On Jan. 17, CHL CMF agreed on 2nd implementation of Pillar 2 duties.
CHL CMF reported that it is applying for second time regulations on asset, capital requirements according to Pillar 2 to the same institutions as the previous year.
Decision made based on Article 66 quinquies of General Banking Law and Chapter 21-13 of the Updated Compilation of Banking Regulations (RAN), per Resolution 780.
Follows CHL CMF Oct. 2024 proposed capital adequacy, risk revisions, see #229723.
Equity Requirements
Will apply regulations of additional capital requirements according to Pillar 2.
The capital requirements will be applied to Banco Bice and Banco BTG Pactual Chile.
It will also be applied to the Banco Consorcio, CHL CB, Banco del Estado de Chile, Banco Internacional, Banco Security, HSBC Bank (Chile) and Scotiabank Chile.
The Council's decision resulted in reductions in Pillar 2 capital requirement for 3 banks, maintenance of requirement for another 3 entities and increase for the remaining 3.
New capital contribution won't be necessary, reallocation of components is enough.
Effectiveness
The 50% equity requirements must be established by banks on/before Jun. 30, 2025.
