You can access CBF benchmark data either from authorized information vendors listed on the Authorised Vendors page, or access delayed CBF benchmark data through CBF website. Vendors, distributors, exchanges, clearing houses and ancillary service providers wishing to distribute the CBF data or use the data for financial contracts or clearing should contact the CBF for more information.
The following benchmarks are part of the data package;
TAB Nominal
TAB UF
TADO
ICP Nominal
ICP Real
Definitions of the benchmarks are found below:
TAB Nominal – Tasa Activa Bancaria Nominal
30, 90, 180 and 360 day tenors
“The Tasa Activa Bancaria (or TAB Nominal) is a benchmark rate that represents the average cost of funding, including reserve requirements, from banks within the Chilean institutional deposits market in Chilean Pesos (CLP).”
TAB UF – Tasa Activa Bancaria en Unidad de Fomento
90, 180 and 360 day tenors
“The Tasa Activa Bancaria en UF (or TAB UF) is a benchmark rate that represents the average cost of funding, including reserve requirements, from banks within the Chilean institutional deposits market in Unidad de Fomento (CLF).”
TADO – Tasa Activa Bancaria en dólares
30, 60, 90, 180 and 360 day tenors
“The Tasa Activa Bancaria en Dólares (or TADO) is a benchmark rate that represents the average cost of funding, including reserve requirements, from banks within the Chilean institutional deposits market in United States Dollars (USD).”
ICP – Índice de Cámara Promedio
One tenor (overnight)
“The ICP is an index of the average cost of funds, denominated in Chilean Pesos, for unsecured overnight (one day) borrowing in the Chilean interbank market.”
ICP Real – Índice de Cámara Promedio Real (UF)
One tenor (overnight)
“The ICP (Real) index is a complimentary index of the average cost of funds, denominated in Unidad de Fomento (UF), for unsecured overnight (one day) borrowing in the Chilean interbank market”.
The benchmarks are published each good business day in Chile.
The time of publication is as follows;
TAB Nominal, TAB UF and TADO – 11:30am local time Santiago
ICP and ICP Real – Approximately 6:30pm local time Santiago. Publication time is subject to the availability of input data from the Central Bank of Chile so it can be earlier than 6:30pm or later. The latest time for publication is 8:00pm local time Santiago.
The benchmarks are undergoing significant changes to bring them up to world standards, which will involve significant costs in terms of systems, people and processes. The CBF benchmarks meets the IOSCO Principles for Financial benchmarks since 2022. These principles were designed to strengthen the governance of benchmarks post the Libor scandal.
The data is subject to a fee since the 1st January 2020.
Access will require the corresponding subscription according to the needs of the company and/or individual. No subscription is free of charge, except for the 15-day delayed subscription through the CBF website that is limited to access CBF benchmarks 26 times per year.
There are five types of subscriptions:
Yes, all companies and individual users who require the data will need to subscribe.
If you wish to receive the benchmark data immediately after publication, you will need a Real-Time subscription with CBF.
If you or your company needs data with a 24-hour delay for commercial use, you will need to a 24-hour delayed subscription with CBF.
If you need the data, for your own internal use or academic use (and not redistribution) you will need subscription to a 15-day delayed subscription with CBF. This license is free of charge, but access will be limited to a maximum of 26 logins per year.
Vendors, distributors, exchanges, clearing houses and ancillary service providers wishing to distribute the CBF data or use the data for financial contracts or clearing should contact the CBF for more information.
For Real time access, 24-hour delay access or 15-days delay access – go to the subscription tab above and follow the steps for an online subscription.
Vendors, distributors, exchanges, clearing houses and ancillary service providers should contact subscriptions@cbf.cl to provide more details of your redistribution or use cases.
The fees for the subscription services are explained in full on the subscription charges page.
All fees are in US dollars, and subscriptions are annual with automatic renewal.
No subscription is free of charge, except for the 15-day delayed subscription through the CBF website that is limited to access CBF benchmarks 26 times per year.
If you obtain Real time access, 24-hour delay access or 15-days delay access, you are allowed to use the data for your own internal business use. For organizations, like banks, that interact with customers, they are allowed to use the data to provide trade advice from the data, but not to provide it to any third party as a substitute service on a systematic basis.
Strictly prohibited is any type of distribution of reference rates and indices among individuals or companies. The use of the data to create derived works for systematic distribution purposes is also prohibited without the appropriate derived data license.
The online subscription form clearly details the terms and conditions of use.
If you do wish to redistribute data in a systematic manner in real or delayed time, then you must get a distribution agreement with CBF. If this is the case send an email to subscriptions@cbf.cl and the team will work with you to arrange a contract for this purpose.
Exchanges, clearing houses and ancillary service providers should contact subscriptions@cbf.cl to provide more details of use cases.
The CBF data package includes all benchmarks and these cannot be separated.
To access the CBF data published on the website with a 15-day or 24-hour delay, you need to subscribe and select the desired option via the How to Subscribe page.
If you are a data provider and wish to distribute real-time (live) or delayed data from CBF, please send an email to the CBF subscriptions team at subscriptions@cbf.cl and they will help you with the necessary agreements.
Please visit the “How to Subscribe” page to view the steps required to obtain a subscription agreement.
A subscription can be obtained online from the CBF website. Once you accept the terms and conditions you will be provided with a subscription from CBF, this is a system generated file and is not countersigned.
You also can complete a Word version of the subscription form that can be downloaded from the CBF website (Subscription Forms – CBF). You can then review and complete them, and once finished, the signed form must be sent to the email subscripcions@cbf.cl.
Should you require a countersigned version please contact us at subscriptions@cbf.cl and we will arrange for one to be created for you.
Older browsers are still being used in many financial market institutions and some of these browsers do not support SNI and will generate this error. Please try a later version of a browser. If you are unable to utilise a supported browser in your working environment please contact subscriptions@cbf.cl and we will endeavour to find a solution for you.
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