Functions of the Central Bank of Chile

The current structure of the Central Bank of Chile has been defined not only by modifications to the basic constitutional law, but also to changes in the national and international environment.

These changes include, because of the internationalization of the world economy, greater trade and financial integration of the Chilean economy to that of the rest of the world, and technological innovation, mainly in the field of information and communications technology.

Similarly, the new basic law brought a significant change to the functions of the Central Bank and in its role, which has moved from an essentially control and regulation-oriented approach to that of general supervision and policy development.

Because of this, Central Bank autonomy also had implications in terms of its own internal management and administration. This is because of the implicit commitment to society, which requires the responsible management of human and material resources essential to its work, by establishing high standards and demands in terms of efficiency and productivity.

This process has brought with it a more flexible organizational structure, a more horizontal organization, the gradual decentralization of decision-making, the application of new management policies, and the inclusion of new technologies.