SANTIAGO (Dow Jones)--In light of Chilean department-store retailer Empresas La Polar SA's (LAPOLAR.SN) financial woes, the government will set up a Financial Stability Council, El Mercurio newspaper reported Wednesday, citing the Finance Undersecretary.
The council, to be composed of the Finance Minister, the president of the central bank and sector regulators, will act as a coordinating task force in the event of a financial crisis, Finance Undersecretary Rodrigo Alvarez told the newspaper.
The council, to be composed of the Finance Minister, the president of the central bank and sector regulators, will act as a coordinating task force in the event of a financial crisis, Finance Undersecretary Rodrigo Alvarez told the newspaper.
