being submitted to the CMF. The CMF noted the bank had sufficient headroom against minimum regulatory requirements to meet its capital requirements, so additional capital contributions were not required as a reallocation of effective equity components was sufficient.
Chile Financial Market Commission 2026-01-30
Chile Financial Market Commission fines Banco Santander Chile UF 2,500 for understated EVE sensitivity reporting
The Chile Financial Market Commission fined Banco Santander Chile UF 2,500 for breaching Chapter 21-13 of the Updated Compilation of Banking Regulations. The bank inaccurately reported its economic value delta sensitivity, revealing control weaknesses. Despite this, the bank maintained sufficient capital headroom, negating the need for additional capital contributions.