Resolution SBS No. 1758-2025: Amending Chapter V "Complementary Information" of the Accounting Manual and the Regulation on Economic Groups, Related Parties, Operational Limits under Articles 201 to 204 of the General Law and Large Exposures

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 Lima, May 13, 2025

S.B.S. Resolution
No. 01758-2025

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, item 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 amendments, hereinafter the General Law, states that the Superintendence has the authority to issue general norms to specify the preparation, presentation, and publication of financial statements, and any other complementary information, ensuring that the real economic-financial situation of the companies under its supervision is reflected;

That, by means of SBS Resolution No. 895-98 of September 1, 1998, the Accounting Manual for Companies of the Financial System, hereinafter the Accounting Manual, was approved, whose Chapter V refers to Complementary Information;

That, Report No. 13 “Control of Global and Individual Limits Applicable to Companies of the Financial System”, Report No. 19 “Information on the Economic Group of the Company”, Report No. 19-A “Information on Members of the Economic Group of the Company”, Report No. 20 “Information on Clients Representing Single Counterparty Risk”, Report No. 20-A “Information on Persons and Legal Entities Representing Single Counterparty Risk Clients”, Report No. 21 “Financing to Related Parties of the Company”, and Report No. 21-A “Information on Persons and Legal Entities Related to the Company”, form part of Chapter V “Complementary Information” of the Accounting Manual;

That, by means of Legislative Decree No. 1646, the General Law was modified regarding operational limits, with the aim of promoting the granting of financing by companies of the financial system and contributing to better management of concentration risk in safeguarding the solvency and stability of the financial system;

That, by means of SBS Resolution No. 975-2025, the “Regulation on Economic Groups, Related Parties, application of Operational Limits referred to in Articles 201 to 204 of the General Law and Large Exposures”, hereinafter the Regulation, was approved;

That, in this sense, it is necessary to modify Chapter V of the Accounting Manual to adapt it to what is contemplated in the General Law modified by Legislative Decree No. 1646 and in the Regulation;

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239

That, likewise, it is necessary to make adjustments to the Regulation to maintain concordance with the modifications made to Chapter V of the Accounting Manual;

Having the approval of the Adjunct Superintendencies of Banking and Microfinance, and of Regulation and Legal Affairs, as well as the Economic Studies and Risks Directorates; and,

In exercise of the powers conferred by items 7, 9, 13, and 19 of Article 349 of the General Law and based on what is stated in its Thirty-Second Final and Complementary Provision;

RESOLVES:

Article First. – Modify Chapter V “Complementary Information” of the Accounting Manual, as follows:

1. Approve a new Report No. 13 “Control of Global and Individual Limits Applicable to Companies of the Financial System” which comprises two sections, one on global limits and another on individual limits. Each section comprises information on aspect, legal basis, regulatory limits, and calculation. This Report, of monthly frequency, must be submitted by SUCAVE within fifteen (15) calendar days following the close of each month, and it repeals the previous Report No. 13 “Control of Global and Individual Limits Applicable to Companies of the Financial System”.

2. Approve a new Report No. 19 “Information on the Economic Group to which the Company belongs”. Report No. 19 comprises two sections: 19-I “General Information” and 19-II “Legal Person or Legal Entity over which control is exercised”. Section 19-I comprises information on name or trade name, type of member, SBS code, CIIU, identity document, country of residence or incorporation, nationality, domicile, and name of the legal representative. This Report, of semi-annual frequency, must be submitted by SUCAVE within a period not exceeding January 15 and July 15 of each year, and it repeals the previous Report No. 19 “Information on the Economic Group of the Company” only for the companies indicated in letters A, B, and C of Article 16 and Article 17 of the General Law. The previous Report No. 19 “Information on the Economic Group of the Company” remains in force for the companies of letter D of Article 16 of the General Law.

3. Approve a new Report No. 19-A “Information on Members of the Economic Group to which the Company belongs”. The section on legal person or legal entity member of the economic group comprises information on name or trade name, SBS code, identity document. The section on information of the legal person or legal entity member of the economic group comprises information on name or trade name, type of member, SBS code, identity document, country of residence or incorporation, shareholding or equivalent, position, and other position. This Report, of semi-annual frequency, must be submitted by SUCAVE within a period not exceeding January 15 and July 15 of each year, and it repeals the previous Report No. 19-A “Information on Members of the Economic Group of the Company” only for the companies indicated in letters A, B, and C of Article 16 and Article 17 of the General Law. The previous Report No. 19-A “Information on Members of the Economic Group of the Company” remains in force for the companies of letter D of Article 16 of the General Law.

