Resolution SBS No. 480-2019: Approval of the General Regulation for Savings and Credit Cooperatives Not Authorized to Capture Public Funds

Lima, February 6, 2019
Resolution S.B.S.
No. 480-2019

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, in exercise of the powers established in items 7 and 9 of article 349, as well as in the Twenty-Fourth Final and Complementary Provision of the General Law of the Financial System and of the Insurance System and Organic Law of the Superintendence of Banking and Insurance - Law No. 26702 and its amendments, in advance General Law, through Resolution SBS No. 540-99 and its amendments, the Regulation of the Savings and Credit Cooperatives Not Authorized to Operate with Public Funds was approved;

That, Law No. 30822, Law that modifies Law No. 26702, General Law of the Financial System and of the Insurance System and Organic Law of the Superintendence of Banking and Insurance, and other concordant norms, regarding the regulation and supervision of savings and credit cooperatives, modified the Twenty-Fourth Final and Complementary Provision of the General Law, establishing new provisions regarding the regulation and supervision of savings and credit cooperatives not authorized to capture public funds (Coopac);

That, in item 4-A-1 of the Twenty-Fourth Final and Complementary Provision of the General Law, it is established that in matters of regulation, the Superintendence of Banking, Insurance and AFP, issues the norms that are necessary for the fulfillment of what is established in the aforementioned final and complementary provision, as well as the other aspects that are necessary for the supervision and regulation of the Coopac, which are consistent with the modular scheme contemplated in item 2 of the aforementioned final and complementary provision. The norms issued by the Superintendence of Banking, Insurance and AFP must respect the cooperative and proportionality principles applicable to supervision;

That, it is necessary to replace and adapt to the aforementioned modifications, the Regulation of the Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved through Resolution SBS No. 540-99 and its amendments;

That, in that sense, it is necessary to establish the procedure for the approval and modification of the Statutes of the Coopac; the elements that must be taken into account to evaluate the moral suitability of directors, managers and main officials, as well as the technical suitability of managers and main officials; the procedure to obtain authorization to carry out new operations, either jointly or individually, as appropriate; the computation of effective equity; the equity requirements; the limits and prohibitions applicable; the liquidity requirements; among other topics; maintaining consistency with the modular scheme established in Law No. 30822, and respecting the cooperative and proportionality principles applicable to supervision, establishing also adaptation periods that imply a gradual application of the provisions, allowing compliance without affecting the viability of the Coopac system;

That, for the purpose of collecting the opinions of the general public regarding the proposal for regulation, the pre-publication of the draft resolution on the matter was ordered on the electronic portal of the Superintendence, in compliance with what is established in the Thirty-Second Final and Complementary Provision of the General Law, item 2 of the Fifteenth Final Complementary Provision of Law No. 30822 and of Supreme Decree No. 001-2009-JUS;

Having the previous technical and positive report of viability of the norm of the Assistant Superintendent of Cooperatives and with the approval of the Assistant Superintendences of Cooperatives and of Legal Advice; and,

In exercise of the powers conferred by items 7 and 9 of article 349 of the General Law, as well as in item 4 A of the Twenty-Fourth Final and Complementary Provision of the General Law;

RESOLVES:

Article First.- Approve the “General Regulation of the Savings and Credit Cooperatives Not Authorized to Capture Public Funds”, in the following terms:

GENERAL REGULATION OF THE SAVINGS AND CREDIT COOPERATIVES NOT AUTHORIZED TO CAPTURE PUBLIC FUNDS

CHAPTER I
DEFINITIONS

Article 1- Definitions

For the purposes of what is established in this regulation, the following definitions are considered:

Assembly: General Assembly of Partners or Delegates.
BCRP: Central Reserve Bank of Peru.
Central Cooperatives: Central Cooperatives of Savings and Credit Cooperatives Not Authorized to Capture Public Funds that are composed exclusively of savings and credit cooperatives and correspond to the homogeneous type indicated in item 1.1 of article 59 of the LGC.
Coopac: Savings and credit cooperative not authorized to capture public funds.
Days: Calendar days, unless otherwise indicated.
Directors: The partners who are titular members of the Board of Directors, Supervisory Board, Education Committee and Electoral Committee; as well as the substitute members of each of them.
Companies or institutions linked with the financial system: The following legal persons shall be considered: i) insurance companies; ii) intermediation agents in the securities market; iii) mutual fund and investment fund management companies; iv) securitization companies; v) pension fund management companies; vi) companies providing complementary and related services established in article 17 of the General Law. This definition includes foreign legal persons of a nature similar to those mentioned above.
Federation: National Federation of Savings and Credit Cooperatives of Peru (FENACREP).
Financing: For the purposes of this norm, direct credits, accounts receivable, financial leases, investments, credit exposure equivalent of operations with derivatives and contingent credits are considered.
Manager: Comprises the general manager and first-level managers. First-level managers are those managers who are direct collaborators of the general manager in the execution of policies and decisions.
Corporate governance: is the set of processes, policies, norms and practices that determine how a Coopac is directed, managed and controlled.
Coopac Law: Law No. 30822, Law that modifies Law No. 26702, General Law of the Financial System and of the Insurance System and Organic Law of the Superintendence of Banking and Insurance, and other concordant norms, regarding the regulation and supervision of savings and credit cooperatives.
General Law: General Law of the Financial System and of the Insurance System and Organic Law of the Superintendence of Banking and Insurance, Law No. 26702 and its modifying norms.
Superintendence: Superintendence of Banking, Insurance and Private Pension Fund Administrators.
LGC: Unified Ordered Text of the General Cooperative Law approved by Supreme Decree No. 074-90-TR, or text that replaces or modifies it.
Main officials: Those who perform the functions of general accountant or equivalent position, head or responsible of the internal audit unit, when it does not have the rank of manager, head or responsible of the risk unit and other positions or functions determined by the Superintendence through Multiple Office.
Coopac Registry: National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Cooperatives.
Bank secrecy: Prohibition for Coopacs, as well as their directors and workers, to supply information on passive operations with their partners, as appropriate, in accordance with what is established in articles 140 to 143-A of the General Law.
Branch: Type of office located abroad that can carry out all operations and services permitted to the Coopac. It maintains its own accounting.

CHAPTER II
CONSTITUTION AND INSCRIPTION

Article 2- Constitution

2.1 Coopacs are constituted in accordance with what is provided by the LGC and must carry out the following two inscriptions:

Inscription in the Public Registry of Legal Persons.
Inscription in the Coopac Registry.

2.2 Coopacs may participate in any form of reorganization, such as transformation, merger, spin-off or other regulated by current legislation, being subject to what is stipulated by the General Law of Companies, Law No. 26887 and its amendments, and the LGC, and must, in case the reorganization does not imply modification of the Statute, inform the Superintendence within a maximum period of fifteen (15) days from the occurrence of the inscription of the reorganization in Public Registries. In case the reorganization implies the modification of the Statute, what is established in article 4 must be taken into account.

2.3 Regarding the forms of reorganization indicated in the previous item, the Superintendence may, temporarily, relax the compliance with some of the limits and prudential provisions established in this Regulation, and in other norms applicable to them, for a maximum period of three (3) years, at the request of the Coopacs that intend to reorganize or of the Coopac resulting from the reorganization, which is subject to the evaluation of the Superintendence and its express pronouncement on the provisions that are relaxed. The Superintendence may deny the request presented as a result of said evaluation. For the purposes of said evaluation, the Coopacs that intend to reorganize or the Coopac resulting from the reorganization must present a schedule of gradual activities to achieve compliance with the provision for which temporary relaxation is required. The Superintendence defines, in each case, the way in which progress is accredited, as well as the periodicity for its report. Non-compliance with the schedule may give rise to the adoption of measures and/or the imposition of restrictions that the Superintendence deems necessary within the framework of its competence. 1

2.4 Additionally to what is provided in the previous paragraph, the Coopac resulting from the reorganization may, under the conditions indicated in the previous paragraph, compute in its supplementary equity:

Up to ten percent (10%) of fixed-term deposits with a residual maturity greater than two (2) and up to three (3) years.
Up to twelve point five percent (12.5%) of fixed-term deposits with a residual maturity greater than three (3) and up to four (4) years.
Up to fifteen percent (15%) of fixed-term deposits with a residual maturity greater than four (4) and up to five (5) years.
Up to seventeen point five percent (17.5%) of fixed-term deposits with a residual maturity greater than five (5) years. 2

2.5 If the Coopac resulting from the reorganization is of Level 3, the percentages are applicable to the balance of the aforementioned fixed-term deposits that exceed the amount of the coverage of the Cooperative Deposit Insurance Fund (FSDC). 3

2.6 Likewise, for the purposes of the schedule for 100% compliance with the required provisions, contemplated in the Second Transitory Complementary Provision of this Regulation, the Coopac resulting from the merger may apply the same percentage of graduality, corresponding to the closing of the year of entry into force of the reorganization, until the end of the closing of the second year following that date. 4

Article 3.- Inscription in the Coopac Registry

3.1 All Coopacs are obliged to inscribe in the Coopac Registry, complying with the inscription norm issued by the Superintendence, and are obliged to send the information requested of them in said norm.

3.2 Those Coopacs that do not request their inscription or do not meet the inscription requirements or cannot carry out the correction of the observations communicated within the required period, do not enter the Coopac Registry.

1 Item incorporated by Resolution SBS No. 03727-2025 published on October 16, 2025.
2 Item incorporated by Resolution SBS No. 03727-2025 published on October 16, 2025.
3 Item incorporated by Resolution SBS No. 03727-2025 published on October 16, 2025.
4 Item incorporated by Resolution SBS No. 03727-2025 published on October 16, 2025.

3.3 Coopacs existing at the entry into force of the Coopac Law must incorporate into the Cooperative Deposit Insurance Fund (FSDC) within a maximum period of one (1) year counted from their inscription in the Coopac Registry. Upon expiration of said period, they must immediately suspend the capture of new deposits, and must, within a maximum period of thirty (30) days, present to the Superintendence a plan for the return of the deposits they maintain. If upon expiration of said thirty (30) day period the deposit return plan has not been approved and if this is attributable to the Coopac because it fails to meet the requirements established by the Superintendence, they will be excluded from the Coopac Registry. The same will occur in the case that the conditions established in the plan approved by the Superintendence are not met.

3.4 Coopacs constituted from the entry into force of the Coopac Law have a period of (30) days from their inscription in the Coopac Registry to request their inscription in the FSDC. If upon expiration of said period they have not presented their inscription request in the FSDC, they will be excluded from the Coopac Registry.

Article 4.- Statutes 5

4.1 The Statute and its modifications must be presented to the Superintendence for prior review of the legality of its articles and its approval.

4.2 For the review, Coopacs or Central Cooperatives must present a copy of the Act of the Board of Directors certified by its secretary or whoever acts in their place, in which the draft Statute or its modifications are recorded and approved. In the case that the review of partial modifications is required, a copy of the current Statute must be presented.

4.3 For the approval of the Statute or its modifications, Coopacs or Central Cooperatives must present the following:

Copy of the Act of agreement of the General Assembly certified by its secretary or whoever acts in their place, in which the final version of the Statute or its modifications is approved, in accordance with the review mentioned in paragraph 4.2.
Minutes signed by the legal representative that records the final version of the Statute or of its modifications.

4.4 Without the prior approval of the Superintendence, the inscription of the Statute or of its modifications in Public Registries does not proceed. The pronouncement of the Superintendence in the procedure for approval must be issued within a period of thirty (30) business days from the presentation of the respective request; otherwise, the Statute or the proposed modification will be considered approved.

CHAPTER III
CORPORATE GOVERNANCE

SUBCHAPTER I
GENERAL ASPECTS OF CORPORATE GOVERNANCE

Article 5.- Government and Control Bodies

5.1 As established in article 25 of the LGC, the direction, administration and control of the Coopac is in charge of the Assembly, the Board of Directors and the Supervisory Board, respectively.

5 Article replaced by Resolution SBS No. 1285-2020 of April 14, 2020.

5.2 Coopacs must ensure that the Assembly, Board of Directors, Supervisory Board, Electoral Committee, Education Committee, managers and main officials are duly trained in cooperative principles and in the norms that regulate the activity of the Coopac.

Article 6.- Corporate Governance of Coopac

6.1 Coopacs must define general principles and guidelines for the adoption and implementation of corporate governance practices that serve as a guide for the action of the Coopac's government bodies in accordance with the LGC and cooperative principles.

