Chile: Relaxation of advertisement rules for foreign banks
Description
On 7 October 2010, the bank regulator of Chile relaxed regulations on the advertisement efforts of subsidiaries of foreign banks.
Subsidiaries of foreign banks located in Chile may now advertise their credit facilities. Each advertisement must state the costs of the advertised credit program, as well as the intermediary role of the subsidiary between the interested consumer and the foreign parent company.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: No
Date of inception: 7 Oct 2010
GTA Evaluation: Green
Source:
Superintendencia de Bancos e Instituciones Financieras. (2010). Circular 3509. Available at http://www.sbif.cl/sbifweb/internet/archivos/norma_9617_1.pdf
Government Response:
- 142 reads
