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CMF reports on Maximum Conventional Rate update

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Pursuant to the provisions of Article 7 of Law No. 18,010 on regulations for credit operations and other money obligations indicated therein, the Financial Market Commission (CMF) states:

  • The current interest rate for non-adjustable operations in local currency for operations of 90 days or more and above the equivalent of UF 5,000 was 5.98 percent per year for the monthly period beginning on October 14, 2021.
  • The Central Bank of Chile, by means of official communication No. 10/258 dated October 20, 2021, informed the Commission about the bidding of a 10-year Treasury Bond in Chilean pesos. An amount of CLP 140 billion was allotted at an annual rate of 6.48 percent, higher than allowed for these operations.
  • In accordance to Article 7 of said Law, the current interest rate for operations of 90 days or more and above the equivalent of UF 5,000 as determined on Certificate No. 10/2021 (published by the CMF in the Official Gazette on October 14, 2021) is updated to 6.48 percent per year.
  • As a result, the maximum conventional rate for these operations is also updated to 9.72 percent per year from October 19, 2021 until the day before the next certificate is published by the CMF.

This news item was originally published by the Commission for the Financial Market (CMF CL). For more information, please see the Source Link.

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