Lima,
10 of June of 2008

S.B.S. Resolution No. 2032 -2008

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

WHEREAS:

That, by means of SBS Resolution No. 895-98 of 1 September 1998 and its amending rules, the Accounting Manual for Companies of the Financial System, hereinafter Accounting Manual, was approved, incorporating in Chapter V "Complementary Information", Annex No. 6 called "Debtors' Credit Report -RCD";

That, it is necessary to make clarifications regarding written-off loans where there is no refinancing or restructuring agreement, but which have been amortized;

In accordance with the opinion of the Deputy Superintendencies of Banking and Microfinance, Risks and Legal Advisory, as well as the Economic Studies Management; and,

In use of the powers conferred in numerals 7 and 13 of article 349° of the General Law.

RESOLVES:

Article One.- Modify the Accounting Manual in accordance with the provisions of the Annex attached to this Resolution.

Article Two.- This Resolution shall enter into force as from the information corresponding to the month of June 2008.

Register, communicate and publish.

FELIPE TAM FOX
Superintendent of Banking, Insurance and
Private Pension Fund Administrators

ANNEX

MODIFICATIONS TO THE ACCOUNTING MANUAL FOR COMPANIES OF THE FINANCIAL SYSTEM

I. Modify Chapters III " Chart of Accounts" and IV "Description and Dynamics of Accounts", in accordance with the following:

1. Replace the last paragraph of account 8103 "Written-off Bad Debts" in accordance with the following text:

" In the event that the debtors of written-off loans are refinanced or restructured, according to the criteria of the Regulation for the Evaluation and Classification of the Debtor and the Provision Requirement, said refinanced or restructured operation must be recorded in the corresponding accounts of refinanced or restructured loans, with credit to the respective accounts of deferred income from refinanced and restructured operations. Simultaneously, the amount of the debt that is refinanced or restructured (principal and interest) must be reversed from account 8103. Therefore, a past-due loan or loan in judicial collection that, having been written off, is subsequently restructured or refinanced, must be activated (accounts 1403 or 1404) with the consequent effect on the classification and provision requirement.

Those written-off loans where there is no refinancing or restructuring agreement, but which have been amortized, will be reclassified to subaccount 8109.25 "Written-off loans that have been amortized", and must adhere to the classification criteria established in the Regulation for the Evaluation and Classification of the Debtor and the Provision Requirement."

2. Incorporate subaccount 8109.25 called "Written-off loans that have been amortized".

3. Incorporate the description of subaccount 8109.25 in accordance with the following text:

"In this subaccount shall be recorded the loans that, having been written off accounting-wise, after said write-off, have been amortized by the debtors. The qualification of these loans must be updated in accordance with the classification criteria established in the Regulation for the Evaluation and Classification of the Debtor and the Provision Requirement."

4. Incorporate as dynamics of account 8109, the following text:

• Debits: - For written-off loans that have been amortized by the debtors.

II. Modify Chapter V " Complementary Information" in accordance with the following:

Incorporate in the part of Accounting Accounts Considered in the RCD of Annex No. 6 "Debtors' Credit Report", subaccount 8109.25.