SBS Resolution No. 11356-2008: Regulation for the Evaluation and Classification of the Debtor and Requirement of Provisions

Lima, November 19, 2008
S.B.S. Resolution
No. 11356 - 2008
The Superintendent of Banking, Insurance and
Private Pension Fund Administrators:
CONSIDERING:
That, the General Law of the Financial System and of the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its amendments, hereinafter General Law, establishes in its Article 222 that, in the evaluation of operations that integrate the credit portfolio, the debtor's cash flows, their income and debt service capacity, financial situation, net worth, future projects and other factors relevant to determine the capacity of service and payment of the debt must be taken into account; expressly stating that the basic criterion is the debtor's payment capacity and that guarantees are subsidiary; That, likewise, numeral 4 of Article 132 of the indicated Law General establishes as one of the means to mitigate the risks of the saver, the constitution of generic and specific provisions; That, through SBS Resolution No. 808-2003 of May 28, 2003 and its amendments, the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, hereinafter Regulation, was approved; That, the credit activity of companies in the financial system constitutes one of the fundamental activities that drive economic growth, resulting necessary to introduce modifications in the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, in order to prudentially adjust some parameters that allow greater dynamics in the financial sector, without prejudice to its security and transparency; Based on the opinions of the Deputy Superintendencies of Banking and Microfinance, Risks, Insurance and Legal Advice, as well as by the Management of Economic Studies; and, In use of the powers conferred by numerals 7, 9 and 13 of Article 349 of the General Law; RESOLVES:

First Article.-
Approve the new Regulation for the
Evaluation and Classification of the Debtor and the Requirement of Provisions, hereinafter Regulation, which forms
part of this Resolution. The new Regulation will enter into force from July 1, 2010,
date from which the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions approved through SBS Resolution No. 808-2003 and its norms amendments.
Second Article.- Amend from December 1,
2008 the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions approved through SBS Resolution No. 808-2003 and its amendatory norms, as follows:
a) Incorporate as the second paragraph of literal 1.4 of Chapter I "Concepts and Principles for the Evaluation and Classification of the Debtor" the following:
"Credits for the acquisition or construction of own housing that at the date of the operation, because they are future goods, goods in process of independization or goods in the process of registration of ownership, it is not possible to constitute on them the individualized mortgage that derives from the granted credit are also included in this category." b) Eliminate the Normal Category from Table 1, 2 and 3 of numeral 2.1 of Chapter III "Requirement of provisions" and incorporate the following table for credits classified in the Normal Risk Category:
Credit Types Provision
Rate
Commercial Credits 0.7%
MES Credits 1.0%
Consumer Credits 1.0%
Mortgage Credits for Housing 0.7% c) Eliminate numeral 2.2 of Chapter III "Requirement of provisions". d) Substitute numeral 2.3 of Chapter III "Requirement of provisions" with the following:
"Companies shall constitute the countercyclical provisions of the Normal Category according to
Annex I General Regime of Countercyclical Provisions."
e) Substitute Annex I "General Regime of Countercyclical Provisions" with the following:
"Annex I
GENERAL REGIME OF COUNTERCYCLICAL PROVISIONS
CHAPTER I
1 Article amended by SBS Resolution No. 14353-2009 of 10/30/2009.

GENERALITIES

Definitions
For the purposes of the provisions of this annex, the following definitions shall be considered:
a. BCRP: Central Reserve Bank of Peru. b. GDP: Real Gross Domestic Product of Peru published by the BCRP.
c. Countercyclical rule: Measure that causes an additional component to be added to the provision rate corresponding to the category
of Normal risk. Said component is activated according to what is indicated in numeral 1 of Chapter II of this Annex.
Countercyclical component of the provision rate of the Normal Category
The countercyclical component of provisions on direct and indirect credits and financial leasing operations of debtors classified in Normal category shall be constituted when the countercyclical rule is activated. The minimum rates of the component countercyclical for each type of credit are the following:
Credit Types component countercyclical
Commercial Credits 0.45%
MES Credits 0.5%
Consumer Credits 1.0%
Mortgage Credits for Housing 0.4%
For consumer credits that are revolving, a countercyclical component not less than 1.5% shall be applied. Revolving credits are those credits in which it is allowed that the balance fluctuates based on the debtor's decisions. For this purpose, the following accounts shall be considered: 1401.03.01 "Contracted current account advances", 1401.03.02 "Contracted credit cards", 1401.03.04 "Current account overdrafts", 1401.03.06.01 "Revolving loans" and 1401.03.20.02 "Credit card". In case commercial and mortgage credits have preferred self-liquidating guarantees the countercyclical component shall be 0.3% for the portion covered with said guarantees. For consumer and MES credits that have preferred self-liquidating guarantees the component countercyclical shall be 0% for the portion covered with said guarantees. For consumer credits that have contracts referred to payroll discount agreements that are eligible, according to the provisions of numeral 2.1 of
Chapter III of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of
Provisions, the countercyclical component shall be 0.3%. For this purpose, the analytical subaccount 1401.03.06.04 "Non-revolving loans granted under eligible agreements" shall be considered.
CHAPTER II
METHODOLOGY
Activation of the countercyclical rule
Companies shall constitute countercyclical provisions for the portfolio in Normal Category, when any of the following situations occurs:
a) The average of the annualized percentage variation of the GDP of the last 30 months passes from a level lower than 5% to one greater than or equal to this threshold. b) When the average of the annualized percentage variation of the GDP of the last 30 months is above 5% and the average of the annualized percentage variation of the GDP of the last 12 months is greater by 2 percentage points than this same indicator evaluated one year before. c) When the average of the annualized percentage variation of the GDP of the last 30 months is above 5% and 18 months have passed since the rule countercyclical was deactivated by the situation contemplated in numeral (2.b). The calculation of the moving averages shall be performed using the monthly information of the annualized percentage variation of the GDP published by the BCRP. The Superintendency shall communicate the activation of the countercyclical rule to the companies.
Deactivation of the countercyclical rule
The countercyclical rule shall be deactivated when any of the following situations occurs:
a) The average of the annualized percentage variation of the GDP of the last 30 months passes from a level equal to or greater than 5% to one lower than this threshold. b) The average of the annualized percentage variation of the GDP of the last 12 months is lower by 4 percentage points than this same indicator evaluated one year before.
Reassignment of countercyclical provisions
The Superintendency shall inform the deactivation of the countercyclical rule to the companies, via Circular. Companies shall reassign countercyclical provisions for the constitution of other mandatory provisions, not being able, in any case, to generate profits from the reversal of said provisions.
Information to the Superintendency
When the countercyclical rule is activated, companies shall report monthly the countercyclical provisions of credits in Normal category in Annex 5-A "Summary of Countercyclical Provisions" of the Accounting Manual." f) Eliminate the First and Fourth Final and Transitory Provisions of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions approved through Resolution SBS No. 808-2003 and its amendatory norms.

Third Article.- Activate the countercyclical rule from December 1, 2008. Companies shall constitute, as of December 31, 2008, at a minimum, two thirds of the missing amount to complete the total provision requirement of credits in Normal Category, and the remaining balance no later than February 28, 2009. The countercyclical provisions shall be recorded in the analytical accounts corresponding to mandatory generic provisions, according to what is indicated in Annex A, attached to this Resolution. Fourth Article.- 2 Amend the Accounting Manual for Companies of the Financial System, in accordance with Annexes A and B attached to this Resolution. What is indicated in Annex A shall enter into force from the information corresponding to the month of December 2008, while the modifications contained in Annex B shall enter into force from the information corresponding to the month of July 2010. Register, communicate and publish. FELIPE TAM FOX Superintendent of Banking, Insurance and Private Pension Fund Administrators 2 Article amended by SBS Resolution No. 14353-2009 of 10/30/2009.

INDEX
REGULATION FOR THE EVALUATION AND CLASSIFICATION OF THE DEBTOR AND THE REQUIREMENT OF PROVISIONS
CHAPTER I
CONCEPTS AND PRINCIPLES FOR THE EVALUATION AND CLASSIFICATION OF THE DEBTOR

SCOPE
DEFINITIONS
CREDIT CONVERSION FACTORS (CCF) OF INDIRECT CREDITS
TYPES OF CREDITS
4.1 Corporate Credits
4.2 Credits to Large Companies
4.3 Credits to Medium Companies
4.4 Credits to Small Companies
4.5 Credits to Micro Companies
4.6 Revolving Consumer Credits
4.7 Non-Revolving Consumer Credits
4.8 Mortgage Credits for Housing
GENERAL PRINCIPLES OF THE EVALUATION AND CREDIT CLASSIFICATION OF THE
DEBTOR
5.1 Evaluation Criteria
5.2 Credit Classification of the Debtor
CHAPTER II
CREDIT CLASSIFICATION CATEGORIES OF THE DEBTOR OF THE CREDIT PORTFOLIO
CREDIT CLASSIFICATION CATEGORIES
CREDIT CLASSIFICATION OF THE DEBTOR OF THE PORTFOLIO OF CREDITS
CORPORATE, TO LARGE COMPANIES AND TO MEDIUM COMPANIES
2.1 Normal Category
2.2 Category with Potential Problems
2.3 Deficient Category
2.4 Doubtful Category
2.5 Loss Category
CREDIT CLASSIFICATION OF THE DEBTOR OF THE PORTFOLIO OF CREDITS TO
SMALL COMPANIES, TO MICROCOMPANIES, REVOLVING CONSUMER AND NON-REVOLVING CONSUMER
3.1 Normal Category
3.2 Category with Potential Problems

3.3 Deficient Category
3.4 Doubtful Category
3.5 Loss Category
4. CREDIT CLASSIFICATION OF THE DEBTOR OF THE PORTFOLIO OF CREDITS
MORTGAGE FOR HOUSING
4.1 Normal Category
4.2 Category with Potential Problems
4.3 Deficient Category
4.4 Doubtful Category
4.5 Loss Category
CHAPTER III
REQUIREMENT OF PROVISIONS

TYPES OF PROVISIONS
1.1 Generic Provision
1.2 Specific Provision
PROVISION RATES
2.1 General Treatment
2.2 Treatment of Credits with More than Ninety (90) Days of Arrears
2.3 General Regime of Countercyclical Provisions
CONSTITUTION OF PROVISIONS
CHAPTER IV
GENERAL AND SPECIAL PROVISIONS
OF THE PROCESS OF CREDIT CLASSIFICATION AND REVIEW OF THE CLASSIFICATION
CREDIT OF THE DEBTOR
1.1 Bodies responsible for credit classification and review of classification
credit of the debtor
1.2 Periodicity of credit classification of the debtor
1.3 Coverage and periodicity of the review of credit classification of the debtor
1.4 Presentation of Information
REFINANCED AND RESTRUCTURED OPERATIONS
2.1 Refinanced operations
2.2 Restructured operations
2.3 Classification
2.4 Accounting record of refinanced and restructured operations
2.5 Present value of refinanced and/or restructured debts
VALUATION OF GUARANTEES
SUPERVISION AND CONTROL PROCEDURES BY THE
SUPERINTENDENCY
DISSEMINATION OF INFORMATION
WRITE-OFF OF UNCOLLECTIBLE CREDITS
SUSPENSION OF INCOME RECOGNITION FOR RISKY CREDITS
ADJUDICATION OF GOODS IN PAYMENT OF DEBTS
ACCOUNTING CLASSIFICATION OF CREDITS
FINAL AND TRANSITORY PROVISIONS
ANNEXES
ANNEX I: GENERAL REGIME OF COUNTERCYCLICAL PROVISIONS
ANNEX II: SPECIAL NORMS FOR THE PARTICIPATION OF COMPANIES OF THE SYSTEM
FINANCIAL IN THE AGRICULTURAL FINANCIAL RESCUE PROGRAMS AND PATRIMONIAL STRENGTHENING OF COMPANIES

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 REGULATION FOR THE EVALUATION AND CLASSIFICATION OF THE DEBTOR AND THE REQUIREMENT OF PROVISIONS
CHAPTER I
CONCEPTS AND PRINCIPLES FOR THE EVALUATION AND CLASSIFICATION OF THE DEBTOR AND THE REQUIREMENT OF PROVISIONS

