October 22, 2019.- The Financial Market Commission (CMF) is closely monitoring the effects that incidents in the country may have on the normal functioning of the financial system under its supervision.
Today, the Commission has been 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 attention 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, there was a significant normalization in the operation of the branches, going from 300 branches opened on Monday 21 to 647 today. This represents an increase from 14.6 percent to 31.5 percent of branches opened nationwide.
As for ATMs nationwide, which includes the Redbanc, Banco del Estado de Chile and Falabella networks, 85 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, normalized their operation in the last few hours.
At the same time, insurance companies reported an increase in the locations of customer service. The Commission also 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.
Furthermore, the Commission informs that today it officiated a list of issuers of securities so that they may detail, no later than tomorrow, the effects that recent events may have on their results and financial situation and their operations. These reports must include the existence of committed insurance and any other information deemed relevant by their administration.
As for the functioning of the stock and product exchanges and market infrastructure entities, the CMF informed that everything worked normally yesterday. Stock exchanges, for their part, 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. It will do everything in its powers to ensure the proper operation of the financial system and the capital market.
