Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.

Chile has fairly developed payment, clearing, and settlement infrastructures. Sistema liquidación bruta en tiempo real (real time gross settlement (LBTR) is largely compliant with the principles for financial market infrastructures (PFMI), and is s...

Full description

Bibliographic Details
Main Author:	World Bank Group
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	clearing and settlement financial oversight financial regulation risk
Online Access:	http://documents.worldbank.org/curated/en/937131481019427523/Chile-Financial-sector-assessment-program http://hdl.handle.net/10986/25718

id	okr-10986-25718
recordtype	oai_dc
spelling	okr-10986-257182021-05-25T09:51:56Z Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A. World Bank Group clearing and settlement financial oversight financial regulation risk Chile has fairly developed payment, clearing, and settlement infrastructures. Sistema liquidación bruta en tiempo real (real time gross settlement (LBTR) is largely compliant with the principles for financial market infrastructures (PFMI), and is sound from an operations perspective. ComBanc has been also assessed as sound from a (financial, operational) risk management perspective. Additional steps to improve compliance of ComBanc with the PFMI are warranted, especially with regard to governance arrangements and management of investments risk. Total of five FMIs were assessed as part of review of standards and codes (ROSC), although one of these operates both as a central counterparty (CCP) and as a securities settlement system (SSS) for different segments of the exchange-traded securities market, and as a result a total of six FMI assessments were produced by the team. In addition, the responsibilities of authorities for FMIs were assessed. The main tool used by the assessment was the CPSS-IOSCO assessment methodology for the principles for financial market infrastructure and the responsibilities of authorities. In addition to the self-assessments, other sources of information included the applicable laws and regulations, as well as each FMI’s main policies and internal documents (for example, detailed policies, and processes and procedures for certain key areas) which were shared by the FMIs with the assessors, and other information available at each FMI’s website (for example, statistics). The World Bank Group (WBG) and local teams also met with a number of users of these FMIs, including two large commercial banks and two brokers-dealers that are not part of local bank-lead conglomerates. 2016-12-12T23:12:06Z 2016-12-12T23:12:06Z 2016-05 Report http://documents.worldbank.org/curated/en/937131481019427523/Chile-Financial-sector-assessment-program http://hdl.handle.net/10986/25718 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program Latin America & Caribbean Chile
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	clearing and settlement financial oversight financial regulation risk
spellingShingle	clearing and settlement financial oversight financial regulation risk World Bank Group Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.
geographic_facet	Latin America & Caribbean Chile
description	Chile has fairly developed payment, clearing, and settlement infrastructures. Sistema liquidación bruta en tiempo real (real time gross settlement (LBTR) is largely compliant with the principles for financial market infrastructures (PFMI), and is sound from an operations perspective. ComBanc has been also assessed as sound from a (financial, operational) risk management perspective. Additional steps to improve compliance of ComBanc with the PFMI are warranted, especially with regard to governance arrangements and management of investments risk. Total of five FMIs were assessed as part of review of standards and codes (ROSC), although one of these operates both as a central counterparty (CCP) and as a securities settlement system (SSS) for different segments of the exchange-traded securities market, and as a result a total of six FMI assessments were produced by the team. In addition, the responsibilities of authorities for FMIs were assessed. The main tool used by the assessment was the CPSS-IOSCO assessment methodology for the principles for financial market infrastructure and the responsibilities of authorities. In addition to the self-assessments, other sources of information included the applicable laws and regulations, as well as each FMI’s main policies and internal documents (for example, detailed policies, and processes and procedures for certain key areas) which were shared by the FMIs with the assessors, and other information available at each FMI’s website (for example, statistics). The World Bank Group (WBG) and local teams also met with a number of users of these FMIs, including two large commercial banks and two brokers-dealers that are not part of local bank-lead conglomerates.
format	Report
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.
title_short	Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.
title_full	Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.
title_fullStr	Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.
title_full_unstemmed	Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.
title_sort	chile financial sector assessment program : detailed assessment report of cclv (ccp), contraparte central, s.a.
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/937131481019427523/Chile-Financial-sector-assessment-program http://hdl.handle.net/10986/25718
_version_	1764459976573583360

Chile Financial Sector Assessment Program : Detailed Assessment Report of CCLV (CCP), Contraparte Central, S.A.

Similar Items