SCOPE
This norm is applicable to multiple-operation companies included in literal A of Article 16 of the General Law, to financial leasing companies, to mortgage administrator companies, to the Bank of the Nation, to the Financial Corporation of Development (COFIDE), to the MIVIVIENDA Fund, to the Agricultural Bank, to the Guarantee Fund for Loans to Small Industry (FOGAPI), to the Derramas and to savings and credit cooperatives not authorized to capture resources from the public, hereinafter companies.
DEFINITIONS[^3]
a. Credits: Refers to the sum of direct plus indirect credits. b. Direct credits: Represents the financings that, under any modality, the companies of the financial system grant to their clients, originating against these the obligation to deliver a determined sum of money, in one or several acts, including even the obligations derived from refinancing and restructurings of existing credits or debts.
c. Indirect credits or contingent credits: Represent guarantees, surety bonds, the
bank acceptances, letters of credit, approved credits not disbursed and unused credit lines, granted by companies of the financial system. d. Credits to multilateral development banks: Credits to organisms constituted by a set of states, that provide financing and complementary services for the development. e. Sovereign credits: Credits with central banks, public treasuries and other entities of the public sector that possess items assigned by the public treasury to pay specifically said exposures. f. Credits to public sector entities: Credits to dependencies of the public sector that have not been considered as sovereign. Includes credits to local and regional governments, as well as to public or mixed companies. g. Credits to securities intermediaries: Credits to companies whose main lines of business are securities intermediation, fund administration, services of financial advice, investment banking and securities trading. Includes financing granted to Private Pension Fund Administrators, Stock Exchanges, Stock Agent Societies, Mutual Funds and Investment Funds, vehicles of special purposes, fiduciary assets and to the companies that administer them; as well as financing granted to other institutions that the Superintendency designates. h. Credits to companies of the financial system: Credits to companies included in the literals A and B of Article 16 of the General Law and their similars abroad. Includes the financing granted to FOGAPI, COFIDE, Bank of the Nation, Agricultural Bank and to the MIVIVIENDA Fund. 3 Numeral 2 substituted by SBS Resolution No. 14353-2009 of 10/30/2009.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
i. Revolving credits: Are those credits associated with revolving credit lines, in
which it is allowed that the amortized amounts be reused by the debtor.[^4] j. Non-revolving credits: Are those credits in which it is not allowed that the amounts amortized be reused by the debtor.[^5] k. Retail debtor: Natural or legal person that has direct or indirect credits classified as consumer (revolving and non-revolving), to microcompanies, to small companies or mortgage for housing.
l. Non-retail debtor: Legal person or legal entity that has direct or indirect credits
corporate, to large companies or to medium companies.[^6] m. Total indebtedness in the financial system: For purposes of this norm, is the sum of the direct credits, guarantees, surety bonds, bank acceptances and letters of credit that a debtor possesses in the financial system, without including written-off credits. n. Equivalent exposure to credit risk of indirect credits: Is the result of multiplying the indirect credits that a debtor possesses in the company by the factors of credit conversion (CCF). o. Days: Calendar days. p. Accounting Manual: Accounting Manual for Companies of the Financial System approved through SBS Resolution No. 895-98 of September 1, 1998 and its norms amendments. q. Superintendency: Superintendency of Banking, Insurance and Private Pension Fund Administrators. r. Pledge credit: modality of consumer credit that is granted when affecting in guarantee, with dispossession of the good, jewels or other objects of gold or silver.[^7] s. Legal entities: according to the definition indicated in literal e) of Article 2 of the Regulation on Economic Group, Linkage, application of Operational Limits to which refer Articles 201 to 204 of the General Law and Large Exposures.[^8] t. Transactional information: Information associated with payment services for the acquisition and use of products and services, among others.[^9] u. Tax authority: corresponds to the national tax authority or similar abroad.[^10]
v. Economic Group: according to the definition indicated in Article 3 of the Regulation
on Economic Group, Linkage, application of Operational Limits to which refer the Articles 201 to 204 of the General Law and Large Exposures.[^11] w. Regulation on Economic Group, Linkage, application of Operational Limits to which refer Articles 201 to 204 of the General Law and Large Exposures: Regulation on Economic Group, Linkage, application of Operational Limits to which refer the Articles 201 to 204 of the General Law and Large Exposures approved through SBS Resolution No. 00975-2025 or norm that substitutes it.[^12] 4 Literal i) substituted by SBS Resolution No. 5570-2019 of 11/27/2019, effective from January 1, 2021. 5 Literal j) substituted by SBS Resolution No. 5570-2019 of 11/27/2019, effective from January 1, 2021. 6 Literal l) substituted by SBS Resolution No. 2368-2023, published on 07/19/2023. Subsequently substituted by Resolution SBS No. 3212-2023, published on 09/29/2023, change effective from 10/01/2024. 7 Literal r) incorporated by SBS Resolution No. 1802-2014 of 03/18/2014. 8 Literal s) incorporated by SBS Resolution No. 2368-2023, published on 07/19/2023. Subsequently substituted by the SBS Resolution No. 00975-2025, published on 03/13/2025, change effective from 06/01/2025. 9 Literal t) incorporated by SBS Resolution No. 2368-2023, published on 07/19/2023. 10 Literal u) incorporated by SBS Resolution No. 2368-2023, published on 07/19/2023. 11 Literal v) incorporated by SBS Resolution No. 2368-2023, published on 07/19/2023. Subsequently substituted by the SBS Resolution No. 00975-2025, published on 03/13/2025, change effective from 06/01/2025. 12 Literal w) incorporated by SBS Resolution No. 00975-2025, published on 03/13/2025. Effective from 06/01/2025.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
3. CREDIT CONVERSION FACTORS (FCC) OF INDIRECT CREDITS13
For the determination of the Exposure equivalent to credit risk of indirect credits, the Credit Conversion Factors (FCC) shall be taken according to the following:
a) Confirmations of irrevocable letters of credit up to one year, when the issuing bank is a company of the first-level external financial system 20% b) Guarantees, import letters of credit, fidelity bonds that support the fulfillment of payment obligations associated with credit risk events, and confirmations of letters of credit not included in literal "a)", as well as bank acceptances. 100% c) Fidelity bonds not included in literal "b)"15 50% d) Granted credits not disbursed and unused credit lines 0% e) Other indirect credits not contemplated in the previous literals 100%"
4. TYPES OF CREDITS16
The credit portfolio is classified into eight (8) types. Credits granted to legal entities and/or for project financing cannot be considered as credits to small enterprises or microenterprises17.
4.1 CORPORATE CREDITS18
Corporate credits are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or legal entities that have registered sales or annual income from ordinary activities in the last two (2) periods, declared to the Tax Authority, greater than S/ 200 million or its equivalent in foreign currency. In case of not having such information, the information provided from the last two (2) economic exercises according to audited financial statements shall be considered. In the case of credits granted to legal persons or legal entities that, having recently started operations, only have the aforementioned information corresponding to the last period declared to the Tax Authority or the last economic exercise according to audited financial statements, they must also be typified as corporate credits provided they have 13 Numeral 3 substituted by SBS Resolution N° 14353-2009 of 10/30/2009. 14 Literal b) substituted by SBS Resolution N° 5570-2019 of 11/27/2019, effective from January 2020 information. 15 Literal c) substituted by SBS Resolution N° 5570-2019 of 11/27/2019, effective from January 2020 information. 16 Numeral 4 substituted by SBS Resolution N° 14353-2009 of 10/30/2009. 17 Header substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024. 18 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 registered sales or annual income from ordinary activities greater than S/ 200 million or its equivalent in foreign currency in said information.
Likewise, credits granted to legal persons or legal entities are considered as corporate credits when these belong to an economic group in which at least one legal person or legal entity of the same economic group complies with the characteristic indicated in the previous paragraph. Sovereign credits, credits granted to multilateral development banks, to public sector entities, to securities intermediaries, to financial system companies, to insurance system companies, to autonomous assets of credit insurance, to guarantee funds constituted in accordance with Law and to other guarantee funds are also considered as corporate credits.
4.2 CREDITS TO LARGE ENTERPRISES19
Credits to large enterprises are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or legal entities that do not comply with the conditions to be typified as corporate and that have registered sales or annual income from ordinary activities in the last two (2) periods, declared to the Tax Authority, greater than S/ 20 million or its equivalent in foreign currency. In case of not having such information, the information provided from the last two (2) economic exercises according to audited financial statements shall be considered. In the case of credits granted to legal persons or legal entities that, having recently started operations, only have the aforementioned information corresponding to the last period declared to the Tax Authority or the last economic exercise according to audited financial statements, they must also be typified as credits to large enterprises if they have registered sales or annual income from ordinary activities greater than S/ 20 million or its equivalent in foreign currency, and do not comply with the conditions to be typified as corporate. Likewise, credits granted to legal persons or legal entities are considered as credits to large enterprises when these belong to an economic group in which at least one legal person or legal entity of the same economic group complies with the characteristic indicated in the previous paragraph.
4.3 CREDITS TO MEDIUM ENTERPRISES20
These are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or legal entities that do not comply with the conditions to be typified as corporate or large enterprises and that have registered sales or annual income from ordinary activities in the last period declared to the Tax Authority greater than S/ 5 million or its equivalent in foreign currency. In case of not having such information, the information provided from the last economic exercise according to audited financial statements shall be considered. 19 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024. 20 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 Likewise, credits granted to legal persons or legal entities are considered as credits to medium enterprises when these belong to an economic group in which at least one legal person or legal entity of the same economic group complies with the characteristic indicated in the previous paragraph. Those granted to legal entities that have registered a level of sales or annual income from ordinary activities not greater than S/ 5 million or its equivalent in foreign currency in the last period declared to the Tax Authority or in the last economic exercise according to the financial statements must also be typified as credits to medium enterprises.
4.4 CREDITS TO SMALL ENTERPRISES21
These are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or natural persons that have registered a level of sales or annual income from ordinary activities in the last period not greater than S/ 5 million or its equivalent in foreign currency, and provided that their total indebtedness level in the financial system is greater than S/ 20 thousand or its equivalent in foreign currency in at least one of the last 6 Consolidated Credit Reports (RCC), or provided that the new disbursed credit is greater than said amount. In the case of a natural person, the total indebtedness level in the financial system mentioned above does not include mortgage credits for housing. If the natural person debtor additionally has credits that are not intended to finance the activities indicated in the first paragraph of this numeral, said credits are registered, as appropriate, as revolving consumer, non-revolving consumer or mortgage for housing.
4.5 CREDITS TO MICROENTERPRISES22
These are those credits intended to finance production, marketing, service provision or other business activities, granted to legal persons or natural persons that have registered a level of sales or annual income from ordinary activities in the last period not greater than S/ 5 million or its equivalent in foreign currency, and provided that their total indebtedness level in the financial system is not greater than S/ 20 thousand or its equivalent in foreign currency in the last 6 Consolidated Credit Reports (RCC), and that the new disbursed credit is not greater than S/ 20 thousand. In the case of a natural person, the total indebtedness level in the financial system mentioned above does not include mortgage credits for housing. If the natural person debtor additionally has credits that are not intended to finance the activities indicated in the first paragraph of this numeral, said credits are registered, as appropriate, as revolving consumer, non-revolving consumer or mortgage for housing.
4.6 REVOLVING CONSUMER CREDITS23
21 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024.
22 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 These are those revolving credits granted to natural persons, for the purpose of attending the payment of goods, services or expenses not related to production, marketing, service provision or other business activities. Revolving consumer credits include the modalities of current account advances, credit cards associated with revolving credit lines, current account overdrafts, revolving loans, including those granted under revolving payroll discount agreements, among others.
4.7 NON-REVOLVING CONSUMER CREDITS24
These are those non-revolving credits granted to natural persons, for the purpose of attending the payment of goods, services or expenses not related to production, marketing, service provision or other business activities.
Non-revolving consumer credits include the modalities of automobile loans, free availability loans, loans under non-revolving payroll discount agreements (eligible and non-eligible), financial leasing, lease-back, credit cards associated with non-revolving credit lines, non-revolving financings independent of the credit card line, among others.
4.8 HOUSING MORTGAGE CREDITS
These are those credits granted to natural persons for the acquisition, construction, repair, remodeling, expansion, improvement and subdivision of own housing, provided that such credits are granted secured by duly registered mortgages; whether these credits are granted by the conventional mortgage loan system, mortgage letters or by any other system of similar characteristics. Credits for the acquisition or construction of own housing that at the date of the operation, because they are future goods, goods in the process of independization or goods in the process of registration of ownership, it is not possible to constitute on them the individualized mortgage that derives from the granted credit are also included in this category. Likewise, the following are considered in this category:
a) Housing mortgage credits granted through negotiable mortgage credit titles in accordance with the Seventh Section of the Second Book of Law Nº 27287 of June 17, 2000; and, b) Receivables product of real estate capitalization contracts. 25 To determine the level of indebtedness in the financial system, the information of the last six (6) Consolidated Credit Reports (RCC) sent by the Superintendence shall be taken into account. The last RCC to consider is the one that is available on the first day of the current month. If the debtor has registered credits intended to finance production, marketing, service provision or other business activities only in some month(s) of the last six (6) months, the information of those months in which the debtor's total indebtedness in the financial system registered in the RCC is different from zero shall be taken into account. In the case of a natural person, the total indebtedness level in the financial system mentioned above does not include mortgage credits for housing.
