Large value payment systems provide the means to transfer funds of large value and importance to the economy (1). In Chile, these systems comprise the Real-Time Gross Settlement system, managed by the Central Bank of Chile, and the Large Value Payments Clearing House system, managed by ComBanc, a Bank Draft Support Company.
While in the first system the settlement of transactions is carried out immediately and severally, in the second one the clearing of all payment orders received during the day takes place, in order to subsequently settle a single daily net balance for each bank in the Real-Time Gross Settlement system.
Both systems process interbank transactions on behalf of clients and transactions from the Over-the-Counter securities market.
-
Marco de divulgación sobre la observancia de PFMI en el sistema LBTR
-
Chile FSAP Stand-alone ROSC PFMI CCLV-CCP
-
Chile FSAP Stand-alone ROSC PFMI CCLV-SSS
-
Chile FSAP Stand-alone ROSC PFMI ComBanc
-
Chile FSAP Stand-alone ROSC PFMI ComDer
-
Chile FSAP Stand-alone ROSC PFMI DCV
-
Chile FSAP Stand-alone ROSC PFMI Responsibilities
-
Compromiso Conjunto de Autoridades Chilenas para el Cumplimiento de los Principios para las Infraestructuras del Mercado Financiero
-
Marco de divulgación sobre la observancia de PFMI en el sistema LBTR
-
Gestión de Sistemas de Pagos de Alto Valor 2017
-
Gestión de Sistemas de Pagos de Alto Valor 2012
-
Capítulo Sistema de Pagos (por agregar)
-
Entidad de Contraparte Central (IEF, Anexo IV.1 del primer semestre del 2007)
-
Mejores prácticas sobre continuidad operacional (IEF, recuadro del segundo semestre del 2006)
-
Entrega contra pago en los sistemas de liquidación de valores (IEF, recuadro del primer semestre del 2006)
-
Utilización de los medios de pago minoristas en el período 1998-2005 (IEF, recuadro del primer semestre del 2006)
-
Modernización de los sistemas de pagos en Chile (IEF, recuadro del primer semestre del 2004).
-
Sistemas de pagos (IPOM, recuadro de mayo del 2003).
-
Convenio sobre Protocolo de Contingencia para Sistemas de Pago de Alto Valor
-
Modernización del sistema de pagos (Grupo de trabajo sobre sistemas de pagos, agosto del 2003).
-
"Modernización del Sistema de Pagos en Chile. Luis Oscar Herrera, Gerente División Política Financiera del Banco Central de Chile, en el XI Encuentro Latinoamericano de usuarios de Swift–Elus 2006. 4 de julio, 2006."
-
Comunicado sobre sistemas de pagos (septiembre del 2000).
|
ene-23 |
feb-23 |
mar-23 |
abr-23 |
may-23 |
jun-23 |
jul-23 |
ago-23 |
sept-23 |
oct-23 |
nov-23 |
dic-23 |
Disponibilidad del servicio |
100,00% |
99,90% |
100,00% |
100,00% |
100,00% |
99,23% |
99,79% |
99,85% |
100% |
100% |
100% |
0 |
Interrupciones (minutos) |
0 |
10 |
0 |
0 |
0 |
79 |
23 |
17 |
0 |
0 |
0 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
ene-22 |
feb-22 |
mar-22 |
abr-22 |
may-22 |
jun-22 |
jul-22 |
ago-22 |
sept-22 |
oct-22 |
nov-22 |
dic-22 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
100,00% |
99,91% |
100,00% |
99,95% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
Interrupciones (minutos) |
0 |
0 |
0 |
0 |
10 |
0 |
5 |
0 |
0 |
0 |
0 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
30 |
0 |
0 |
0 |
127 |
|
ene-21 |
feb-21 |
mar-21 |
abr-21 |
may-21 |
jun-21 |
jul-21 |
ago-21 |
sept-21 |
oct-21 |
nov-21 |
dic-21 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
Interrupciones (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
23 |
0 |
38 |
0 |
0 |
240 |
0 |
0 |
110 |
0 |
|
ene-20 |
feb-20 |
mar-20 |
abr-20 |
may-20 |
jun-20 |
jul-20 |
ago-20 |
sept-20 |
oct-20 |
nov-20 |
dic-20 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
99,91% |
100,00% |
100,00% |
100,00% |
100,00% |
Interrupciones (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
10 |
0 |
0 |
0 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
ene-19 |
feb-19 |
mar-19 |
abr-19 |
may-19 |
jun-19 |
jul-19 |
ago-19 |
sept-19 |
oct-19 |
nov-19 |
dic-19 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
99,59% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
99,59% |
Interrupciones (minutos) |
0 |
0 |
0 |
44 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
