Resolution SBS No. 2368-2023: Amending Regulations on Debtor Evaluation and Classification, Credit Risk Capital Requirements, Credit Risk Management, Internal Audit, and Related Circulars

Los Laureles Nº 214 - Lima 27 - Perú Telf.: (511) 63090000

Lima, July 14, 2023

Resolution SBS
No. 2368-2023

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

CONSIDERING:

That, the General Law of the Financial System and of the Insurance System and the Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its amendments, hereinafter the General Law, establishes in its article 222 that, in the evaluation of operations that make up the credit portfolio, the debtor's cash flows, income and debt service capacity, financial situation, net worth, future projects and other relevant factors to determine the capacity to service and pay the debt must be taken into account; expressly stating that the basic criterion is the debtor's payment capacity and that guarantees are subsidiary;

That, likewise, paragraph 4 of article 132 of the General Law establishes, as one of the means to attenuate the risks of savers, the constitution of generic and specific provisions;

That, by Resolution SBS No. 11356-2008 and its amendments, the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, hereinafter the Regulation, was approved;

That, it is necessary to make modifications to the aforementioned Regulation with the purpose of including guidelines consistent with current market practices and the experience obtained in supervision by the Superintendency, to safeguard the solvency of the companies in the financial system and the public's savings, in aspects such as types of credit, recognition of transactional information for debtor evaluation, among others;

That, by Resolution SBS No. 14354-2009 and its amending norms, the Regulation for the Requirement of Effective Equity for Credit Risk was approved, which establishes the methodology that must be applied, as well as the requirements that companies in the financial system must meet to carry out the calculation of the requirement for effective equity for credit risk using the standard method or the methods based on internal ratings;

That, it is necessary to make modifications to the Regulation for the Requirement of Effective Equity for Credit Risk with the purpose of adapting the definitions of exposures to the modifications made to the Regulation through this Resolution;

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That, by Resolution SBS No. 3780-2011 and its amendments, the Credit Risk Management Regulation was approved, which governs credit risk management practice from the establishment of minimum requirements for its adequate management;

That, it is necessary to make modifications to the Credit Risk Management Regulation with the purpose of adapting it to the modifications made to the Regulation through this Resolution;

That, through the Internal Audit Regulation, approved by Resolution SBS No. 11699-2008 and its amendments, the requirements and standards of internal audit for companies in the financial and insurance systems are established;

That, it is considered necessary to modify the Internal Audit Regulation, so that the Internal Audit Unit of the companies in the financial system carries out the evaluation of compliance with the requirements for the use of transactional information for the estimation of income of small and micro-enterprise customers;

That, through Circular No. B-2184-2010, F-524-2010, CM-371-2010, CR-240-2010, EF-2-2010, EAH-6-2010, EAF-241-2010, EDPYME-133-2010, FOGAPI-36-2010, provisions were established regarding the minimum information that supervised companies must request from their clients for the granting, monitoring, control, evaluation and classification of granted credits, as well as for the measurement of risks;

That, the Accounting Normative Council requested the Superintendency to establish provisions that contribute to the application by debtors of the companies in the financial system of accounting standards and norms;

That, in that sense, it is considered convenient to modify Circular No. B-2184-2010, F-524-2010, CM-371-2010, CR-240-2010, EF-2-2010, EAH-6-2010, EAF-241-2010, EDPYME-133-2010, FOGAPI-36-2010, to adapt it to the modifications to be made to the Regulation, as well as to establish that the Financial Statements that non-retail debtors must present must be prepared in accordance with current accounting standards;

That, for the purpose of collecting public opinions on what is proposed, the pre-publication of the draft modification of the norm was ordered on the electronic portal of the Superintendency, under the provisions of the Thirty-Second Final and Complementary Provision of the General Law, as well as of Supreme Decree No. 001-2009-JUS and its amendments;

Having the approval of the Adjunct Superintendencies of Banking and Microfinance, Risks, Economic Studies and Legal Advice; and,

In exercise of the powers conferred by paragraphs 7 and 9 of article 349 of the General Law;

RESOLVES:

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Article First.- Modify the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, according to the following:

Replace literal l) and incorporate literals s), t), u) and v) in paragraph 2 “Definitions” of Chapter I “Concepts and principles for the evaluation and classification of the debtor and the requirement of provisions”, according to the following:

“2. DEFINITIONS
(...) l) Non-retail debtor: Legal person or legal entity that has direct or indirect corporate, large enterprise or medium enterprise credits.
(...) s) Legal entities: according to the definition indicated in literal g of article 2 of the Special Norms on Linkage and Economic Group, approved by Resolution SBS No. 5780-2015 or the norm that replaces them. t) Transactional information: Information associated with payment services for the acquisition and use of products and services, among others. u) Tax authority: corresponds to the national tax authority or similar abroad. v) Economic group: according to the definition indicated in article 8 of the Special Norms on Linkage and Economic Group, approved by Resolution SBS No. 5780-2015 or the norm that replaces it.”

