SBS Resolution No. 1882-2014: Modifies the Regulations for Trusts and Fiduciary Services Companies, the Regulations for Debtor Evaluation and Classification and Provision Requirements, and other norms

Los Laureles Nº 214 - Lima 27 - Peru Tel.: Tel.: (511) 6309000 Fax: (511) 6309239 Lima, March 26, 2014 S.B.S. Resolution No. 1882-2014 The Superintendent of Banking, Insurance and Private Pension Fund Administrators:
WHEREAS:
That, the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its modifying norms, hereinafter General Law, establishes in Chapter II of Title III of Section Two, among other aspects, the general norms for carrying out trust operations; That, by means of SBS Resolution No. 1010-99 and its modifying and complementary norms, the Regulations for Trusts and Fiduciary Services Companies were approved, which establish, among other aspects, the provisions applicable to financial and insurance system companies participating in trusts as settlors and/or trustees; That, by means of SBS Resolution No. 084-2000 and its modifying norms, the norms for the accounting treatment of trusts and trust commissions were approved; That, by means of SBS Resolution No. 11356-2008 and its modifying norms, the Regulations for the Evaluation and Classification of Debtors and the Requirement for Provisions were approved; That, by means of SBS Resolution No. 1027-2001, the Regulations for Financing Contracts with Credit Portfolio Guarantee were approved; That, by means of SBS Resolution No. 895-98 and its modifying and complementary norms, the Accounting Manual for Financial System Companies was approved, hereinafter Accounting Manual; That, by means of SBS Resolution No. 9-2010, Report No. 31 called “Detail of Trusts by Contract” was incorporated into Chapter V of the Accounting Manual; Los Laureles Nº 214 - Lima 27 - Peru Tel.: Tel.: (511) 6309000 Fax: (511) 6309239 That, by means of SBS Resolution No. 348-95 and its modifying and complementary norms, the Chart of Accounts for Insurance System Companies was approved, hereinafter Chart of Accounts; That, by means of SBS Resolution No. 11699-2008 and its modifying norms, the Internal Audit Regulations were approved, which establish the requirements and internal audit standards for financial system companies and insurance companies, with the purpose of providing adequate protection to savers and policyholders; That, it is necessary to introduce modifications to the aforementioned norms, with the purpose of simplifying trust transfer processes, as well as modifying prudential requirements based on supervisory experience; That, in order to gather opinions from the general public regarding the proposed modifications to the financial system regulations, the draft resolution was pre-published on the Superintendency's electronic portal, under the provisions of Supreme Decree No. 001-2009-JUS; Having the approval of the Assistant Superintendencies of Private Pension Fund Administrators and Insurance, Banking and Microfinance, Risks, Economic Studies and Legal Advisory; and, In use of the powers conferred by numerals 7, 9 and 13 of article 349º of the General Law; RESOLVES:
Article One.- Modify the Regulations for Trusts and Fiduciary Services Companies, approved by SBS Resolution No. 1010-99 and its modifying norms, in the following terms:

