Mario Marcel: The Chilean peso as an eligible CLS currency

Opening remarks (via WebEx) by Mr Mario Marcel, Governor of the Central Bank of Chile, at the Second Workshop CLS-CBC, Santiago de Chile, 21 July 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
18 August 2020

I. Welcoming remarks

Good morning everybody and welcome to the second joint workshop between CLS and the Central Bank of Chile (CBC) dedicated to the "Nostro" service, a fundamental business in the CLS payment system operation. This event is part of the process of incorporating a new currency into the CLS System. This belongs to the due diligence and analysis phase that CLS and the CBC are respectively finalizing. Then we should move to the implementation phase.

This workshop complements the provision of information on CLS and the bilateral meetings that bankers have been holding with CLS and the CBC for some time, to assist banks in assessing the benefits, prospects and opportunities in participating in the system, either as a Settlement Member or Nostro.