6.2 The corporate governance structure specifies the distribution of rights and responsibilities among the different government bodies and groups of interest. Corporate governance also provides the structure through which the Coopac's objectives are established, the means to achieve these objectives, as well as the way to monitor their performance.

Article 7.- Communication of election, designation and vacancies 6

7.1 Any election of directors, designation of general manager, managers and main officials of a Coopac, as well as the vacancy and designation of replacements, must be communicated to the Superintendence within a period not exceeding fifteen (15) days from their occurrence, attaching a copy of the act of the general assembly session or the corresponding document duly certified by the secretary or whoever acts in their place. In the case of designation of officials, the corresponding documented curriculum vitae of the general manager, managers and/or main officials must be attached, through the means established by the Superintendence.

7.2 The Coopac must send to the Superintendence within five (05) business days of its inscription in the Public Registries, the simple copy of the inscription certificate of the directors and general manager, as appropriate.

Article 8.- Management Follow-up

The follow-up of the adequate functioning of the Boards of Directors and Supervisory Boards must be exercised by the partners or delegates, as appropriate, who, meeting in Assembly, must adopt and permanently evaluate the policies and measures pertinent, including those necessary for the adequate compliance with this regulation.

Article 9.- Policies on matters of conflicts of interest

The Statutes of the Coopacs must describe the situations that generate conflicts of interest that arise within the Coopac's own government and management bodies, as well as between its partners and the Coopac. Likewise, they must implement policies and procedures for their treatment, follow-up and control. For the definition of conflict of interest, what is established in article 180 of the General Law of Companies is taken into account.

Article 10.- Timely knowledge of communications from the Superintendence

The President of the Board of Directors, the President of the Supervisory Board or the General Manager, depending on who receives the communication, under their responsibility, must bring to the knowledge of the Board of Directors or the Supervisory Board, as appropriate, immediately, any communication they receive from the Superintendence and/or the technical collaborator, mainly that referred to inspection visits or investigations carried out, or that contains recommendations on corporate governance, their activities or operations. Likewise, when requested by the Superintendence and/or the technical collaborator, they must also immediately inform the Assembly about the content of said communications.

SUBCHAPTER II
BOARD OF DIRECTORS

Article 11.- Composition of the Board of Directors

The Board of Directors is composed of a number of members that is sufficient for an effective and participatory performance, and that enables the formation of the committees indicated in the Coopac's Statute. It is composed of persons who meet the requirements established in the Coopac's Statute and who are not subject to the impediments provided in article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Cooperatives.

Article 12.- General responsibilities of the Board of Directors

The Board of Directors is responsible for:

a) Establishing the main objectives and goals of the Coopac, elaborating and approving the Strategic Plan and budget of the Coopac, making it known to the Assembly in due course.

b) Establishing an adequate system of delegation of powers, segregation of functions and of treatment of possible conflicts of interest throughout the Coopac.

c) Approving the organization and functions manuals, policies and procedures manuals and other manuals and internal regulations of the Coopac. For Level 1 Coopacs and for Level 2 Coopacs with total assets less than or equal to 32,200 UIT, it is necessary to have at least an organization and functions manual and a manual of credit, savings and contributions policies and procedures.

d) Selecting a General Manager with technical and moral suitability who acts in accordance with the development of the Coopac's operations and services, as well as evaluating their performance.

e) Approving succession plans for the general management.

f) Establishing the culture and values of the Coopac, as well as the criteria of professional responsibility required of directors, managers, main officials and other workers.

g) Approving operations and adopting agreements that do not infringe applicable legal provisions, including those regarding prohibitions or limits established by this Regulation nor that favor personal interests.

h) Adopting necessary measures to correct irregularities in management.

i) Compliance with the provisions of the Superintendence.

j) Compliance with sanctions imposed by the Superintendence.

k) Informing the Supervisory Board and the Assembly, in the next session, of the sanctions that the Superintendence has imposed on the Coopac and its directors or managers for the commission of infractions, leaving a record of said communication in the act corresponding to the referred session. The agreements for the correction of the infraction must be adopted in the same session in which it is informed. The certified copy of the act corresponding to the referred session must be sent to the Superintendence within a maximum period of fifteen (15) days counted from the holding of the session.

l) Sending the certified copy of the act referred to in the previous letter.

m) Providing timely and truthful information to the Superintendence, regarding facts or operations that could affect the stability and solidity of the Coopac.

n) Responding to communications from the Superintendence, within the established periods.

o) Adopting necessary measures to guarantee the timely carrying out of the tasks of the Supervisory Board, external audits and inspection visits, as appropriate.

p) Ensure that the Coopac has effective equity above the limit, anticipating possible negative fluctuations of the economic cycle and based on the risk profile of its operations.

q) Ensure the renewal by thirds of the directors annually in the General Assembly, within ninety (90) calendar days of closing the annual economic year of the Coopac.

r) Communicate its agreements to the Supervisory Council within a maximum period of fifteen (15) days counted from the adoption of the agreement.

s) Require the presentation of the reports referred to in Article 15, as well as analyze them and adopt the corrective measures that are necessary.

t) Inform the General Assembly, a summary of the reports indicated in Article 15, taking into consideration Law No. 29733, Law on the protection of personal data, as well as communications from the Superintendence indicated in Article 10.

SUBCHAPTER III
SUPERVISORY COUNCIL

Article 13.- Composition of the Supervisory Council
The Supervisory Council is composed of a number of members that is sufficient for its performance as the supervisory body of the Coopac and to exercise the functions indicated in Article 31 of the LGC and those indicated in the Statute of the Coopac and in the specific norms issued by the Superintendence.

SUBCHAPTER IV
GENERAL MANAGEMENT

Article 14.- General responsibilities of the General Manager
The General Manager is responsible for:
a) Approving operations and executing agreements that do not infringe applicable legal provisions, including those regarding prohibitions or limits established by this Regulation nor those that favor personal interests. b) Compliance with the provisions of the Superintendence. c) Compliance with sanctions imposed by the Superintendence. d) Providing timely and truthful information to the Superintendence, regarding facts or operations that could affect the stability and solidity of the Coopac. e) Responding to communications from the Superintendence, within the established deadlines.

Article 15.- Management reports
15.1 The General Manager is responsible for informing the Board of Directors about the management of the Coopac.
15.2 The General Manager is responsible for presenting to the Board of Directors, at least, the following management reports:
a) Inform, at least quarterly and in writing, about the economic progress of the Coopac, comparing that report with the corresponding one from the previous quarter and with the goals foreseen for that period. b) Inform in each ordinary session and in writing, about the credits granted, as well as about the investments made since the preceding session.

c) Inform in each ordinary session and in writing, about the situation of its credit debtors and investments. For this purpose, it must apply the regulations on the matter established by the Superintendence. d) Inform, at least semi-annually and in writing, about the main risks faced by the Coopac and the actions adopted to manage them adequately. e) Inform about requests from new members and withdrawals.
15.3 The Superintendence may request, when it deems necessary, copies of the aforementioned reports within the period it considers pertinent.

SUBCHAPTER V
SUITABILITY OF DIRECTORS, MANAGERS, AND MAIN OFFICIALS

Article 16.- Moral suitability of directors, managers, and main officials
16.1 Directors, managers, and main officials must meet requirements of moral suitability and must not be subject to the impediments provided in Article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Organizations.
16.2 Directors, managers, and main officials must present annually to the Superintendence, within a period not exceeding April 30, a sworn statement that they meet requirements of moral suitability and are not subject to the impediments provided in Article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Organizations.
16.3 In case the Coopac detects that a director is allegedly subject to one or more impediments indicated in Article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Organizations, it is required that the corresponding Council or Committee communicate such situation to the affected director, granting them a peremptory deadline to submit their defenses, which must not exceed six (6) business days, a deadline that exceptionally may be extended with due justification. Upon completion of the aforementioned deadline, the corresponding Council or Committee must forward all actions taken to the internal audit unit or whoever performs that function for its corresponding evaluation.
16.4 Within a maximum period of fifteen (15) business days of receiving the documentation established in the preceding paragraph, the internal audit unit or whoever performs that function, prepares an official evaluation report of the alleged impediments of the director, which must be forwarded to the corresponding Council or Committee.
16.5 In case the internal audit unit or whoever performs that function determines the existence of any impediment, it must immediately inform the corresponding Council or Committee, and this, within a maximum period of six (6) business days of learning of the existence of the impediment, must inform the suspension of their functions to the director subject to the impediment, and incorporate the corresponding substitute director. In case there is no substitute director available, the Board of Directors calls an Extraordinary General Assembly within a maximum period of thirty (30) business days. The removal of the involved director must be an agenda item in the next General Assembly.
16.6 The substitute director assumes the position of titular director.

16.7 In case the Coopac detects that a manager or main official, other than the internal auditor or whoever performs that function, is allegedly subject to one or more impediments indicated in Article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Organizations, it is required that the Board of Directors communicate such situation to the affected manager or main official other than the internal auditor or whoever performs that function, granting them a peremptory deadline that must not exceed six (6) business days to submit their defenses, a deadline that exceptionally may be extended with due justification. Upon completion of the aforementioned deadline, the Board of Directors must forward all actions taken to the internal audit unit or whoever performs that function for its corresponding evaluation.
16.8 Within a maximum period of fifteen (15) business days of receiving the documentation established in the preceding paragraph, the internal audit unit or whoever performs that function, prepares an official evaluation report of the alleged impediments of the manager or main official other than the internal auditor or whoever performs that function, which must be forwarded to the Board of Directors.
16.9 In case the internal audit unit or whoever performs that function determines the existence of any impediment, the Board of Directors, within a maximum period of six (6) business days of learning of the existence of the impediment, must inform the suspension of their functions and removal of the manager or main official other than the internal auditor or whoever performs that function, involved.
16.10 In case the Coopac detects that the internal auditor or whoever performs that function is allegedly subject to one or more impediments indicated in Article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Organizations, it is required that the Board of Directors communicate such situation to the affected internal auditor or whoever performs that function, granting them a peremptory deadline that must not exceed six (6) business days to submit their defenses, a deadline that exceptionally may be extended with due justification.
16.11 Within a maximum period of fifteen (15) business days of receiving the documentation established in the preceding paragraph, the Board of Directors prepares an official evaluation report of the alleged impediments of the internal auditor or whoever performs that function.
16.12 In case the Board of Directors determines the existence of any impediment, within a maximum period of six (6) business days, it must inform the suspension of their functions and removal of the involved internal auditor or whoever performs that function.

Article 17.- Technical suitability of managers and main officials
17.1 Managers and main officials must meet requirements of technical suitability that qualify them to perform the position adequately. The technical suitability requirements referred to, at minimum, to studies and/or experience, must be consistent with the level of the Coopac according to the modular scheme established in numeral 2 of the Twenty-Fourth Final and Complementary Provision of the General Law.
17.2 In Level 1 Coopacs and in Level 2 Coopacs with total assets equal to or less than 32,200 UIT, it corresponds to the Board of Directors to establish within the Coopac the technical suitability requirements that managers and main officials must meet.

17.3 Managers and main officials of Level 2 Coopacs with total assets greater than 32,200 UIT and of Level 3 Coopacs, must demonstrate technical suitability, accrediting alternatively:

Having obtained the degree of bachelor or professional title in economics, finance, accounting, law, administration, or engineering in specialties related to the aforementioned; if not the case, accrediting completed studies of master's or doctorate in any of these professions or specialties. Likewise, having experience in managerial or director-level positions for more than three (3) years in case of Level 3 Coopac, or of two (2) years in case of Level 2 Coopac with total assets greater than 32,200 UIT, in the last eight (8) years, in companies or institutions with annual revenues greater than 850 tax units (UIT); or,
Accrediting having experience in managerial or director-level positions for more than five (5) years in case of Level 3 Coopac, or of three (3) years in case of Level 2 Coopac with total assets greater than 32,200 UIT, in the last eight (8) years, in Coopac, companies of the financial system, or in companies or institutions linked to the financial system. The aforementioned years of experience may be accredited in positions of responsibility in the own Coopac.
17.4 In case the Coopac detects that a manager or main official, other than the internal auditor or whoever performs that function, allegedly does not meet the established technical suitability requirements, it is required that the Board of Directors communicate such situation to the affected manager or main official other than the internal auditor or whoever performs that function, granting them a peremptory deadline that must not exceed six (6) business days to submit their defenses, a deadline that exceptionally may be extended with due justification. Upon completion of the aforementioned deadline, the Board of Directors must forward all actions taken to the internal audit unit or whoever performs that function for its corresponding evaluation.
17.5 Within a maximum period of fifteen (15) business days of receiving the documentation established in the preceding paragraph, the internal audit unit or whoever performs that function, prepares an official evaluation report of the alleged non-compliance of the manager or main official other than the internal auditor or whoever performs that function, which must be forwarded to the Board of Directors.
17.6 In case the internal audit unit or whoever performs that function determines that the established technical suitability requirements are not met, the Board of Directors, within a maximum period of six (6) business days of learning of the non-compliance, must inform the suspension of their functions and removal of the manager or main official other than the internal auditor or whoever performs that function, involved.
17.7 In case the Coopac detects that the internal auditor or whoever performs that function, allegedly does not meet the established technical suitability requirements, it is required that the Board of Directors communicate such situation to the internal auditor or whoever performs that function, granting the affected party a peremptory deadline that must not exceed six (6) business days to submit their defenses, a deadline that exceptionally may be extended with due justification.
17.8 Within a maximum period of fifteen (15) business days of receiving the documentation established in the preceding paragraph, the Board of Directors prepares an official evaluation report of the alleged non-compliance of the internal auditor or whoever performs that function.
17.9 In case the Board of Directors determines that the established technical suitability requirements are not met, within a maximum period of six (6) business days, it must inform the suspension of their functions and removal of the involved internal auditor or whoever performs that function.

