The CBF benchmarks (TAB Nominal, TAB UF and TADO) and indices (ICP and ICP (Real)) were administered by the Chilean Banking Association, ABIF, prior to the CBF assuming the administration responsibilities on 18 November 2019.
ABIF had developed and implemented separate Rules documents for the benchmarks and indices that established the responsibilities of the reporting banks, the administrator and the oversight committee in the stages of delivery of information, calculation and publication of the benchmarks and indices.
During the transition period, prior to the CBF assuming the administration responsibilities of the benchmarks and indices, the oversight function was performed by the ABIF Transitional Oversight Committee which comprised of an independent member and representatives from ABIF and the CBF. The ABIF Transitional Oversight Committee approved amendments to the Rules documents, as tabled below, to make then suitable for purpose in recognising the CBF as administrator. These amended Rules documents came into effect on 18 November 2019.