1. Replace in Title I, article 1° as follows:
   “Article 1°. – Definitions
   For the purposes of this norm, consider the following definitions:
   a) Assets: Movable and immovable property established in articles 885º and 886º of the Civil Code, respectively. b) Days: Calendar days, unless specified as business days. c) Adjudicated and recovered assets: Those assets defined in the Regulations for the Treatment of Adjudicated and Recovered Assets and their Provisions, approved by SBS Resolution No. 1535-2005 and its modifying norms. d) Credit portfolio: Composed of direct credits, indirect credits, written-off credits and other operations of a similar nature; or by the rights linked to them, including, but not limited to, cash flows. Los Laureles Nº 214 - Lima 27 - Peru Tel.: Tel.: (511) 6309000 Fax: (511) 6309239 e) Fiduciary agent: Natural person designated by the trustee for the administration of the trust property. f) Economic group: That defined in the Special Norms on Linkage and Economic Group, approved by SBS Resolution No. 445-2000 and its modifying norms. g) General Law: General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law Nº 26702 and its modifying norms. h) Coverage mechanisms: Means intended to guarantee the fulfillment of obligations that the trust property contracts with the holders of instruments issued with its backing or that of a third party, among which are the subordination of the issuance, overcollateralization, excess cash flows, portfolio substitution, guarantees, insurance policies, credit line agreements and guarantee trusts. i) Accounting Manual: Accounting Manual for Financial System Companies approved by SBS Resolution No. 895-98 and its modifying and complementary norms. j) Enhancer: Natural or legal person who grants additional guarantees for the payment of the rights conferred by the instruments issued under the securitization trust. k) Linkage: In accordance with the provisions of article 202° of the General Law, and as specified in the Special Norms on Linkage and Economic Group approved by SBS Resolution No. 445-2000 and its modifying norms, as well as in numeral 6 of Circular B-2148-2005, F-0488-2005, S-0613-2005, CM-0335-2005, CR0204-2005, EAF-0231-2005, EDPYME-0119-2005, FOGAPI-0026-2005 and its modifying norms. l) Chart of Accounts: Chart of Accounts for Insurance System Companies approved by SBS Resolution No. 348-95 and its modifying and complementary norms. m) Servicer: Person responsible for the custody, collection, sale, maintenance, replacement and/or other acts related to the assets that make up the trust property, in accordance with the provisions of the trust deed. n) Superintendency: Superintendency of Banking, Insurance and Private Pension Fund Administrators. o) Disposal value: Value assigned to the assets subject to the guarantee trust for purposes of its execution, in case of non-fulfillment of the obligation or obligations that are backed by said trust.”
2. Eliminate in Title II, the second paragraph of article 2°.
3. Replace in Title II, article 14° as follows:
   “Article 14°. Accounting record of trust properties The trustee must record the operations of each trust property in accordance with the accounting criteria contemplated in the General Business Chart of Accounts approved by Resolution No. 043-2010-EF/94 of the Accounting Standards Council. In the case of trusts where the settlor is a company under the control and supervision of the Superintendency, the trustee must record the operations of each trust property in accordance with the accounting criteria applicable to the settlor, except for securitization trusts that are within the framework of the Securities Market Law, which will adhere to the provisions of the third paragraph of this article. The trustee must prepare the Statement of Financial Position and the Statement of Comprehensive Income for each trust property in accordance with the formats established by the Superintendency of Securities Market. In the case of securitization trusts that are within the framework of the Securities Market Law, the recording of the property's operations, as well as the financial statements, will adhere to the norms dictated by the Superintendency of Securities Market”.
4. Replace in Chapter III of Title III, article 20° as follows:
   “Article 20°. - Securitization companies
   To obtain authorization for the organization of securitization companies that are subsidiaries of financial system companies, the provisions of the second paragraph of article 17° of the Regulations for the Constitution, Reorganization and Establishment of Companies and Representatives of the Financial and Insurance Systems, approved by SBS Resolution No. 10440-2008, shall apply. Likewise, in accordance with the provisions of article 35° of the General Law, it is the responsibility of the Superintendency of Securities Market to grant the corresponding operating authorization to securitization companies.”
5. Replace the denomination of Chapter I of Title IV with “Participation of supervised companies in trusts and authorization of the Superintendency”.
6. Incorporate into Chapter I of Title IV, article 23-A° as follows:
   “Article 23-Aº.- Participation as trustees
   Multiple operations companies included in literal A of article 16º of the General Law, the Financial Development Corporation (COFIDE), fiduciary services companies, insurance companies, reinsurance companies and companies or institutions supervised by this Superintendency whose purpose is to guarantee, support, promote and advise micro and small enterprises in any economic sector, may act as trustees.”
7. Replace in Chapter I of Title IV, article 24° as follows:
   “Article 24°. - Participation as settlors
   For companies included in article 16º of the General Law to act as settlors, they must request prior authorization from this Superintendency in any of the following cases:
   a) When the beneficiary is directly or indirectly linked to the settlor; b) When the trusts are composed of a credit portfolio, unless they are written-off credits or credits classified as loss and fully (100%) provisioned; or, c) When the trusts are composed of adjudicated, recovered assets and/or investments, unless they are fully provisioned. In the case of insurance and reinsurance companies, when trusts are composed of investments, regardless of whether said investments are fully provisioned, authorization from this Superintendency will be required. In cases where authorization is not required, the settlor must notify this Superintendency of the execution of the respective contract within five (5) business days following said execution, attaching the information and documentation indicated in the following article.”
8. Replace in Chapter II of Title IV, article 28° as follows:
   “Article 28°. – Rights of settlors
   Settlors must recognize and record accounting-wise the rights generated in their favor according to the trust deed, in accordance with the provisions established in the Accounting Manual and Chart of Accounts, as applicable.”
9. Replace in Chapter II of Title IV, article 29° as follows:
   “Article 29°. – Equity requirements
   Settlors that are companies included in article 16º of the General Law, for the rights recognized accounting-wise in accordance with the provisions established in the Accounting Manual and Chart of Accounts, as applicable, must calculate the effective equity requirements according to the risk represented by such rights. As the rights of the settlors are amortized, the amortized amount will be deducted for the calculation of equity requirements. When it is not possible to identify or assign the amortized amount to a specific asset, said amount will be proportionally deducted from all assets included in the trust property.”
10. Replace in Chapter II of Title IV, article 30° as follows:
    “Article 30°. – Provisions