Article 18.- Permanent evaluation of requirements and impediments
18.1 Coopacs must have a corporate governance framework that allows monitoring the permanent compliance of the moral suitability requirements of directors, managers, and main officials, as well as the non-subjection to the impediments established in Article 6 of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central Organizations.
18.2 Likewise, Coopacs must have a corporate governance framework that allows monitoring the permanent compliance of the technical suitability requirements of managers and main officials.

CHAPTER IV
OPERATIONS AND SERVICES

SUBCHAPTER I
OPERATIONS AND SERVICES OF LEVELS 1, 2 AND 3

Article 19.- Operations and services of level 1
19.1 Level 1 comprises the following operations:

Receive deposits from its members. Does not include current accounts nor deposits for Service Time Compensation (CTS).
Grant direct credits to its members, with or without guarantee, according to the conditions specified in the respective credit regulation of the Coopac.
Grant guarantees and sureties to its members, for a determined term and amount, not valid for contracting processes with the State.
Receive credit lines from national or foreign entities.
Acquire the movable and immovable goods necessary for the development of its activities.
Make deposits in financial institutions or in other entities of the savings and credit cooperative system.
Operate in foreign currency.
Establish, make contributions, or acquire shares or participations in other cooperatives, or in companies whose object is to provide services to its associates or have compatibility with its social object. This must be communicated to the Superintendence within a period of ten (10) business days.
Perform discounting and factoring operations with its members.
Perform collection, payment, and fund transfer order operations where at least one party must be a member (ordering party or beneficiary).
Perform credit portfolio sale operations, according to what is established in the Regulation of Transfer and Acquisition of Credit Portfolio approved by SBS Resolution No. 1308-2013 and its amendments, but respecting the concentration limits applicable to Coopacs according to this Regulation. For the purposes of applying this norm, persons linked to the Coopac are considered to be persons who integrate its economic group, as well as its directors, managers, and main officials.
Issue and administer debit cards, prior authorization of the Superintendence.
19.2 Coopacs may perform activities that contribute to the realization of the operations expressly contemplated in this level, to the extent that they do not transgress the norms issued by the Superintendence and do not denature the aforementioned operations.

Article 20.- Operations and services of level 2
20.1 Level 2 comprises the operations of level 1, plus the following:

Receive deposits for Service Time Compensation (CTS) from its members.
Grant guarantees and sureties to its members, for a determined term and amount, valid for contracting processes with the State.
Perform financial leasing and real estate capitalization operations with its members.
Grant inter-cooperative active funds.
Buy, conserve, and sell titles representing internal and external public debt, as well as obligations of the BCRP.
Acquire, conserve, and sell securities representing capital that are traded in some centralized negotiation mechanism and instruments representing private debt according to the norms issued by the Superintendence, as well as certificates of participation in mutual funds and investment funds.
Contract foreign currency forwards for hedging purposes, prior authorization of the Superintendence, only with counterparties authorized by it. The performance of this operation is governed by what is established for forwards for hedging purposes in the Regulation for the Negotiation and Accounting of Financial Derivatives in Companies of the Financial System approved by SBS Resolution No. 1737-2006 and its amendments.
Perform credit portfolio purchase operations from other Coopacs, companies of the financial system, or commercial companies, provided that the debtors whose portfolio is acquired are members of the acquiring Coopac. The performance of this operation is governed by what is established in the Regulation of Transfer and Acquisition of Credit Portfolio approved by SBS Resolution No. 1308-2013 and its amendments, but respecting the concentration limits applicable to Coopacs according to this Regulation. For the purposes of applying this norm, persons linked to the Coopac are considered to be persons who integrate its economic group, as well as its directors, managers, and main officials.
Incur subordinated redeemable debt computable in supplementary effective equity (level 2 effective equity for companies of the financial system) according to what is established in the Subordinated Debt Regulation applicable to Companies of the Financial System approved by SBS Resolution No. 975-2016.
Establish autonomous patrimony of credit insurance to establish coverages or contingency funds, prior authorization of the Superintendence; as well as establish autonomous patrimony of an assistance nature with the object of covering burial expenses for its members, in accordance with the norms issued by the Superintendence.
Issue and administer credit cards, prior authorization of the Superintendence.
20.2 Coopacs may perform activities that contribute to the realization of the operations expressly contemplated in this level, to the extent that they do not transgress the norms issued by the Superintendence and do not denature the aforementioned operations.
20.3 The Superintendence authorizes, jointly, all operations of level 2 additional to those of level 1 that do not require specific authorization, according to the procedure established in Article 23.

Article 21.- Operations and services of level 3
21.1 Level 3 comprises the operations of level 2, plus the following:

Provide current account services to its members, subject to prior and binding opinion of the BCRP.
Issue Negotiable Mortgage Credit Titles to its members, in accordance with the regime established in Article 245.4 of Law 27287, Law of Securities, and its amendments.
Contract financial derivative products, both for hedging purposes and for trading purposes, with prior authorization from the Superintendence, only with counterparties authorized by it. The execution of this operation is governed by what is established in the Regulation for the Trading and Accounting of Financial Derivatives in Financial System Companies approved by Resolution SBS No. 1737-2006 and its amendments.
Act as trustees in trusts whose settlors or beneficiaries are its members, in accordance with the General Law and the Regulation of Trusts and Trust Service Companies approved by Resolution SBS No. 1010-99 and its amendments, insofar as applicable.
Provide all types of credit established by the Superintendence for any company in the financial system.

21.2 Coopacs may carry out activities that contribute to the realization of the operations expressly contemplated in this level, insofar as they do not violate the rules issued by the Superintendence and do not distort the aforementioned operations.
21.3 The Superintendence authorizes, jointly or individually, the additional Level 3 operations to those of Level 2, in accordance with the procedure established in Article 24.
21.4 Likewise, with prior authorization from the Superintendence, Level 3 Coopacs may also carry out other operations indicated in Article 221 of the General Law provided they are related to their nature. To obtain such authorization, Coopacs must follow the procedure established in Article 25.

SUBCHAPTER II
AUTHORIZATIONS FOR EXPANSION OF OPERATIONS

Article 22.- Authorization to sell credit portfolio when applicable, as well as to issue and administer debit cards, for Level 1 Coopacs

22.1 To sell credit portfolio, Level 1 Coopacs must request authorization, when applicable, in accordance with what is established in the Regulation for the Transfer and Acquisition of Credit Portfolio approved by Resolution SBS No. 1308-2013 and its amendments.
22.2 To issue and administer debit cards, Coopacs must follow the procedure to obtain the development and implementation authorizations established in Article 23, applying said procedures in this case only to the operation in question.
22.3 To request the authorizations indicated in the preceding paragraphs of this article, compliance with what is indicated in the Second Complementary Transitory Provision must also be met.

Article 23.- Authorization to carry out Level 2 operations additional to Level 1

23.1 To carry out, jointly, all Level 2 operations additional to Level 1, other than issuing and administering credit cards, Coopacs must obtain a development authorization.
23.2 To obtain the joint development authorization for all Level 2 operations additional to Level 1, other than issuing and administering credit cards, Coopacs must submit to the Superintendence a request signed by the General Manager, attaching the following documentation:
a. Certified copy of the agreement of the competent social body where the decision to carry out the requested operations and/or services is recorded. b. Report that includes, at a minimum, the following points:
i. Description of the new operations and/or services.
ii. Strategy to provide the new operation or service.
iii. Description of the operational processes associated with the new operations and/or services.
iv. Description of the operational and computer changes to be made in the Coopac to provide the new operation or service.
v. Information on the areas responsible for executing the processes associated with the new operations and/or services.
vi. Estimation of the required investment.
c. Draft amendment to the Social Statute of the Coopac, if applicable, signed by the General Manager.
d. Report from the Risk Unit, or whoever performs that function, containing an evaluation of the risks associated with the new operations and/or services. Said report must include, at a minimum, the description of the risks identified as a consequence of the launch of the new operation or service, as well as the results of the evaluation performed and proposed treatment measures to manage the risks. For the description of identified risks, what is established in paragraph 4 of the Regulation for the Integral Risk Management for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 13278-2009 must be taken into account. e. Report from the compliance officer containing the evaluation of the level of exposure to AML/CFT risks in accordance with what is provided in the Regulation for the prevention of money laundering and terrorist financing applicable to Savings and Credit Cooperatives not authorized to operate with public funds. f. Schedule that includes the planned launch date.
23.3 To request the aforementioned development authorization, compliance with what is indicated in the Second Complementary Transitory Provision must also be met.
23.4 Additionally, to evaluate the granting of the development authorization resolution, the Superintendence takes into account complementary evaluation factors such as the Coopac's solvency levels, the solidity of corporate governance and the risk management system, among other criteria it considers relevant.
23.5 Within a maximum period of ninety (90) business days, calculated from the presentation of complete documentation, and after the corresponding evaluation, the Superintendence, if deemed appropriate, issues the corresponding development authorization resolution for new operations or services.
23.6 Regarding operations contemplated in the joint development authorization that were not evaluated by the Superintendence at the time of granting said authorization, they may only be carried out with prior non-objection from the Superintendence of the reports indicated in letters b, d, and e of paragraph 23.2 referred to said operations.
23.7 The development authorization resolution for new operations or services expires after two (2) years from its issuance.

23.8 After obtaining the aforementioned development authorization, to contract foreign currency forwards for hedging purposes, for the purchase of credit portfolio, and for the issuance of instruments representing redeemable subordinated debt computable in supplementary effective equity, the specific norms issued by the Superintendence for such operations must be taken into account.
23.9 The Coopac must communicate to the Superintendence when the launch of the new operation and/or service begins.
23.10 The authorization to issue and administer credit cards has two stages. First, the development authorization referred to in the preceding paragraphs of this article must be obtained, and subsequently the implementation authorization. In this case, as part of the information to be submitted to obtain the development authorization, the reference to the draft amendment of the Social Statute of the Coopac must be replaced by the project of draft amendment of the Social Statute of the Coopac.
23.11 Once the development authorization to issue and administer credit cards is obtained, subsequently, to obtain the implementation authorization, Coopacs must submit to the Superintendence a request signed by the General Manager stating that the Coopac has carried out the necessary activities to offer the aforementioned operation, attaching the following documentation:
a. Draft amendment to the Social Statute of the Coopac, if applicable, signed by the General Manager. b. Policy and Procedure Manuals, as well as Organization and Functions Manuals, modified according to the new operation.
c. Report from the Risk Unit, or whoever performs that function, containing an updated evaluation of the risks associated with the new operation. Said Report must include, at a minimum, the description of the risks identified as a consequence of the launch of the new operation or service, as well as the results of the evaluation performed and proposed treatment measures to manage the risks. For the description of identified risks, what is established in paragraph 4 of the Regulation for the Integral Risk Management for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 13278-2009 must be taken into account.
d. Report containing a description of the technological infrastructure and information systems that support the new operation. Said report must contain the security measures and business continuity strategies implemented or planned. e. Report from the compliance officer describing the actions and/or changes developed in the AML/CFT risk prevention and management system that have arisen from the evaluation of the level of exposure to AML/CFT risks to which the new operation would be exposed. f. Report with the opinion of the Internal Audit Unit, or whoever performs that function, on the carrying out of the new operation.
23.12 To request the aforementioned implementation authorization, compliance with what is indicated in the Second Complementary Transitory Provision must also be met.
23.13 Within a maximum period of sixty (60) business days calculated from the presentation of complete documentation and after the corresponding evaluation, the Superintendence, if deemed appropriate, issues the corresponding implementation authorization resolution for the new operation.

