BancoEstado Executive among group of experts to analyse changes to the General Banking Act
The Minister of Finance has appointed Carlos Martbit as a member of the team of eight financial specialists who are to submit proposals for the New General Banking Act.
Carlos Martabit, Banco Estado’s General Manager for Finance, was invited by theMinistry of Finance to join the team of eight experts that will analyse the changes to be made to the General Banking Act. The members of the group are: Vittorio Corbo, Christian Larraín, José Manuel Mena, Kevin Cowan, and the attorneys Diego Peralta and Víctor Vial.
The commission will analyse the different aspects of the Act, which should be strengthened or modified in order to fit into a modern and efficient regulatory framework. This analysis should place special focus of the capital requirements proposed by Basel III, the corporate governance of the regulator and the general outline of the bank resolution process.
In this respect, Carlos Martabit pointed out “the last reform to the act goes back to 1997, which makes this an important initiative to update and incorporate into it the international regulations in force today”.
The committee will have as its President the economist and former Superintendent of Banks and Financial Institutions, Raphael Bergoeing.
The following will attend as permanent guests; the Central Bank of Chile, represented by Claudio Raddatz, its Division Director for Financial Policy, and Juan Palo Araya, and its attorney; the Superintendence of Banks and Financial institutions, represented by the following officers: Eric Parrado, Superintendent, Jorge Cayazzo, Head of Supervision, Luis Figueroa, Head of Regulation and Andrés Prieto, Legal Director.
The new General Banking Act has been developed by the Government for the financial market this year.