    Settlors that are companies included in article 16º of the General Law, for the rights recognized accounting-wise in accordance with the provisions established in the Accounting Manual and Chart of Accounts, as applicable, must constitute provisions according to the risk represented by such rights. As the rights of the settlors are amortized, the amortized amount will be deducted for the calculation of provisions. When it is not possible to identify or assign the amortized amount to a specific asset, said amount will be proportionally deducted from all assets included in the trust property.”
11. Replace in Chapter II of Title IV, article 31° as follows:
    “Article 31º - Credit concentration limits and other limits Settlors that are companies included in article 16º of the General Law, for the rights recognized accounting-wise in accordance with the provisions established in the Accounting Manual and Chart of Accounts, as applicable, must consider such rights for the purpose of calculating the limits indicated in articles 201º, 202º, 204º, 205º, 206º, 207º, 208º, 209º and 211º of the General Law. In the case of insurance and reinsurance companies, the Superintendency will establish other limits, in accordance with the characteristics of the trust. As the rights of the settlors are amortized, the amortized amount will be deducted from the calculation of the limits indicated in the preceding paragraphs. When it is not possible to identify or assign the amortized amount to a specific asset, said amount will be proportionally deducted from all assets included in the trust property.”
12. Replace in Chapter II of Title IV, article 32° as follows:
    “Article 32°. –Provision for adjudicated or recovered assets Companies included in article 16º of the General Law, that constitute trusts with adjudicated, received in payment or recovered assets, for the rights recognized accounting-wise in accordance with the provisions established in the Accounting Manual, must constitute provisions according to the risk represented by such rights. Settlors must inform this Superintendency of the status of provisions through Annex No. 4-A of the Accounting Manual.”
13. Replace in Chapter II of Title IV, numeral 2 of article 33° as follows:
    “ Article 33°.- Coverage mechanisms
    (…)
14. In the case of companies included in article 16° of the General Law, for coverage mechanisms that are recorded accounting-wise as assets and contingencies, they must calculate effective equity requirements according to the risk represented by such assets and contingencies. Insurance companies will weight for credit risk only those coverage mechanisms that generate credit risk in accordance with the provisions of article 304° of the General Law.”
15. Replace in Chapter II of Title IV, article 34° as follows:
    “Article 34°.- Debtor Credit Report
    Companies included in article 16º of the General Law, that participate as settlors, in trusts in which the trust property is composed of assets subject to reporting in the Debtor Credit Report (RCD), and provided that the settlor has involved a write-off of the credit portfolio in accordance with the accounting norms established in the Accounting Manual, will continue to submit debtor information in an additional RCD, in any of the following cases:
    a) When they are securitization trusts of credit portfolios. b) When the beneficiary is a person linked to the settlor. c) If rights as settlor are maintained. d) When the company has granted any coverage mechanism.
    In cases where the RCD must be submitted, it must be submitted monthly, with updated information, until the respective debts are canceled, in accordance with the instructions of the Risk Center of this Superintendency.
    It is presumed that the company obliged to submit the RCD is the settlor company, unless the trust contracts stipulate that it is the trustee company or the servicer if it is a company supervised by this Superintendency and obliged to submit the RCD. If it is subsequently decided to change the party obliged to submit the RCD, such change must be reported in writing to this Superintendency no later than five (5) business days after the modification occurs, attaching a copy of the document that incorporates said change into the trust contract. The Risk Center of this Superintendency will give companies instructions to proceed with the requested change. In the event that the settlor is in liquidation and dissolution process, the trustee of the respective trust will be responsible for submitting the RCD to this Superintendency. The trust contract entered into by companies must include the necessary stipulations for compliance with the provisions of this article.”
16. Replace in Chapter II of Title IV, article 35° as follows:
    “Article 35°.- Information on weighting and provisions for settlor rights and contingencies For the purposes of article 29º and numeral 2 of article 33º of this norm, settlors or enhancers must report the credit risk weighting of assets and contingencies in Report No. 2-A1 “Assets and Contingencies Weighted by Credit Risk – Standard Method” or No. 2-A2 “Assets and Contingencies Weighted by Credit Risk – Internal Ratings Based Methods”, as applicable, of the Accounting Manual, in accordance with the Regulations for the Effective Equity Requirement for Credit Risk. Likewise, if applicable, settlors must report the provision applicable to assets transferred in trust in the Annexes of the Accounting Manual called Annex No. 5-C “Report on Classification of Portfolio Transferred in Trust” and Annex No. 5-C’ “Summary of Procyclical Provisions for Portfolio Transferred in Trust”. In the case of insurance companies, these will adhere to the instructions established by this Superintendency. Trust contracts must contain the necessary stipulations for settlors to comply with the provisions of this article.”
17. Replace in Title V, article 38° as follows:
    “Article 38°. - Constitution
    The constitution of fiduciary services companies is carried out in accordance with the provisions of the Regulations for the Constitution, Reorganization and Establishment of Companies and Representatives of the Financial and Insurance Systems approved by SBS Resolution No. 10440-2008.”
18. Replace in Title V, article 39° as follows:
    “Article 39°. - Concentration and operating limits The provisions on concentration and operating limits established in the General Law, except for the global limit established in article 199°, will not be applicable to fiduciary services companies. The Superintendency may establish additional equity requirements and operating limits it deems necessary.”
19. Replace in Title V, article 40° as follows:
    “Article 40°. - Accounting record of operations Fiduciary services companies must record their operations in accordance with the Accounting Manual.”
20. Replace in Title V, article 41° as follows:
    “Article 41°. - Submission of information to the Superintendency Fiduciary services companies must submit financial information to this Superintendency in accordance with the provisions of the Accounting Manual.
    Likewise, fiduciary services companies must submit the information required by Circular B-2108-2002, F-0447-2002, CM-0294-2002, EAF-0206-2002, CR-0163-2002, EDPYME-0092- 2002, FOGAPI-0011-2002 and ESF-001-2002, as well as any information required by specific norms issued by the Superintendency.”
21. Incorporate as Fourth Final Provision, the following:
    “Fourth.- Application to Banco de la Nación, Banco Agropecuario (AGROBANCO), Corporación Financiera de Desarrollo (COFIDE) and Fondo MIVIVIENDA The provisions of these Regulations are applicable to Banco de la Nación, Banco Agropecuario (AGROBANCO), Corporación Financiera de Desarrollo (COFIDE) and Fondo MIVIVIENDA, as long as they do not conflict with the specific regulations governing their actions.”
22. Incorporate as Fifth Final Provision, the following:
    “Fifth.- Guarantee trusts constituted on credits within the framework of Circular N°017-2011-BCRP