23.14 The Superintendence may order, before the issuance of the corresponding implementation authorization resolution, an on-site verification of compliance with the established requirements, in order to evaluate the Coopac's capacity to carry out the new operation.
23.15 In exceptional cases, such as not offering the operation for extensive periods after the corresponding implementation authorization resolution has been issued, the Superintendence may revoke said authorization.
23.16 The Coopac must communicate to the Superintendence when the launch of the new operation begins.

Article 24.- Authorization to carry out Level 3 operations additional to Level 2

24.1 To obtain the authorization to carry out, jointly or individually, Level 3 operations additional to Level 2, other than providing current account services to its members, Coopacs must request only the development authorization referred to in the previous article, and must comply with what is established in the Second Complementary Transitory Provision.
24.2 To obtain the authorization to carry out, jointly or individually, Level 3 operations additional to Level 2, that includes or refers to providing current account services to its members, Coopacs must request the development and implementation authorizations referred to in the previous article, and must comply with what is established in the Second Complementary Transitory Provision. Additionally, providing current account services to its members requires a prior and binding favorable opinion from the BCRP.
24.3 To this effect, once the complete documentation for the development authorization, referring to providing current account services to its members, is received, and the corresponding evaluation is carried out, the Superintendence sends the aforementioned documentation to the BCRP, for said entity to issue its opinion. The BCRP must issue its opinion within a period not exceeding thirty (30) calendar days from receipt of the corresponding letter. Said period is included within the ninety (90) business days.
24.4 After obtaining the corresponding authorization to contract financial derivative products, the specific norm issued by the Superintendence for such operation must be taken into account.

Article 25.- Authorization to carry out operations additional to Level 3

25.1 With prior authorization from the Superintendence, Level 3 Coopacs may also carry out other operations indicated in Article 221 of the General Law provided they are related to their nature.
25.2 To obtain such authorization, Coopacs must comply, where applicable, with what is established in the Regulation for the Expansion of Operations approved by Resolution SBS No. 4465-2016, as well as with what is established in the Second Complementary Transitory Provision.

Article 26.- Activities referred to in paragraph 9 of Article 8 of the LGC

26.1 The Coopac may carry out activities typical of cooperatives of other types provided for in paragraph 2 of Article 7 of the LGC, provided that they are only accessory or complementary activities to its corporate object, are authorized by its Statute or the Assembly, and directly benefit its members.

26.2 For the carrying out of the aforementioned activities, Coopacs have a limit of 10% of their total annual income, according to their financial statements at the end of the next economic year. This limit is not applicable to Central Cooperatives.

CHAPTER V
PRUDENTIAL NORMS

SUBCHAPTER I
CAPITAL, COOPERATIVE RESERVE AND EFFECTIVE EQUITY

Article 27.- Capital and contributions 7

27.1 The social capital of the Coopac is constituted by the contributions of the members, is variable and unlimited, and can only be increased through cash contributions, capitalization of surpluses, after legal deductions, and/or excesses, merger, or capitalization of credits formally authorized by each creditor and approved by the General Assembly. In the latter case, the Coopac must have available to the Superintendence the documents accrediting said consent duly signed by the creditors, for a minimum period of ten years. Exceptionally and with prior authorization from the Superintendence, the social capital may be increased through the contribution of real estate. 8
27.2 Regarding the contribution of real estate, these: a) must be clean, without encumbrances or liens registered in the Public Registries that could affect their rapid realization in cash; b) must be necessary for the development of the Coopac's operations; and, c) must not exceed the limit of 80% of the effective equity established in Articles 36, 37, and 38 of this Regulation, including existing balances. Likewise, said real estate must meet the conditions to be an asset in accordance with the provisions established by the Superintendence in the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Capture Public Funds of level 1, level 2, and level 3, approved by Resolution SBS No. 577-2019 and its amendments. For this effect, the Coopac must have available to the Superintendence all documentation accrediting compliance with the aforementioned aspects, including two (2) appraisals of the real estate, prepared by two (2) independent professionals, duly registered in the Registry of Appraisers of the Superintendence, different from each other. The Superintendence may request complementary information, within the framework of the supervisory powers granted by the Coopac Law.
27.3 The Social Statute of the Coopac indicates the initial social capital and the minimum sum that a member must pay on account of the contributions they subscribe to as a requirement to be admitted as such. Said minimum sum considers the characteristics of variable capital and member's right of withdrawal established in paragraph 2.5 of Article 5 and Articles 23 and 38 of the LGC, taking into account what is established in letters m and r of paragraph 1 of the Twenty-Fourth Final and Complementary Provision of the General Law.
27.4 Contribution Certificates used to accredit the members' contributions must contain a description of their nature, clearly differentiating it from the members' deposits. Contribution certificates will be issued annually and reported to the members during the first ninety (90) calendar days of each year.

7 Article substituted by Resolution SBS No. 1285-2020 of April 14, 2020.
8 Paragraph modified by Resolution SBS No. 2926-2025 published on August 21, 2025.
9 Paragraph modified by Resolution SBS No. 2926-2025 published on August 21, 2025.

Article 28.- Cooperative reserve 10

28.1 Level 1 Coopacs must reach a cooperative reserve, not considering the revaluation surplus, no less than the equivalent of fifteen percent (15%) of their social capital. The gradualness established in the Eleventh Complementary Transitory Provision must be considered. This reserve is constituted by allocating annually no less than twenty percent (20%) of the surpluses, without prejudice to the Assembly establishing a higher percentage. While the cooperative reserves of Level 1 Coopacs do not reach the established levels of social capital according to the aforementioned gradualness, they cannot distribute surpluses nor request the authorizations contemplated in Article 22.
28.2 Level 2 Coopacs must reach a cooperative reserve, not considering the revaluation surplus, no less than the equivalent of twenty-five percent (25%) of their social capital. The gradualness established in the Eleventh Complementary Transitory Provision must be considered. This reserve is constituted by allocating annually no less than twenty percent (20%) of the surpluses, without prejudice to the Assembly establishing a higher percentage. While the cooperative reserves of Level 2 Coopacs do not reach the established levels of social capital according to the aforementioned gradualness, they cannot distribute surpluses nor request the authorizations contemplated in Article 23.
28.3 Level 3 Coopacs must reach a cooperative reserve, not considering the revaluation surplus, no less than the equivalent of thirty-five percent (35%) of their social capital. The gradualness established in the Eleventh Complementary Transitory Provision of this Regulation must be considered. This reserve is constituted by allocating annually no less than twenty percent (20%) of the surpluses, without prejudice to the Assembly establishing a higher percentage. While the cooperative reserves of Level 3 Coopacs do not reach the established levels of social capital according to the aforementioned gradualness, they cannot distribute surpluses nor request the authorizations contemplated in Articles 24 and 25.

Article 29.- Effective Equity of Level 1 Coopacs

29.1 The effective equity of Level 1 Coopacs is determined by adding basic equity and supplementary equity.
29.2 Basic equity is constituted as follows:

Paid-in capital is added, along with cash or real estate donations that meet the conditions to be an asset in accordance with the provisions of the Accounting Manual, the cooperative reserve - except for what corresponds to the revaluation surplus -, as well as facultative reserves that can only be reduced with prior consent from the Superintendence, if any.
Surpluses from previous and current exercises that have capitalization agreement from the Assembly or the Board of Directors, by express delegation of the Assembly, are added.
Losses from previous and current exercises, as well as the deficit of provisions that has been determined, are subtracted.
The amount of commercial goodwill or credit (goodwill) resulting from the reorganization of the Coopac, as well as from the acquisition of investments, is subtracted.

10 Article substituted by Resolution SBS No. 2926-2025 published on August 21, 2025.
11 Paragraph modified by Resolution SBS No. 2926-2025 published on August 21, 2025.

The amount of investment in contributions, shares, and subordinated debt issued by other Coopac, from the country or abroad, is subtracted.
The amount of investment in contributions, shares, and subordinated debt made in entities with which financial statements must be consolidated is subtracted.

29.3 Supplementary equity is constituted as follows:

Voluntary reserves that may be reduced without prior approval from the Superintendence, if any, are added, provided that their reduction does not result in a breach of the global limit.
General provisions up to one point twenty-five percent (1.25%) of risk-weighted assets and contingencies are added.
The excess from the revaluation of real estate registered in the cooperative reserve is added. 12
Up to seven point five percent (7.5%) of fixed-term deposits with a residual maturity greater than two (2) and up to three (3) years, up to ten percent (10%) of fixed-term deposits with a residual maturity greater than three (3) and up to four (4) years, up to twelve point five percent (12.5%) of fixed-term deposits with a residual maturity greater than four (4) and up to five (5) years, and up to fifteen percent (15%) of fixed-term deposits with a residual maturity greater than five (5) years are added. 13

29.4 The supplementary equity of Level 1 Coopac computable in effective equity must not exceed one-third of their basic equity.

Article 30.- Effective Equity of Level 2 and 3 Coopac

30.1 The effective equity of Level 2 and 3 Coopac is determined by adding basic equity and supplementary equity.

30.2 Basic equity is constituted as follows:

Paid-in capital, donations in cash or real estate that meet the conditions to be an asset in accordance with the Accounting Manual provisions, the cooperative reserve (except for the revaluation excess), and voluntary reserves that can only be reduced with prior approval from the Superintendence, if any, are added.
Retained earnings from previous and current periods that have been capitalized by the General Assembly or the Board of Directors, by express delegation from the General Assembly, are added.
Losses from previous and current periods, as well as the provision deficit determined, are subtracted.
The amount of commercial goodwill resulting from the reorganization of the Coopac, as well as from the acquisition of investments, is subtracted.
The amount of investment in contributions, shares, and subordinated debt issued by other Coopac and companies in the financial or insurance systems, from the country or abroad, is subtracted.
The amount of investment in contributions, shares, and subordinated debt made in entities with which financial statements must be consolidated is subtracted.

30.3 Supplementary equity is constituted as follows:
12. Incise incorporated by Resolution SBS No. 2926-2025 published on August 21, 2025.
13. Incise incorporated by Resolution SBS No. 2926-2025 published on August 21, 2025.
14. Incise modified by Resolution SBS No. 2926-2025 published on August 21, 2025.

Voluntary reserves that may be reduced without prior approval from the Superintendence, if any, are added, provided that their reduction does not result in a breach of the global limit.
The computable portion of redeemable subordinated debt indicated by the Superintendence is added.
General provisions up to one point twenty-five percent (1.25%) of risk-weighted assets and contingencies are added.
The excess from the revaluation of real estate registered in the cooperative reserve is added.
Up to seven point five percent (7.5%) of fixed-term deposits with a residual maturity greater than two (2) and up to three (3) years, up to ten percent (10%) of fixed-term deposits with a residual maturity greater than three (3) and up to four (4) years, up to twelve point five percent (12.5%) of fixed-term deposits with a residual maturity greater than four (4) and up to five (5) years, and up to fifteen percent (15%) of fixed-term deposits with a residual maturity greater than five (5) years are added. For Level 3 Cooperatives, the percentages apply to the balance of the aforementioned fixed-term deposits that exceed the amount of coverage by the Cooperative Deposit Insurance Fund (FSDC). 16

30.4 The supplementary equity of Level 2 and 3 Coopac computable in effective equity must not exceed one-third of their basic equity.

SUBCHAPTER II
EQUITY REQUIREMENT AND GLOBAL LIMIT

Article 31.- Equity requirement for Coopac and global limit

31.1. The equity requirement for Coopac is the amount of effective equity that allows compliance with the global limit referred to in the following paragraph.

31.2 The effective equity of Coopac must be equal to or greater than 10% of risk-weighted assets and contingencies. For the calculation of this global limit, the gradualness established in the Third Supplementary Transitional Provision must be considered.

31.3 The basic equity of Coopac must be at least 7.5% of risk-weighted assets and contingencies. For this calculation, the gradualness established in the Third Supplementary Transitional Provision must be considered.

