Chile
New Compendium of International Exchange Regulations (CNCI)
The compendium provides the regulatory framework for international foreign exchange operations carried out in the foreign exchange market, as well as investments and indebtedness external. This information must be reported to the Central Bank of Chile in accordance with the provisions of the aforementioned Compendium and its respective Operating Regulations, through the SICAM System. This regulation will be implemented gradually between 2024 and 2025 and will enter into force in January 2026.
Mutual mortgages granted by banks or cooperatives
The regulation modifies Circular No. 1,713, allowing agents managing mutual mortgages to report the transfer of endorsable mutual mortgages granted by banks and cooperatives. The modifications referred to in numbers 2 to 11 of this Circular will come into effect on December 1, 2024 and, therefore, will be applicable to the report corresponding to December 2024.
Colombia
SFC publishes 2024 External Ciricular 010
On August 29, 2024, the SFC published the 2024 External Circular 010, which establishes the changes to be made to the Circular Básica Jurídica (Legal Basic Circular Letter) to foster the participation of new investors in the capital market, modify the requirements for the application of the simplified client knowledge process for securities market products of low amounts, and update instructions applicable to electronic order routing systems. These changes will go into effect in September, 2024.
BanRep publishes External Resolution No. 3 of August 30, 2024
On August 30, 2024, Banrep published External Resolution 3 of 2024 under which the percentages cited in paragraphs (a) and (b) of Article 1 of External Resolution No. 5 of 2008 are lowered from 8% to 7% and from 3.5% to 2.5%, respectively. The new reserve requirement percentages will apply as of bi-weekly reserve requirement compliance (available period) starting on September 11, 2024.
Argentina
BCRA publishes communications A8097 and 8098
BCRA has published communications A8097 and A8098 regarding the creation of a new concept (FC) which was added to Annex III of the report.
Brazil
The BCB publishes Regulatory Instruction No. 510 of August 30, 2024
The regulator made changes to Annex I, II, III, and IV of the MCR report. Annex IX was created and Annex VIII was deleted.