Replace the heading, as well as paragraphs 4.1 to 4.7 of paragraph 4 “Types of Credit” of Chapter I “Concepts and principles for the evaluation and classification of the debtor and the requirement of provisions”, according to the following:

“4. TYPES OF CREDITS
The credit portfolio is classified into eight (8) types. Credits granted to legal entities and/or for project financing cannot be considered as small or micro-enterprise credits.

4.1 CORPORATE CREDITS
Corporate credits are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or legal entities that have registered sales or annual income from ordinary activities in the two (2) last periods, declared to the Tax Authority, greater than S/ 200 million or its equivalent in foreign currency. In the event that such information is not available, the information provided for the two (2) last economic years according to audited financial statements must be considered. Regarding credits granted to legal persons or legal entities that, having recently started operations, only have the aforementioned information corresponding to the last period declared to the Tax Authority or to the last economic year according to audited financial statements, they must also be classified as corporate credits provided they have registered annual sales or income from ordinary activities greater than S/ 200 million or its equivalent in foreign currency in said information.

Likewise, credits granted to legal persons or legal entities when they belong to an economic group in which at least one legal person or legal entity of the same economic group meets the characteristic indicated in the previous paragraph are also considered as corporate credits.

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Corporate credits also include sovereign credits, credits granted to multilateral development banks, to public sector entities, to securities intermediaries, to companies in the financial system, to companies in the insurance system, to autonomous insurance credit funds, to guarantee funds constituted in accordance with the Law and to other guarantee funds.

4.2 CREDITS TO LARGE ENTERPRISES
Credits to large enterprises are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or legal entities that do not meet the conditions to be classified as corporate and that have registered sales or annual income from ordinary activities in the two (2) last periods, declared to the Tax Authority, greater than S/ 20 million or its equivalent in foreign currency. In the event that such information is not available, the information provided for the two (2) last economic years according to audited financial statements must be considered. Regarding credits granted to legal persons or legal entities that, having recently started operations, only have the aforementioned information corresponding to the last period declared to the Tax Authority or to the last economic year according to audited financial statements, they must also be classified as credits to large enterprises if they have registered annual sales or income from ordinary activities greater than S/ 20 million or its equivalent in foreign currency, and do not meet the conditions to be classified as corporate.

4.3 CREDITS TO MEDIUM ENTERPRISES
These are credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or legal entities that do not meet the conditions to be classified as corporate or large enterprises and that have registered sales or annual income from ordinary activities in the last period declared to the Tax Authority greater than S/ 5 million or its equivalent in foreign currency. In the event that such information is not available, the information provided for the last economic year according to audited financial statements must be considered.

Credits granted to legal entities that have registered a level of annual sales or income from ordinary activities not greater than S/ 5 million or its equivalent in foreign currency in the last period declared to the Tax Authority or in the last economic year according to financial statements must also be classified as credits to medium enterprises.

4.4 CREDITS TO SMALL ENTERPRISES
These are credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or natural persons who have registered a level of annual sales or income from ordinary activities in the last period not greater than S/ 5 million or its equivalent in foreign currency, and provided that their total indebtedness level in the financial system is greater than S/ 20 thousand or its equivalent in foreign currency in at least one of the last 6 Consolidated Credit Reports (CCR), or provided that the new credit disbursed is greater than said amount.

In the case of a natural person, the aforementioned total indebtedness level in the financial system does not include housing mortgage credits.

If the natural person debtor has additional credits that are not intended to finance the activities indicated in the first paragraph of this paragraph, said credits are registered, as appropriate, as revolving consumption, non-revolving consumption or housing mortgage.

4.5 CREDITS TO MICRO-ENTERPRISES
These are credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or natural persons who have registered a level of annual sales or income from ordinary activities in the last period not greater than S/ 5 million or its equivalent in foreign currency, and provided that their total indebtedness level in the financial system is not greater than S/ 20 thousand or its equivalent in foreign currency in the last 6 Consolidated Credit Reports (CCR), and that the new credit disbursed is not greater than S/ 20 thousand.