31.4 In the event that Level 3 Coopac wish to carry out Level 3 operations, they may request the corresponding authorization, and from the granting of said authorization, they must calculate their effective equity requirement for credit risk in accordance with the Regulation for the Effective Equity Requirement for Credit Risk approved by Resolution SBS No. 14354-2009 and its amendments.

31.5 All Level 3 Coopac must calculate their effective equity requirement for credit risk in accordance with the Regulation for the Effective Equity Requirement for Credit Risk approved by Resolution SBS No. 14354-2009 and its amendments, insofar as it is applicable to Coopac, starting from January 1, 2029. 17

Article 32.- Risk-weighted assets and contingencies

Incise incorporated by Resolution SBS No. 2926-2025 published on August 21, 2025.
Incise incorporated by Resolution SBS No. 2926-2025 published on August 21, 2025.
Paragraph substituted by Resolution SBS No. 3178-2023, published on September 27, 2023.

32.1 Risk-weighted assets and contingencies for credit risk (RWA) are calculated according to the following formula:
RWA = risk weighting factor x value of exposure

32.2 Exposure is calculated by including accrued earnings and deducting deferred income, specific provisions, general provisions not considered in effective equity (i.e., the excess of mandatory general provisions: fixed and procyclical components, and voluntary general provisions, over the computable amount of these in effective equity), accumulated depreciation, accumulated amortization, accumulated impairment loss, and credit risk mitigants of said exposure. For the purposes of the aforementioned calculation, provisions for investments, provisions for accounts receivable, and provisions for assets received in payment, adjudicated assets, and recovered assets are considered part of specific provisions.

32.3 The accepted credit risk mitigants are cash deposits in national and foreign currency held in the lending Coopac and subject to a security interest constituted in accordance with the Law. In the event that such deposits are not registered, a discount of 0.5% is applied to the value of such deposits.

32.4 For contingent exposures, prior to applying the risk weighting factors, exposures must be multiplied by the corresponding credit conversion factors, in accordance with Article 35.

32.5 Cash on hand, Peruvian sovereign exposures in national and foreign currency, as well as exposures with the Central Reserve Bank of Peru (BCRP) in national and foreign currency, receive a weighting factor of 0%.

32.6 Exposures with companies in the financial system and with Coopac classified as B- or better receive a weighting factor of 20%; the remaining exposures with companies in the financial system and with Coopac receive a weighting factor of 100%.

32.7 For mortgage loans for housing, the portion covered by the mortgage guarantee receives a weighting factor of 50%, while the uncovered portion receives a weighting factor of 100%. Regarding exposures with the Mivivienda Fund, the provisions of Article 34 must be considered.

32.8 The remaining exposures receive a weighting factor of 100%.

Article 33.- Counterparty substitution

33.1 For exposures that have the subsidiary liability of central governments and their agencies, central banks, the International Monetary Fund, the Inter-American Development Bank, the Andean Development Corporation, other multilateral development banks determined by the Superintendence, companies in the financial or insurance systems of the country and abroad, instrumented through bonds, guarantees, surety policies, or other similar guarantees, or that have coverage from a guarantee fund constituted by Law, which meet the requirements for the application of credit counterparty substitution, the weighting factor corresponds to the provider of the credit protection, for the covered amount.

33.2 The requirements for the application of credit counterparty substitution are as follows:

The scope of coverage must be clearly defined and unquestionable.
The protection purchase contract must be irrevocable, unless the buyer of the protection fails to pay related to the purchase. The protection provider cannot unilaterally cancel the credit coverage, reduce the coverage amount, or increase its effective cost.
The coverage must be unconditional.

33.3 Furthermore, the coverage must include clauses that obligate its realization, execution, or automatic payment, immediate or upon simple request, and must be honored by the guarantor without further procedure, upon simple request of the creditor or beneficiary of the guarantee.

Article 34.- Exposures with the Mivivienda Fund

34.1 The portion covered by the MIVIVIENDA Fund may receive the same treatment as an exposure that has a risk mitigant similar to cash deposits, provided the following are met:

The mortgage loans were granted with resources from MIVIVIENDA S.A. Fund; and
The risk coverage provided by MIVIVIENDA S.A. Fund in favor of the Coopac is applicable and in force, in accordance with the rules established by said Fund.

34.2 In the event that the coverage of MIVIVIENDA S.A. Fund has the treatment of a risk mitigant similar to cash deposits, an adjustment to reduce its value by 5% is applied. To the portion covered by the net realization value of the mortgage guarantee, net of the MIVIVIENDA S.A. Fund coverage, a weighting factor of 50% is applied. To the balance of the loan, a weighting factor of 100% is applied.

34.3 If the mortgage loans for housing were not granted with resources from the MIVIVIENDA S.A. Fund, but the risk coverage provided by the MIVIVIENDA S.A. Fund in favor of the Coopac is in force, in accordance with the rules established by said Fund, the portion of the mortgage loan for housing covered by said fund receives a weighting factor in accordance with Article 33. To the portion covered by the net realization value of the mortgage guarantee, net of the MIVIVIENDA S.A. Fund coverage, a weighting factor of 50% is applied. To the balance of the loan, a weighting factor of 100% is applied.

Article 35.- Contingent Exposures

35.1 Contingent exposures, including exposures with derivatives, are multiplied by a credit conversion factor (CCF) to calculate the equivalent direct exposure to credit risk, then receive the corresponding weighting factor taking into account the aforementioned.

35.2 Available credit lines that can be unconditionally cancelled by the Coopac at any time or for which automatic cancellation is contemplated in the event of deterioration of the borrower's solvency receive a credit conversion factor of 0%. Surety bonds backing obligations to do and not to do receive a credit conversion factor of 50%. The remaining contingent exposures, including exposures with derivatives, receive a credit conversion factor of 100%.

SUBCHAPTER III
LIMITS AND PROHIBITIONS

Article 36.- Limits applicable to Level 1 Coopac

36.1 Level 1 Coopac are subject to the following limits:

The total amount of financing granted to a member or group of members including Coopac, directly or indirectly, that represent single risk in accordance with the provisions established in Article 203 of the General Law and the Special Norms on Linkage and Economic Group approved by Resolution SBS No. 5780-2015, cannot exceed thirty percent (30%) of the Coopac's effective equity, and the sublimits contemplated in items 2 and 5, as well as what is established in Article 40, must also be taken into account.
The total amount of financing granted to a member or group of members that do not constitute Coopac, directly or indirectly, or worker, cannot exceed ten percent (10%) of the Coopac's effective equity. The provisions on single risk linkage established in Article 203 of the General Law and the Special Norms on Linkage and Economic Group approved by Resolution SBS No. 5780-2015 apply for this purpose.
The total contributions or acquisition of shares or participations in other cooperatives or entities whose purpose is to provide services to members or have compatibility with their corporate object must not exceed fifty percent (50%) of their effective equity.
The acquisition of movable or immovable assets, added to those already existing, necessary for the development of their activities, cannot exceed together one hundred percent (100%) of their effective equity.
Financing granted directly or indirectly to another member Coopac and deposits constituted in it or in a company in the financial system, added to the guarantees, bonds, and other guarantees received from said Coopac or said company in the financial system, cannot exceed twenty percent (20%) of the effective equity.

36.2 In Level 1 Coopac, it is the responsibility of the internal auditor or the person performing that function to verify compliance with the aforementioned limits. In the event of non-compliance, they must inform the Superintendence.

36.3 When financing has the subsidiary liability of central governments and their agencies, central banks, the International Monetary Fund, the Inter-American Development Bank, the Andean Development Corporation, other multilateral development banks determined by the Superintendence, companies in the financial or insurance systems of the country and abroad, instrumented through bonds, guarantees, surety policies, or other similar guarantees, or that have coverage from a guarantee fund constituted by Law, or with the risk coverage provided by the MIVIVIENDA S.A. Fund that is applicable and in force in accordance with the rules established by said Fund, which meet the requirements for the application of credit counterparty substitution, the counterparty risk corresponds to the provider of the guarantee, and the limit is computed based on said provider.

Article 37.- Limits applicable to Level 2 Coopac

37.1 Level 2 Coopac are subject to the following limits:

The total amount of financing granted to a member or group of members including Coopac, directly or indirectly, that represent single risk in accordance with the provisions established in Article 203 of the General Law and the Special Norms on Linkage and Economic Group approved by Resolution SBS No. 5780-2015, cannot exceed thirty percent (30%) of the Coopac's effective equity, and the sublimits contemplated in items 2 and 5, as well as what is established in Article 40, must also be taken into account.
Incise modified by Resolution SBS No. 2926-2025 published on August 21, 2025. Subsequently modified by Resolution SBS No. 1873-2026 published on July 17, 2026.
The total amount of financing granted to a member or group of members that do not constitute Coopac, directly or indirectly, or worker, cannot exceed ten percent (10%) of the Coopac's effective equity. The provisions on single risk linkage established in Article 203 of the General Law and the Special Norms on Linkage and Economic Group approved by Resolution SBS No. 5780-2015 apply for this purpose.
The holding of shares that are traded in any centralized trading mechanism and participation certificates in Mutual Funds and Investment Funds cannot exceed fifteen percent (15%) of the effective equity. The total contributions or acquisition of shares or participations in other cooperatives or entities whose purpose is to provide services to members or have compatibility with their corporate object must not exceed fifty percent (50%) of their effective equity.
The acquisition of movable or immovable assets, added to those already existing, necessary for the development of their activities, cannot exceed together one hundred percent (100%) of their effective equity.
Financing granted directly or indirectly to another Coopac, member or not, and deposits constituted in it or in a company in the financial system, added to the guarantees, bonds, and other guarantees received from said Coopac or said company in the financial system, cannot exceed twenty percent (20%) of the effective equity. In the case of Central Cooperatives, it cannot exceed thirty percent (30%) of the effective equity.

37.2 When financing has the subsidiary liability of central governments and their agencies, central banks, the International Monetary Fund, the Inter-American Development Bank, the Andean Development Corporation, other multilateral development banks determined by the Superintendence, companies in the financial or insurance systems of the country and abroad, instrumented through bonds, guarantees, surety policies, or other similar guarantees, or that have coverage from a guarantee fund constituted by Law, or with the risk coverage provided by the MIVIVIENDA S.A. Fund that is applicable and in force in accordance with the rules established by said Fund, which meet the requirements for the application of credit counterparty substitution, the counterparty risk corresponds to the provider of the guarantee, and the limit is computed based on said provider.

Article 38.- Limits applicable to Level 3 Coopac

Level 3 Coopac are subject, in addition to the limits contemplated in the previous article, to the following: Operations with derivative financial products cannot exceed five percent (5%) of the effective equity. For the calculation of this limit, the numerator is considered the absolute value of the minimum resulting between zero (0) and the sum of fair values of all positions in derivative financial products registered for trading, and as the denominator, the last effective equity remitted by the Coopac and without observations from the supervisor.

Article 39.- Breach of global limit

The Coopac that does not comply with the global limit established in paragraph 31.2 of Article 31 must deposit all increases in the level of its deposits in a special account in a Level 3 Coopac or Central that has a risk classification of B or better and has reached the final corresponding percentages established in the Second and Third Supplementary Transitional Provisions, or in a company in the financial system that has a risk classification of B or better. These deposits are maintained as long as the limit is not met. Use of the funds maintained in the aforementioned deposits can only be made with prior authorization from the
19. Incise modified by Resolution SBS No. 2926-2025 published on August 21, 2025. Subsequently modified by Resolution SBS No. 1873-2026 published on July 17, 2026.

Superintendence. Coopacs must consider the gradualism established in the Third Complementary Transitory Provision of this Regulation.

Article 40.- Excesses of individual limit
40.1 Exceptionally, Coopacs may exceed the limit referred to in item 2 of paragraph 36.1 of Article 36 and paragraph 37.1 of Article 37, up to the equivalent of fifteen percent (15%), provided that, for at least an amount equivalent to the excess over the limit, there is a first mortgage on real estate considered as a preferred guarantee, a first-rank movable guarantee on securities and means of transport considered as preferred guarantees, and warrants on products and goods of easy realization considered as preferred guarantees, as well as warrants on commodities considered as very fast realization preferred guarantees, duly endorsed in accordance with the Law.

40.2 Exceptionally, Coopacs may exceed the limit referred to in item 2 of paragraph 36.1 of Article 36 and paragraph 37.1 of Article 37 and the limit referred to in the previous paragraph, up to the equivalent of twenty percent (20%), provided that, for at least an amount equivalent to the excess over said limits, there is a first-rank movable guarantee on securities considered as very fast realization preferred guarantees.

