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Chile Financial Sector Assessment Program : Detailed Assessment Report of LBTR, Sistema de Liquidacion Bruta en Tiempo Real.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Financial Sector Assessment Program
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Finance and Financial Sector Development.
- Financial and Private Sector Development.
- Financial Regulation.
- Financial Regulation & Supervision.
- Governance.
- International Financial Standards and Systems.
- Local Subjects:
- Finance and Financial Sector Development.
- Financial and Private Sector Development.
- Financial Regulation.
- Financial Regulation & Supervision.
- Governance.
- International Financial Standards and Systems.
- Other Title:
- Chile Financial Sector Assessment Program
- Place of Publication:
- Washington, D.C. : The World Bank, 2016.
- System Details:
- data file
- Summary:
- Chile has fairly developed payment, clearing, and settlement infrastructures. Sistema liquidacion 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. A total of five financial market infrastructures (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).
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