Systemically Important Banks Annual Qualification

Detected April 1st, 2026

Summary

Chile's Financial Market Commission (CMF) published its annual requalification of systemically important banks based on December 2025 data. Six Chilean banks retained their designation as domestic systemically important banks (D-SIBs), with capital surcharges of 1.0% to 2.5% of risk-weighted assets required under Basel III standards.

View original document View source feed page

What changed

The CMF released its annual list identifying six banks as domestically systemically important based on December 2025 data. This is a routine requalification under the D-SIB framework, maintaining the same capital surcharge requirements ranging from 1.0% to 2.5% of risk-weighted assets depending on each bank's systemic importance score.

Affected banks must continue complying with enhanced capital adequacy requirements under the Basel III framework. This is an ongoing annual process with no new obligations imposed beyond pre-existing D-SIB capital buffer requirements. No specific compliance deadline or action items are detailed in this announcement.

Source document (simplified)

Financial Market Commission

Menú Comunicados Presentaciones Galerías de imágenes Actualidad Agenda 2026 CMF en la Prensa Seminarios Política comunicacional Contacto prensa Material para periodistas Encuentros con Periodistas Videos Síguenos en nuestras redes sociales About Us International Affairs Law and Regulation Press Releases Other CMF sites Versión en español Basel III standards

CMF reports on annual qualification of systemically important banks, sets requirements

With information reported by banks as of December 2025, the Commission decreed (with prior favorable agreement by the Central Bank of Chile) that Banco de Chile; Banco de Crédito e Inversiones; Banco del Estado de Chile; Banco Itaú Chile; Banco Santander-Chile; and Scotiabank Chile retain their status of systemic relevance.
Said status entails the same additional core equity requirements defined during the previous review period, except for Banco del Estado de Chile - whose core requirement increases from 1.25 to 1.5 percent. March 30, 2026 - The Board of the Financial Market Commission (CMF) approved, through Resolution No. 3,399, the annual qualification of systemically important banks and additional requirements for them. This is pursuant to the General Banking Act (LGB) and the provisions set forth in Chapter 21-11 of the Updated Compilation of Banking Regulations to identify systemically important banks.

Said regulation defines a methodology consisting of four factors that reflect the impact of a bank's financial deterioration or eventual insolvency would have on the financial system. These factors are:

Size of the bank.
Interconnection of the bank with other financial entities.
Degree of substitution in its provision of financial services.
Complexity of its business model and operating structure. According to this methodology, and with prior favorable agreement by the Central Bank of Chile, the Commission decreed that the same entities (in alphabetical order) deemed systemic last year retain their status this year: Banco de Chile; Banco de Crédito e Inversiones; Banco del Estado de Chile; Banco Itaú Chile; Banco Santander-Chile; and Scotiabank Chile.

Pursuant to current regulations , the CMF agreed to maintain its additional core equity requirements as part of risk-weighted assets of 1 percent for Banco Itaú Chile; 1.25 percent for Banco de Chile and Scotiabank Chile; and 1.5 percent for Banco Santander-Chile and Banco de Crédito e Inversiones. Meanwhile, the requirement for Banco del Estado de Chile increased from 1.25 to 1.5 percent.

This is the fifth year of defining additional core equity requirements derived from identifying systemically important banks. Pursuant to their gradual implementation, additional core equity requirements must be constituted in December 2026.