40.3 Exceptionally, Coopacs may exceed the limit referred to in item 2 of paragraph 36.1 of Article 36 and paragraph 37.1 of Article 37 and the limits referred to in the previous paragraphs, up to the equivalent of thirty percent (30%), provided that, for at least an amount equivalent to the excess over said limits, there are cash deposits in national and foreign currency made in the lending Coopac and subject to a movable guarantee constituted in accordance with the Law.

40.4 For the mortgages and movable guarantees referred to in the previous items to be eligible, they must be registered in the corresponding registry. In the case of cash deposits in national and foreign currency made in the lending Coopac, if such deposits are not registered, a discount of 0.5% is applied to the value of such deposits.

40.5 For the purposes of applying this article, higher-ranking guarantees may substitute for lower-ranking ones in the corresponding percentages.

Article 41.- Prohibitions
Coopacs are subject to the following prohibitions, without prejudice to others contained in the General Law (LGC) and other provisions issued regarding this matter:

Granting credits to finance political activities.
Granting credits with the purpose of allocating them to pay, directly or indirectly, contributions to the same Coopac.
Issuing bonds or backing obligations of their members, for an indefinite amount and/or term.
Guaranteeing loan operations carried out between third parties, unless one of them is another Coopac.
Credits that a Coopac grants to its directors and employees, as well as to their spouses, those in de facto unions with them, and relatives up to the fourth degree of consanguinity and second degree of affinity who are also members, cannot be granted under more favorable conditions than those granted to other members of the Coopac.
Granting credits in which the members' contributions constitute, directly or indirectly, the guarantee, as well as applying such contributions to the compensation or cancellation (partial or total) of obligations of members who maintain their status as such in the Coopac. 20
Others expressly indicated by the Superintendence. 21

SUBCHAPTER IV
CREDIT AND GUARANTEE MANAGEMENT

Article 42.- Credits and guarantees 22
42.1 The credits granted by Coopacs must be subject to a credit regulation containing the policies and procedures to evaluate and grant a credit. The aforementioned regulation must include, among other aspects, the requirements, conditions, and approval levels of the credits, as well as the types of guarantees that can be received. This regulation must comply with what is established in this article based on the level of the Coopac in question, be approved by the Board of Directors, and be available to the Superintendence for the supervision purposes it deems pertinent.

42.2 The credits granted by Level 1 Coopacs and Level 2 Coopacs with total assets equal to or less than 32,200 UIT, as well as the guarantees received for said credits, are subject to the provisions established in Annex 1 "Criteria for the Evaluation and Classification of the Debtor and the Requirement of Provisions applicable to Level 1 and 2 Coopacs" attached to this Regulation. While lands in general and urban plots in populated centers are not insured by insurance companies, the requirement to have insurance to consider the guarantee as preferred is not mandatory, taking into account the procedure established by the Superintendence for the application of this exception.

42.3 The credits granted by Level 2 Coopacs with total assets greater than 32,200 UIT and Level 3 Coopacs, as well as the guarantees received for said credits, are subject to the provisions established in 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. While lands in general and urban plots in populated centers are not insured by insurance companies, the requirement to have insurance to consider the guarantee as preferred is not mandatory, taking into account the procedure established by the Superintendence for the application of this exception.

42.4 Additionally, Level 2 Coopacs with total assets greater than 32,200 UIT and Level 3 Coopacs are subject to the provisions established in the Credit Risk Management Regulation approved by Resolution SBS No. 3780-2011.

Article 43.- Adjudicated or received-in-payment assets
43.1 As a consequence of the payment of a debt, Coopacs may receive or adjudicate in payment, total or partial, movable or immovable assets.

43.2 In the case of Level 1 Coopacs, such assets must be valued at the net realization value, determined following the guidelines established in Annex 1.

43.3 In the case of Level 2 and 3 Coopacs, such assets are subject to the Regulation for the Treatment of Adjudicated and Recovered Assets and its Provisions approved by Resolution SBS No. 1535-2005 and its amendments.

20 Item replaced by Resolution SBS No. 1873-2026 published on July 17, 2026.
21 Item incorporated by Resolution SBS No. 1873-2026 published on July 17, 2026.
22 Article replaced by Resolution SBS No. 2980-2020 of November 27, 2020.

SUBCHAPTER V
LIQUIDITY MANAGEMENT

Article 44.- Maturity matching
Coopacs must maintain an adequate correspondence between the terms of their active and passive operations. This correspondence must also be applied with respect to their positions in foreign currency.

Article 45.- Liquidity ratios
45.1 Level 1 Coopacs that capture deposits from their members must maintain, at all times, available funds at a level compatible with the nature of their operations.

45.2 Level 2 Coopacs that capture deposits from their members must calculate monthly, and Level 3 Coopacs that capture deposits from their members must calculate daily, the following liquidity ratios:

National currency liquidity ratio (RLMN): calculated on monthly balances or daily balances, as applicable, as indicated in Articles 46 and 47:
Foreign currency liquidity ratio (RLME): calculated on monthly balances or daily balances, as applicable, as indicated in Articles 46 and 47:

45.3 Additionally, in the event that Level 3 Coopacs that capture deposits from their members wish to carry out Level 3 operations, they may request the corresponding authorization and, from the granting of said authorization, must calculate daily the following liquidity coverage ratios, corresponding to the minimum RCL percentage of the row "January 2029 onwards" indicated in the table of the Twelfth Complementary Transitory Provision of this Regulation 23:

45.4 The RCL in national and foreign currency are applicable to all Level 3 Coopacs that capture deposits from their members starting from January 1, 2024, and must comply with the minimum RCL percentages according to the adaptation timeline indicated in the table of the Twelfth Complementary Transitory Provision of this Regulation. 24

23 Paragraph replaced by Resolution SBS No. 3178-2023, published on September 27, 2023.
24 Paragraph replaced by Resolution SBS No. 3178-2023, published on September 27, 2023.

Article 46.- Liquid assets
46.1 For the calculation of liquidity ratios, the following concepts must be considered as liquid assets, taking into account the operations the Coopac is authorized to carry out, as well as their accrued yields:

Cash
Available funds in Coopacs and in companies of the national financial system
Available funds in first-category banks abroad
Net active inter-cooperative funds
Debt securities issued by the Central Reserve Bank of Peru (BCRP)
Debt securities issued by the Central Government
Negotiable deposit certificates and bank certificates issued by companies of the national financial system
Public debt securities and those of the financial and insurance systems abroad, rated as investment grade by at least one risk rating agency to the satisfaction of the Superintendence, and that trade in centralized negotiation mechanisms
Others determined by the Superintendence through general rules

46.2 For the determination of liquid assets, the following restrictions must be taken into account:

Debt securities classified as held-to-maturity investments must not be considered, except for those issued by the BCRP or by the Central Government.
Assets subject to or delivered in repo operations must not be included.

Article 47.- Short-term liabilities
47.1 For the calculation of liquidity ratios, the following concepts must be considered as short-term liabilities, taking into account the operations the Coopac is authorized to carry out, as well as the associated interest payable:

Demand obligations
Obligations with tax collection institutions
Net passive inter-cooperative funds
Obligations for savings accounts
Obligations for time deposits, when maturity occurs within the next three hundred sixty (360) days, excluding the balance of CTS deposits
Debts and financial obligations with institutions in the country, with a residual maturity of up to three hundred sixty (360) days
Debts and financial obligations with institutions abroad, with a residual maturity of up to three hundred sixty (360) days
Securities, titles, and obligations in circulation whose maturity occurs within the next three hundred sixty (360) days
Others determined by the Superintendence through general rules.

47.2 For the determination of short-term liabilities, item 8 of the previous paragraph must consider the amounts of securities, titles, and obligations in circulation issued by the Coopac on which there are commitments or options for early redemption in favor of the investor or holder of the securities, whose terms or exercise dates, respectively, are included in the next three hundred sixty (360) days.

Article 48.- Regulatory liquidity limits
Level 2 and 3 Coopacs that capture deposits from their members must comply with the following limits for the ratios defined in Article 45:

a) RLMN ≥ 8%. b) RLME ≥ 20%. c) RCLMN ≥ 100% and RCLME ≥ 100%.

SUBCHAPTER VI
INVESTMENTS

Article 49.- Investments
Coopacs must adhere, insofar as it is pertinent considering the authorized operations and taking into account the equity requirements and limits applicable to them, to what is established in the Regulation for the Classification and Valuation of Investments of Financial System Companies, approved by Resolution SBS No. 7033-2012 and its amendments; in the Standards for Investment in Instruments Traded Through Non-Centralized Negotiation Mechanisms, approved by Resolution SBS No. 964-2002 and its amendments; and in the Regulation for Repo Operations applicable to Financial System Companies, approved by Resolution SBS No. 5790-2014.

CHAPTER VI
MISCELLANEOUS PROVISIONS

Article 50.- Bank secrecy
50.1 The provisions on "bank secrecy" established in Articles 140 to 143-A of the General Law, as well as the norms issued by the Superintendence regarding this matter, are applicable to Coopacs.

50.2 Such provisions are also applicable to the directors and employees of the Federation or other cooperative bodies of a higher degree, when acting as technical collaborators, in accordance with what is established in item 2 of the Twenty-Fourth Final and Complementary Provision of the General Law.

Article 51.- Transparency
In the advertising that Coopacs carry out regarding their operations and services, they must clearly indicate that they do not capture public funds, that they are registered in the Coopac Registry, if they have accessed the Cooperative Deposit Insurance Fund (FSDC), and if the deposits of their members are already covered by the FSDC. Coopacs must observe the regulations on this matter issued by the Superintendence.

Article 52.- Offices
52.1 Coopacs may have a main office, branches, and other offices.

52.2 Coopacs must request prior authorization from the Superintendence for the opening, relocation, and definitive closure of branches and offices outside the region where their main office is located, indicating their exact location and address and attaching a copy of the Board of Directors' agreement. In the case of opening, they must additionally attach an economic feasibility profile with the minimum content indicated in the following paragraph. In the case of branches, a declaration of compliance with the requirements established for this purpose in the legislation of the host country must also be attached. For offices established within the region where the main office is located, prior authorization is not required and notification is sent to the Superintendence in accordance with Annex 2 indicated in paragraph 52.4. For the purposes of what is stated in this article, the regions of Lima and Callao are considered as one.

52.3 The economic feasibility profile must contain as a minimum the following information:

Geographic influence area of the proposed branch or office outside the region where the main office is located. The location and address where the branch or office will operate outside the region where the main office is located are also indicated.
Total population and economically active population of the operating zone.
Market analysis for the last two (02) years, as well as an estimate of the proposed branch or office's market share outside the region where the main office is located.
Operations and/or services intended to be offered, as well as specifying the IT and accounting support for the new services and/or products.
Functional organizational chart and personnel needs table, indicating the organizational dependency of the branch or office outside the region where the main office is located.
Financial statement projections, profitability calculation, and break-even point.
Security measures adopted for the branch or office outside the region where the main office is located, in accordance with the risk of the operations performed.

52.4 Within seven (7) days of the opening, relocation, conversion, or definitive closure of the offices, Coopacs must report to the Superintendence the format as Annex 2 "Office Movement" attached to this Regulation in accordance with the mechanisms established by the Superintendence.

52.5 Coopacs must send to the Superintendence within the first thirty (30) days of January of each year an inventory of offices in operation as of the end of the previous fiscal year, starting from the 2020 fiscal year, in accordance with the format as Annex 3 "Inventory of Offices in Operation" attached to this Regulation in accordance with the mechanisms established by the Superintendence.

52.6 In cases of merger by absorption or constitution of a new Coopac, the new Coopac or the absorbing Coopac must send within fifteen (15) days of the merger occurring, the list of offices, type, and location in effect resulting from the merger.

52.7 Installations that have the exclusive function of providing promotion and information services regarding operations for which the Coopac is authorized and/or collecting documentation related to these, with the Coopac being responsible for the received documentation, do not constitute a type of office. No type of operation can be carried out in these installations. The Superintendence may request the list, location, and characteristics of these installations, using the formats established for this effect.

Article 53.- Document retention
53.1 Coopacs are obligated to keep their books and documents for a period of no less than ten (10) years. If within that period, a judicial action is promoted against them, the aforementioned obligation persists for as long as the process lasts, with respect to all documents related to the disputed matter.

53.2 For the purposes of what is provided in this article, the use of microarchiving services or other analogous means may be made, applying the law on the matter.