5. GENERAL PRINCIPLES OF THE EVALUATION AND CREDIT CLASSIFICATION OF THE DEBTOR
5.1 EVALUATION CRITERIA
The granting of credit is determined by the payment capacity of the applicant which, in turn, is defined fundamentally by their cash flow and their credit history.
In the case of pawn credits or consumer credits with guarantee of cash deposits made in the same company or with guarantee of gold in ingots in custody of the lending company, the following shall be taken into account:
a) Pawn credits with jewelry or gold objects: for the amount of the credit that exceeds 80% of the value of the guarantee, an evaluation of the payment capacity of the applicant must be carried out, in accordance with the criteria applicable to retail debtors. b) Pawn credits with jewelry or silver objects: for the amount of the credit that exceeds 70% of the value of the guarantee, an evaluation of the payment capacity of the applicant must be carried out, in accordance with the criteria applicable to retail debtors. c) Consumer credits with guarantee of gold in ingots in custody of the lending company: for the amount of the credit that exceeds 80% of the value of the guarantee, an evaluation of the payment capacity of the applicant must be carried out, in accordance with the criteria applicable to retail debtors. d) Consumer credits with guarantee of cash deposits made in the same company: for the amount of the credit that exceeds 100% of the value of the guarantee, an evaluation of the payment capacity of the applicant must be carried out, in accordance with the criteria applicable to retail debtors.27 The evaluation of the applicant for the granting of credit to non-retail debtors must consider in addition to the concepts indicated in the previous paragraph, their economic environment, the capacity to meet their obligations before exchange rate variations or of their commercial, political or regulatory environment, the type of guarantees that support the credit, the quality of the company's management and the classifications assigned by the other companies of the financial system. To evaluate the granting of credits to retail debtors, the payment capacity is analyzed based on the applicant's income, their net worth, the amount of their various obligations (direct or contingent), the amount of the debt and of the installments assumed with the company (including contingent debt); as well as the credit classifications assigned by other companies of the financial system. The income used for the 23 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024. 24 Numeral substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. Change effective from 10/01/2024. 25 Literal substituted by SBS Resolution N° 3716 - 2016 of 06/07/2016.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 measurement of the payment capacity of retail debtors must be duly supported.28 For the granting of credits to small enterprise and microenterprise, companies may dispense with some of the documentary requirements and carry out credit evaluations, generating payment capacity indicators of the family-business unit, from supported information elaborated jointly with the potential borrower, to the satisfaction of this control body. Additionally, information on the social and economic environment of the debtor may be considered. Likewise, for the granting of working capital loans or other short-term products, prior approval of the Board of Directors and compliance with what is indicated in the Tenth Final and Transitory Provision of this Regulation, companies may use transactional information from verifiable sources, for the determination of annual sales, income and expenses of the family-business unit. The credit offer generated with this type of information may be directed to borrowers and/or potential borrowers, provided that the company has the transactional information of these, not considering as transactional information the information provided in the Consolidated Credit Report (RCC). In case methodologies and/or models based on transactional information are used, said methodologies and/or models must comply with what is established in the Model Risk Management Regulation approved by SBS Resolution N° 0053-2023 or norm that replaces it, if applicable.29 The annual sales or annual income of the family-business unit determined using contact techniques with the potential borrower and/or based on transactional information, whether or not through the use of methodologies and/or models, cannot be superior to the annual sales limit established in the definition of credits to small enterprises of this Regulation. Prudentially, the Superintendence may establish a sales threshold lower than this or may establish other limits, when it has concern regarding the solvency level, individual credit concentration and/or quality of the credit management of the portfolio of the supervised companies.30 For the granting of consumer credits and housing mortgage credits with resources from the MIVIVIENDA Fund, companies may make use of contact techniques with the borrower and/or potential borrower, or use inferred income. Sworn statements signed by the debtor may only be used provided that the declared income is less than that obtained through methodologies and/or models.31 Inferred income must be the result of methodologies and/or models with adequate quality indicators, and their monitoring must comply with the provisions indicated in the Model Risk Management Regulation, approved by SBS Resolution N° 0053- 2023 or norm that replaces it, if applicable. It is the obligation of the company 26 Paragraph substituted by SBS Resolution N° 5570-2019 published on 11/28/20191. Subsequently,
substituted by SBS Resolution N° 2368-2023, published on 07/19/2023, change effective from 10/01/2024. 27 First paragraph modified by SBS Resolution N° 1802-2014 of 03/18/2014.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 measurement of the payment capacity of retail debtors must be duly supported.28 For the granting of credits to small enterprise and microenterprise, companies may dispense with some of the documentary requirements and carry out credit evaluations, generating payment capacity indicators of the family-business unit, from supported information elaborated jointly with the potential borrower, to the satisfaction of this control body. Additionally, information on the social and economic environment of the debtor may be considered. Likewise, for the granting of working capital loans or other short-term products, prior approval of the Board of Directors and compliance with what is indicated in the Tenth Final and Transitory Provision of this Regulation, companies may use transactional information from verifiable sources, for the determination of annual sales, income and expenses of the family-business unit. The credit offer generated with this type of information may be directed to borrowers and/or potential borrowers, provided that the company has the transactional information of these, not considering as transactional information the information provided in the Consolidated Credit Report (RCC). In case methodologies and/or models based on transactional information are used, said methodologies and/or models must comply with what is established in the Model Risk Management Regulation approved by SBS Resolution N° 0053-2023 or norm that replaces it, if applicable.29 The annual sales or annual income of the family-business unit determined using contact techniques with the potential borrower and/or based on transactional information, whether or not through the use of methodologies and/or models, cannot be superior to the annual sales limit established in the definition of credits to small enterprises of this Regulation. Prudentially, the Superintendence may establish a sales threshold lower than this or may establish other limits, when it has concern regarding the solvency level, individual credit concentration and/or quality of the credit management of the portfolio of the supervised companies.30 For the granting of consumer credits and housing mortgage credits with resources from the MIVIVIENDA Fund, companies may make use of contact techniques with the borrower and/or potential borrower, or use inferred income. Sworn statements signed by the debtor may only be used provided that the declared income is less than that obtained through methodologies and/or models.31 Inferred income must be the result of methodologies and/or models with adequate quality indicators, and their monitoring must comply with the provisions indicated in the Model Risk Management Regulation, approved by SBS Resolution N° 0053- 2023 or norm that replaces it, if applicable. It is the obligation of the company 28 Paragraph substituted by SBS Resolution N° 2368-2023, published on 07/19/2023. 29 Paragraph
incorporated by SBS Resolution N° 2368-2023, published on 07/19/2023. Effective from 01/01/2025. 30 Paragraph incorporated by SBS Resolution N° 2368-2023, published on 07/19/2023. Effective from 01/01/2025. 31 Paragraph incorporated by SBS Resolution N° 2368-2023, published on 07/19/2023. Effective from 10/17/2023.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 demonstrate that the methodologies and/or models used for income inference comply with said condition.32 The debtor evaluation criteria indicated in Article 222 of the General Law apply in the context of their belonging to a group of counterparties connected by unique risk according to what is established in Article 203 of the General Law and the Regulation on Economic Group, Linkage, application of operational Limits referred to in Articles 201 to 204 of the General Law and Large Exposures.33 The criteria indicated above apply without prejudice to the provisions on knowledge of the client and of the market established in the Risk Management Regulation of Money Laundering and Terrorist Financing approved by SBS Resolution N° 2660-2015 and its amendments or norm that replaces it.34
5.2 CREDIT CLASSIFICATION OF THE DEBTOR
General Criteria a) The credit classification of the debtor is determined mainly by the debtor's payment capacity, through its cash flow and the degree of compliance with its obligations. Likewise, its solvency, the credit classifications assigned by other companies of the financial system, as well as its credit history, among other prudential elements, must be taken into consideration. b) Only compliance with the debtor's obligations will be considered as a valid parameter when the funds used for this purpose are generated by the debtor itself and are not flows financed directly or indirectly by third parties. Nor will such compliances be considered as valid parameters when they constitute a simple accounting instrumentation, without real income intervening. These criteria will be of general application, even in cases of operations subject to some refinancing or restructuring, as well as those financial leases that had their origin in other credits. c) In case the debtor has several credits in the same company, its classification will be the one corresponding to the category of greater risk, unless the balance in said credits is less than S/. 100.00 (One Hundred New Soles) or one percent (1%) of the total debt with the company (with a maximum cap of three (3) Tax Units (UIT)), whichever is greater. The company will first consolidate the classification corresponding to the debtor by credit modality applying the criterion indicated above; then it will consolidate the different modalities by credit type, applying the same criterion. d) In case the debtor has credits in two or more companies of the financial system or, in general, in any equity that must report Annex No. 6 "Debtor Credit Report - RCD", the debtor will be classified to the category of greater risk that has been assigned by any of the entities whose credits represent a minimum of twenty percent (20%) in the system. The review of the classification thus effected will be designated in the subsequent paragraphs, as "alignment". Only one level of discrepancy with respect to this category will be allowed. 32 Paragraph incorporated by SBS Resolution N° 2368-2023, published on 19/07/2023. Effective from 30/06/2024. 33 Paragraph substituted by SBS Resolution N° 2368-2023, published on 19/07/2023. Subsequently, substituted by SBS Resolution N° 00975-2025, published on 13/03/2025, change effective from 01/06/2025. 34 Paragraph substituted by SBS Resolution N° 2368-2023, published on 19/07/2023.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 e) The entity must carry out the alignment procedure monthly, considering the classification of the debtor based on the last available information sent by the Superintendence through the "Consolidated Credit Report – RCC". Likewise, it must use said information for the calculation of the percentage of credits referred to in literal d) above. The entity must also report the classification without alignment in the field assigned in the "Debtor Credit Report – RCD. f) For purposes of literals c) and d) direct credits and indirect credits will be considered, except undisbursed credits and unused lines. g) For the purpose of alignment, the following must be considered:
i. The credit portfolios held by companies of the financial system, including the written-off portfolios maintained by companies of the financial system and the credit portfolios of companies of the financial system in liquidation;
ii. The credit portfolios that have been transferred through trust or other similar contract, provided that in accordance with the Regulation of the Trust and of Fiduciary Services Companies, there is an obligation to continue reporting in the RCD.36
iii. The transferred credit portfolios that according to the Regulation of transfer and acquisition of portfolio are obliged to continue reporting in the RCD37
.
Credits of Non-Retail Debtors a) To classify debtors of the non-retail credit portfolio, the debtor's cash flow must be taken into account primarily, which also includes knowledge of the global indebtedness of the debtor company with third-party creditors, of the country and abroad, and its level of compliance in the payment of said debts. b) Likewise, the possible effects of financial risks related to mismatches in currency, terms and interest rates of the financial statements of the debtor company and that can impact its payment capacity, including operations with derivative financial instruments, must expressly be considered. c) When evaluating cash flow, the company of the financial system must keep in mind the degree of sensitivity to variations in the economic and regulatory environment in which the debtor company operates, as well as the degree of vulnerability to changes in the composition and quality of its portfolio of clients and suppliers and in its contractual relationships with them. The quality of management of the debtor company and its information systems will additionally be considered for the classification. d) The debtor's non-compliance in the payment of its debt in the agreed terms presumes a situation of inadequate cash flow. Credits of Retail Debtors a) In the case of the credit classification of retail debtors, their payment capacity measured based on their degree of compliance will be taken into account mainly, 35 Literal substituted by SBS Resolution N° 2368-2023, published on 19/07/2023. 36 Numeral modified by SBS Resolution N° 1882-2014, of 26/03/2014. 37 Numeral incorporated by SBS Resolution N° 14353-2009 of 30/10/2009.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 reflected in the number of days of delay, as well as in the classification of debtors in the other companies of the financial system, in case of application of alignment. b) For retail debtors, alignment will only be carried out when the classification in the entity whose credits represent a minimum of twenty percent (20%) in the system is Doubtful or Loss. c) For the calculation of the alignment of retail debtors, the debtor's credit information with more than one thousand eight hundred (1,800) days of delay will not be taken into account. d) In case the company grants financing to retail debtors that previously formed part of the portfolio that has been written off or transferred with the credit classification of Loss, before the expiration of a period of two (2) years, counted from the date of write-off or transfer, a provision of one hundred percent (100 %) must be constituted for one (1) year.
CHAPTER II
CATEGORIES OF CREDIT CLASSIFICATION OF THE DEBTOR OF THE CREDIT PORTFOLIO

