Aggregated News From Investment Management Regulators

CMF updates information on the state of operation of supervised markets

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October 23, 2019.- The Financial Market Commission (CMF) informs that it continues to monitor the effects that incidents in the country may have on the normal functioning of the financial system under its supervision.

The Commission is in permanent contact with banks, insurance companies, fund managers, stock exchanges, market infrastructure entities, and government authorities. The aim is to coordinate any action necessary to ensure the proper functioning of the market, allowing individuals and companies to receive the most appropriate service possible from financial institutions, considering the situation.

As for the functioning of the banking system, all institutions have been required to continue adopting the necessary precautions and safeguards to ensure normal operation of their branches, ATMs, and electronic platforms. They have also been instructed to duly inform their customers of the location and hours of operation of authorized branches.

Said entities have reported to this Commission that their main electronic payment systems, such as debit cards, credit cards, and electronic transfers, are operating normally.

According to information gathered today, normalization continues in the operation of bank branches. The number of branches opened today nearly doubled compared to yesterday, from 647 to 1,260. This amounts to 61.5 percent of offices open to the public along the country.

As for ATMs nationwide, which includes the Redbanc, Banco del Estado de Chile and Falabella networks, the sustained process of normalization has also continued. 87 percent of ATMs out of a total of 7,690 are operating normally. This includes some ATMs with access difficulties due to their location.

Securities Transport Companies (ETVs, for their Spanish acronym), responsible for supplying ATMs, have continued to normalize their operation in the last few hours.

At the same time, insurance companies continued to report an increase in their locations of customer service; their online platforms are operating normally as well. Nevertheless, the Commission instructed them to strengthen their electronic platforms and give adequate continuity to the attention of their clients.

Likewise, the System of Consultations and Offers of Pension Amounts (SCOMP) is functioning normally, allowing the adequate processing of pension subscriptions in the modalities of life annuities in insurance companies and programmed retirement through AFPs.

Stock and commodity exchanges and market infrastructure entities also operated normally. Like in previous days, these entities announced an adjustment in their operating hours to facilitate the orderly settlement of transactions. The Santiago Stock Exchange and Electronic Exchange scheduled their closing for 2:00 PM, while the Commodities Exchange set it at 1:30 PM.

Regarding the functioning of the Financial Market Commission, its web services will be operating normally through the website www.cmfmascerca.cl, where it is possible to make queries, complaints or claims, as well as obtain information on services and procedures.

To facilitate the sending of information to this Commission by audited entities, public entities, and citizens in general, the CMF launched the website CMF sin Papeles (Paperless CMF), through which they can submit information, documents, and correspondence.

The CMF will continue to work in full coordination with the Ministry of Finance, the Central Bank, other regulators, and the relevant authorities to ensure the proper operation of the financial system and the capital market.

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