Resolution SBS No. 1809-2004: Specifies the Investments Authorized for the Caja Municipal de Crédito Popular de Lima

Superintendence of Banking and Insurance Los Laureles No. 214 - Lima 27 - Peru Tel.: (511)2218990 Fax: (511) 4417760 Lima, November 3, 2004 S.B.S. Resolution No. 1809 -2004 The Superintendent of Banking and Insurance

CONSIDERING:

That, in accordance with the provisions of Article 13 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 referred to as the General Law, Savings and Credit Municipal Banks and Popular Credit Municipal Banks are governed by the provisions of their special laws and the General Law, with the exceptions expressly indicated in the Fifth Final and Complementary Provision of said Law. The special law corresponding to the Caja Municipal de Crédito Popular de Lima is Law No. 10769 and its amendments;

That, according to what is established in subsection b) of Article 13 and subsection g) of Article 46 of Law No. 10769 and its amendments, the Caja Municipal de Crédito Popular de Lima is authorized to make investments;

That, it is necessary to specify the investments that the Caja Municipal de Crédito Popular de Lima is authorized to acquire in application of subsection b) of Article 13 and subsection g) of Article 46 of Law No. 10769 and its amendments, taking into account its nature;

Being in accordance with the opinion of the Adjunct Superintendencies of Banking and Legal Advice, as well as having the approval of the Adjunct Superintendence of Risks and the Economic Studies Management;

And, in exercise of the attribution conferred by numeral 9 of Article 349 of the General Law;

RESOLVES:

First Article.- To specify that the investments that the Caja Municipal de Crédito Popular de Lima (CMCPL) is authorized to acquire in application of what is established in its Special Law are the following:

a) Deposit certificates issued by a company of the country's financial system; as well as mortgage instruments, warrants, and bills of exchange arising from commercial transactions, issued by entities established in the country.

b) Instruments representing private debt and instruments representing capital for the negotiable portfolio, issued by companies established in the country, that are subject to some centralized negotiation mechanism in accordance with the law on the matter.

c) Certificates of participation in mutual funds and investment funds administered by societies established in the country, supervised and regulated by the competent body.

d) Titles representing Peruvian public debt, internal and external, as well as obligations of the Central Reserve Bank of Peru.

Second Article.- To make investments additional to those mentioned in the previous article, the Caja Municipal de Crédito Popular de Lima must request the respective authorization in accordance with what is established in the current regulations.

Third Article.- The Caja Municipal de Crédito Popular de Lima must have an established investment policy in accordance with its degree of exposure and keep it available to the Superintendence when requested.

Fourth Article.- This Resolution will enter into force from the day following its publication in the Official Newspaper "El Peruano".

Register, communicate, and publish.

JUAN JOSÉ MARTHANS LEÓN Superintendent of Banking and Insurance