CATEGORIES OF CREDIT CLASSIFICATION
The debtor will be classified according to the following categories:

Normal Category (0)
Category with Potential Problems (1)
Category Deficient (2)
Category Doubtful (3)
Category Loss (4)

CLASSIFICATION OF THE DEBTOR OF THE CORPORATE CREDIT PORTFOLIO, TO LARGE COMPANIES AND TO MEDIUM-SIZED COMPANIES
2.1 NORMAL CATEGORY (0)
The debtor:
a) Presents a liquid financial situation, with a low level of equity indebtedness and adequate structure of the same in relation to its capacity to generate profits. The cash flow is not susceptible to significant worsening before important modifications in the behavior of variables both own and linked to its activity sector; and, b) Complies punctually with the payment of its obligations. Additionally and without prejudice to what is established in preceding items a) and b), the company of the financial system will consider if the debtor:
a) Has a consistent and updated information system, which allows it to know permanently its financial and economic situation; b) Has qualified and technical management, with appropriate internal control systems;

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 c) Belongs to a sector of economic activity or line of business that records a growing trend; and, d) Is highly competitive in its activity.
2.2 CATEGORY WITH POTENTIAL PROBLEMS (1)38
The debtor presents any of the following characteristics:
a) A good financial and profitability situation, with moderate equity indebtedness and adequate cash flow for the payment of capital and interest debts. The cash flow could, in the next twelve (12) months, weaken to face payments, given that it is extremely sensitive to modifications of relevant variables such as economic, commercial, regulatory, political environment, among others; or, b) Two (2) or more delays greater than fifteen (15) days in the last six (6) months provided they do not exceed sixty (60) days.
2.3 CATEGORY DEFICIENT (2)
The debtor presents any of the following characteristics:
a) A weak financial situation and a cash flow that does not allow it to attend the payment of the totality of the capital and of the interest of the debts. The cash flow projection does not show improvement over time and presents high sensitivity to minor and foreseeable modifications of significant variables, further weakening its payment possibilities. It has scarce capacity to generate profits; or, b) Delays greater than sixty (60) days and that do not exceed one hundred twenty (120) days.
2.4 CATEGORY DOUBTFUL (3)
The debtor presents any of the following characteristics:
a) A manifestly insufficient cash flow, not reaching to cover the payment of capital nor of interest; presents a critical financial situation and very high level of equity indebtedness, and is obliged to sell assets of importance for the developed activity and that, materially, are of significant magnitude with negative results in the business; or, b) Delays greater than one hundred twenty (120) days and that do not exceed three hundred sixty-five (365) days.
2.5 CATEGORY LOSS (4)
The debtor presents any of the following characteristics:
a) A cash flow that does not reach to cover its costs. It is in suspension of payments, being feasible to presume that it will also have difficulties to comply with eventual restructuring agreements; it is in a state of decreed insolvency or is obliged to sell assets of importance for the developed activity, and that, materially, are of significant magnitude; or, b) Delays greater than three hundred sixty-five (365) days. 38 Numeral substituted by SBS Resolution N° 2368-2023, published on 19/07/2023. Change effective from 01/10/2024.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
3. CREDIT CLASSIFICATION OF THE DEBTOR OF THE CREDIT PORTFOLIO TO SMALL COMPANIES, TO MICROCOMPANIES, REVOLVING CONSUMPTION AND NON-REVOLVING CONSUMPTION
These debtors must be classified according to the following criteria:
3.1 NORMAL CATEGORY (0)
They are those debtors that are complying with the payment of their credits according to what is agreed or with a delay of up to eight (8) calendar days.
3.2 CATEGORY WITH POTENTIAL PROBLEMS (1)
They are those debtors that register delay in the payment of their credits of nine (9) to thirty (30) calendar days.
3.3 CATEGORY DEFICIENT (2)
They are those debtors that register delay in the payment of their credits of thirty-one (31) to sixty (60) calendar days.
3.4 CATEGORY DOUBTFUL (3)
They are those debtors that register delay in the payment of their credits of sixty-one (61) to one hundred twenty (120) calendar days.
3.5 CATEGORY LOSS (4)
They are those debtors that show delay in the payment of their credits of more than one hundred twenty (120) calendar days.
4. CREDIT CLASSIFICATION OF THE DEBTOR OF THE CREDIT PORTFOLIO MORTGAGE FOR HOUSING
4.1 NORMAL CATEGORY (0)
They are those debtors that are complying with the payment of their credits according to what is agreed or with a delay of up to thirty (30) calendar days.
4.2 CATEGORY WITH POTENTIAL PROBLEMS (1)
They are those debtors that show delay in the payment of thirty-one (31) to sixty (60) calendar days.
4.3 CATEGORY DEFICIENT (2)
They are those debtors that show delay in the payment of sixty-one (61) to one hundred twenty (120) calendar days.
4.4 CATEGORY DOUBTFUL (3)
They are those debtors that show delay in the payment of one hundred twenty-one (121) to three hundred sixty-five (365) calendar days.
4.5 CATEGORY LOSS (4)
They are those debtors that show delay in the payment of more than three hundred sixty-five (365) calendar days.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
CHAPTER III
REQUIREMENT OF PROVISIONS

TYPES OF PROVISIONS
1.1 GENERIC PROVISION
Generic provisions are those that are constituted, preventively, on direct credits and the exposure equivalent to credit risk of indirect credits of debtors classified in Normal category.
1.2 SPECIFIC PROVISION
Specific provisions are those that are constituted on direct credits and the exposure equivalent to credit risk of indirect credits of debtors to which have been classified in a category of greater risk than the Normal category.
PROVISION RATES
2.1. GENERAL TREATMENT
The minimum rates of generic provisions that companies must constitute on direct credits and the exposure equivalent to credit risk of indirect credits, classified in Normal category are the following:
| Types of credit | Provision Rates |
| :--- | :--- |
| Corporate credits | 0.70% |
| Credits to large companies | 0.70% |
| Credits to medium-sized companies | 1.00% |
| Credits to small companies | 1.00% |
| Credits to microcompanies | 1.00% |
| Revolving consumption credits | 1.00% |
| Non-revolving consumption credits | 1.00% |
| Mortgage credits for housing | 0.70% |
Likewise, the minimum rates of specific provisions that companies must constitute on direct credits and the exposure equivalent to credit risk of indirect credits, of debtors classified in a category of greater risk than Normal are the following:
| Risk Category | Table 1 | Table 2 | Table 3 |
| :--- | :--- | :--- | :--- |
| Category with Potential Problems | 5.00% | 2.50% | 1.25% |
| Category Deficient | 25.00% | 12.50% | 6.25% |
| Category Doubtful | 60.00% | 30.00% | 15.00% |
| Category Loss | 100.00% | 60.00% | 30.00% |
In case the credits have preferred self-liquidating guarantees indicated in numeral 3.12 of Chapter IV of these Regulations, the company will constitute specific provisions for the covered portion, considering a percentage not less than 1%.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 In case corporate credits, to large companies, to medium-sized companies, to small companies, to microcompanies or mortgage for housing have preferred guarantees of very rapid realization, according to what is disposed in numeral 3.11 of Chapter IV, the company will constitute provisions considering percentages not less than those indicated in Table 3, for the covered portion. Likewise, in case said credits have preferred guarantees, according to what is disposed in numeral 3.10 of Chapter IV, the company will constitute provisions considering percentages not less than those indicated in Table 2, for the covered portion. For pledge consumption credits that have the preferred guarantees defined in item h) of numeral 3.10.3 of Chapter IV, the company will constitute provisions considering percentages not less than those indicated in Table 2, for the covered portion. The companies must constitute provisions for the portion not covered by preferred self-liquidating guarantees, preferred guarantees of very rapid realization, preferred guarantees, as corresponds to the type of credit, considering percentages not less than those indicated in Table 1. The credits that have preferred guarantees that support diverse obligations, in which the right of the company of the financial system on said guarantee is subordinate to the preference of a third party over the same, must provision according to the percentages of Table 1.39 For effect of provisions, credits under the modality of financial leasing and real estate capitalization, except consumption credits, will be considered as credits with guarantees, having to take into account the quality of the goods given in financial leasing and real estate capitalization, as well as the valuation of the same, according to what is indicated in numeral 3 of Chapter IV.40 For credits that have the subsidiary responsibility of central governments and their agencies, central banks, International Monetary Fund, European Central Bank, Bank for International Settlements, multilateral development banks listed in Article 16° of the Regulation for the Requirement of Effective Equity by Credit Risk, companies of the financial system or of the insurance system of the country and abroad, as well as other entities with Risk II according to the Regulation for the Requirement of Effective Equity by Credit Risk, instrumented in (i) solidary letters of guarantee, (ii) guarantees, (iii) bank acceptances, iv) surety bonds, v) export credit insurance for pre and post shipment financings, (vi) letters of credit, stand by letters of credit or similar guarantees, provided that they are irrevocable with documents negotiated without discrepancies, (vii) credit derivatives (only total return swap and credit default swap); or that has credit insurance coverage extended by an autonomous estate of credit insurance; or with coverage of a guarantee fund constituted by Law,
or with the risk coverage provided by the Fondo MIVIVIENDA S.A. that is applicable and is in force according to the norms established by said Fund, the requirement of provisions corresponds to the credit classification of whoever provides the credit protection, for the covered amount, independently of the classification of the debtor and the type of credit of the original debtor. For the credit classification of the counterparties that 39 Paragraph incorporated by SBS Resolution N° 14353-2009 of 30/10/2009. 40 Paragraph substituted by SBS Resolution N° 14353-2009 of 30/10/2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 grant credit protection, the criteria indicated in Chapter II of this Regulation must be considered.41 The portion of the mortgage credit for housing with risk coverage from the MIVIVIENDA S.A. Fund may receive the same treatment as a credit with self-liquidating guarantee provided the following is met:
a) The mortgage credits have been granted with resources from the MIVIVIENDA S.A. Fund; and b) The risk coverage provided by the MIVIVIENDA S.A. Fund in favor of the company is applicable and is in force, in accordance with the regulations established by said Fund. When debtors, regardless of the type of credit and the guarantee they have, remain classified in the Doubtful category for more than 36 months or in the Loss category for more than 24 months, they must constitute provisions according to the rates indicated in Table 1. This criterion does not apply to debtors whose credit classification is due to the application of the alignment procedure, nor to debtors who have mortgage credits for housing, classified in said categories as a result of the application of literal c) of numeral 5.2 of Chapter I of this Regulation, provided that the mortgage credits for housing are in current accounting status.42
2.2. TREATMENT OF CREDITS WITH MORE THAN NINETY (90) DAYS OVERDUE44
When the debtor has any credit with overdue status greater than ninety (90) days, the company must make the best estimate of the loss it would expect to have for each operation that the debtor holds. The estimate of this expected loss percentage (PESP) for each operation will be made taking into account the current economic situation and the condition of the operation, including the value of the guarantee(s), the credit modality, the debtor's economic sector and the purpose of the operation, among others. For credits to small companies, credits to microcompanies and consumer credits (revolving and non-revolving), the calculation of the estimated PESP may be made according to the provision rates contemplated in numeral 2.1. of this Chapter, unless the company is authorized to employ methods based on internal ratings for the calculation of the effective equity requirement for credit risk corresponding to said portfolios, in which case it will apply the provisions in the previous paragraph. Companies must constitute as specific provisions the amount that results greater between the estimated PESP and the general treatment indicated in numeral 2.1 of this Chapter.
2.3 GENERAL REGIME OF COUNTERCYCLICAL PROVISIONS
41 Paragraph substituted by SBS Resolution N° 14353-2009 of 30/10/2009. Subsequently substituted by SBS Resolution N° 1782-2015 of 19/03/2015.
42 Paragraph substituted by SBS Resolution N° 7657-2011 of 04/07/2011. Subsequently substituted by SBS Resolution N° 1782-2015 of 19/03/2015.
43 Last three paragraphs substituted by SBS Resolution N° 14353-2009 of 30/10/2009. Subsequently eliminated by SBS Resolution N° 1465-2015 of 26/02/2015.
44 Numeral substituted by SBS Resolution N° 14353-2009 of 30/10/2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 Companies must constitute the countercyclical provisions of the Normal category according to Annex I "General Regime of Countercyclical Provisions".
3. CONSTITUTION OF PROVISIONS
Companies must constitute generic and specific provisions on direct credits and the exposure equivalent to credit risk of indirect credits.
The constituted provisions will be recorded in accordance with the provisions contained in the Accounting Manual.
When the constituted provisions are less than required, the company's board of directors must inform this Superintendence, together with the monthly report of effective equity, the reasons for said non-compliance. Said difference will be deducted, immediately, from the effective equity, in accordance with the provisions of the General Law. If it is appropriate to reclassify a credit to a lower risk category as a result of an improvement in the debtor's payment capacity, the financial system company must reassign the amount resulting from the reversal of provisions for the constitution of other provisions, starting first with the higher risk categories.
CHAPTER IV
GENERAL AND SPECIAL PROVISIONS