In the case of a natural person, the aforementioned total indebtedness level in the financial system does not include housing mortgage credits.

4.6 REVOLVING CONSUMPTION CREDITS
These are revolving credits granted to natural persons, for the purpose of paying for goods, services or expenses not related to production, marketing, service provision or other business activities.

Revolving consumption credits include the modalities of current account advances, credit cards associated with revolving credit lines, current account overdrafts, revolving loans, including those granted under payroll discount agreements for revolving loans, among others.

4.7 NON-REVOLVING CONSUMPTION CREDITS
These are non-revolving credits granted to natural persons, for the purpose of paying for goods, services or expenses not related to production, marketing, service provision or other business activities.

Non-revolving consumption credits include the modalities of car loans, free availability loans, loans under non-revolving payroll discount agreements (eligible and non-eligible), financial leasing, lease-back, credit cards associated with non-revolving credit lines, non-revolving financings independent of the credit card line, among others.”

Replace the last paragraph of paragraph 4 “Types of Credit” of Chapter I “Concepts and principles for the evaluation and classification of the debtor and the requirement of provisions”, according to the following:

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“If the debtor has registered credits intended to finance production, marketing, service provision or other business activities only in some month(s) of the last six (6) months, the information from those months in which the debtor's total indebtedness in the financial system registered in the CCR is different from zero will be taken into account.

In the case of a natural person, the aforementioned total indebtedness level in the financial system does not include housing mortgage credits.”

Replace the third, fourth and fifth paragraphs of paragraph 5.1 of paragraph 5 “General Principles of the evaluation and credit classification of the debtor” of Chapter I “Concepts and principles for the evaluation and classification of the debtor and the requirement of provisions”, with the following:

“(...)

To evaluate the granting of credits to retail debtors, the payment capacity is analyzed based on the applicant's income, their net worth, the amount of their various obligations (direct or contingent), the amount of the debt and the installments assumed with the company (including contingent debt); as well as the credit classifications assigned by other companies in the financial system. The income used to measure the payment capacity of retail debtors must be duly supported.

For the granting of credits to small and micro-enterprises, companies may dispense with some of the documentary requirements and carry out credit evaluations, generating indicators of the payment capacity of the family-business unit, from supported information prepared jointly with the potential borrower, to the satisfaction of this regulatory body.

Additionally, information on the debtor's social and economic environment can be considered.

Likewise, for the granting of working capital loans or other short-term products, with prior Board of Directors approval and compliance with what is indicated in the Tenth Final and Transitional Provision of this Regulation, companies may use transactional information from verifiable sources, for the determination of annual sales, income and expenses of the family-business unit. The credit offer generated with this type of information may be directed to borrowers and/or potential borrowers, provided that the company has the transactional information of these, transactional information not being considered as information provided in the Consolidated Credit Report (CCR). In case methodologies and/or models based on transactional information are used, said methodologies and/or models must comply with what is established in the Model Risk Management Regulation approved by Resolution SBS No. 0053-2023 or the norm that replaces it, if applicable.

The annual sales or annual income of the family-business unit determined using techniques of contact with the potential borrower and/or based on transactional information, whether or not through the use of methodologies and/or models, cannot be higher than the annual sales limit established in the definition of small enterprise credits in this Regulation. Prudentially, the Superintendency may establish a sales threshold lower than this or may establish other limits, when it has concerns regarding the level of solvency, individual credit concentration and/or quality of credit management of the portfolios of supervised companies.

For the granting of consumption credits and housing mortgage credits with resources from the MIVIVIENDA Fund, companies may use techniques of contact with the borrower and/or potential borrower, or use inferred income. Sworn statements signed by the debtor may only be used provided that the declared income is lower than that obtained through methodologies and/or models.

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Inferred income must be the result of methodologies and/or models with adequate quality indicators, and their monitoring must comply with the provisions indicated in the Model Risk Management Regulation, approved by Resolution SBS No. 0053-2023 or the norm that replaces it, if applicable. It is the company's obligation to demonstrate that the methodologies and/or models used for income inference meet this condition.

The debtor evaluation criteria indicated in article 222 of the General Law are applied in the context of their belonging to an economic group, financial or mixed conglomerate or based on other single risk scenarios indicated in article 203 of the General Law.