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The provision contained in Article 24 shall not apply to companies included in letter A of Article 16 of the General Law, which are authorized to collect deposits from the public, as well as to the Agropecuario Bank, when they participate in guarantee trusts over credit rights, within the framework of repurchase agreement operations regulated by Circular No. 017-2011-BCRP, provided that the Central Reserve Bank of Peru is the acquirer of the participation certificates. Such trust operations must be communicated to this Superintendency on the next business day following their execution.

Regardless of any applicable sanctions, operations carried out without observing the above paragraph shall be considered by this Superintendency as not carried out for accounting, limit, provision, equity requirement, and other prudential measures established in the General Law and in the provisions issued by this Superintendency.”

22. Incorporate as the Sixth Final Provision, the following:

“Sixth.- Transparency on guarantee trust contracts

Disclosure in financial statements

Companies shall disclose through notes to quarterly financial statements, information on the assets included in guarantee trusts, in the capacity of settlors, during the validity of the trust contracts. The disclosure shall be made in accordance with the instructions established in the Accounting Manual for Financial System Companies and the Chart of Accounts for Insurance System Companies, as applicable.

Publication

Financial system companies that enter into or agree to guarantee trust contracts over assets, in the capacity of settlors, in support of received financing, must publish information on such contracts, jointly with the Statement of Financial Position and the Statement of Comprehensive Income, corresponding to quarterly periods, in accordance with the instructions established in the Accounting Manual for Financial System Companies.”