OF THE PROCESS OF CREDIT CLASSIFICATION AND REVIEW OF THE DEBTOR'S CREDIT CLASSIFICATION
1.1 BODIES RESPONSIBLE FOR CREDIT CLASSIFICATION AND REVIEW OF THE DEBTOR'S CREDIT CLASSIFICATION
Debtor credit classification
The debtor's credit classification shall be the responsibility of the Risk Unit or, failing that, of another unit independent of the business units and credit admission.
The unit responsible for the debtor's credit classification, in accordance with the provisions in the previous paragraph, must prepare quarterly the list of non-retail debtors who have been reclassified to a better category, indicating the initial and final classifications. Said list must be reported to the board of directors and be available to the Superintendence. Review of the debtor's credit classification The review of the debtor's credit classification shall be the responsibility of the Internal Audit Unit. The results of said review must be reported to the board of directors, equivalent body or delegated committee, in accordance with the provisions of the Integral Risk Management Regulation. The board of directors or equivalent body must issue

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 a statement in this regard, indicating its conformity or the adoption of corrective measures, and said statement must be recorded in minutes.
1.2 PERIODICITY OF THE DEBTOR'S CREDIT CLASSIFICATION
Non-Retail Debtors
The classification of non-retail debtors must be carried out at least monthly. Qualitative factors and those derived from financial information must be evaluated at least once a year or when facts or events occur that may affect the debtor's credit quality. For credits of debtors classified as CPP, Deficient and Doubtful, as well as for refinanced and restructured ones, the evaluation of qualitative and financial factors must be carried out at least semiannually. Retail Debtors The classification of retail debtors will be carried out at least monthly.
1.3 COVERAGE AND PERIODICITY OF THE REVIEW OF THE DEBTOR'S CREDIT CLASSIFICATION
Non-Retail Debtors
The Internal Audit Unit must review the classification of a representative sample of the credit portfolio of non-retail debtors, at least every four months or as set in its annual plan in accordance with the Internal Audit Regulation, being able to vary the composition of the sample in each review. The methodology for the determination of the representative sample must be duly documented and remain at all times available to the Superintendence. This control body may require modifications to said methodology. The methodology for the determination of the representative sample must consider among other criteria: the largest individual exposures, debtors who have been subject to alerts, debtors who have occasional overdue status repeatedly and debtors who have improved their classification during the last year. It must also include debtors of refinanced and restructured credits, credits granted to persons linked to the financial system company itself, and debtors reclassified by the company or by the Superintendence. In the case of debtors that integrate a group of counterparties connected by single risk in accordance with the provisions of article 203 of the General Law and the Regulation on Economic Group, Linkage, application of operational Limits referred to in articles 201 to 204 of the General Law and Large Exposures, the review will be carried out taking them as a single client.45 Retail Debtors 45 Paragraph substituted by SBS Resolution N° 00975-2025, published on 13/03/2025, change effective from 01/06/2025.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 For the review of the classification of retail debtors, permanent automated controls must be implemented. Likewise, data integrity analysis must be used and representative sample analysis performed, as review procedures, at least once a year. In the case of debtors that integrate a group of counterparties connected by single risk in accordance with the provisions of article 203 of the General Law and the Regulation on Economic Group, Linkage, application of operational Limits referred to in articles 201 to 204 of the General Law and Large Exposures, the review will be carried out taking them as a single client.46
1.4 SUBMISSION OF INFORMATION
The result of the classification must be reported monthly to this Superintendence within a period not greater than fifteen (15) calendar days, counted from the closing of the month to which the debtor evaluation and classification information corresponds, using for this effect Annex No. 5 "Report on Classification of Debtors of the Credit Portfolio" and Annex No. 6 "Credit Report of Debtors- RCD" in force.
2. REFINANCED AND RESTRUCTURED OPERATIONS
2.1 REFINANCED OPERATIONS
A "REFINANCED OPERATION" is considered to be the credit or direct financing, whatever its modality, regarding which variations of term and/or amount of the original contract occur that are due to difficulties in the debtor's payment capacity. A refinanced operation is also considered when the assumptions of novation contained in article 1277 and following of the Civil Code occur, provided they are the product of difficulties in the debtor's payment capacity. When difficulties in the payment capacity of a debtor motivate a subjective novation by delegation, said operations will not be considered as refinanced unless the debtor that is substituted is part of the group of counterparties connected by single risk of the substituted debtor.47 Every refinanced operation must be supported by a credit report, duly documented, and analyzed individually taking into account essentially the debtor's payment capacity, establishing that the new credit that is granted will be recovered under the agreed interest and term conditions.
2.2. RESTRUCTURED OPERATIONS
A "RESTRUCTURED OPERATION" is considered to be the credit or direct financing, whatever its modality, subject to the payment rescheduling approved in the restructuring process, ordinary or preventive competition, as the case may be, in accordance with the General Law of the Concursal System approved by Law No. 27809.
2.3 CLASSIFICATION
46 Paragraph substituted by SBS Resolution N° 00975-2025, published on 13/03/2025, change effective from 01/06/2025.
47 Paragraph substituted by SBS Resolution N° 00975-2025, published on 13/03/2025, change effective from 01/06/2025.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 At the time of signing the refinancing contract or approving the payment rescheduling, as corresponds to a refinanced or restructured credit, the risk classification of the debtors must be maintained in their original categories, with the exception of debtors classified as Normal who must be reclassified as Potential Problems.48 Subsequently, the credit classification of refinanced or restructured debtors may be improved by one category, every two (2) quarters, provided that the debtor has made punctual payments of the agreed installments, and is meeting the goals of the refinancing plan. If, on the contrary, the debtor presents delays in the payment of the agreed installments or non-compliance with the agreed goals or deterioration in their payment capacity in accordance with Chapter II of this Regulation, the supervised company must proceed to reclassify the debtor, immediately, in a higher risk category.49 In case any refinancing or restructuring contemplates a grace period, the criteria indicated in the previous paragraph regarding the improvement in the debtor's credit classification will apply from the conclusion of said grace period. The interests, commissions and expenses that are generated by the refinanced or restructured operations must be accounted for by the cash basis method.

2.4 ACCOUNTING RECORD OF REFINANCED AND RESTRUCTURED OPERATIONS
Refinanced and restructured operations must be recorded accountingly in the accounts of refinanced credits and restructured credits, in accordance with the provisions contained in the Accounting Manual.
Said operations may be recorded accountingly as current credits if all the conditions detailed below are met:
a) The debtors of the credits are classified as Normal or Potential Problems, as a consequence of the evaluation by payment capacity; b) The original credit has not suffered changes in the contractual conditions, which are due to difficulties in the payment capacity, for more than once; c) The debtor has paid at least twenty percent (20 %) of the capital of the refinanced or restructured debt; and, d) The debtor has demonstrated payment capacity with respect to the new credit schedule through punctual payment of installments during the last two (2) quarters. For this effect, punctual payment will be considered the compliance with the obligation on the date established in the contract. In case any refinancing and/or restructuring contemplates a grace period, the provisions in the previous paragraph will apply from the conclusion of said grace period. The interests, commissions and expenses generated by the refinanced and restructured operations once reclassified in the category of current ones, will be accounted for according to the criterion applied to current credits, established in the Accounting Manual. 48 Paragraph substituted by SBS Resolution N° 14353-2009 of 30/10/2009. 49 Paragraph substituted by SBS Resolution N° 14353-2009 of 30/10/2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 Financial system companies must maintain a permanent record in control accounts of the refinanced and restructured operations that have been reclassified in the category of current ones.
2.5 PRESENT VALUE OF REFINANCED AND/OR RESTRUCTURED OPERATIONS
At the time of refinancing or restructuring, companies must determine the present value of the future flows of the new debt schedule. If said present value is less than the net book value of provisions, additional provisions to the existing ones must be constituted immediately for the corresponding difference.
3. VALUATION OF COLLATERAL
The rules on collateral valuation are those indicated below:
3.1 The valuation of collateral will be based on the net realization value, which must appropriately reflect its sale value in the market minus the additional expenses incurred for such purpose.
3.2 Net realization value in the market is understood as the net value that the company expects to recover as a consequence of the eventual sale or execution of the asset, in the situation how and where it is. Therefore, this value must consider write-offs and charges for concepts of taxes, commissions, freight, shrinkage, among others.
This value must be based on a reference commercial value, calculated from reliable information. In no case may the commercial value be estimated from mere expectations of price improvement in the market, or financial assumptions related to potential clients, but rather a strictly conservative criterion will be followed, based on the current market conditions.
3.3. Assets given as collateral will be valued by a suitable professional duly registered in the Register of Appraiser Experts (REPEV) of this Superintendence. Said requirement is mandatory for the preferred guarantees indicated in numerals 3.10.1, 3.10.2, literal h) of numeral 3.10.3 and literal a) of numeral 3.10.4 of this section, when applicable. Also subject to said requirement is the collateral trust constituted on the aforementioned assets. In case the preferred guarantees indicated in literal h) of numeral 3.10.3 are not appraised by an appraiser registered in REPEV, a discount of 1% will be applied on the value of such guarantees.50
3.4. In the case of mortgages and movable guarantees that must be registered in accordance with this Regulation, it must be verified if these have been effectively registered in the corresponding registries and that they have insurance that covers the loss of the asset, duly endorsed in favor of the company. If not, they cannot be considered as preferred guarantees, unless there is a registry blockage which is considered as a constituted guarantee for a period not greater than ninety (90) days counted from its registration.51
50 Numeral substituted by SBS Resolution N° 14353-2009 of 30/10/2009.
51 Numeral substituted by SBS Resolution N° 1782-2015 of 19/03/2015.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
3.5. When dealing with real estate and movable assets registered in the Legal Register of Assets, the valuation must be carried out through a commercial appraisal that has sufficient supporting background referring to the prices used. Preferably, recent sales of similar assets will be considered, the sources that originated the calculations of these prices and the considerations that served as a basis to determine the final value of the appraised asset. Such background must remain in files available to the Superintendence.
3.6. When the guarantees are securities, or financial instruments in general, these will be encumbered in favor of the company, observing the laws on the matter. The valuation of these instruments will be carried out according to internal models developed by the company, subject to the review of the Superintendence. Said models must be consistent with the valuation models employed in accordance with the provisions of the Regulation on Classification, Valuation and Provisions of Investments of Financial System Companies, and the resulting prices must be equal for the valuation of guarantees and investments.
3.7 The acts of constitution of movable guarantee on assets destined for industrial, agricultural or mining exploitation, must expressly establish that said assets may only be transferred with authorization from the creditor company.
3.8 Regarding syndicated credits, referred to in numeral 8 of article 221º of the General Law, the guarantees presented will be considered proportionally to the aliquots of the credits granted.
3.9 Preferred guarantees are considered those that meet all the following requirements:

It is money or assets that allow their conversion into money, with which the guaranteed obligation can be cancelled, without significant costs;
They have adequate legal documentation;
They do not present prior obligations that could decrease their value or in some way prevent the creditor company from acquiring clear title;
Their value is permanently updated.
For purposes of keeping the value of preferred guarantees, other than money, permanently updated, companies may use value update systems based on market realization indicators, built from reliable reference commercial, economic and statistical information. Said systems must be permanently updated and available to this Superintendence. The value of the preferred guarantees obtained by the aforementioned means must be updated through valuation carried out by an appraiser registered in REPEV, when applicable in accordance with the provisions of numeral 3.3, when there is any change that could have a significant impact on the valuation of the asset. Regarding pledge credits with jewelry or gold and silver objects, or consumer credits with guarantee of gold in ingots in custody of the lending company, the company's valuation methodology must consider a value of gold or silver that is consistent with the international price of the troy ounce of gold or silver. The value of gold or silver may not exceed the minimum between the average value of the troy ounce of gold or silver in the last thirty (30) days and the last available closing data.52 52 Paragraph incorporated by SBS Resolution N° 1802-2014 of 18/03/2014.