The aforementioned criteria are applied without prejudice to the provisions on customer and market knowledge established in the Regulation for the Management of Money Laundering and Terrorism Financing Risk approved by Resolution SBS No. 2660-2015 and its amendments or the norm that replaces it.”

Replace literal e) of the General Criteria of paragraph 5.2 of paragraph 5 “General Principles of the evaluation and credit classification of the debtor” of Chapter I “Concepts and principles for the evaluation and classification of the debtor and the requirement of provisions”, with the following:

General Criteria
“(...) e) The entity must carry out the alignment procedure monthly, considering the debtor's classification based on the last information available sent by the Superintendency through the “Consolidated Credit Report – CCR”. Likewise, it must use this information for the calculation of the percentage of claims referred to in the previous literal d). The entity must also report the classification without alignment in the field assigned in the “Debtor Credit Report – RCD.”

Replace paragraph 2.2 of paragraph 2 “Classification of the debtor of the corporate, large enterprise and medium enterprise credit portfolio” of Chapter II “Credit classification categories of the debtor of the credit portfolio”, with the following:

“(...)

2.2 POTENTIAL PROBLEM CATEGORY (1)
The debtor presents any of the following characteristics:
a) A good financial and profitability situation, with moderate equity indebtedness and adequate cash flow for the payment of principal and interest debts. The cash flow could, in the next twelve (12) months, weaken to meet payments, given that it is extremely sensitive to modifications of relevant variables such as economic, commercial, regulatory, political environment, among others; or, b) Two (2) or more delays greater than fifteen (15) days in the last six (6) months provided they do not exceed sixty (60) days.”

Incorporate as the Tenth Final and Transitional Provision, the following:

“TENTH.- Companies in the financial system may use, for the determination of annual sales, income and expenses of the family-business unit of potential small and micro-enterprise borrowers, transactional information from verifiable sources, provided that the following criteria are met:

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a. The use of such information must be approved by the Board of Directors, who must establish the risk appetite for this portfolio, in terms of amounts (stock and/or disbursements), maximum terms to be granted, risk indicators, among other prudential criteria. The portfolio admitted based on transactional information must not exceed ten percent (10%) of the balance of the direct portfolio of the previous economic year, destined for credits to small and micro-enterprises. This percentage may be modified via Circular, if necessary. b. For the processing of transactional information, methodologies and/or models that comply with what is established in the Model Risk Management Regulation approved by Resolution SBS No. 0053-2023 or the norm that substitutes it, if applicable, must be employed.
c. The monitoring of said methodologies and/or models must consider, at least, the following guidelines: i) it must be carried out at least annually and presented to the Board of Directors, ii) verifiable annual sales, income, and expenses of a statistically representative sample of debtors must be considered, iii) said sample must consider debtors from the different segments of the methodology and/or model in proportion to the distribution of new placements made using estimated annual sales, income, and expenses, and iv) monitor compliance with the thresholds established by the Board of Directors for the use of these methodologies and/or models. The actions taken in response to the results of the monitoring must be evidenced in the corresponding minutes.
d. The portfolio that uses transactional information must be subject to differentiated and permanent monitoring by the Risk Unit or the responsible unit that the company determines. Likewise, this unit is responsible for preparing a monitoring report, which must contain the minimum aspects indicated in Subchapter V of Chapter II of the Credit Risk Management Regulation (Resolution SBS No. 3780-2011 and its amendments) and the monitoring actions indicated in Article 5 of the Regulation for the Administration of Over-indebtedness Risk of Retail Debtors (Resolution SBS No. 6941-2008 and its amendments). Said report must be approved by the Risk Committee or by whoever performs that function and sent quarterly to the Superintendency. e. The Internal Audit Unit must include within its Annual Plan the review of this portfolio, in order to ensure that the criteria established in this Regulation are met.”

Article Second.- Substitute letters k), n), o), p), r) and s) of Article 2 of the Regulation for the Requirement of Effective Capital for Credit Risk, approved by Resolution SBS No. 14354-2009 and its amendments, with the following:

“Article 2°. General Definitions
(…) k) Exposures with large enterprises: exposures with legal persons or legal entities that meet the criteria established in numeral 4.2 of numeral 4 “Types of Credit” of Chapter I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it. (…) n) Exposures with medium enterprises: exposures with legal persons or legal entities that meet the criteria established in numeral 4.3 of numeral 4 “Types of Credit” of Chapter I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it. o) Exposures with micro-enterprises: exposures with legal persons or natural persons that meet the criteria established in numeral 4.5 of numeral 4 “Types of Credit” of Chapter I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it.