4. Approve a new Report No. 20 “Information on Clients (including those representing a group of counterparties connected by single counterparty risk) corresponding to Large Exposures” which comprises information on code assigned by the company, name of group of counterparties connected by single counterparty risk, counterparty or member of the group of counterparties connected by single counterparty risk, exposure, exclusions, application of credit counterparty substitution, mitigants, and guarantees. This Report, of semi-annual frequency, must be submitted in Excel file via the central or virtual registry office, and in other means established by the Superintendence, within fifteen (15) calendar days following the close of each semester, and it repeals the previous Report No. 20 “Information on Clients Representing Single Counterparty Risk”.

5. Approve a new Report No. 20-A “Information on Persons, Legal Entities, Departments, Agencies, Entities or Others that make up a Group of Counterparties Connected by Single Counterparty Risk with Clients” which comprises information on code assigned by the company, name of group of counterparties connected by single counterparty risk, data of the members of the group of counterparties connected by single counterparty risk, including the criteria for connection by single counterparty risk. This Report, of semi-annual frequency, must be submitted in Excel file via the central or virtual registry office, and in other means established by the Superintendence, within fifteen (15) calendar days following the close of each semester, and it repeals the previous Report No. 20-A “Information on Persons and Legal Entities Representing Single Counterparty Risk Clients”.

6. Approve a new Report No. 21 “Information on Persons and Legal Entities Related to the Company and Financing to Related Parties of the Company” which comprises information on the related party and the criteria for relatedness. This Report, of quarterly frequency, must be submitted in Excel file via the central or virtual registry office, and in other means established by the Superintendence, within fifteen (15) calendar days following the close of each quarter, and it repeals the previous Report No. 21 “Financing to Related Parties of the Company”.

7. Eliminate Report No. 21-A “Information on Legal Persons and Legal Entities Related to the Company”.

8. The formats of the new Reports No. 13, 19, 19-A, 20, 20-A, and 21 are attached to this Resolution and are published on the institutional portal (www.sbs.gob.pe), in accordance with what is established in Supreme Decree No. 009-2024-JUS.

Article Second. – Modify the Regulation on Economic Groups, Related Parties, application of Operational Limits referred to in Articles 201 to 204 of the General Law and Large Exposures, approved by SBS Resolution No. 975-2025, in the following terms:

1. Substitute letter c) of paragraph 23.2 of Article 23 as follows:

“c) Contingents are considered at the value of the equivalent credit exposure taking into account the credit conversion factors (CCF) contemplated in Article 25 of the Regulation for the Requirement of Effective Capital for Credit Risk.”

2. Substitute paragraph 26.3 of Article 26 as follows:

“26.3 Sovereign financings with a foreign government with a risk classification in the category Risk IV or higher risk cannot exceed fifteen percent (15%) of the Level 1 effective capital of the company.”

3. Substitute paragraph 31.1 of Article 31 as follows:

“31.1 The companies indicated in letters A, B, and C of Article 16 and Article 17 of the General Law must submit to this Superintendence, within a period not exceeding January 15 and July 15 of each year, Reports No. 19 “Information on the Economic Group to which the Company belongs” (which includes Reports No. 19-I and No. 19-II) and No. 19-A “Information on members of the economic group to which the company belongs”, according to the established formats. This Superintendence may exempt or limit the submission of the aforementioned information regarding companies whose economic group includes persons or legal entities operating abroad and where consolidated supervision corresponds to a supervisor other than this Superintendence. Likewise, when submitting Report No. 19, the company must send a written communication describing how the economic group is organized.”

4. Substitute Article 34 as follows:

“Article 34.- Report on financing to related parties of the company

The companies included in Article 7 and in letters A, B, and C of Article 16 of the General Law must submit to this Superintendence, within fifteen (15) calendar days following the close of each quarter, Report No. 21 “Information on Persons and Legal Entities Related to the Company and Financing to Related Parties of the Company”, according to the established format. The Superintendence may exempt or limit the submission of the aforementioned information regarding companies whose economic group includes persons or legal entities operating abroad and where consolidated supervision corresponds to a supervisor other than this Superintendence.”

Article Third. - This Resolution enters into force starting from the information corresponding to the month of June 2025.

Register, communicate, and publish

SERGIO JAVIER ESPINOSA CHIROQUE
SUPERINTENDENT OF BANKING, INSURANCE AND AFP