Resolution SBS No. 2082-2022: Establishes Prudential and Accounting Clarifications for COOPAC Regarding Repayment of Credits Guaranteed by the FAE-TURISMO Fund

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000 Fax: (511) 6309239 1 Lima, July 1, 2022 Resolution S.B.S.
No. 2082-2022
The Superintendent of Banks, Insurance, and Private Pension Fund Administrators

CONSIDERING:

That, through Resolution SBS No. 480-2019 and its amendments, the General Regulation for Savings and Credit Cooperatives Not Authorized to Capture Public Resources was approved, in which the provisioning rates for credit risk applicable to different types of credit are established, based on the credit classification of debtors for Savings and Credit Cooperatives Not Authorized to Capture Public Resources (COOPAC); the methodology that COOPACs must apply to calculate the requirement for effective equity for credit risk; and provisions with the aim of ensuring that COOPACs adequately manage concentration risk in the operations they carry out;

That, through Resolution SBS No. 577-2019 and its amendments, the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Capture Public Resources was approved;

That, through Supreme Decree No. 016-2022-PCM, the National State of Emergency was declared due to circumstances affecting the life and health of people as a consequence of COVID-19, which has been extended by Supreme Decree No. 030-2022-PCM;

That, through Urgency Decree No. 076-2020 and its amendments, the creation of the Business Support Fund for Micro and Small Enterprises of the Tourism Sector (FAE-TURISMO) was ordered, with the aim of promoting the financing of micro and small enterprises (MYPE) of the Tourism Sector, through credits for working capital, and through Ministerial Resolution No. 228-2020-EF/15 and its amendments, its Operating Regulation was approved;

That, in light of the situation the country is going through as a consequence of COVID-19, through Resolution SBS No. 2364-2020, it was ordered that the portion of credits covered by FAE-TURISMO is subject to the same treatment established for the portion of credits covered by the Business Support Fund for Micro and Small Enterprises (FAE-MYPE) through Resolution SBS No. 1765-2020;

That, subsequently, through Urgency Decree No. 004-2022, measures were established in the economic and financial matters, which guarantee that the micro, small, and medium enterprise (MIPYME) of the tourism sector continues to access credits guaranteed by FAE-TURISMO, intended to finance working capital, acquisition of fixed assets and/or financial consolidation or purchase of debt of working capital debts that may have been acquired after the declaration of the State of Emergency; as well as the restructuring of credits granted by said fund;

That, it is necessary to establish clarifications on prudential and accounting aspects that must be considered by COOPACs for the restructuring of credits guaranteed by the Business Support Fund for Micro, Small, and Medium Enterprises of the Tourism Sector (FAE-TURISMO) within the framework of Urgency Decree No. 004-2022;

Having the previous technical and positive report on the feasibility of the norm from the Adjunct Superintendence of Cooperatives and with the approval of the Adjunct Superintendences of Cooperatives and Legal Advice; and,

In exercise of the attribution conferred in numerals 7, 9, and 13 of article 349, as well as in numeral 4 A of the Twenty-Fourth Final and Complementary Provision, of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendence of Banking and Insurance, Law No. 26702 and its amendments, and based on the exceptional conditions established in article 14 of Supreme Decree No. 001-2009-JUS and its amendments;

RESOLVES:

Article First.- In the case of COOPACs, establish that the portion of restructured credits covered by the Business Support Fund for Micro, Small, and Medium Enterprises of the Tourism Sector (FAE-TURISMO) is subject to the same treatment established for the portion of credits covered by the Business Support Fund for Micro and Small Enterprises of the Tourism Sector, through Resolution SBS No. 2364-2020 and Multiple Office No. 28681-2020-SBS. The exceptional limit of fifty percent (50%) of the effective equity of COOPACs applies to the total coverage granted by FAE-TURISMO, whether it corresponds to restructured credits within the framework of DU No. 004-2022 or not, in favor of the same COOPAC.

Article Second.- Modify the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Capture Public Resources of Level 2 and 3, approved by Resolution SBS No. 577-2019 and its amendments, according to the Annex attached to this Resolution, which is published on the Institutional Portal (www.sbs.gob.pe), in accordance with what is established in Supreme Decree No. 001-2009-JUS and its amendments, with validity starting from the information corresponding to the month of June 2022.

Article Third.- This Resolution enters into force the day after its publication in the official newspaper El Peruano, except for what is established in article two.

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MARIA DEL SOCORRO HEYSEN ZEGARRA
Superintendent of Banks, Insurance, and AFP