Lima, 22 December 2004

S.B.S. Resolution No. 2075 -2004

The Superintendent of Banking and Insurance

WHEREAS:

That, by means of SBS Resolution No. 895-98 of 01 September 1998 and its amendments, the Accounting Manual for Companies of the Financial System, hereinafter the Accounting Manual, was approved;

That, Chapter V of the Accounting Manual contains the annexes and reports to the financial statements;

That, in order to evaluate the credit management of companies of the financial system, it is convenient to have an additional report in the Accounting Manual that allows obtaining information on written-off and forgiven loans;

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

In use of the powers conferred by numerals 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;

RESOLVES:

Article One.- Amend Chapters III "Chart of Accounts" and IV "Description and Dynamics of Accounts" of the Accounting Manual, as indicated in Annex No. 1 attached to this regulation.

Article Two.- Incorporate into Chapter V "Annexes and Reports to the Financial Statements" of the Accounting Manual, Report No. 25 called "Information on Write-offs and Forgiveness of Loans", according to the format indicated in Annex No. 2 attached to this regulation, whose periodicity shall be monthly and must be sent to this Superintendency within 15 calendar days after the close of each month. The submission of said Report shall be in printed form and through the External Capture and Validation Submodule (SUCAVE).

Article Three.- This Resolution shall enter into force as of the information corresponding to the month of January 2005.

Register, communicate and publish.

JUAN JOSÉ MARTHANS LEÓN
Superintendent of Banking and Insurance

ANNEX No. 1
AMENDMENTS TO THE ACCOUNTING MANUAL

Amend Chapters III "Chart of Accounts" and IV "Description and Dynamics of Accounts" of the Accounting Manual, in the following terms:

1. Replace the first paragraph of the description of account 8103 "Written-off Bad Debts", with the following:

"In this account are recorded the rights of the company that have been written off, regardless of the tax write-off made in accordance with current regulations. Such written-off debts must remain recorded in this account until they are transferred, forgiven or the reasons that gave rise to their write-off are overcome."

2. Replace the third paragraph of the description of account 8103 "Written-off Bad Debts", with the following:

"The principal balance of the loans that are written off according to the provisions of the Regulation for the Evaluation and Classification of the Debtor and the Provision Requirement must be recorded in subaccount 8103.02; while the interest and commissions of said written-off loans must be recorded in analytical account 8103.04.02 and analytical account 8103.05.02, respectively."

3. Replace the credits of the dynamics of account 8103 "Written-off Bad Debts", with the following:

DYNAMICS
CREDITS:

• For the cancellation, refinancing, restructuring, transfer,
  forgiveness or any other modality of extinction of the written-off rights.

4. Incorporate in subaccounts 8103.04 "Written-off Interest" and 8103.05 "Written-off Commissions", the following analytical accounts:

8103.04.01	WRITTEN-OFF INVESTMENTS
8103.04.02	WRITTEN-OFF LOANS

SUPERINTENDENCY OF BANKING AND INSURANCE

8103.04.03
WRITTEN-OFF ACCOUNTS RECEIVABLE
8103.05.02
WRITTEN-OFF LOANS
8103.05.09
OTHERS

5. Incorporate in account 8109 "Other Debit Order Accounts", the following subaccount and analytical accounts:

8109.22
FORGIVEN LOANS
8109.22.01
PRINCIPAL
8109.22.02
INTEREST
8109.22.03
COMMISSIONS

6. Incorporate the description of subaccount 8109.22 "Forgiven Loans":

"In this subaccount shall be recorded the amount of the total forgiveness of loans made in the current fiscal year, broken down by concepts: principal, interest and commissions. At the beginning of the following fiscal year, a reversal entry of the amount accumulated in the previous fiscal year must be made, in order to control only the loans forgiven in the current fiscal year."

7. Incorporate in the Dynamics of account 8109 "Other Debit Order Accounts" the following:

DYNAMICS

• DEBITS: - For the amount of loans forgiven in the current fiscal year.

• CREDITS: - For the reversal entry at the beginning of the fiscal year, corresponding to the global amount of loans forgiven in the previous fiscal year.