3.10 The following are considered preferred collateral:

3.10.1 First mortgage on real estate.

3.10.2 Products and merchandise of easy liquidation, affected by endorsed warrants in accordance with Law.

3.10.3 First movable guarantee on the following assets:

a) Debt instruments representing non-subordinated debt issued by companies of the financial system and the insurance system, by multilateral development banks, and by first-level foreign financial and insurance system companies;

b) Capital instruments used for the determination of the corresponding indices of centralized foreign negotiation mechanisms of recognized prestige to the satisfaction of the Superintendence or instruments representing the securities indicated in literal d) below;

c) Debt instruments that have quotation in some centralized foreign negotiation mechanism, whose risk rating in the international market is not less than BBB+ or A-2, as applicable, according to the equivalences indicated in the regulations issued by this Superintendence;

d) Capital instruments issued by legal persons other than the debtor, which are traded in centralized negotiation mechanisms, classified in categories 1 and 2 or in categories AAA, AA and A, as applicable, in accordance with the equivalences contained in the regulations issued by this Superintendence, with the exception of those issued by the creditor company itself;

e) Debt instruments classified in categories CP-1 and CP-2 or in categories AAA, AA and A, as applicable, in accordance with the equivalences contained in the regulations issued by this Superintendence, which are traded in centralized negotiation mechanisms, with the exception of those issued by the debtor company;

f) Participation Certificates in Mutual Funds classified in categories AAA, AA and A in accordance with the equivalences contained in the regulations issued by this Superintendence;

g) Participation Certificates in Investment Funds classified in categories AAA, AA and A in accordance with the equivalences contained in the regulations issued by this Superintendence;

h) Jewelry and precious metals with dispossession of the asset. If said guarantees are not registered in the corresponding records, a discount of 1% will be applied on the value of said guarantees;¹

i) Bills of lading and waybills, issued by transport companies of recognized prestige, duly endorsed in favor of the financial system company;

For the purposes of the equivalences of the classification categories, what is established in the Regulation for Classification, Valuation and Provisions of Investments of Financial System Companies shall be considered, supplemented, when applicable, by the provisions on Qualification and Classification of Investments of the Compendium of Regulatory Superintendence Standards of the Private Pension Fund Administration System.

3.10.4 Whenever registered in the Public Records:

a) First movable guarantee on land transport means, ships, aircraft, as well as on assets, of easy liquidation, destined for agricultural, industrial and mining exploitation.

b) Security trust constituted on the assets referred to in numerals 3.10.1, 3.10.2, 3.10.3.

For the first movable guarantee indicated in literal a) of this numeral to be considered as preferred collateral, the constituent or their representative must be designated as depositary of said assets in the respective constitutive act.

3.10.5 Surety bonds issued by companies supervised by the Superintendence that guarantee the completion of a real estate property, its independence and subsequent constitution of a mortgage in favor of the company (applicable only for housing mortgage credits, when it is not possible to constitute the mortgage because they are future assets).²

3.11 The following will be considered as preferred collateral of very rapid liquidation:

3.11.1. First movable guarantee on the following assets:

a) Instruments representing external public debt issued by the Central Government or instruments representing obligations of the Central Reserve Bank of Peru;

b) Debt instruments issued by central governments or central banks that are quoted in centralized negotiation mechanisms, classified at investment grade by risk classifiers to the satisfaction of the Superintendence;

c) Securities included in the list published semiannually by the Superintendence in accordance with the provisions of Article 90 of the Regulation of the Single Ordered Text of the Law of the Private Pension Fund Administration System, approved by Supreme Decree No. 00498-EF, with the exception of those issued by the debtor and creditor company.

d) Commodity warrants that are traded in centralized negotiation mechanisms or whose negotiation in secondary markets is frequent.

3.11.2. Security trust on the assets indicated in numeral 3.11.1, provided that it is registered in the Public Records.

3.12 The following will be considered as self-liquidating preferred collateral:

a) Cash deposits in national currency and foreign currency made in the lending company and subject to movable guarantee constituted in accordance with Law. In case said deposits are not registered, a discount of 0.5% will be applied on the value of such deposits.³

b) Rights of letter of credit, stand-by letters of credit or other similar ones, provided that they are irrevocable, with documents negotiated without discrepancies, pending collection from the issuing bank when this is a first-level foreign financial system company, to the extent that the company chooses not to consider it for the purposes of credit counterparty substitution.

c) Gold bars in custody of the lending company.⁴

d) Credit risk coverage provided by Fondo MIVIVIENDA S.A. The portion of the housing mortgage credit with risk coverage from Fondo MIVIVIENDA S.A. may receive the same treatment as a credit with self-liquidating guarantee provided that the following is complied with: i) the mortgage credits have been granted with resources from Fondo MIVIVIENDA S.A.; and ii) the risk coverage provided by Fondo MIVIVIENDA S.A. in favor of the company is applicable and in force, in accordance with the regulations established by said Fund.⁵

3.13 In case of verification of non-compliance with the minimum requirements described above, or that there are doubts regarding the valuations made, the Superintendence may require a total or partial reevaluation of the mentioned assets.

For the purposes of numerals 3.10 and 3.12, first-level foreign financial and insurance system companies are understood to be those institutions that possess an international rating not less than "BBB-" for long-term debt instruments and not less than "A-3" for short-term debt instruments, in accordance with the equivalences established in the Regulation for the Investment of Pension Funds Abroad.

SUPERVISORY FOLLOW-UP AND CONTROL PROCEDURES BY THE SUPERINTENDENCE

The Superintendence will regularly evaluate compliance, by the companies, with those provisions under which the process of evaluation and classification of debtors of the credit portfolio is carried out. In that orientation, it will order the reclassification in the risk categories corresponding to those debtors that, in its judgment, the company would have classified without adjusting to the pertinent regulations.

For this purpose, companies must permanently keep their debtor files updated, where the evaluation and classification of these must be duly supported, including the necessary provisions to cover eventual losses. Likewise, it must permanently keep the manual of credit policies and procedures updated and available to this Control Body.

If as a product of the verification of the classification of debtors of the credit portfolio, the Superintendence determines the requirement of total provisions superior to those calculated by the company, the latter must immediately constitute said provisions and proceed to the reclassification of the debtors in question. Likewise, if deemed necessary, the Superintendence may require the company to reevaluate the entire credit portfolio.

INFORMATION DISSEMINATION

The results of the evaluation and classification of the credit portfolio -to be applied by companies in accordance with the criteria indicated in this regulation- will be part of the information that will be disseminated by this Superintendence in accordance with the provisions of Article 137 of the General Law.

WRITE-OFF OF UNCOLLECTIBLE CREDITS

The board must proceed to the write-off of a credit classified as Loss, fully provisioned, when there is real and verifiable evidence of its irrecoverability or when the amount of the credit does not justify initiating judicial or arbitral action.

The company must establish within its internal control policies, the procedures and measures necessary to carry out the write-off of its uncollectible accounts, being evidenced in the respective minutes of the board or equivalent body.

Written-off credits must be controlled accountingly in the respective accounts destined for their registration, in accordance with current accounting regulations.⁶

Written-off credits must be reported by companies in Annex No. 6 "Debtor Credit Report – RCD" and will be kept in the Risk Center until they are transferred, forgiven or the reasons that gave rise to their write-off have been overcome, in accordance with that informed by the corresponding company.⁷

SUSPENSION OF INCOME RECOGNITION FOR RISKY CREDITS

As long as payment is not materialized, interest, commissions and expenses on credits or installments that are in an overdue situation, in judicial collection, or classified in the Doubtful or Loss categories, must be accounted for as suspended income or earnings. In the case of overdue credits, said accounting will proceed from the moment the first installment is overdue, regardless of whether the other installments have not yet expired.

Such interest, commissions and expenses will be recognized in the income statement only when they are effectively perceived.

Interest, commissions and expenses for debtor current accounts, for periods greater than thirty (30) calendar days from the granting of the overdraft, will be recorded in the respective accounts in suspense while their payment is not materialized, reversing the earnings not effectuated to date.

In the case of restructured and refinanced credits, and regardless of their classification, interest and commissions that have not been effectively perceived must be accounted for as suspended income or earnings in accordance with current accounting regulations.

ADJUDICATION OF ASSETS IN PAYMENT OF DEBTS

The registration, accounting treatment and provisions of the assets that a company adjudicates in payment of debts, will be subject to the provisions contained in the Regulation for the Treatment of Adjudicated and Recovered Assets and their Provisions, issued by the Superintendence.

ACCOUNTING CLASSIFICATION OF CREDITS

The period to consider the entire credit as overdue is after fifteen (15) calendar days have elapsed from the agreed payment due date for credits of non-retail debtors and thirty (30) calendar days for credits to small enterprises and microenterprises.

In the case of revolving and non-revolving consumer credits, housing mortgages and financial leasing operations, a staggered treatment is followed for the consideration of overdue credit: after thirty (30) calendar days of not having paid on the agreed date, only the unpaid portion will be considered overdue; while after ninety (90) calendar days from the first default, the entirety of the outstanding debt will be considered.

For the case of overdrafts in current accounts, regardless of the type of credit, it will be considered as overdue credit from the thirty-first (31st) calendar day of granting the overdraft.

FINAL AND TRANSITORY PROVISIONS

FIRST.- For the purposes of monitoring and registration of credits subject to the Agricultural Financial Rescue Programs (RFA) and Equity Strengthening of Companies (FOPE), companies must apply the provisions of Annex II of this regulation.

SECOND.- Mortgage credits that at the date of entry into force of this Regulation, have been granted with resources from the MIVIVIENDA Fund will not give rise to the constitution of provisions for the part that has coverage from said Fund.

THIRD.- This Superintendence will establish the specific guidelines, as well as the regulatory regulations, for the application of the provisions of this Regulation for assessments.⁸

FOURTH.- The Superintendence may adjust the percentages indicated in literals a), b) and c) of numeral 5.1 of Chapter I of this regulation in order to adapt it to the behavior of gold and silver in the market.⁹

FIFTH.- Those companies that have granted, before the entry into force of SBS Resolution No. 1802-2014, consumer credits with guarantee of cash deposits made in the same company above 100% of the value of the guarantee, consumer credits with guarantee of gold bars in custody of the lending company above 80% of the value of the guarantee, or pledge credits with jewelry or gold and silver objects above 80% and 70% of the value of the guarantee, respectively, will have until December 31, 2015 to adapt to the provisions on pledge credits and consumer credits with guarantee of cash deposits made in the same company or with guarantee of gold bars in custody of the lending company, approved by the aforementioned resolution.

For consumer credits with guarantee of cash deposits made in the same company, consumer credits with guarantee of gold bars in custody of the lending company, or pledge credits with jewelry or gold and silver objects, granted from the entry into force of the aforementioned Resolution, companies will have until January 31, 2015 to adapt to what is established in said Resolution.¹⁰

SIXTH.- For non-revolving consumer credits with contracts referred to payroll or pension discount agreements of the Public Sector that had the condition of eligible before the entry into force of Supreme Decree No. 010-2014-EF and that were reported as such, the company may continue constituting provisions in accordance with the percentages indicated in Table 3 of numeral 2.1 "General Treatment" of numeral 2 "Provision Rates" of Chapter III "Requirement of Provisions" and the procyclical provision percentage of 0.25%, until the expiration of said credits, provided that such credits are up to date in their payments and no contractual modifications referred to amount expansion are made nor that constitute refinancings.