Article 54.- Member registry 25
54.1 COOPACs must present their registry of eligible members or delegates updated, with information up to the thirtieth (30) day of the months of March, June, September, and December of each year. Such information must be presented to the Superintendence within twenty (20) days following the aforementioned dates. In the event that there are no changes in some of the data of the aforementioned registry, COOPACs may send a sworn declaration, signed by the President of the Board of Directors and the Manager of the COOPAC, stating that no data in the registry has varied.

54.2 The member or eligible delegate registry sent by COOPACs must be presented by their legal representative, and sent in physical (printed) and digital (XLS file) format, considering the following minimum fields:

CSOCIO Member Code Internal member code. No empty records allowed. No identical records allowed.
TID Document Type 1: DNI; 2: Foreigner ID Card; 3: FFPP; 4: FFAA; 5: Passport; 6: RUC; 7: DNI of Legal Representative of Corporate Member.
NID Document Number No empty records allowed. No identical records allowed.
NCL Member Name No empty records allowed. No identical records allowed.
CONDSOCIO Member or delegate status 1: Eligible member (for COOPACs with up to 1000 eligible members, according to conditions established in their Statute); 2: Eligible delegate (for COOPACs with more than 1000 eligible members, according to conditions established in their Statute).
CODOFICINA Coopac Office Code The Coopac office to which the member belongs. No empty records allowed.
OFICINA Coopac Office Name The Coopac office to which the member belongs. No empty records allowed.
FINGRESO Last entry date of the eligible member or delegate to the COOPAC No empty records allowed.
APORTES Total balance of contributions expressed in MN No empty records allowed.
DIRECCIÓN Home address of the member No empty records allowed.
TELEFONO Member's phone/mobile No empty records allowed.
CORREO Member's email No empty records allowed.

COMPLEMENTARY FINAL PROVISIONS

FIRST.- Central Organizations
The norms contained in this Regulation also govern, insofar as pertinent, for Central Organizations.

SECOND.- Capture of savings deposits, time deposits, CTS, or demand deposits from members In the case of Coopacs constituted after the entry into force of the Coopac Law, they may only capture deposits from their members if they are registered in the Coopac Registry and in the Cooperative Deposit Insurance Fund (FSDC).

of Cooperative Deposit Insurance.

Regarding Coopac constituted before the entry into force of the Coopac Law, they may continue to capture deposits from their members, but must request their registration in the Coopac Registry within a maximum period of ninety (90) days counted from the entry into force of the Coopac Law, and within a period of one (1) year counted from their registration in the Coopac Registry, they must join the Cooperative Deposit Insurance Fund. If they fail to join the Cooperative Deposit Insurance Fund within the aforementioned one (1) year period, they must immediately suspend the capture of new deposits, and within a maximum period of thirty (30) days, counted from said suspension, submit to the Superintendency a plan for the return of the deposits they hold.

If, after thirty (30) days of submitting the deposit return plan to the Superintendency, it has not been approved and this is attributable to the Coopac because it fails to meet the requirements established by the Superintendency, they will be excluded from the Coopac Registry. The same will occur in the case that the conditions established in the plan approved by the Superintendency are not met.

THIRD.- Exclusive and Excluding Deposit Capture Activity for Coopac

Multiple service cooperatives and other cooperatives other than Coopac, which on the date of publication of the Coopac Law were carrying out deposit capture operations from their members, must cease capturing new deposits from that date. Additionally, they have a period of ninety (90) days, counted from the entry into force of the aforementioned law, to adapt and transform into Coopac, modifying their Bylaws and making the change in Public Registries, as well as requesting their registration in the Coopac Registry.

Upon expiration of said period without carrying out the adaptation and conversion to Coopac, they are considered irregular cooperatives and the measures indicated in numerals 10.3, 10.4 and 10.5 of the Twenty-Fourth Final and Complementary Provision of the General Law apply to them.

FOURTH.- Authorization to sell credit portfolio when applicable, and to issue and administer debit cards for Coopac constituted before the entry into force of the Coopac Law that can perform Level 1 operations, as well as authorization to sell credit portfolio when applicable, issue and administer debit cards, contract foreign currency forwards for hedging purposes, for the purchase of credit portfolio when applicable, for the issuance of subordinated debt instruments redeemable computable in supplementary effective equity, and to issue and administer credit cards for Coopac constituted before the entry into force of the Coopac Law that can perform Level 2 operations.

To obtain the authorization to sell credit portfolio when applicable, and to issue and administer debit cards for Coopac constituted before the entry into force of the Coopac Law that can perform Level 1 operations, as well as to obtain the authorization to sell credit portfolio when applicable, issue and administer debit cards, contract foreign currency forwards for hedging purposes, for the purchase of credit portfolio when applicable, for the issuance of subordinated debt instruments redeemable computable in supplementary effective equity, and to issue and administer credit cards for Coopac constituted before the entry into force of the Coopac Law that can perform Level 2 operations, they must follow the procedure established in article 23 applying it in this case only to the operations in question.

FIFTH.- Effective Supervision

A Coopac is considered to have been under the effective supervision of the Federation, referred to in the Third Transitional Complementary Provision of the Coopac Law, is that Coopac that on the date of publication of the Coopac Law complied with the following:

Having timely presented monthly and quarterly financial statements, as applicable, to the Federation for the years 2016, 2017 and 2018. Regarding Coopac constituted after 2016, if they have presented financial statements timely since their constitution; and
Not having refused or impeded the carrying out of an inspection visit by the Federation.

SIXTH.- Inspections

The supervision requirements for Coopac are based on a modular scheme. In this sense, when deemed necessary, the Superintendency carries out, without prior notice, directly or, when applicable, through the technical collaborator, general and special inspections aimed at examining the situation of the Coopac, determining the content and scope of the aforementioned inspections based on the modular scheme and the risk profile.

SEVENTH.- Continuity of application of specific regulations for Coopac

The Internal Audit Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by SBS Resolution No. 742-2001, the External Audit Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by SBS Resolution No. 741-2001, and the Integrated Risk Management Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by SBS Resolution No. 13278-2009 continue in force for Coopac, with the following clarifications:

The word “Federation” is replaced by “Superintendency” throughout the regulation.
The reference to numerals 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 Superintendency of Banking, Insurance and Private Pension Fund Administrators - Law No. 26702 and its amendments, is considered not included, unless in the amendment of the aforementioned final and complementary provision carried out by Coopac Law No. 30822, the same content is regulated in a different numeral, in which case, it is understood to refer to this one.
The reference to numerals of the “Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds” approved by SBS Resolution No. 540-99, is considered not included, unless in the present regulation the same content is regulated in a different numeral, in which case, it is understood to refer to this one.
Replace the second and third paragraphs of numeral 10 of the Integrated Risk Management Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds, with the following:

“For Coopac of Level 3 and Level 2 with total assets greater than 32,200 UIT, the constitution of a risk committee is mandatory. In Level 2 Coopac with total assets equal to or less than 32,200 UIT, the constitution of a risk committee is optional, its functions being able to be assumed by the Board of Directors. The Superintendency may require the creation of a risk committee for Level 2 Coopac with total assets equal to or less than 32,200 UIT when it observes in the exercise of supervision actions that risk management is complex or the criteria provided for in current regulations are not met.

In Level 1 Coopac, all functions attributed to the risk committee are assumed by the Board of Directors.”

Replace the second and third paragraphs of numeral 14 of the Integrated Risk Management Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds, with the following:

“For Coopac of Level 2 and 3, the constitution of a risk unit is mandatory. In Level 1 Coopac, all functions attributed to the risk unit are assumed by the General Management. Level 2 Coopac with total assets equal to or less than 32,200 UIT may opt to attribute the functions of the risk unit to the General Management.”

Eliminate numeral 21 of the Integrated Risk Management Regulation for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds, as well as the reference to the General Assembly in letter G of the same Regulation.

EIGHTH.- Irregular Acts

“Irregularities in the operation of the Coopac” referred to in numeral 2.6 of the Twenty-Fourth Final and Complementary Provision of the General Law, refers to acts of its directors, managers, and main officials, contrary to what is established in the regulations issued by the Superintendency applicable to Coopac and in the Bylaws of the Coopac after the adaptation period.

These irregular acts must be supported by documentary evidence presented along with the complaint regarding said irregularities to the Superintendency.

NINTH.- Sanctions

Non-compliance with what is established in this Regulation is subject to the sanctions established in the Annex of the Regulation of Infractions and Sanctions of the Superintendency of Banking, Insurance and Private Pension Fund Administrators applicable to Coopac.

TENTH.- Scope of Competence of the Superintendency

The Superintendency exercises, within the scope of its powers established in the General Law, the control and supervision of Coopac exclusively in the aspects that correspond to it.

ELEVENTH.- Coopac presenting Financial Instability

In application of the power established in numeral 4-A of the Twenty-Fourth Final and Complementary Provision of the General Law, regarding Coopac that present financial instability, the Superintendency may determine the real equity and, if applicable, require equity adjustments it deems pertinent, charged to reserves and social capital. Likewise, the Superintendency may request members to make extraordinary cash contributions immediately and/or capitalization of debts. Furthermore, for up to a period of six (6) months renewable for another equal period, the Superintendency is empowered to prohibit such Coopac from carrying out one or more types of operations.

TWELFTH.- Application of Special Norms on Linkage and Economic Group

For the purposes of applying the Special Norms on Linkage and Economic Group approved by SBS Resolution No. 5780-2015 to Coopac, persons linked to the Coopac must be considered as those who make up the economic group of this, as well as its directors, managers, and main officials.

THIRTEENTH.- Application of Regulation to operations with workers

The norms contained in this Regulation also govern, insofar as pertinent, operations with workers of the Coopac, according to what is established in numeral 3 of article 17 of the LGC.

TRANSITORY COMPLEMENTARY PROVISIONS

FIRST.- Modification of the Federation's Bylaws

The Federation must modify its Bylaws to adapt to the Coopac Law within sixty (60) days following the entry into force of this Regulation.

SECOND.- Schedule for 100% Adequacy to Required Provisions 26 27 28 29

Level 1 Coopac and Level 2 Coopac with total assets equal to or less than 32,200 UIT have a gradual schedule for the constitution of one hundred percent (100%) of the required provisions in article 42, according to the following table: 30

Date % of Required Provisions
By December 31, 2024 50%
By December 31, 2025 55%
By December 31, 2026 60%
By December 31, 2027 70%
By December 31, 2028 85%
By December 31, 2029 100%

Level 2 Coopac with total assets greater than 32,200 UIT and Level 3 Coopac have a gradual schedule for the constitution of one hundred percent (100%) of the required provisions in article 42, according to the following table: 31

Date % of Required Provisions
By December 31, 2024 60%
By December 31, 2025 65%
By December 31, 2026 70%
By December 31, 2027 80%
By December 31, 2028 90%
By December 31, 2029 100%

While a Coopac has not constituted 100% of the required provisions in article 42, nor has it reached the gradual cooperative reserve levels established in the Eleventh Transitory Complementary Provision, it cannot request the authorizations mentioned in articles 22, 23, 24 and 25, as applicable, nor distribute surpluses. Likewise, while Coopac that have authorization to perform operations corresponding to Level 2 have not constituted 100% of the required provisions in article 42, any credit portfolio purchase referred to in numeral 8 of paragraph 20.1 of article 20 of this Regulation, must have prior approval from this Superintendency, even if the credit portfolio is acquired from an unaffiliated person, or the transferor is a supervised company. For this purpose, what is established in the Credit Portfolio Transfer and Acquisition Regulation, approved by SBS Resolution No. 1308-2013 and its amendments, applies with respect to the rules governing the authorization procedure.

The provisions that Coopac have constituted or will constitute cannot be reversed, except those that have been constituted voluntarily and do not come from reassignment of provisions.

In case a Coopac has obtained an authorization to perform new operations under the condition of complying with one hundred percent (100%) of the required provisions, it must maintain said level of compliance.

While a Coopac has not constituted one hundred percent (100%) of the required provisions by article 42, it must annually allocate no less than fifty percent (50%) of the year's surpluses to the constitution of the cooperative reserve, without prejudice to the Assembly establishing a higher percentage.