Article Second.- For the purposes of what is established in the second paragraph of Article 5 of the Regulation of Contracts for Financing with Portfolio Collateral approved by SBS Resolution No. 1027-2001, the publication shall be carried out in accordance with the instructions established in the Accounting Manual for Financial System Companies.

Article Third.- Modify the Regulation for the Evaluation and Classification of Debtors and the Provision Requirement approved by SBS Resolution No. 11356-2008 and its modifying norms, according to the following:

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Substitute clause ii. of letter g) of item 5.2 of Chapter I “Concepts and Principles for the Evaluation and Classification of Debtors and the Provision Requirement” with the following text:

“ ii. Credit portfolios that have been transferred through trust or other similar contract, provided that in accordance with the Regulation of Trust and Fiduciary Services Companies, there is an obligation to continue reporting in the RCD.”

Article Fourth.- Modify the Annex “Planned Activities” of the Internal Audit Regulation, approved by SBS Resolution No. 11699-2008 and its modifying norms, according to the following:

Incorporate as items 14, 19 and 9 of section I “Companies indicated in letters A and B of Article 16 of the General Law (except guarantee and surety companies), Banco de la Nación, Banco Agropecuario, Mivivienda Fund and Development Financial Corporation (COFIDE)”, section II “Insurance and/or Reinsurance Companies” and section IV “Guarantee and surety companies”, respectively, the following text:

“Evaluation of trust operations”

Article Fifth.- Modify the Accounting Manual for Financial System Companies, according to the following:

1. Modify Chapter II “Financial Statements and Complementary Information”, according to the following:

a) Incorporate in Part I “Financial Statements”, in letter B “Notes to the Financial Statements”, subsection 4 “Specific Notes” as item 11 the following:

“11. ASSETS GIVEN AS COLLATERAL

The entity shall disclose information on:

a) assets given as collateral; and,

b) assets given through guarantee trusts, in the capacity of settlors.

This disclosure shall be additionally included in quarterly financial statements.

For the purposes of the above, the company must disclose at least the information shown in Annex 1 attached, which forms part of this note.”

b) Substitute in Part I “Financial Statements”, in letter B “Notes to the Financial Statements”, subsection 4 “Specific Notes” items 11 Equity and 12 Subsequent Events, by items 12 Equity and 13 Subsequent Events, respectively.

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c) Substitute in Part IV “Publication of Financial Information”, the subsection “Information to be published”, according to the following text:

“Information to be published

Companies must publish, jointly, the Statement of Financial Position, the Statement of Comprehensive Income, Report No. 2-D “Requirements of Effective Equity for Credit, Market and Operational Risks and Calculation of the Global Limit referred to in the first paragraph of Article 199° and the Twenty-Fourth Transitory Provision of the General Law”, as well as assets given as collateral in support of received financing, corresponding to quarterly periods in the Official Journal and in a newspaper of wide national circulation. The aforementioned publications must be made maintaining adequate proportions and on the same date. For the purposes of publishing Report No. 2-D, companies may omit the sections for which they do not report information.

For publication purposes, the Statement of Financial Position (Form A) and the Statement of Comprehensive Income (Forms B-1 and B-2), must contain only total balances; and, those corresponding to the year-end closing, additionally, must be comparative with those of the previous year.

For the purposes of publishing assets given as collateral in support of received financing, the following format shown in Annex 2 attached, which forms part of this subsection, must be considered.”

2. Modify Chapter III “Chart of Accounts” and Chapter IV “Description and Dynamics of Accounts”, according to the following:

Eliminate in Chapter III “Chart of Accounts” and Chapter IV “Description and Dynamics of Accounts”, the analytical account 1504.04.01 “Guarantee Trust”, as well as its analytical sub-accounts, whose balances will be reclassified to the analytical sub-account 1504.04.09.09 “Other Contracts”.

Article Sixth.- Modify the Chart of Accounts for Insurance System Companies, according to the following:

1. Modify Chapter I “General Provisions”, in the subsection of Minimum Notes to Annual Financial Statements, according to the following:

a) Incorporate as item 12 the following:

“12. ASSETS GIVEN AS COLLATERAL

The entity shall disclose information on:

a) assets given as collateral; and,

b) assets given through guarantee trusts, in the capacity of settlors.

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This disclosure shall be additionally included in quarterly financial statements.

