Financial Market Commission

CMF publishes for consultation adjustment to subfactor descriptions for calculating systemic importance index

Table 106 of the Information Systems Manual for Banks, containing the subfactor definitions to determine banks' systemic importance index, is adjusted. This is pursuant to the content of Chapter 21-11 of the Updated Compilation of Rules for Banks.

August 26, 2021 - The Financial Market Commission has published for consultation an adjustment to the subfactor descriptions used to calculate the systemic importance index of banks, in accordance with Chapter 21-11 of the Updated Compilation of Rules for Banks. Such subfactors are reported through File R11 of the Commission's Information Systems Manual for Banks.

The aim of this adjustment is to move towards a better quality of information to determine systemically important banks. Specifically, it is intended to:

Clarify the instruments that should be excluded from subfactor 11, "Assets at fair value".
Modify the definition of subfactor 12, "Third-party assets under management of the bank", considering assets on behalf of third parties managed through group-type principal accounts, in accordance with the complexity factor defined in Chapter 21-11.

Interested parties can access the Draft Rules and Norms section of the CMF website until September 6, 2021 to check the details of the regulatory proposal and submit their feedback. In addition, the CMF makes available a Regulatory Report assessing the impact of this proposal.