Editing Economy of Chile (section)

====Finance====
Chile's financial sector has grown quickly in recent years, with a banking reform law approved in 1997 that broadened the scope of permissible foreign activity for Chilean banks. The Chilean Government implemented a further liberalization of capital markets in 2001, and there is further pending legislation proposing further liberalization. Over the last ten years, people who live in Chile have enjoyed the introduction of new financial tools such as home equity loans, currency futures and options, factoring, leasing, and debit cards. The introduction of these new products has also been accompanied by an increased use of traditional instruments such as loans and credit cards. Chile's private pension system, with assets worth roughly $70&nbsp;billion at the end of 2006, has been an important source of investment capital for the capital market. However, by 2009, it was reported that $21&nbsp;billion had been lost from the pension system to the [[2008 financial crisis]].<ref>{{cite web|url=http://www.globalpost.com/dispatch/chile/090121/uncertain-future |title=An uncertain future |publisher=GlobalPost |access-date=17 December 2009 |url-status=dead |archive-url=https://web.archive.org/web/20100811120405/https://www.globalpost.com/dispatch/chile/090121/uncertain-future |archive-date=11 August 2010 }}</ref>