For the purposes of what is stated in the previous paragraph, the company must disclose at least the information shown in Annex 3 attached.”

b) Modify items 12 Equity and 13 Subsequent Events, by items 13 Equity and 14 Subsequent Events, respectively.

2. Eliminate in Chapter III “Accounting Table and Chart of Accounts” and Chapter IV “Description and Dynamics”, the analytical account 1304.04.02 “Guarantee Trusts”, whose balance will be reclassified to the analytical account 1304.04.03 “Others”.

Article Seventh.- Modify the Single Text of Administrative Procedures of the Superintendency of Banks, Insurance and Private Pension Fund Administrators, approved by SBS Resolution No. 3082-2011 and its modifying norms, in administrative procedure No. 35 “Authorization for participation as settlors of companies included in Article 16 of the General Law, Banco de la Nación, Banco Agropecuario (AGROBANCO), Development Financial Corporation (COFIDE) and MIVIVIENDA Fund”, whose modified text is attached to this resolution and is published as provided by Supreme Decree No. 004-2008-PCM, regulation of Law No. 29091. (Institutional portal: www.sbs.gob.pe).

Article Eighth.- Repeal the norms for the accounting treatment of trust and trust commissions, approved by Article One of SBS Resolution No. 084-2000.

Article Ninth.- Expand the scope of application of SBS Resolution No. 9-2010 that incorporates Report No. 31 “Detail of Trusts by Contract”, to companies included in letter A of Article 16 of the General Law, to guarantee and surety companies, to Banco de la Nación, to Banco Agropecuario (AGROBANCO) and to the MIVIVIENDA Fund.

Article Tenth.- This resolution shall enter into force from June 1, 2014, except for the modifications to the Accounting Manual and Chart of Accounts established in Articles Fifth and Sixth of this resolution, which shall govern from the information corresponding to the month of June 2014, as well as what is established in Article Ninth which shall govern from the information corresponding to the second quarter of the year 2014.

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Article Eleventh.- The new provisions established for the derecognition of assets referred to in the Regulation of Trust and Fiduciary Services Companies, as well as the Accounting Manual and Chart of Accounts, shall govern for operations carried out from June 1, 2014.

Register, communicate and publish,

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ANNEX 1

CREDIT PORTFOLIO GIVEN AS COLLATERAL 1/

Contract 2/

Book Value of Credit Portfolio

Debt that Backs 4/

S/. (000)

Capital

S/. (000)

Accrued Earnings

of Active Credits

S/. (000)

Provisions

S/. (000)

Total 3/

S/. (000)

Contract 1

Contract 2

:

:

TOTAL

1/ Includes guarantee trusts constituted over credit portfolios, in the capacity of settlor.

2/ Indicate by contract.

3/ Corresponds to the sum of capital, accrued earnings of active credits, minus provisions.

4/ Consider only the capital balance of the debt that backs.

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OTHER ASSETS GIVEN AS COLLATERAL 1/

ASSETS 2/ Book Value 3/

S/. (000)

Debt that

Backs 4/

S/. (000)

Contract 1

Contract 2

:

Total

1/ Consider assets other than credit portfolio. Includes guarantee trusts constituted over assets other than credit portfolio, in the capacity of settlors.

2/ Discriminate in each contract, the type of asset (investments, adjudicated assets, property, plant and equipment, among others).

3/ Consider net book value.

4/ Consider only the capital balance of the debt that backs.

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ANNEX 2

ASSETS GIVEN AS COLLATERAL FOR RECEIVED FINANCING 1/

Concept Amount of

Assets

S/. (000)

Counterparty

of

Financing

Term of

Contract

Debt that

Backs

S/. (000)

3/

Legislation Jurisdiction Other

1. Received financing with collateral

of credit portfolio 2/

2. Received financing with collateral

of other assets 2/

Total

1/ Includes company assets transferred through guarantee trusts.

2/ Indicate description by contract.

3/ Consider only the capital balance of the debt that backs.

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ANNEX 3

“Annex 6

Note referred to assets given as collateral

ASSETS GIVEN AS COLLATERAL 1/

ASSETS 2/ Book Value 3/

S/. (000)

Debt that

Backs 4/

S/. (000)

Contract 1

Contract 2

:

Total

1/ Includes guarantee trusts constituted over assets, in the capacity of settlors.

2/ Discriminate in each contract, the type of asset (investments, property, plant and equipment, among others).

3/ Consider net book value.

4/ Consider only the capital balance of the debt that backs.”