41 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
5 |
21 |
39 |
0 |
0 |
|
ene-18 |
feb-18 |
mar-18 |
abr-18 |
may-18 |
jun-18 |
jul-18 |
ago-18 |
sept-18 |
oct-18 |
nov-18 |
dic-18 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
99,73% |
99,80% |
100,00% |
Interrupciones (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
31 |
21 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
4 |
0 |
0 |
0 |
2 |
0 |
0 |
5 |
0 |
0 |
|
ene-17 |
feb-17 |
mar-17 |
abr-17 |
may-17 |
jun-17 |
jul-17 |
ago-17 |
sept-17 |
oct-17 |
nov-17 |
dic-17 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
Interrupciones (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
2 |
5 |
0 |
0 |
11 |
0 |
0 |
0 |
1 |
0 |
0 |
|
ene-16 |
feb-16 |
mar-16 |
abr-16 |
may-16 |
jun-16 |
jul-16 |
ago-16 |
sept-16 |
oct-16 |
nov-16 |
dic-16 |
Disponibilidad del servicio |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
100,00% |
Interrupciones (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Retraso en liquidación de Cámaras* (minutos) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
5 |
(*)= Comprende el retraso acumulado en la liquidación de las Cámaras de: Cheques, Cajeros y CCAV.
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2023 |
Monto total de pagos (**) |
2.397.264.180 |
2.313.673.540 |
2.474.977.065 |
|
7.185.914.785 |
Número de pagos |
110.428 |
112.253 |
109.284 |
|
331.965
|
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2022 |
Monto total de pagos (**) |
2.658.347.136 |
2.675.427.808 |
2.583.835.248 |
2.395.148.705 |
10.312.758.897 |
Número de pagos |
104.520 |
108.607 |
112.297 |
108.236 |
433.660
|
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2021 |
Monto total de pagos (**) |
3.411.138.340 |
3.737.711.059 |
2.603.442.263 |
2.394.576.129 |
12.146.867.791
|
Número de pagos |
102.664 |
104.969 |
100.671 |
105.288 |
413.592
|
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2020 |
Monto total de pagos (**) |
1.225.067.808 |
2.236.653.861 |
3.270.664.343 |
3.360.681.792 |
10.093.067.804 |
Número de pagos |
105.010 |
106.441 |
105.274 |
105.710 |
422.435 |
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2019 |
Monto total de pagos (**) |
908.214.062 |
978.308.428 |
952.414.126 |
1.222.936.166 |
4.061.872.781 |
Número de pagos |
117.813 |
117.726 |
106.352 |
106.485 |
448.376 |
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2018 |
Monto total de pagos (**) |
920.968.875 |
973.241.387 |
803.007.442 |
964.122.391 |
3.661.340.095 |
Número de pagos |
92.035 |
100.260 |
96.873 |
121.892 |
411.060 |
(**)= Montos expresados en millones de $
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2017 |
Monto total de pagos (**) |
737.232.354 |
730.803.677 |
724.559.652 |
802.360.179 |
2.994.955.862 |
Número de pagos |
82.805 |
79.813 |
80.318 |
86.708 |
329.644 |
|
I Trimestre |
II Trimestre |
III Trimestre |
IV Trimestre |
Total 2016 |
Monto total de pagos (**) |
724.392.583 |
785.901.578 |
728.584.911 |
697.476.011 |
2.936.355.082 |
Número de pagos |
92.881 |
91.022 |
84.905 |
82.727 |
351.535 |
(**)= Montos expresados en millones de $
The Principles for Financial Market Infrastructures (PFMI) published in 2012 by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) set the international standards for Financial Market Infrastructures, which according to the international consensus include Payment Systems, Central Counterparties, Securities Clearing and Settlement Houses, Securities Custodians and Depositories, and Transaction Repositories.
Among other aspects, the Principles for Financial Market Infrastructures incorporate standards relating to capital requirements, settlement systems, criteria for credit and liquidity risk management, portability of positions in financial instruments and segregation of guarantees. Moreover, these principles also encourage participation at different levels (indirect participants), in order to avoid market concentration in a few participants that might thus acquire systemic importance. Finally, market transparency is promoted through the obligation to report transactions to entities dubbed transaction repositories.