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p) Exposures with small enterprises: exposures with legal persons or natural persons that meet the criteria established in numeral 4.4 of numeral 4 “Types of Credit” of Chapter I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it. (…) r) Corporate exposures: exposures with legal persons or legal entities that meet the criteria established in numeral 4.1 of numeral 4 “Types of Credit” of Chapter I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it. s) Consumer exposures: revolving or non-revolving exposures with natural persons that meet the criteria established in numeral 4.6 or in numeral 4.7 of numeral 4 “Types of Credit” of Chapter I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it. (…)”

Article Third.- Substitute the third paragraph of Article 19° of the Credit Risk Management Regulation, approved by Resolution SBS No. 3780-2011 and its amendments, with the following:

“As it relates to credits to micro-enterprises and small enterprises, companies may dispense with some of the documentary requirements and carry out credit evaluations, generating indicators of the payment capacity of the family-business unit, from substantiated information prepared jointly with the potential borrower, to the satisfaction of this regulatory body. Additionally, information about the social and economic environment of the debtor may be considered. Likewise, for the granting of working capital loans or other short-term products, prior approval of the Board of Directors and compliance with what is stated in the Tenth Final and Transitional Provision of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by Resolution SBS No. 11356-2008 and its amendments, or the norm that substitutes it, companies may use transactional information from verifiable sources, for the determination of annual sales, income, and expenses of the family-business unit.”

Article Fourth.- Incorporate into the Annex “Scheduled Activities” of the Internal Audit Regulation, approved by Resolution SBS No. 11699-2008 and its amendments, the following:

Incorporate numeral 25) in subsection I. COMPANIES INDICATED IN LETTERS A, B AND C OF ARTICLE 16 OF THE GENERAL LAW (EXCEPT GUARANTEE AND SURETY COMPANIES), BANCO DE LA NACIÓN, BANCO AGROPECUARIO, FONDO MIVIVIENDA AND CORPORACIÓN FINANCIERA DE DESARROLLO (COFIDE), in the following terms:

“25) For companies included in letters A and B of Article 16 of the General Law, as well as for Banco de la Nación and Banco Agropecuario, evaluation of compliance with the requirements for the use of transactional information for the estimation of sales, income, and expenses of the family-business unit of debtors with credits to small enterprise or micro-enterprise, if applicable.”

Incorporate numeral 13) in subsection IV. GUARANTEE AND SURETY COMPANIES, in the following terms:

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“13) Evaluation of compliance with the requirements for the use of transactional information for the estimation of sales, income, and expenses of the family-business unit of debtors with credits to small enterprise or micro-enterprise, if applicable.”

Article Fifth.- Modify Circulars No. B-2184-2010, F-524-2010, CM-371-2010, CR-240-2010, EF-2-2010, EAH-6-2010, EAF-241-2010, EDPYME-133-2010, FOGAPI-36-2010, according to the following:

Substitute numerals 2.5 and 2.6 of numeral 2, with the following:

“2.5 The Financial Statements referred to in Annex No. 2 are mandatory for non-retail debtors. The aforementioned Financial Statements must be prepared in accordance with current accounting standards.
2.6 Companies must adapt the minimum information requirements requested in Annexes No. 1 and No. 2 according to the internal criteria established in the case of retail debtors.
In the case of Annex No. 1, for credits to retail debtors, granted to natural persons without business activity, it may be limited to section I; and for credits granted to natural persons micro-enterprises and small enterprises to points I, VII, VIII and IX (adapting the other sections to the family and patrimonial relationships they may have with other companies). In the case of Annex No. 2, it may:
a) for credits to retail debtors, granted to natural persons without business activity, be limited to the items that are pertinent for this type of debtor. b) for credits to natural and legal persons classified as micro-enterprise, limit the financial information requirements to the Cash Flow, and limit the requirements of numeral 4. of point IV to the aspects of monitoring and collection of the credit operation. c) for credits to natural and legal persons classified as small enterprises, simplify the financial information requirements, with the Cash Flow always being mandatory, and the requirements of numeral 4. of point IV. Efforts should be made to maintain the level of information with which previously classified non-retail debtors were provided. This Superintendency may require the inclusion of complementary information that allows for a greater knowledge of the business or personal situation of the debtors, in order to carry out an adequate evaluation and classification of them.”

