SBS Resolution No. 1905-2022: Amending, Postponing Entry into Force of Various Modifications, and Substituting Annexes of the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)6309000 Fax: (511) 6309239 Lima, June 10, 2022 SBS RESOLUTION No. 01905-2022

The Superintendent of Banking, Insurance, and Private Pension Fund Administrators

CONSIDERING:

That, by SBS Resolution No. 11823-2010 and its amendments, the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, hereinafter the Consolidated Supervision Regulation, was approved;

That, by SBS Resolution No. 1378-2021, modifications were made to the Consolidated Supervision Regulation to adjust the calculation of consolidated equity to international standards; as well as, based on supervisory experience, to improve its consistency with provisions applicable to individual information, and to improve the analysis of information submitted by supervised companies;

That, it is necessary to grant a longer period to apply the new adjustments to the computation of consolidated equity from the portion coming from non-controlling interests of the companies that are part of the consolidable group, as well as to make adjustments to some Annexes for a more adequate report;

Having the approval of the Adjunct Superintendencies of Banking and Microfinance, Insurance, Risks, Economic Studies, and Legal Advice; and,

In exercise of the powers conferred by numbers 7, 9, and 13 of article 349 of 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 amendments, and based on the exceptional conditions established in article 14 of Supreme Decree No. 001-2009-JUS and its amendments;

RESOLVES:

Article First.- Modify the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010 and its amendments, according to the following:

1. Substitute letter b) of the section "Complementary Information" of subsection B) of article 20° "Information required for consolidated supervision", according to the following:

b) Calculation of equity, quarterly, according to Annexes No. 8 and 8-D

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)6309000 Fax: (511) 6309239 2

2. Substitute article 25° "Manual of Consolidation of Financial Statements", according to the following:

"The internal policies and guidelines on the process of consolidation of financial statements of the consolidable group and, when applicable, the financial group, must be included and updated in a Manual of Consolidation of Financial Statements, which will collect the aspects indicated in this Regulation on the matter. This Manual must be approved by the Board of Directors of the company responsible for submitting the information or, if applicable, by the Board of Directors of the parent company. The company responsible for submitting information will be responsible for disseminating the Manual among the companies in the group and making it available to the Superintendency."

3. Substitute article 27° "Manual of Integrated Risk Management of the Financial Group" and its denomination, according to the following:

"Article 27°.- Manual of Integrated Risk Management

The internal policies and guidelines on risk management must be included and updated in a Manual for the Integrated Risk Management of the Consolidable Group or, when applicable, of the Financial Group, which will collect the aspects indicated in this Regulation on the matter and what is established in the Regulation for Integrated Risk Management in force, in the aspects that are applicable. This Manual must be approved by the Board of Directors of the company responsible for submitting the information or, if applicable, by the Board of Directors of the parent company. The company responsible for submitting information will be responsible for disseminating the Manual among the companies in the group and making it available to the Superintendency."

Article Second.- Postpone the entry into force of the following modifications to the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010, made by SBS Resolution No. 1378-2021, until January 1, 2023:

1. The modification of number 3 of letter C of article 6° "Calculation of consolidated equity of the consolidable group", mentioned in number 2 of article first of SBS Resolution No. 1378-2021.

2. The incorporation of number 5 in letter C of article 6° "Calculation of consolidated equity of the consolidable group" of the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010 and its amendments, mentioned in number 2 of article first of SBS Resolution No. 1378-2021.

3. The incorporation of number 5 in letter C of article 10° "Calculation of consolidated equity of the financial group" of the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010 and its amendments, mentioned in number 4 of article first of SBS Resolution No. 1378-2021.

Article Third.- Substitute Annexes No. 2, 2-A, 2-B, 3.1, 3.1-A, 3.1-B, 6, 6-A, 6-B, 7, 7-A, 7-B, 7.1, 7.1-A, 7.1-B, 8-B, 8-C, 8-D, and 14-A of the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010 and its amendments, which are published on the institutional Portal (www.sbs.gob.pe), in accordance with what is established in Supreme Decree No. 001-2009-JUS and its amendments.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)6309000 Fax: (511) 6309239 3

Article Fourth.- This Resolution will enter into force from the day following its publication.

Register, communicate, and publish,

MARIA DEL SOCORRO HEYSEN ZEGARRA SUPERINTENDENT OF BANKING, INSURANCE, AND AFP