Resolution SBS No. 12863-2009: Modifications to the Accounting Manual for Financial System Companies

Lima, September 10, 2009
Resolution S.B.S.
No. 12863 - 2009

The Superintendent of Banks, Insurance, and Private Pension Fund Administrators:

CONSIDERING:

That, by Resolution SBS No. 895-98 of September 1, 1998, and its modifying and complementary regulations, the Accounting Manual for Financial System Companies, hereinafter Accounting Manual, was approved;

That, by Annex I of Resolution SBS No. 10639-2008 of October 31, 2008, which approved the Regulation for the Classification and Valuation of Investments of Financial System Companies, various modifications were made to the Accounting Manual, including the modification of Annex No. 1 "Investments" of Chapter V "Complementary Information";

That, by Annex A of Resolution SBS No. 4729-2009 of May 29, 2009, various modifications were made to the Accounting Manual, including the approval of the new Report No. 2-D "Requirements for Effective Equity for Credit, Market, and Operational Risks and Calculation of the Global Limit referred to in the first paragraph of Article 199 and the Twenty-Fourth Transitory Provision of the General Law";

That, by the Third Article of Resolution SBS No. 6328-2009 of June 18, 2009, Report No. 2 (Annex B) of the Accounting Manual was eliminated;

That, it is necessary to make clarifications for the preparation of Annex No. 1 "Investments" and for the publication of Financial Statements referred to in Section F of Chapter I of the Accounting Manual;

Being in accordance with the opinion of the Adjunct Superintendencies of Banking and Microfinance, Risks, and Legal Advice; and,

In exercise of the powers conferred by numbers 7 and 13 of Article 349 of the General Law of the Financial System and the Insurance System and the Organic Law of the Superintendence of Banking and Insurance, Law No. 26702, and its modifying regulations, hereinafter General Law;

RESOLVES:

First Article.- Modify in Chapter V "Complementary Information" of the Accounting Manual, Annex No. 1 "Investments" and its corresponding methodological notes, according to the format indicated in the Annex attached to this Resolution.

Second Article.- Modify the first and fourth paragraphs of Section F of Chapter I of the Accounting Manual, according to the following text:

"Companies must publish, jointly, their Balance Sheet, Income Statement, and Report No. 2-D "Requirements for Effective Equity for Credit, Market, and Operational Risks and Calculation of the Global Limit referred to in the first paragraph of Article 199 and the Twenty-Fourth Transitory Provision of the General Law" corresponding to quarterly periods in the Official Gazette and in a newspaper of wide national circulation. The aforementioned publications must be made maintaining adequate proportions and on the same date and page of the respective newspaper. For the purposes of publishing Report No. 2-D, companies may omit the sections for which they do not report information.

(...)

Considering that the Financial Statements as of December 31 of each year (fourth quarter) are approved by the General Shareholders' Meeting, the publication of the same, as well as that of Report No. 2-D, will be carried out within seven (7) business days after said General Shareholders' Meeting has taken place."

Third Article.- The format and methodological notes of Annex No. 1 "Investments" are published on the Institutional Portal (www.sbs.gob.pe), as provided in Supreme Decree No. 001-2009-JUS.

Fourth Article.- This Resolution enters into force from the day following its publication in the Official Gazette El Peruano, except for the modifications to Annex No. 1, which enter into force from the financial information corresponding to September 2009.

Register, communicate, and publish.

FELIPE TAM FOX
Superintendent of Banks, Insurance, and Private Pension Fund Administrators