meta_id 3493761

On September 11, 2026, the Central Bank of Chile (Banco Central de Chile) issued Circular Letter N° 770, establishing operational instructions for the Payment Portal System (Sistema Portal de Pagos) to function as an operational contingency mechanism for the Real-Time Gross Settlement System (LBTR, Sistema de Liquidación Bruta en Tiempo Real). The circular provides guidance on the use of the Payment Portal System as a backup mechanism for transmitting Fund Transfer Instructions (ITF, Instrucciones de Transferencia de Fondos) when the primary LBTR system experiences operational disruptions. This contingency framework applies to banks, cooperatives, financial market infrastructure operators, and third parties participating in the LBTR system. The measure builds on previous guidance issued by the Central Bank through Circular Letters N° 726 (issued June 27, 2024) and N° 738 (issued November 25, 2024), which established foundational requirements for system participants. The operational instructions outlined in Circular Letter N° 770 establish procedures to ensure continuity of critical payment and settlement functions during system outages or technical failures. By designating the Payment Portal System as an approved contingency mechanism, the Central Bank aims to maintain the stability and resilience of Chile's financial infrastructure and prevent disruptions to fund transfers during periods when the primary LBTR system is unavailable. The circular applies to all entities operating within or connected to the LBTR ecosystem, including financial institutions, cooperative entities, market infrastructure administrators, and authorized third-party service providers. Compliance with the operational procedures outlined in the circular is mandatory for all designated participants. REFERENCE: Carta Circular N° 770, Banco Central de Chile, September 11, 2026. Available at: https://www.bcentral.cl/