SBS Resolution No. 01873-2026: Amending the General Regulation of Savings and Credit Cooperatives Not Authorized to Capture Public Funds

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511)6309000 Lima, July 16, 2026

SBS RESOLUTION
No. 01873-2026

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, Law No. 30822 modified the General Law of the Financial System and the Insurance System and the Organic Law of the Superintendence of Banking and Insurance, Law No. 26702 and its modifying norms (hereinafter, General Law), replacing the Twenty-Fourth Final and Complementary Provision, referring to Savings and Credit Cooperatives Not Authorized to Capture Public Funds (hereinafter, 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 Private Pension Fund Administrators (hereinafter, Superintendence) issues the norms necessary for compliance with what is established in the aforementioned Final and Complementary Provision, as well as other aspects necessary for the supervision and regulation of Coopacs, which are consistent with the modular scheme contemplated in item 2 of said final and complementary provision. Likewise, it states that the norms issued by this Superintendence must respect the cooperative and proportionality principles applicable to supervision;

That, the General Regulation of Coopacs, approved by SBS Resolution No. 480-2019 and its modifying norms (hereinafter, Coopac Regulation), among other aspects, establishes provisions regarding the operating regime, limits and prohibitions applicable to Coopacs, with the aim of strengthening the prudential management of said entities;

That, in view of the legal nature of the members' contributions, which constitute the social capital of the Coopac and serve as backing against third parties, it is necessary to reinforce their intangibility in those cases where the member maintains said status, in order to preserve the financial stability of the Coopac and avoid its disintermediation through the improper use of said contributions to cover credit obligations of the member themselves. Indeed, in accordance with the Single Ordered Text of the General Law of Cooperatives, approved by Supreme Decree No. 001-2026-PRODUCE, the cancellation of the member's account and the eventual application of their contributions to the extinction of obligations occurs only as a consequence of the loss of their status as a member, which evidences that, while said status is maintained, it is not coherent to allow the encumbrance, charge or compensation of contributions; therefore, it is necessary to expressly incorporate within the

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511)6309000 prohibition regime of Article 41 of the Coopac Regulation the restriction on granting credits in which the members' contributions constitute collateral or are applied to the cancellation of debts during the validity of their status as members, thus contributing to strengthening the asset solidity of Coopacs and mitigating risks associated with inadequate credit practices;

That, additionally, insofar as Coopacs continue in a process of institutional strengthening and consolidation, in an environment characterized by the heterogeneity of their business models, their geographic location –including those operating in rural areas and with predominantly agricultural activity–, as well as by the need to progressively strengthen their technical capacities for comprehensive risk management and corporate governance, as well as to reinforce their equity levels, particularly in a national context that requires the adoption of measures to help reactivate the economy, it is necessary to make prudential adjustments in certain limits applicable to their operations and modify the gradual schedule for the constitution of provisions, in order to grant a reasonable period that allows them to progressively adapt to regulatory requirements, contributing to the strengthening of the system as a whole; consequently, it is necessary to modify the Second Complementary Transitional Provision, item 4 of paragraph 36.1 of Article 36 and item 4 of paragraph 37.1 of Article 37 of the Coopac Regulation;

Having the previous technical and positive feasibility report of the norm from the Adjunct Superintendence of Cooperatives and with the approval of the Adjunct Superintendencies of Cooperatives and of Regulation and Legal;

And

In exercise of the powers conferred in items 7, 9 and 13 of Article 349, as well as item 4-A of the Twenty-Fourth Final and Complementary Provision of the General Law, and based on what is provided in the Thirty-Second Final and Complementary Provision of the General Law;

RESOLVES:

Article First.- Modify the General Regulation of Savings and Credit Cooperatives Not Authorized to Capture Public Funds, approved by SBS Resolution No. 480-2019 and its modifying norms, in accordance with the following:

1. Item 4 of paragraph 36.1 of Article 36 is replaced, as follows:

“Article 36.- Limits applicable to Level 1 Coopacs
36.1 Level 1 Coopacs are subject to the following limits:
(...)
4. The acquisition of movable or immovable assets, added to those already existing, necessary for the development of their activities, may not exceed together one hundred (100%) of their effective equity.
(...)”

2. Item 4 of paragraph 37.1 of Article 37 is replaced, as follows:

“Article 37.- Limits applicable to Level 2 Coopacs
37.1 Level 2 Coopacs are subject to the following limits:
(...)

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511)6309000
4. The acquisition of movable or immovable assets, added to those already existing, necessary for the development of their activities, may not exceed together one hundred (100%) of their effective equity.
(...)”

3. Item 6 is replaced and item 7 is incorporated in Article 41, as follows:

“Article 41.- Prohibitions
Coopacs are subject to the following prohibitions, without prejudice to others contained in the LGC and other provisions issued on the matter:
(...)
6. Granting credits in which the members' contributions constitute, directly or indirectly, collateral, as well as applying said contributions to the compensation or cancellation (partial or total) of obligations of members who maintain their status as such in the Coopac.
7. Others expressly indicated by the Superintendence.”

4. The first and second paragraphs of the Second Complementary Transitional Provision are replaced, as follows:

“SECOND.- Schedule for adaptation to 100% of required provisions Level 1 and Level 2 Coopacs 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:

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

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

Date % of Required Provisions
As of December 31, 2024 60%
As of December 31, 2025 65%
As of December 31, 2026 70%
As of December 31, 2027 80%
As of December 31, 2028 90%
As of December 31, 2029 100%
(...)”

Article Second.- Modify Report 13 ‘Control of Individual Global Limits Applicable to Savings and Credit Cooperatives Not Authorized to Capture Public Funds’ of Level 1, Level 2 and Level 3 of Chapter V of the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Capture Public Funds, approved by SBS Resolution No. 577-2019 and its modifying norms, in accordance with the following:

1. Item 5 of Section I. Global Limits of Report 13 applicable to Level 1 Coopacs is replaced, as follows:

I. Global Limits (1)
Aspect Legal Basis Legal Limits Calculation
(...)
5. Investment in furniture and real estate.
General Regulation of Savings and Credit Cooperatives Not Authorized to Capture Public Funds Up to 100% of effective equity (3).
.......................% of the Coopac's effective equity.

2. Item 8 of Section I. Global Limits of Report 13 applicable to Level 2 Coopacs is replaced, as follows:

I. Global Limits (1)
Aspect Legal Basis Legal Limits Calculation
(...)
8. Investment in furniture and real estate.
General Regulation of Savings and Credit Cooperatives Not Authorized to Capture Public Funds Up to 100% of effective equity (3).
.......................% of the Coopac's effective equity.

3. Item 9 of Section I. Global Limits of Report 13 applicable to Level 3 Coopacs is replaced, as follows:

I. Global Limits (1)
Aspect Legal Basis Legal Limits Calculation
(...)
9. Investment in furniture and real estate.
General Regulation of Savings and Credit Cooperatives Not Authorized to Capture Public Funds Up to 100% of effective equity (3).
.......................% of the Coopac's effective equity.

Article Third.- This Resolution enters into force the day following its publication in the Official Journal El Peruano.

Register, communicate and publish.

SERGIO JAVIER ESPINOSA CHIROQUE
SUPERINTENDENT OF BANKING, INSURANCE AND AFP