Resolution SBS No. 02164-2026: Amending Circular AFOCAT No. 8-2013 on Basic Cash Requirement

Los Laureles Nº 214 - Lima 27 - Perú Telf.: (511) 6309000 Lima, August 28, 2026 Resolution S.B.S.
No. 02164-2026
The Superintendent of Banks, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, paragraph 30.1 of Article 30 of the General Law on Land Transport and Transit, Law No. 27181 and its modifying regulations, states that Regional or Provincial Associations of Funds against Traffic Accidents (AFOCAT) are regulated, supervised, audited, and controlled by the Superintendency of Banks, Insurance and Private Pension Fund Administrators, in accordance with the powers established in Article 345 and following articles of the General Law of the Financial System and of Insurance and the Organic Law of the Superintendency of Banks and Insurance, Law No. 26702 and its modifying regulations, hereinafter the General Law;

That, through Supreme Decree No. 040-2006-MTC, the Regulation for the Supervision of Regional or Provincial Associations of Funds against Traffic Accidents – AFOCAT – and the Functioning of the Central Registry of Risks Derived from Traffic Accidents (hereinafter, the AFOCAT Regulation) was approved;

That, item 2.7 of Article 2 of the AFOCAT Regulation states that the Regional or Provincial Fund against Traffic Accidents (hereinafter, the Fund) is an autonomous patrimony constituted by the risk contributions of the members of the AFOCAT, including the yield generated by this, with the purpose of covering the consequences of death or injuries derived from traffic accidents in which the vehicles of its members that hold the Traffic Accident Certificate (CAT) have intervened;

That, in item 3 of Circular AFOCAT No. 8-2013-SBS, among other things, the characteristics that the deposit account known as "Paying Account" must have are established, in which the resources of the Fund destined for the payment of indemnities to victims of traffic accidents are deposited;

That, the Superintendency considers it necessary to modify Circular AFOCAT No. 8-2013-SBS, in order to establish a clear and differentiated distribution of the contributions collected by the issuance of the CAT; likewise, it is necessary to clarify the destination and use of the funds held in the paying account, so that they are not used for purposes other than the payment of indemnities;

That, for the purpose of collecting opinions from the general public regarding the draft regulation, through Resolution SBS No. 903-2026, the prepublication of the draft resolution was ordered on the digital headquarters of the Superintendency, under the provisions of the Thirty-Second Final and Complementary Provision of the General Law and Supreme Decree No. 009-2024-JUS;

With the approval of the Adjunct Superintendencies of Insurance, and of Regulation and Legal Affairs;

In exercise of the powers conferred by items 3, 7 and 9 of Article 349 of the General Law;

RESOLVES:

Article First.- Circular AFOCAT No. 8-2013-SBS is modified, as follows:

1. The reference contained in the header of the Circular is replaced, which will be drafted as follows:

“CIRCULAR NO. AFOCAT - 8 - 2013
Ref.: Paying Account and Basic Cash Requirement”

2. Item 1.1 “Distribution of contributions” is incorporated, according to the following text:

“1.1 Distribution of contributions
The contributions collected by AFOCATs in the issuance of the Traffic Accident Certificate (CAT) are distributed as follows:
a) Eighty percent (80%) of the CAT contribution amount, corresponding to the risk contribution, is deposited in the Paying Account. b) The remaining twenty percent (20%) of the CAT contribution amount, corresponding to the contribution for administrative expenses, is destined for the operational and institutional expenses of the AFOCAT.

AFOCATs may receive “other contributions”, of an extraordinary nature, distinct from the CAT contribution amount, for the purposes approved by the General Assembly, their deposit in the Paying Account or in the other accounts of the Association corresponding, in accordance with what is provided in items 3 and 3.1.”

3. Item 3. “Paying Account” is replaced by the following text:

“3. Paying Account
AFOCATs manage the resources of the Fund through a paying account that allows for the traceability of operations, understood as the ability to identify, record and verify movements through supporting documentation. The Paying Account must be accredited before the corresponding Trustee. This account is used exclusively for the payment of traffic accident coverages and the contribution to the SOAT and CAT Compensation Fund. The resources of the paying account must be deposited in an account opened in a company of the national financial system authorized to collect deposits from the public,

General characteristics:
i) The Paying Account must have the denomination of “Paying Account” and be maintained in national currency. ii) The Paying Account must be freely available to the AFOCAT and must not be subject to any type of guarantee, present or future. iii) The Paying Account is destined solely and exclusively for carrying out operations with the Fund. iv) Operations with the Fund can only be carried out through the Paying Account.

Deposits in the Paying Account:
i) The amount of the CB, which is the amount necessary for the AFOCAT to comply with short-term obligations arising from the CATs. The AFOCAT must take into account what is stated in letter d) of item 2) when recalculating the CB. ii) Risk contributions, which correspond to 80% of the income from the issuance of the CAT, in accordance with item 1.1 of this Circular. iii) Extraordinary contributions belonging to the AFOCAT that, in a General Assembly of associates, agree to transfer to the Fund for the reasons and conditions exposed in said Assembly destined for the payment of claims and for the contribution to the SOAT and CAT Compensation Fund. iv) Recoveries of previously paid claims, until they are transferred to the Trust. v) Amounts for the collection of reimbursements, which correspond to the money received in response to requests made to the trustee, based on the claims that have been paid by the AFOCAT with the money from the CB.

Disbursements from the Paying Account:
i) Transfer of risk contributions to the Fund, maintaining only the amount of the CB in the Paying Account. ii) Payment of the benefits or coverages of the CAT indicated in Article 33 of the AFOCAT Regulation. iii) Payment of contributions to the SOAT and CAT Compensation Fund.”

4. Item 3.1 “Other accounts of the Association” is incorporated, according to the following text:

“3.1 Other accounts of the Association:
The AFOCAT must maintain at least one account in the financial system distinct from the Paying Account in which the remaining 20% of the CAT contribution amount and the amount recorded in the item of “other contributions” from the issuance of the CAT are deposited, destined to cover expenses, administrative obligations and other concepts linked to the development of the AFOCAT's activities.”

Article Second.- This resolution enters into force ninety (90) calendar days after its publication in the Official Gazette El Peruano.

Register, communicate and publish.

SERGIO JAVIER ESPINOSA CHIROQUE
SUPERINTENDENT OF BANKS, INSURANCE AND AFP