SBS Resolution No. 1960-2026: Amend the Rules for Coverage, Resources and Payment of Covered Deposits of the Deposit Insurance Fund

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511)6309000 Lima, August 03, 2026

SBS RESOLUTION
No. 01960-2026

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

CONSIDERING:

That in Chapter III of Title I of Section Two of the General Law of the Financial System and of the Insurance System and the Organization of the Superintendence of Banking and Insurance - Law No. 26702 and its modifying norms, hereinafter General Law, provisions related to the object of the Deposit Insurance Fund are established, as well as the resources that compose it and the amount of the premiums that members of the Fund must pay, among others;

That Article 148 of the General Law provides that the amount of the premiums to be paid by the members of the Fund will be determined based on the risk classification referred to in Article 136 of said law, and that these may be varied by the Superintendence with the prior opinion of the Central Reserve Bank;

That, through SBS Resolution No. 0657-99 and its modifying norms, the Rules for the coverage, resources and payment of covered deposits of the Deposit Insurance Fund were approved, which establish the regulation of the functioning and operations of said Fund;

That the Deposit Insurance Fund plays a fundamental role in the protection of depositors and in maintaining the stability of the financial system, making it necessary to ensure its sustainability and sufficiency in the long term;

That international experience shows a trend towards the implementation of objective levels of the size of deposit insurance funds with explicit targets for a target reserve ratio, establishing in many cases bands within which said ratio must be located with adjustment mechanisms in the calculation of premiums based on said ratio;

That it is necessary to align the scheme of the Deposit Insurance Fund with international best practices, establishing a target reserve ratio that allows ensuring the sufficiency of the Fund in the face of financial stress events and efficiency in the use of accumulated resources;

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

That, in this context, and taking into account that the premiums to be paid by the entities must be consistent with the target ratio of the fund and its convergence trajectory, it is necessary to review the premium scheme of the Deposit Insurance Fund, in order to incorporate calculation conditions that respond to said objective in accordance with criteria of efficiency, sufficiency and financial stability;

That, through Letter No. 0039-2026-BCRP, the Central Reserve Bank of Peru expressed its opinion on the modification of the premium payment scheme to the Fund;

Having the approval of the Adjunct Superintendencies of Banking and Microfinance and of Regulation and Legal, as well as the Economic Studies Management;

And, in exercise of the powers conferred by numerals 7 and 9 of Article 349 of the General Law, and based on what is stated in the Thirty-Second Final and Complementary Provision of the General Law;

RESOLVES:

Article First.- Modify the Rules for the coverage, resources and payment of covered deposits of the Deposit Insurance Fund, approved by SBS Resolution No. 657-99 and its modifying norms, as follows:

1. Incorporate literals h) and i) in Article 2 "Definitions" of Chapter I "General Provisions", according to the following:

"Article 2°.- DEFINITIONS
(...) h) Insured deposits: Total of deposits backed by the Fund up to the maximum coverage amount. i) Reserve ratio: Available funds plus investments available for sale of the Fund with respect to the estimated amount of insured deposits."

2. Replace Chapter VI, according to the following:

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

"CHAPTER VI
RESERVE RATIO

Article 20°.- TARGET RESERVE RATIO
The Fund has a target reserve ratio that seeks to achieve sufficient resources to address, within the framework of its functions, stress situations that may arise in the financial system. This target reserve ratio (R) considers a band of values between 8% and 10%. The determination of the band of values for the target reserve ratio is reviewed by the Superintendence every 4 years or when it determines a relevant risk situation for the financial system that warrants its recalculation.

Article 21°.- CALCULATION AND PUBLICITY OF THE TARGET RESERVE RATIO
The reserve ratio is calculated as the available funds plus the investments available for sale of the Fund, according to the Fund's Accounting Manual, with respect to the total estimated insured deposits of the members of the Fund, as the companies report to the Superintendence in Annex No. 17-A "Control of Covered Deposits by the Deposit Insurance Fund". The reserve ratio is calculated by the Fund and published monthly on its website.

Article 22°.- PREMIUMS AND THE RESERVE RATIO
In situations where the reserve ratio shows an increasing trend, the operation of the premiums is as follows:
a) If the reserve ratio goes from being below the minimum value of the established band (R<8%) to being within the established band (8% ≤ R <10%) for two consecutive quarters, the premiums to be paid by the members of the Fund in the immediate subsequent quarter are calculated by multiplying a factor of 80% by the rates established in Article 8°. b) If the reserve ratio goes from being within the established band (8% ≤ R < 10%) to being above the maximum value of the established band (R ≥10%) for two consecutive quarters, the premiums to be paid by the members of the Fund in the immediate subsequent quarter are calculated by multiplying a factor of 60% by the rates established in Article 8°.

In situations where the reserve ratio shows a decreasing trend, the operation of the premiums is as follows:
c) If the reserve ratio goes from being above the maximum value of the established band (R ≥ 10%) to being within the established band (8% ≤ R <10%) for one quarter, the premiums to be paid by the members of the Fund in the immediate subsequent quarter are calculated by multiplying a factor of 80% by the rates established in Article 8°.

d) If the reserve ratio goes from being within the established band (8% ≤ R <10%) to being below the minimum value of the established band (R<8%) for one quarter, the premiums to be paid by the members of the Fund in the immediate subsequent quarter are governed by what is established in Article 8°. The references of the paragraphs above to quarters correspond to quarters ending in the months of March, June, September and December. For the case of member companies of the Fund that have not yet obtained Fund coverage because they have not completed the payment of the premiums fixed by the Superintendence for twenty-four successive months as stated in Article 3° of this Regulation, they must pay the rates established in Article 8° until they obtain Fund coverage and can be governed by what is stated in this article.

Article 23°.- COMMUNICATION TO THE MEMBER COMPANIES OF THE FUND
For the correct implementation of what is established in Article 22°, the Fund must communicate to the member companies of the Fund the rates that apply according to what is established in said article."

3. Incorporate as the Fifth Final and Transitional Provision the following:

"FIFTH.- As of the effective date of SBS Resolution No. 01960-2026, the premiums to be paid by the members of the Fund in the immediate subsequent quarter are governed by what is established in Article 8° of this Regulation. Subsequently, the payment of premiums of the following quarters will be governed by what is provided in Chapter VI."

Article Second.- This Resolution enters into force the day after its publication in the Official Gazette El Peruano.

Register, communicate and publish.

SERGIO JAVIER ESPINOSA CHIROQUE
SUPERINTENDENT OF BANKING, INSURANCE AND AFP