Eliminate numeral 2.7.
Incorporate as numeral 1-A in Section I ECONOMIC AND FINANCIAL INFORMATION OF DEBTORS of Annex 2, the following:

“1-A. Declaration to the Tax Authority, in the case that the company is based on the annual sales or income from ordinary activities declared to the tax authority for the typification of credits.”

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Substitute numerals 1, 3, 7 and 10 of Section I ECONOMIC AND FINANCIAL INFORMATION OF DEBTORS of Annex 2, with the following:

“1. Financial Statements:

Statement of Financial Position
Statement of Results
Statement of Changes in Equity
Statement of Cash Flows

In the case of economic groups, it must also contain the consolidated economic-financial evaluation; and the economic-financial evaluation of the legal person or legal entity of the same economic group that meets the level of annual sales or income from ordinary activities, this in the case that the company is based on the annual sales or income from ordinary activities mentioned above for the typification of credits.
The Financial Statements indicated in point 1 must present the corresponding notes to the financial statements, and must refer to two (2) economic years, immediately prior to the date of granting the credit. Likewise, the aforementioned financial information must comply with the provisions indicated in articles 175 and 223 of the General Law of Companies, as well as with current accounting standards.
The obligation to report the Financial Statements will remain while the liability with the financial system company is in effect, and must have, as a minimum, a semi-annual update frequency in the case of the Statement of Financial Position and the Statement of Results and annual in the case of the Statements of Changes in Equity and the Statement of Cash Flows. A maximum age of eighteen (18) months is accepted. The obligation to send the Declaration presented to the Tax Authority, in the case that the company is based on the annual sales or income from ordinary activities declared to the tax authority for the typification of credits, will remain while the liability with the financial system company is in effect, and must have, as a minimum, an annual update frequency. A maximum age of eighteen (18) months is accepted.”
In the second paragraph of numeral 2 of Section I ECONOMIC AND FINANCIAL INFORMATION OF DEBTORS of Annex 2, replace MES with micro-enterprises.

Article Sixth.- This resolution enters into force according to what is stipulated below:

i) Numerals 1 and 5 of Article One of this Resolution; as well as paragraphs third, eighth and ninth of numeral 5.1 of numeral 5 of Chapter I of the Regulation, modified by numeral 4 of Article One of this Resolution, enter into force the day after their publication in the Official Newspaper “El Peruano”. 1

1 Subsequently, the entry into force of the substitution of letter l) of numeral 2 “Definitions” of Chapter I “Concepts and principles for the evaluation and classification of the debtor and the requirement of provisions” of the Regulation was modified by Article Three of Resolution SBS No. 3212-2023. The new entry into force of the cited letter is October 1, 2024.

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ii) The sixth paragraph of numeral 5.1 of numeral 5 of Chapter I of the Regulation, modified by numeral 4 of Article One of this Resolution, enters into force from ninety (90) calendar days after the publication of this Resolution.

iii) The seventh paragraph of numeral 5.1 of numeral 5 of Chapter I of the Regulation, modified by numeral 4 of Article One of this Resolution, enters into force from June 30, 2024.

iv) Numerals 2, 3 and 6 of Article One of this Resolution, Article Two of this Resolution, and Article Five of this Resolution, enter into force from October 1, 2024.

v) Paragraphs fourth and fifth of numeral 5.1 of numeral 5 of Chapter I of the Regulation, modified by numeral 4 of Article One of this Resolution, numeral 7 of Article One of this Resolution, and Article Three of this Resolution, enter into force from January 1, 2025.

vi) What is stipulated in Article Four of this Resolution must be included in the 2025 Annual Work Plan to be sent to this Superintendency no later than December 31, 2024, as established in the Internal Audit Regulation, approved by Resolution SBS No. 11699-2008 and its modifying norms, or the norm that substitutes it.

Article Seventh 2
.- This Resolution does not apply to Savings and Credit Cooperatives Not Authorized to Capture Public Resources (Coopac) of level 2 with total assets greater than 32,200 UIT nor to Coopac of level 3.

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

2 Article incorporated by Resolution SBS No. 2835-2023, published on 29/08/2023.

Resolution SBS No. 2368-2023: Amending Regulations on Debtor Evaluation and Classification, Credit Risk Capital Requirements, Credit Risk Management, Internal Audit, and Related Circulars

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