Kast Sends MK4 Capital Markets Reform to Congress With Maximum Urgency

President Kast and Finance Minister Jorge Quiroz presented the government's fourth capital-markets reform (MK4) from Cerro Castillo on September 9 and sent it to the Chamber of Deputies with 'suma urgencia.' The bill packages roughly 30 measures across four axes — easing access to housing, widening capital access for firms of different sizes, modernizing market rules, and positioning Chile as a regional financial hub — including a 3-percentage-point state contribution toward first-home down payments, a new Fonavi fund to extend mortgage terms, a BancoEstado fund financing about 150,000 mortgages over 30-year terms, and a new stock exchange for startups and junior mining companies. Business, banking and housing associations gave the reform a broadly favorable reception, with debate over its fiscal cost and implementation rules still ahead.