Documentation related to the Special Pledge Service
Valid
YES
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants
In addition to what was indicated communicated in Circular Letter No. 310, dated November 8th, 2017, Depósito Central de Valores (DCV) is publishing the documentation related to the new “Special Pledge Service on Securities held oin Deposit Service”.
The trial pilot version of the service will be available for operations carried out by the Central Bank of Chile (BCCH) with Depositors who are banking companies, which are associated with the use of the latter of one or more credit facilitiesliquidity lines of credit in local currency being guaranteedsecured with a pledge.
As instructed by Law No. 18,876, to access this service Depositors must sign the Master Agreement and additionally, a Special Mandate that has been defined by the BCCH, the content of which can be downloaded in the link shown below. Also, below please find the Service Operations Manual.
For more information please contact the MAC Customer Service Desk This email address is being protected from spambots. You need JavaScript enabled to view it. or call +56 22 393 9001
Sincerely yours,
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants
Depósito Central de Valores (DCV) would like to inform you of the launch of the new “Special Pledge Service for Securities on Deposit”, hereinafter “Special Pledge”, contained in Article 14, letter b) et seq., of Law 18,876.
In this first phase, the Service will be available for operations executed by the Central Bank of Chile (BCCH) with Depositors from banking companies, concerning their use of one or more liquidity credit lines in local currency, with collateral, according to the rules published by the BCCH in the Official Gazette on November 8th, 2017, and specifically, in Chapter 2.3 of its Compendium of Monetary and Financial Rules, which effective date shall be timely communicated by said Issuing Institution.
According to Law 18,876, in order to access this service, Depositors must execute the Master Agreement and the relevant adhesions thereof, which text and format is recorded under No. 944, dated October 16th, 2017, in the Notary Office of Santiago of Mr. Juan Ricardo San Martin Urrejola, under repertory No. 55980/2017 (a link to access a copy thereof is attached hereto).
We note for the record that the Special Pledge Service will make it possible to operate under the following characteristics:
i. he Depositors corresponding to banking companies and having access to operations related to the use of liquidity credit lines in local currency with collateral from the BCCH, may secure –once said rule becomes effective and the relevant credit facility agreements are executed with said Entity- these operations with the Special Pledge Service provided by DCV.
ii. The definition of the securities eligible to be pledged for these operations will be determined by the BCCH, according to its own regulation.
iii. Pledge Creation Process
a. Once BCCH has accepted the liquidity funds of a banking company for these operations, according to its regulation, the Issuing Institution shall register a request in DCV for the creation of the relevant collateral, and the banking company shall be responsible for the relevant securities to be available in its DCV account, who shall perform a book entry that, according to the internal regulation, reflects the creation of said special pledge in the relevant commercial bank, in favor of the BCCH, and hence, the securities will be pledged.
According to this and to the regulation of the Issuing Institution, the relevant Depositor shall expressly authorize the BCCH to send to DCV the relevant communications and instructions for these purposes, on behalf of and for the Depositor banking company. The format of the mandate required for these purposes shall be disclosed in the near future.
b. Once DCV confirms to BCCH the creation of the pledge, the latter –according to the aforementioned regulation- shall pay, in the checking account that the relevant banking company maintains in the Issuing Institute, the relevant funds related to the requested liquidity credit line operation in local currency with collateral.
iv. Lifting of Pledges
a. On the expiration date of the relevant liquidity credit line with collateral, or of the operation executed according to it, the BCCH shall withdraw from the aforementioned checking account of the banking company the relevant principal and interest amounts, and it will request that DCV lift the relevant securities created for said operation.
b. The successful execution of these lifting requests shall imply that the securities pledged in favor of the BCCH are freely available to the relevant commercial bank. Hence, the Pledge shall be lifted.
v. In light of the foregoing and according to the regulation of the BCCH, this institution itself, as Depositor of DCV, shall send the messages in its capacity as Pledgee, and on behalf of the relevant banking company in its capacity as Pledgor, who has requested to BCCH access to said operations with collateral, being authorized, along with DCV, to register said operation in the manner stated above.
vi. As previously mentioned, both the execution of the Master Agreement and the authorization of the relevant banking companies shall be required to register said operations in BCCH and DCV. A link to access the format of the Master Agreement is attached hereto. It can be sent – in whole – to This email address is being protected from spambots. You need JavaScript enabled to view it.. , in order for it to be signed by DCV and, subsequently, be sent to each depositor for their relevant signature. A similar procedure shall be required once the aforementioned mandate/authorization format is published.
In due course, DCV will inform of the second phase of this Special Pledge Service, covering other operations of its Depositors.
All of this information will also be available at DCV’s webpage www.dcv.cl
For further information, please contact the Customer Service Desk MAC This email address is being protected from spambots. You need JavaScript enabled to view it. or at the telephone +56 22 393 9001
Sincerely,
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
New Service For Automatic Deposit And Withdrawal of OSAS
Currente
YES
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
DEAR PARTICIPANTS:
Depósito Central de Valores S.A. (DCV), wishes to inform you of the new service for Automatic Deposit and Withdrawal of OSAs (Options to Subscribe Shares/Fund Investment Quotas).
The service has been developed to provide the depositors subscribing to it with security, efficiency and availability in automatic deposit and withdrawal of securities in actions related to options to subscribe shares (OSA Corporate Actions).
Service fees are detailed in DCV’s Internal Regulation in Title 22: Remuneration for the Services, Chapter 22.9.
For further information on the fees and service, please check DCV’s website www.dcv.cl.
For more information, we appreciate contacting the Commercial Area This email address is being protected from spambots. You need JavaScript enabled to view it.
Greetings,
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Amendments to the regulation of Depósito Central de Valores S.A. Depósito de Valores
Currente
YES
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants,
Pursuant to to the provisions of the current Internal Regulation of Depósito Central de Valores S.A. (DCV), by means of this Circular Letter, we wish to communicate to you the text of the new version of the Internal Regulation, which we have called August 2017 Version, effective as from August 31st, 2017.
This new version includes several changes, all of which have been approved by DCV’s Board of Directors, and submitted to the Superintendence of Securities and Insurance (SVS) at every opportunity.
The approval of this new version, under the provisions of Law 18,876, includes several issues detailed in the minutes attached herein, which can be downloaded in this Circular Letter, as well as the new version of the Internal Regulation.
For further information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it. at the phone number (+56) 223 939 001.
Greetings,
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants
The Deposito Central De Valores (DCV) wishes to inform you that the current Pledged Instruments Report, available to depositors for subscription at any time, will be subject to the following change in fees, depending on the delivery system requested by the subscriber:
Mail Delivery
8 UF month
Delivery through RBI
12 UF month
The aforementioned report, as reported in Circular Letter No. 284 of November 13, 2015 has the following features:
Features
Daily report detailing currently valid pledges registered with DCV, either by electronic or notarial instruction, in which the subscriber Depositor takes part as a creditor.
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