For non-revolving consumer credits with contracts referred to payroll or pension discount agreements that are not of the Public Sector and that had the condition of eligible before the entry into force of SBS Resolution No. 1465-2015 and that were reported as such, the company may continue constituting provisions in accordance with the percentages indicated in Table 3 of numeral 2.1 "General Treatment" of numeral 2 "Provision Rates" of Chapter III "Requirement of Provisions" and the procyclical provision percentage of 0.25%, until the expiration of said credits, provided that such credits are up to date in their payments and no contractual modifications referred to amount expansion are made nor that constitute refinancings.¹¹

SEVENTH.- In relation to the modifications to the Regulation established by SBS Resolution No. 1782-2015, the following must be specified:

a. In case a company chooses to treat the credit risk coverage provided by Fondo MIVIVIENDA as a self-liquidating guarantee, it can do so for mortgage credits disbursed from 01.07.2010.

b. The surety bonds referred to in numeral 3.10.5 of numeral 3 "Valuation of Guarantees" of Chapter IV "General and Special Provisions" are accepted as preferred collateral, regardless of the disbursement date of the housing mortgage credit.¹²

EIGHTH.- Reprogrammed Credits - COVID 19¹³

NINTH.- Reprogrammed Credits - COVID 19¹⁴

Companies of the financial system, to COVID-19 reprogrammed credits, accounted for as Reprogrammed Credits - Health Emergency State, in accordance with the provisions issued by the Superintendence, must apply the following:

Reprogrammed credits of debtors with Normal classification, are considered credits of debtors with credit risk superior to Normal, corresponding to them the credit risk level Potential Problems (CPP). To these credits, specific provisions corresponding to the CPP credit risk category are applied, in accordance with numeral 2.1. of Chapter III of this Regulation.

However, in the case of debtors with Normal and CPP classification who have not made the payment of at least one full installment that includes capital in the last six months at the close of accounting information, they correspond to the credit risk level Deficient. Likewise, in the case of debtors with Normal, CPP and Deficient classification who have not made the payment of at least one full installment that includes capital in the last twelve months, they correspond to the credit risk level Doubtful. To these credits, the specific provisions corresponding to the Deficient or Doubtful credit risk category are applied, respectively, in accordance with numeral 2.1. of Chapter III of the Regulation.

The indicated in this numeral is applicable to consumer, microenterprise, small enterprise and medium enterprise credits.

To accrued interest (accounted in account 1408) of reprogrammed credits, in current accounting situation, corresponding to the portfolio of consumer, microenterprise, small enterprise and medium enterprise credits, a requirement of specific provisions corresponding to the Deficient credit risk category will be applied, in accordance with numeral 2.1. of Chapter III of this Regulation.

However, in the case of debtors who have not made the payment of at least one full installment that includes capital in the last six months at the close of accounting information, to said accrued interest a requirement of specific provisions corresponding to the Loss credit risk category will be applied, in accordance with Table 1 of numeral 2.1. of Chapter III of the Regulation.

The provisions indicated in numerals 1 and 2 do not affect the classification of the debtor in the Debtor Credit Report.
Uncollected accrued interest at the date of reprogramming, recognized as income, that are capitalized by effect of reprogramming, must be reversed and, registered as deferred income, accounting for them as income based on the new term of the credit and as the respective installments are canceled.
In relation to payments and cancellation, the provisions established in literal b) of numeral 5.2 of Chapter I of this Regulation must be considered.
Companies may not, in any case, generate profits or generate better results by the reversal of provisions, having to reassign them for the constitution of mandatory specific provisions.
The provisions indicated above do not apply in the following cases:

a) if the operation corresponds to agricultural credits with payments with frequency less than monthly; or,

b) if the operation corresponds to some government program, for which the corresponding regulations or specifications must be applied.

The Superintendence may establish the specific guidelines, in order to specify the application of the provisions indicated above.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 TENTH67.- Financial system companies may use, for the determination of annual sales, income and expenses of the family-business unit, of potential small and microenterprise borrowers, transactional information from verifiable sources, provided the following criteria are met:
a. The use of said information must be approved by the Board of Directors, who must establish the risk appetite for this portfolio, in terms of amounts (stock and/or disbursements), maximum terms to be granted, risk indicators, among other prudential criteria. The portfolio admitted based on transactional information must not exceed ten percent (10%) of the balance of the direct portfolio of the prior economic year, destined for credits to small and microenterprises. This percentage may be modified via Circular, if necessary. b. For the processing of transactional information, methodologies and/or models must be used that comply with what is established in the Model Risk Management Regulation approved by SBS Resolution No. 0053-2023 or norm that replaces it, if applicable.
c. The monitoring of said methodologies and/or models must consider, at least, the following guidelines: i) it must be carried out at least annually and presented to the Board of Directors, ii) verifiable annual sales, income and expenses of a statistically representative sample of debtors must be considered, iii) said sample must consider debtors from the different segments of the methodology and/or model proportionally to the distribution of new placements made using the estimated annual sales, income and expenses, and iv) monitor compliance with the thresholds established by the Board of Directors for the use of these methodologies and/or models. The actions taken regarding the results of the monitoring must be evidenced in the corresponding minutes.
d. The portfolio that uses transactional information must be subject to differentiated and permanent monitoring by the Risk Unit or responsible unit that the company determines. Likewise, this unit is responsible for preparing a monitoring report, which must contain the minimum aspects indicated in Subchapter V of Chapter II of the Credit Risk Management Regulation (SBS Resolution No. 3780-2011 and its amendments) and the monitoring actions indicated in article 5 of the Regulation for the Administration of Over-Indebtedness Risk of Retail Debtors (SBS Resolution No. 6941-2008 and its amendments). Said report must be approved by the Risk Committee or by whoever performs said function and remitted quarterly to the Superintendency. e. The Internal Audit Unit must include within its Annual Plan the review of this portfolio, in order to ensure that the criteria established in this Regulation are complied with.

67 Provision incorporated by SBS Resolution No. 2368-2023, published on 07/19/2023. Effective from 01/01/2025.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
ANNEX I
GENERAL REGIME OF COUNTERCYCLICAL PROVISIONS
CHAPTER I
GENERALITIES

Definitions
For the purposes of what is provided in this annex, the following definitions shall be considered:
a. BCRP: Central Reserve Bank of Peru. b. PBI: Real Gross Domestic Product of Peru published by the BCRP.
c. Countercyclical rule: Measure that causes an additional component to be added to the provision rate corresponding to the Normal risk category. Said component is activated according to what is indicated in numeral 1 of Chapter II of this Annex.
Countercyclical component of the provision rate of the Normal category
The countercyclical component of provisions on direct credits and the credit risk equivalent exposure of indirect credits of debtors classified in Normal category shall be constituted when the countercyclical rule is activated. The minimum rates of the countercyclical component for each type of credit are the following68:

Credit Types	Countercyclical Component
Corporate credits	0.10%
Credits to large enterprises	0.40%
Credits to medium enterprises	0.60%
Credits to small enterprises	1.00%
Credits to microenterprises	1.00%
Revolving consumer credits	1.50%
Non-revolving consumer credits	1.00%
Mortgage credits for housing	0.40%

In case the credits have preferred self-liquidating guarantees, the countercyclical component shall be 0% for the portion covered with said guarantees.69 For non-revolving consumer credits that have contracts referring to payroll or pension deduction agreements, and provided they are eligible, the countercyclical component shall be 0.25%. For said credits to be eligible they must comply with all the following conditions:
a) The employer or the one who pays the pension must be found in Normal classification. If they do not have credit classification, the financial system company must evaluate it and grant it a classification; b) Non-revolving consumer credits must have first payment preference via payroll or pension deduction. In this regard, it must be taken into account that the first payment preference is determined by the seniority of the credits; c) The total deduction for payment of non-revolving consumer credits that have contracts referring to payroll or pension deduction agreements granted by the same financial system company must not exceed 30% of the monthly net remuneration or pension after judicial and legal mandates; and, Non-revolving consumer credits that have contracts referring to payroll or pension deduction agreements must be up to date in their payments and must not present contractual modifications referring to amount increase nor that constitute refinancings.

68 Table substituted by SBS Resolution No. 03718-2021 of December 07, 2021.
69 Paragraph substituted by SBS Resolution No. 03718-2021 of December 07, 2021.
70 Paragraph substituted by SBS Resolution No. 14353-2009 of 10/30/2009. Subsequently substituted by SBS Resolution No. 1465-2015 of 02/26/2015.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
CHAPTER II
METHODOLOGY

Activation of the countercyclical rule71
Companies shall constitute countercyclical provisions for the portfolio in Normal Category, when any of the following situations occurs:
a) The average of the annualized percentage variation of the PBI of the last 30 months passes from a level lower than 4% to one greater than or equal to this threshold. b) When the average of the annualized percentage variation of the PBI of the last 30 months is above 4% and the average of the annualized percentage variation of the PBI of the last 12 months is greater by 2 percentage points than this same indicator evaluated one year before. c) When the average of the annualized percentage variation of the PBI of the last 30 months is above 4% and 18 months have passed since the countercyclical rule was deactivated by the situation contemplated in numeral (3.b). The calculation of the moving averages will be carried out using the monthly information of the annualized percentage variation of the PBI published by the BCRP.
Constitution of countercyclical provisions
The Superintendency will issue a Circular indicating to the companies the activation of the countercyclical rule.
72 Companies will have six (6) months, counted from the entry into force of the Circular to constitute the level of provisions required according to the countercyclical component for credits in Normal Category. The constitution of these provisions may be gradual, the rates of the countercyclical component not being able to be lower than indicated in the following table:73

Credit Types	Month 2	Month 4	Month 6
Corporate credits	0.04%	0.08%	0.10%
Credits to large enterprises	0.10%	0.25%	0.40%
Credits to medium enterprises	0.25%	0.40%	0.60%
Credits to small enterprises	0.30%	0.65%	1.00%
Credits to microenterprises	0.30%	0.65%	1.00%
Revolving consumer credits	0.50%	1.00%	1.50%
Non-revolving consumer credits	0.30%	0.65%	1.00%
Mortgage credits for housing	0.15%	0.25%	0.40%

On the other hand, for non-revolving consumer credits that have contracts referring to payroll or pension deduction agreements, and that are eligible, they must constitute the total of the countercyclical provisions no later than month 2. 74 75
3. Deactivation of the countercyclical rule
The countercyclical rule will be deactivated when any of the following situations occurs:
a) The average of the annualized percentage variation of the PBI of the last 30 months passes from a level equal to or greater than 4% to one lower than this threshold.76 b) The average of the annualized percentage variation of the PBI of the last 12 months is lower by 4 percentage points than this same indicator evaluated one year before. The Superintendency will inform the deactivation of the countercyclical rule to the companies, via Circular.77
4. Reassignment of countercyclical provisions78
Companies may not in any case, generate profits by the reversal of countercyclical provisions.
Companies will reassign countercyclical provisions for the constitution of mandatory specific provisions. The Superintendency, exceptionally, may authorize the reassignment of countercyclical provisions to other provisions.
5. Information to the Superintendency
When the countercyclical rule is activated, companies must report monthly the countercyclical provisions of credits in Normal category in Annex 5-A "Summary of Countercyclical Provisions" of the Accounting Manual.
6. Special conditions for activation and deactivation of the countercyclical rule79
The Superintendency may activate or deactivate the countercyclical rule, via Circular, in exceptional situations not contemplated in numerals 1 and 3 of Chapter II of this Annex, such as fortuitous event or force majeure events; or prudential situations, duly justified, such as the need to preserve the stability conditions of the financial system, or when due to extraordinary circumstances excessive volatility originates on the variables that determine the activation and deactivation of the countercyclical rule; among others.

