May 16, 2024 - The Financial Market Commission (CMF) issued today adjustments to Chapter 18-3 of the Updated Compilation of Rules for Banks (RAN, for its Spanish acronym) referred to the Compendium of Accounting Standards (CAS) and the Information Systems Manual for Banks (ISMB).

The new version introduces a distinction on how parameters are adjusted, and technical aspects contained in both the CAS and the ISMB. As said adjustments are not regulatory changes, they are to be made through the issuance of an Official Notice which will be published alongside the timeframe foreseen for their implementation. Additionally, the adjustments will be incorporated into the updated texts of the corresponding regulations.

As in the previous version, changes deriving from regulatory amendments to the provisions of both the CAS and the ISMB will be introduced through a Circular Letter, complying with expected procedures for such cases.

Circular Letter No. 2,348 introduces the new Chapter 18-3 to the RAN and precises adjustment types for Regulatory Files and Forms to be reported through an Official Notice. As well as the ISMB, these are part of Circular Letter No. 108 for Cooperatives; Circular Letter No. 23 for Support Companies of Banking Activities; Circular Letter No. 1 for Payment Card Issuers; Circular Letter No. 1 for Payment Card Operators; and Circular Letter No. 1 for Credit Entities Supervised by Law No. 18,010.

In this sense, the new dispositions are also extended to other regulations which amend or replace them.

For periodic accounting information, which is regulated by Chapter C-3 of the CAS for Banks; Chapter H-3 of the CAS for Cooperatives; and Annex 3 of Circular Letter No. 1 for Payment Card Issuers, updates to lines or items of financial information models required by the CMF (as well as their descriptions or other similar specifications not corresponding to regulatory innovations or interpretations) will also be adjusted through an Official Notice.

Visit the Rules and Norms section of the CMF website to check the regulation in detail.