Regulatory Alerts2025-08-01 | Resolución SBS 02663-2025Added
SBS Resolution N° 02663-2025: Amends the Accounting Manual for Financial System Companies to harmonize accounting provisions with IFRS 9, IFRS 13, and IFRS 15
The Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS) modifies the Accounting Manual for Financial System Companies, approved by SBS Resolution N° 895-98. This resolution substitutes Chapters I and II, and extensively modifies Chapters III, IV, and V, including specific rubrics, accounts, and numerous annexes and reports, to align accounting provisions with International Financial Reporting Standards (IFRS) 9, 13, and 15, and IFRS 11. Financial system companies must adjust initial balances for 2027 to the new policies in January 2027, apply new impairment criteria for financial instruments to 2027 initial balances, and provide specific disclosures in quarterly and annual financial statements for 2027. The resolution generally takes effect from January 2027 information, with Article Sixth effective the day after publication, and Article Seventh effective from January 2027 information.