There are 24 Principles for Financial Market Infrastructures, of which 18 are applicable to Systemically Important Payment Systems. These principles are geared towards effective risk management and the furtherance of efficiency and transparency. In addition, 5 responsibilities are established for the authorities in charge of the regulation, supervision and surveillance of such infrastructures. The implementation of these Principles contributes to the robustness of Financial Market Infrastructures, whose relevance became apparent during the global financial crisis that began in 2008, where markets equipped with such Infrastructures were more able to contain its adverse effects.
The regulations of the Central Bank of Chile that acknowledge and require the designated Payment Systems to comply with the Principles for Financial Market Infrastructures are as follows:
Specifically, this new Chapter adheres to the Principles for Financial Market Infrastructures, making them expressly enforceable for the Real-Time Gross Settlement System managed by the Bank (Chapter III.H.4 of the Compendium of Financial Regulations) and for the Clearing House for Large Value Payments in National Currency (Chapter III.H.5 of the Compendium of Financial Regulations) managed by the Operating Company of the Clearing House for Large Value Payments S.A. (Combanc S.A.).
Status of PFMI Implementation for Financial Market Infrastructures in Chile
Once the Principles for Financial Market Infrastructures were defined, from 2013 onwards, CPMI/ IOSCO began a process of annual monitoring of their implementation, which, for the time being, has remained limited to the availability of an appropriate regulatory and legal framework.
Implementation of the Principles for Financial Market Infrastructures at Level 1 (Update January 2021) – Chart
|
SP |
DCV&CCLV |
ECC |
RT |
Argentina |
4 |
3/4 |
3 |
4 |
Australia |
4 |
4 |
4 |
4 |
Bélgica |
4, EUR |
4, EU |
4, EU |
4, EU |
Brasil |
4 |
4 |
4 |
4 |
Canadá |
4 |
4 |
4 |
4 |
Chile |
4 |
4 |
4 |
4 |
China |
4 |
4 |
4 |
4 |
Unión Europea (EU) / Eurosistema (EUR) |
4 |
4 |
4 |
4 |
Francia |
4, EUR |
4, EU |
4, EU |
4, EU |
Alemania |
4, EUR |
4, EU |
4, EU |
4, EU |
Hong Kong |
4 |
4 |
4 |
4 |
India |
4 |
4 |
4 |
4 |
Indonesia |
4 |
4/4 |
4 |
NA |
Italia |
4, EUR |
4, EU |
4, EU |
4, EU |
Japón |
4 |
4 |
4 |
4 |
Corea |
4 |
4 |
4 |
4 |
México |
4 |
4 |
4 |
4 |
Paises Bajos |
4, EUR |
4, EU |
4, EU |
4, EU |
Rusia |
4 |
4 |
4 |
4 |
Arabia Saudita |
4 |
4 |
4 |
4 |
Singapur |
4 |
4 |
4 |
4 |
Sudáfrica |
4 |
4 |
4 |
4 |
España |
4, EUR |
4, EU |
4, EU |
4, EU |
Suecia |
4 |
4, EU |
4, EU |
4, EU |
Suiza |
4 |
4 |
4 |
4 |
Turquía |
4 |
4 |
4 |
4 |
Reino Unido |
4 |
4, EU |
4, EU |
4, EU |
Estados Unidos |
4 |
4 |
4 |
1/4 |
EUR: Rating is the same as in Eurosystem
EU: Rating is the same as in European Union.
Source: Current status of Level 1 assessments (as of January 2021), BIS.
https://www.bis.org/cpmi/level1_status_report.htm
Low value payment systems, also known as retail payment systems, are used to make payments and transfer funds between individuals and/or companies, and characteristically process a large number of transactions of lower relative individual value, usually linked to the purchase and sale of goods and services.
In Chile, payments of this kind are made through a variety of instruments such as cash, checks, credit and debit cards, and electronic transfers. Checks and ATM transactions settle each participant’s net balances in the Real-Time Gross Settlement system every day, which are determined in specialized clearing houses.
The regulations of the Central Bank of Chile applicable to Issuers and Operators of Payment Cards are as follows:
- Chapter III.H.1 Clearing House for Checks and Other Documents in Chilean Currency
- Chapter III.H.3 Clearing House for Operations Carried Out through Chilean ATMs
- Chapter III.J.1, Payment Card Issuers, Compendium of Financial Regulations
- Chapter III.J.1.1, Credit Card Issuers, Compendium of Financial Regulations
- Chapter III.J.1.2, Debit Card Issuers, Compendium of Financial Regulations
- Chapter III.J.1.3, Issuers of Cards with Provision of Funds, Compendium of Financial Regulations
- Chapter III.J.2, Payment Card Operators, Compendium of Financial Regulations