THIRD.- Gradual Schedule for Adequacy to the Global Limit Contemplated in Article 31

32 33

Coopac have a gradual schedule for adequacy to the global limit contemplated in paragraph 31.2 of article 31, according to the following table:

Date Global Limit Coopac Level 1 and Coopac Level 2 with total assets less than or equal to 32,200 UIT Global Limit Coopac Level 2 with total assets greater than 32,200 UIT and Coopac Level 3 By December 2022 5% 6% By December 2023 6% 7% By December 2026 7% 8% By December 2027 9% 9% By December 2028 10% 10%

Coopac have a gradual schedule for adequacy to the basic equity limit contemplated in paragraph 31.3 of article 31, according to the following table:

Date Basic Equity for Coopac Level 1 and Coopac Level 2 with total assets less than or equal to 32,200 UIT Basic Equity for Coopac Level 2 with total assets greater than 32,200 UIT and Coopac Level 3 By December 2022 3.75% 4.50% By December 2023 4.50% 5.25%

32 Provision replaced by SBS Resolution No. 1561-2020 of June 11, 2020.
33 Provision replaced by SBS Resolution No. 458-2025, published on February 11, 2025.

By December 2026 5.25% 6.00%
By December 2027 6.75% 6.75%
By December 2028 7.50% 7.50%

FOURTH.- Coopac that at the publication of this Regulation perform operations or services for which Superintendency authorization is required 34

Coopac that at the publication of this Regulation perform operations or services for which Superintendency authorization is required, may maintain said operations or services until their original expiration, but cannot increase their amounts nor carry out new operations or services.

Regarding the issuance of debit cards, a deadline until December 31, 2021 is granted for Coopac that prior to the publication of this Regulation have issued debit cards, to submit their request to obtain the Superintendency's authorization for the performance of this operation. During the course of the evaluation process, the aforementioned Coopac may continue to issue said cards. From January 1, 2022, Coopac that prior to the publication of this Regulation have issued debit cards and have not submitted their authorization request for the performance of said operation must cease doing so.

FIFTH.- Coopac that at the publication of this Regulation exceed the limit established in paragraph 26.2 of article 26

Coopac that at the publication of this Regulation exceed the limit contemplated in paragraph 26.2 of article 26 must submit an adaptation plan to said limit for Superintendency approval, within a period not exceeding thirty (30) days of the publication of this Regulation. The aforementioned plan must have a maximum period of two (2) years. The plan to be submitted to the Superintendency must expressly state that its non-compliance implies the exclusion of the Coopac from the Registry, must be approved by the Board of Directors and presented in the Assembly prior to its submission to the Superintendency, the latter supported by the corresponding minutes of the Assembly.

The plan approved by the Superintendency must be presented in the Assembly. The latter is supported by the corresponding minutes of the Assembly.

Upon expiration of the period approved by the Superintendency without the Coopac having adapted to comply with the limit contemplated in paragraph 26.2 of article 26, the Coopac is sanctioned with exclusion from the Coopac Registry.

SIXTH.- Offices existing at the publication of this Regulation

The offices with which Coopac are equipped at the publication of this Regulation must be reported by the Coopac to the Superintendency within a maximum period of thirty (30) days counted from the entry into force of this Regulation in the format attached as Annex 3 “Inventory of Offices in Operation” to this Regulation.

SEVENTH.- Adaptation of Bylaws of Coopac constituted before the entry into force of the Coopac Law

Coopac constituted before the entry into force of the Coopac Law must adapt their Bylaws to what is established in current regulations. Within a period not exceeding one (1) year, counted from their registration in the Coopac Registry, they must submit the Bylaws to the Superintendency for review and approval.

EIGHTH.- Procedure for lifting impediments identified at the registration of Coopac constituted before the entry into force of the Coopac Law

What is established in paragraphs 16.3 to 16.9 of article 16 applies in the case established in item ix of numeral 1 of paragraph 5.1 of article 5 of the Regulation for the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and of the Central, when the period of one hundred eighty (180) days and, exceptionally, the granted extension has expired.

NINTH.- Assets adjudicated, recovered or received in payment of Level 1 Coopac

In case at the entry into force of this Regulation, the Level 1 Coopac has constituted provisions in excess, it may reverse the excess to reach the net realization value of assets adjudicated, recovered or received in payment, against the cooperative reserve.

TENTH.- Application of external alignment 35 36 37

In compliance with the Fifth Transitory Complementary Provision of the Coopac Law, from the seventh year counted from the entry into force of Law No. 30822, what is established in article 159 of the General Law regarding supplying relevant information to the Risk Central applies to Coopac. From information corresponding to the month of December 2027, Level 2 Coopac with total assets greater than 32,200 UIT and Level 3 Coopac are obliged to carry out the alignment process between them, under the rules contained in the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, approved by SBS Resolution No. 11356-2008 and its amendments, applicable to Coopac. Without prejudice to this, the Superintendency requests credit information from Coopac that it deems pertinent for supervision purposes.

ELEVENTH.- Gradual Schedule for Adequacy for the Constitution of the Cooperative Reserve 38 39 40

Coopac have a gradual schedule for adequacy for the constitution of the cooperative reserve contemplated in article 28, which does not consider the revaluation surplus, according to the following table:

Date Level 1 Level 2 Level 3
By December 2022 10% 20% 30%
By December 2023 12% 22% 32%
By December 2026 14% 24% 34%
By December 2027 15% 25% 35%

TWELFTH.- Gradual Schedule for Adequacy for the Liquidity Coverage Ratio (LCR) 41 42 43

An adaptation period is available to comply with what is established in letter c) of article 48,

35 Provision replaced by SBS Resolution No. 2980-2020 of November 27, 2020.
36 Provision replaced by SBS Resolution No. 3178-2023, published on September 27, 2023.
37 Provision replaced by SBS Resolution No. 2334-2025, published on July 03, 2025.
38 Provision replaced by SBS Resolution No. 1561-2020 of June 11, 2020.
39 Provision replaced by SBS Resolution No. 458-2025, published on February 11, 2025.
40 Provision replaced by SBS Resolution No. 2926-2025 published on August 21, 2025.
41 Provision replaced by SBS Resolution No. 1561-2020 of June 11, 2020.
42 Provision replaced by SBS Resolution No. 3178-2023, published on September 27, 2023.
43 Provision replaced by SBS Resolution No. 458-2025, published on February 11, 2025.

in accordance with the following schedule:

Period	Minimum RCL
January to December 2024	50%
January to December 2025	50%
January to December 2026	50%
January to December 2027	60%
January to December 2028	70%
January to December 2029	80%
January to December 2030	90%
January 2031 onwards	100%

THIRTEENTH. Submission of sworn statement corresponding to the year 2020 44

Regarding the obligation indicated in paragraph 16.2 of Article 16, directors, managers, and principal officials must exceptionally submit to the Superintendency, within a period not exceeding sixty (60) business days following the conclusion of the national state of emergency declared as a consequence of the Coronavirus (COVID-19) outbreak, the sworn statement corresponding, solely, to the year 2020, confirming they meet the requirements of moral suitability and are not subject to the impediments provided for in Article 6 of the Regulations of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Public Funds and Central Cooperatives.

FOURTEENTH. Calculation of one hundred percent (100%) of supplementary equity 45

Level 1, 2, and 3 Coopacs may calculate one hundred percent (100%) of their supplementary equity in effective equity until December 31, 2029.

FIFTEENTH. Exception for information included between December 2024 and the issuance of RESOLUTION SBS No. 00458-2025 46

Exceptionally, for requirements included between December 2024 and the issuance of Resolution SBS No. 00458-2025, the percentages contemplated in the Third and Eleventh Transitional Complementary Provisions corresponding to December 2023 remain applicable to Coopacs.

Article Two. Substitute Article 4 “Responsible for internal audit work” of the Internal Audit Regulations for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 742-2001, with the following text:

“Responsible for internal audit work

Article 4. The Supervisory Board is responsible for carrying out the minimum internal audit work indicated in Article 6 of these Regulations, through an Internal Audit Unit or an Internal Auditor, in the following cases:

a) Level 2 cooperatives that register total assets for amounts greater than thirty-two thousand two hundred Tax Unit Impositivas (32,200 UIT) and Level 3 cooperatives must have an Internal Audit Unit whose main function is the permanent evaluation of the functioning of the internal control system. Such unit depends organically and functionally from the Supervisory Board and reports periodically to said body.

b) Level 2 cooperatives that register total assets less than or equal to thirty-two thousand two hundred Tax Unit Impositivas (32,200 UIT) must have a full-time or part-time internal auditor in accordance with what is established in Article 10 of these Regulations. Level 1 cooperatives may assign the internal audit functions to the members of the Supervisory Board, choosing one of them as responsible for audit work; said member must meet the minimum requirements indicated in Article 11 of these Regulations. For these cases, the Superintendency, based on the magnitude and complexity of the operations and structure of the cooperative, may flex the requirements indicated in letters a) and b) of said article.”

Article Three 47 48 49 50

.- This regulation enters into force the day after its publication in the Official Newspaper El Peruano, from which date the Regulations of the Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 540-99 and its amendments, the Regulations for the Opening, Conversion, Transfer, and Closing of Offices of the Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 759-2007, as well as Resolution SBS No. 12321-2010, are without effect.

Coopacs that as of February 8, 2019, the date on which the General Regulations for Savings and Credit Cooperatives Not Authorized to Capture Public Funds enters into force, register excesses of the limits contemplated in paragraph 36.1 of Article 36, in paragraph 37.1 of Article 37, as well as in Articles 38 and 40, cannot increase the levels of exposure existing at that moment, and have until December 31, 2026, to adjust their exposures to comply with the aforementioned limits. 51

Likewise, Coopacs have until December 31, 2026, to comply with what is established in letters a) and b) of Article 48 regarding minimum liquidity ratios, as well as with what is established in paragraphs 43.2 and 43.3 of Article 43 regarding the treatment of assets adjudicated and received in payment of the General Regulations for Savings and Credit Cooperatives Not Authorized to Capture Public Funds.

On the other hand, Coopacs have until December 31, 2029, to comply with what is established in Article 49 of the General Regulations for Savings and Credit Cooperatives Not Authorized to Capture Public Funds, regarding the treatment of investments. 53

Additionally, Coopacs have until December 31, 2024, to comply with what is established in the Regulations for the Integral Risk Management for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 13278-2009, as well as with the provisions of the Credit Risk Management Regulations approved by Resolution SBS No. 3780-2011 that are applicable to Level 2 Coopacs with total assets greater than 32,200 UIT and Level 3 Coopacs, having to present to the Board of Directors semi-annual reports on their progress in the implementation of the aforementioned regulations. 54

Finally, Coopacs have until December 31, 2024, to adjust the capital contributions they have received prior to the entry into force of Resolution SBS No. 1285-2020, to what is established in paragraphs 27.1 and 27.2 of Article 27 of the General Regulations for Savings and Credit Cooperatives Not Authorized to Capture Public Funds.

SOCORRO HEYSEN ZEGARRA
Superintendent of Banking, Insurance, and Private Pension Fund Administrators

44 Provision incorporated by Resolution SBS No. 1561-2020 of June 11, 2020.
45 Provision incorporated by Resolution SBS No. 501-2024, published on February 9, 2024.
46 Provision incorporated by Resolution SBS No. 458-2025, published on February 11, 2025.

47 Article substituted by Resolution SBS No. 1561-2020 of June 11, 2020.
48 Article substituted by Resolution SBS No. 2980-2020 of November 27, 2020.
49 Article substituted by Resolution SBS No. 2570-2021 of September 2, 2021.
50 Article substituted by Resolution SBS No. 3178-2023 published on September 27, 2023.
51 Paragraph substituted by Resolution SBS No. 458-2025, published on February 11, 2025.
52 Paragraph substituted by Resolution SBS No. 458-2025, published on February 11, 2025.
53 Paragraph substituted by Resolution SBS No. 501-2024 published on February 9, 2024.

54 By Article Three of Resolution SBS No. 2490-2024, published on 15.07.2024, the following was ordered: “Coopacs have until December 31, 2025, to comply with what is established in the Regulations for the Integral Risk Management for Savings and Credit Cooperatives Not Authorized to Operate with Public Funds approved by Resolution SBS No. 13278-2009 and its amendments, as well as with the provisions of the Credit Risk Management Regulations approved by Resolution SBS No. 3780-2011 and its amendments that are applicable to Level 2 Coopacs with total assets greater than 32,200 UIT and Level 3 Coopacs, having to present to the Board of Directors semi-annual reports on their progress in the implementation of the aforementioned regulations”.

Resolution SBS No. 480-2019: Approval of the General Regulation for Savings and Credit Cooperatives Not Authorized to Capture Public Funds

Lineage: Superseded

Timeline