71 Numeral substituted by SBS Resolution No. 03718-2021 of December 07, 2021.
72 Paragraph substituted by SBS Resolution No. 14353-2009 of 10/30/2009 73 Table substituted by SBS Resolution No. 03718-2021 of December 07, 2021.
74 Paragraph modified by SBS Resolution No. 1465-2015 of 02/26/2015.
75 First sentence of the paragraph tacitly repealed by SBS Resolution No. 03718-2021 of 07/12/2021.
76 Literal substituted by SBS Resolution No. 03718-2021 of December 07, 2021.
77 Paragraph incorporated by SBS Resolution No. 14353-2009 of 10/30/2009 78 Numeral substituted by SBS Resolution No. 14353-2009 of 10/30/2009 79 Numeral incorporated by SBS Resolution No. 03718-2021 of December 07, 2021.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
ANNEX II
SPECIAL RULES FOR THE PARTICIPATION OF FINANCIAL SYSTEM COMPANIES IN THE AGRICULTURAL FINANCIAL RESCUE AND EQUITY STRENGTHENING PROGRAMS FOR COMPANIES

Definitions
For the purposes of what is provided in this annex, the following definitions shall be considered:
a) RFA: Agricultural Financial Rescue Program, approved via Emergency Decree No. 059-2000 and its amendatory and complementary norms. b) FOPE: Equity Strengthening Program for Companies, approved via Emergency Decree No. 059-2000 and its amendatory and complementary norms. c) Debt to Refinance: The debt indicated in literal c) of article 5 of Law No. 27551, and in literal c) of article 4 of Annex II "Regulation of the Equity Strengthening Program for Companies (FOPE)" approved via Ministerial Resolution No. 121-2000-EF/77 and its amendments, as applicable. d) Deductions: The reductions indicated in literal b) of article 5 of Law No. 27551, and in literal b) of article 4 of Annex II "Regulation of the Equity Strengthening Program for Companies (FOPE)" approved via Ministerial Resolution No. 121-2000-EF/77 and its amendments, as applicable. e) Accrued interest: The interest that is pending collection until the day prior to the debt liquidation date. f) Days: Calendar days.
Treatment of debt refinanced by the supervised company
For purposes of the accounting registration of the debt refinanced by the supervised company, the amount prepaid by the beneficiary nor the amount prepaid with the Reactivation Bonds shall not be included.
Treatment of Deductions
Deductions may be freely negotiated between the supervised company and the debtor. In case Deductions are capitalized, the treatment will follow what is established in the Regulation for the Capitalization of Claims by Financial System Companies. If part of the principal of the debt is written off, the corresponding losses must be recognized immediately in results. If suspended interest is written off, the supervised company will have to reverse the corresponding amount recorded in liabilities. If Deductions are converted into subordinated debt, during the first five (5) years, from said conversion, these Deductions will not be deducted from effective equity for purposes of what is indicated in the General Law.
Registration of Reactivation Bonds DS No. 087-2000-EF
The investment made by the financial system company in said Reactivation Bonds will be registered and provisioned according to what is established by the Regulation for Classification, Valuation and Provisions of Investments of Financial System Companies.
Financing for the agricultural campaign and working capital
Short-term financing for the agricultural campaign and working capital, indicated in article 3 of Supreme Decree No. 088-2000-EF and in article 4 of Supreme Decree No. 089-2000-EF, as applicable, may be provisioned using the rates corresponding to the normal risk category, provided their granting has been preceded by a risk analysis of the debtor according to what is established in this Regulation, and have clearly identified repayment sources. If default in payment of the referred financing is reported within the agreed terms in the schedule agreed between the debtor and the supervised company, these will be provisioned using the rates corresponding to the category assigned to the debtor according to what is established in numeral 2.3 of Chapter IV of this norm.
Debtor classification
For purposes of debtor classification, what is provided in numeral 2.3 of Chapter IV of this Regulation must be considered.
Regarding Law No. 28591, credits will be reclassified as Normal, provided they have adhered to the refinancing or restructuring according to the provisions of said Law, or that prior to the validity of said Law they have adhered to the RFA Program and are complying timely with the payment of their installments. Subsequently, from said reclassification to Normal, the debtor classification provisions established in Chapter II of this Regulation will apply. It is the responsibility of the Board of Directors and Management to carry out adequate supervision of the operations to determine in a timely manner the compliance with the goals established within the RFA and FOPE Programs.
Treatment of provisions
The provisions corresponding to the original debt will be assigned in the following order of priority:
a) Coverage of required provisions according to the new or revised classification of the debtor; b) Coverage of losses resulting from the write-off, conversion into subordinated debt or refinancing of Deductions; c) Coverage of provisions required for investments originated by the capitalization of claims; and, d) Reassignment to the constitution of other required provisions, covering first the higher risk categories. In case an excess of provisions occurs, these must be temporarily destined to the constitution of generic provisions. In no case must the excess of provisions be destined to increase results.
Credit file
The minimum information and documentation that must be included in the credit files of debtors refinanced within the framework of the RFA and FOPE programs is the following:
I. Minimum information and documentation required for the analysis of the debt to be refinanced within the framework of the RFA Program
Diagnosis of the debtor's situation prior to refinancing. Information on the income level, the debt level, the company's position against competition and other information considered relevant must be included in said diagnosis.
Comparative analysis of the economic and financial situation of the debtor company according to the original loan contract and the refinancing contract.
Conditions of the loan refinancing, which must include the payment schedule, interest rate, terms, guarantees, among others.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
4. Detail of commitments assumed by the debtor company, specifying the monthly and quarterly goals.
5. Objectives, conditions and use of additional credit.
6. Analysis of all debtor obligations not included in the program, specifying the effect of the payments of said obligations on the viability of the refinancing.
7. Other documents that are required within the framework of the debt refinancing.
II. Minimum information and documentation required for the analysis of the debt to be refinanced within the framework of the FOPE Program

Diagnosis of the debtor's situation prior to refinancing. Information on the income level, the debt level, the company's position against competition and other information considered relevant must be included in said diagnosis.
Comparative analysis of the economic and financial situation of the debtor company according to the original loan contract and the refinancing contract, which must incorporate management aspects. Said analysis must contain:
a) Assumptions used to make projections of the financial statements, the debtor's cash flow and the present value of principal and interest. b) Sensitivity analysis of the debtor company's payment capacity. c) Analysis and recommendations to determine the conditions of the loan refinancing, such as the interest rate, the reductions made, the term changes and additional facilities.
Conditions of the loan refinancing, which must include the payment schedule, interest rate, terms, guarantees, among others.
Detail of commitments assumed by the debtor company, specifying the monthly and quarterly goals.
Objectives, conditions and use of additional credit.
Analysis of all debtor obligations not included in the program, specifying the effect of the payments of said obligations on the viability of the refinancing.
Other documents that are required within the framework of debt refinancing.
Likewise, within rubric IV "Reports referring to credit operations" of Annex 2 of Circular SBS No. B-2125-2003, F-0465-2003, CM-0312-2003, CR-0181-2003, EAF-0216-2003, EDPYME-0104-2003, FOGAPI-0018-2003, the following information related to the RFA and FOPE programs will be included:
a) Amount and provisions constituted and required for the original debt; b) Amount and provisions constituted and required for the debt refinanced by the supervised company and the Deductions, upon agreeing the refinancing; c) Amount and provisions constituted and required for the debt refinanced by the supervised company; d) Treatment of Deductions; e) Amount and provisions constituted and required for short-term financing; f) Copy of the Agreement signed between the financial system companies, to consolidate the obligations of a single debtor into one of them, prior to portfolio transfer, or other alternative mechanism, if applicable; and, g) Other information that the unit in charge of the evaluation considers necessary to include.

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760
ANNEX A
MODIFICATIONS TO THE ACCOUNTING MANUAL FOR COMPANIES OF THE FINANCIAL SYSTEM
I. Amend Chapter III "Chart of Accounts" and Chapter IV "Description and Dynamics of Accounts" of the Accounting Manual for Companies of the Financial System as follows:

Amend the description of sub-account 1401.04 "Mortgage loans for housing" according to the following text:
"Registers loans granted to natural persons for the acquisition, construction, repair, remodeling, expansion, improvement and subdivision of own housing, provided that such loans are granted secured by duly registered mortgages, whether these loans are granted by the conventional mortgage loan system or by any other system of similar characteristics, in accordance with the criteria established in the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions. Loans for the acquisition or construction of own housing are included which at the date of the operation, because they are future goods, goods in the process of independization or goods in the process of title registration, it is not possible to constitute an individualized mortgage deriving from the loan granted. Credits resulting from real estate capitalization contracts are also registered in this sub-account, provided that such operation has been destined for the acquisition or construction of own housing; as well as MIVIVIENDA mortgage loans. For the analytical accounts of this sub-account, the description of the analytical accounts of sub-account 1401.01 "Commercial Loans" is applicable, where pertinent.
For the purpose of registering loans for the acquisition or construction of own housing which at the date of the operation, because they are future goods, goods in the process of independization or goods in the process of title registration, it is not possible to constitute an individualized mortgage deriving from the loan granted, the following analytical sub-accounts are incorporated into sub-account 1401.04 "Mortgage loans for housing", analytical account 1401.04.06 "Loans":
1401.04.06.01 Loans with registered mortgage
1401.04.06.02 Loans without registered mortgage
Countercyclical provisions shall be registered in the analytical accounts: 1409.01.02, 1409.02.02, 1409.03.02 and 1409.04.02 corresponding to mandatory generic provisions.
When the deactivation of the countercyclical rule occurs in accordance with the norms issued by the Superintendency, companies shall reassign the amount product of the

Los Laureles No. 214 - Lima 27 - Peru Tel. : (511)2218990 Fax: (511) 4417760 reversal of provisions for the countercyclical component for the constitution of other mandatory provisions or must be maintained in the analytical accounts 1409.01.02, 1409.02.02, 1409.03.02 and 1409.04.02. In no case may companies generate profits from the reversal of said provisions.
4. For the purpose of constituting countercyclical provisions on revolving consumer loans as indicated in Annex I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, the following accounts and analytical sub-accounts must be considered:
1401.03.01 "Contracted current account advances", 1401.03.02 "Contracted credit cards", 1401.03.04 "Current account overdrafts", 1401.03.06.01 "Revolving loans" and 1401.03.20.02 "Credit card".
5. For the purpose of constituting countercyclical provisions on consumer loans that have contracts referred to payroll discount agreements that are eligible, as indicated in Annex I of the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions, the analytical sub-account 1401.03.06.04 "Non-revolving loans granted under eligible agreements" must be considered.
II. Amend Chapter V "Complementary Information" of the Accounting Manual for Companies of the Financial System, as follows:

Replace the formats of Annex 5 "Debtor Classification and Provisions Report", Annex No. 5-A "Summary of Countercyclical Provisions", Annex 5-B "Debtor and Provisions Classification Report - Credit Portfolio Transfer", and Annex 5-C "Classification Report of the Portfolio Transferred in Trust", as well as their methodological notes.
Incorporate Annex 5-C' called "Summary of Countercyclical Provisions of the Portfolio Transferred in Trust" whose submission deadline is quarterly.
Amend Annex No. 6 "Credit Report of Debtors" as follows:
Incorporate the analytical sub-accounts 1401.04.06.01 and 1401.04.06.02 in the accounting accounts.

Literal substituted by SBS Resolution No. 14353-2009 of 10/30/2009. ↩
Numeral incorporated by SBS Resolution No. 1782-2015 of 03/19/2015. ↩
Literal substituted by SBS Resolution No. 14353-2009 of 10/30/2009. ↩
Literal incorporated by SBS Resolution No. 1802-2014 of 03/18/2014. ↩
Literal incorporated by SBS Resolution No. 1782-2015 of 03/19/2015. ↩
Paragraph substituted by SBS Resolution No. 14353-2009 of 10/30/2009. ↩
Paragraph substituted by SBS Resolution No. 14353-2009 of 10/30/2009. ↩
Provision incorporated by SBS Resolution No. 14353-2009 of 10/30/2009. ↩
Provision incorporated by SBS Resolution No. 1802-2014 of 03/18/2014. ↩
Provision incorporated by SBS Resolution No. 1802-2014 of 03/18/2014. ↩
Provision incorporated by SBS Resolution No. 1465-2015 of 02/26/2015. ↩
Provision incorporated by SBS Resolution No. 1782-2015 of 03/19/2015. Errata of SBS Resolution No. 1782-2015, published in the newspaper El Peruano on date 03/26/2015. ↩
Provision incorporated by SBS Resolution No. 3155-2020 of 12/17/2020 and Repealed as of 12.25.2021 by SBS Resolution No. 3922-2021 of 12/23/2021. ↩
Provision Incorporated by SBS Resolution 03922-2021 of 12.23.2021 published on 12.24.2021, effective as of 12.25.2021. ↩

SBS Resolution No. 11356-2008: Regulation for the Evaluation and Classification of the Debtor and Requirement of Provisions

Lineage: Amended

Timeline

SBS Resolution No. 11356-2008: Regulation for the Evaluation and Classification of the Debtor and Requirement of Provisions

Footnotes

Lineage: Amended

Timeline