EFTA Document EFTA01379430

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Regulatory framework and approach • The BCCh regulates the FX market (www.bcentral.cl). • The regulator of banking activities is the Superintendency of Banks and Financial Institutions (www.sbif.cl). • Local banks can only trade interest and FX options that are previously approved by Superintendency of Banks and Financial Institutions. Any uncovered leveraged position entails some capital cost to the bank. • The regula