{
  "title": "Chile: Financial Sector Assessment Program—Technical Note on Systemic Liquidity",
  "publication": "IMF Staff Country Reports, September 12, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255",
  "overlayPath": "/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/index.md",
  "summary": "Chile is characterized by a highly interconnected financial system, which presents risks and opportunities for the development of liquidity markets.",
  "sections": [
    {
      "heading": "Overview and central finding",
      "content": "- Chile has a highly interconnected financial system that creates both risks and opportunities for the development of liquidity markets.\n- The large domestic non-bank financial sector (pension funds, mutual funds, insurers) provides a large investor base for domestic debt securities, fostering the development of these markets.\n- The non-bank financial sector is vulnerable to shocks, which may have significant spillovers to funding markets and to the banking system."
    },
    {
      "heading": "Key subjects and thematic focus",
      "content": "- Asset and liability management\n- Bonds\n- Collateral\n- Financial crises\n- Financial institutions\n- Financial markets\n- International organization\n- Lender of last resort\n- Liquidity\n- Monetary policy\n- Money markets"
    },
    {
      "heading": "Keywords highlighted in the note",
      "content": "- Bonds\n- Collateral\n- ELA framework\n- ELA procedure\n- ELA regulation\n- funding plan template\n- Global\n- Lender of last resort\n- Liquidity\n- Money markets\n- risk equivalence\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/bundle-manifest.json)",
    "Published: September 12, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400219566.002",
    "Chile has a highly interconnected financial system that creates both risks and opportunities for the development of liquidity markets.",
    "The large domestic non-bank financial sector (pension funds, mutual funds, insurers) provides a large investor base for domestic debt securities, fostering the development of these markets.",
    "The non-bank financial sector is vulnerable to shocks, which may have significant spillovers to funding markets and to the banking system.",
    "ELA framework",
    "ELA procedure",
    "ELA regulation",
    "funding plan template",
    "Global",
    "risk equivalence",
    "**Executive Summary**"
  ],
  "related": [
    {
      "title": "Executive Summary",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2022/english/1chlea2022004.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2022/english/1chlea2022004.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2022/english/1chlea2022004.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/index.md",
    "json": "/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/index.json",
    "bundleManifest": "/en/publications/cr/issues/2022/09/09/chile-financial-sector-assessment-program-technical-note-on-systemic-liquidity-523255/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-12T11:49:56.019Z"
}