Glossary · REDEC / NCG 540 (Chile)
REDEC and NCG N°540 — Chile's Consolidated Debt Registry (CMF)
The Registro de Deuda Consolidada (REDEC) is Chile's consolidated debt registry, created by Law N°21.680 (in force 1 April 2026) and administered by the Comisión para el Mercado Financiero (CMF). Rule NCG N°540 (July 2025) sets the operating rules and the Information System Manual (MSI). Reporting creditors — banks, insurers, savings & credit cooperatives, endorsable mortgage administrators and non-bank card issuers — must submit a weekly RDC01 file, file RDC02 rectifications, and may only query the consolidated RDC10 record after obtaining the debtor's prior, unequivocal consent. The hard part is operational: the core banking system must generate a valid, fixed-byte MSI file on time, every week, with a digital-consent workflow wired into the query path.
Full content in Spanish. This English entry is a concise summary. The complete reference (including comparative tables, official sources and Vermont Solutions context) is available in the Spanish version: Read the full entry in Spanish →
Frequently asked
What is REDEC and who administers it?
REDEC (Registro de Deuda Consolidada) is Chile's consolidated debt registry, created by Law N°21.680 and administered by the CMF (Comisión para el Mercado Financiero). It centralises individuals' credit obligations — amounts, credit types, terms and payment status — so creditors can assess credit risk on consolidated data. It entered into force on 1 April 2026.
What does NCG N°540 require operationally?
NCG N°540 (issued July 2025) defines the operating rules and the Information System Manual (MSI REDEC). Reporting creditors submit a weekly RDC01 nómina, file RDC02 rectifications when data changes, and query the consolidated RDC10 record only after capturing the debtor's prior and unequivocal consent. Files use a fixed-byte format with pre-validation against CMF schemas, exchanged through the CMF portal/API. FOGAPE/FOGAES debts are excluded.
What is the real technical challenge for a bank?
Compliance is a core-banking problem, not a legal one. The core must reliably produce a valid fixed-byte RDC01 file every week from authoritative debt data, expose a consent-gated path for RDC10 queries, and handle rectifications (RDC02) with full traceability. Legacy cores with batch windows, inconsistent debt sources or no consent layer are where projects stall.
How does Vermont Solutions help?
Vermont applies its core-modernisation expertise to REDEC readiness: a file-generation engine that emits the MSI fixed-byte format with automatic pre-validation, a digital-consent module integrated into the core's query path, CMF API/key integration, and an API-first, decoupled-microservices architecture so reporting does not depend on fragile batch jobs. Delivery combines a Chilean entity (Vermont Solutions Chile SpA) with cross-border engineering from Spain.
Is this related to AI governance or ISO 42001?
Indirectly. REDEC is a data-reporting and consent obligation, not an AI rule. But the same consolidated data increasingly feeds credit-scoring models, which fall under the CMF's algorithmic-governance expectations and ISO/IEC 42001. Institutions often address REDEC reporting and model governance in the same data-quality and traceability programme.
English summary maintained by Vermont Solutions. Citable with attribution. Regulation evolves — verify the latest version at the official source linked in the Spanish entry. Does not constitute legal advice.