Lima, 4 September 2020

S.B.S. Resolution No. 2154-2020

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators

WHEREAS:

That, by means of SBS Resolution No. 11356-2008 and its amendments, the Regulation for the Evaluation and Classification of the Debtor and the Requirement of Provisions was approved, in which the provision rates for credit risk applicable to the different types of credit are established, based on the credit classification of the debtors;

That, by means of SBS Resolution No. 14354-2009 and its amendments, the Regulation for the Requirement of Effective Equity for Credit Risk was approved, in which the methodology to be applied is established, as well as the requirements that the companies of the financial system must comply with to calculate the requirement of effective equity for credit risk using the standard method or the method based on internal ratings;

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

That, by means of SBS Resolution No. 6941-2008 and its amendments, the Regulation for the Administration of the Risk of Overindebtedness of Retail Debtors was approved, which provides that companies must establish in their commercial policies, as well as in those for granting, modifying and reviewing credit lines, explicit criteria and measures that incorporate the risk of overindebtedness of retail debtors;

That, by means of SBS Resolution No. 41-2005 and its amendment, the Regulation for the Administration of Credit Foreign Exchange Risk was approved, which establishes guidelines for adequate control of credit foreign exchange risk; and by means of Circular B-2145-2005, CR- 0201-2005, EAF-0229-2005, EDPYME-0117-2005, CM-0332-2005, F-0485-2005 and its amendments, complementary provisions on the administration of credit foreign exchange risk were established;

That, by means of Circular No. B-2148-2005, FOGAPI-0026- 2005, CR-0204-2005, CM-0335-2005, F-0488-2005, EDPYME-0119-2005, EAF-0231-2005, S-0613- 2005 and its amendments, provisions were established with the purpose of ensuring that companies adequately manage concentration risk in the operations they carry out;

That, by means of Supreme Decree No. 044-2020-PCM and its amendments, the National State of Emergency was declared as a consequence of the outbreak of the Coronavirus (COVID-19) and various exceptional and temporary measures have been ordered regarding the spread of COVID-19;

That, by means of Urgency Decree No. 029-2020 and its amendment, the creation of the Business Support Fund for MSEs (FAE-MYPE) was ordered with the purpose of promoting the financing of micro and small enterprises (MSEs);

That, by means of Legislative Decree No. 1455-2020 and its amendment, the creation of the National Government Guarantee Program for Continuity in the Payment Chain (REACTIVA PERÚ Program) was ordered, the purpose of which is to guarantee the financing of the replenishment of working capital funds of companies that face short-term payments and obligations with their workers and suppliers of goods and services, through a mechanism that grants the National Government guarantee to credits in national currency that are placed by companies of the financial system;

That, given the current situation that the country has been going through, by means of SBS Resolution No. 1314-2020 it was ordered that, exceptionally, for credits that have the coverage of the guarantee of the REACTIVA PERÚ Program, a credit risk provision rate of 0% is applicable when credit counterparty substitution is applied;

That, by means of SBS Resolution No. 1315-2020, special provisions were established for the constitution of credit risk provisions for the part of the credits that has the FAE-MYPE guarantee, and for the calculation of the requirement of effective equity for credit risk for the part of the exposures that has the guarantee of the aforementioned fund;

That, likewise, by means of SBS Resolution No. 1546-2020, it was ordered to establish, exceptionally, at 50% of effective equity the limit that applies to the total of the coverages granted by FAE-MYPE in favor of the same company of the financial system. Likewise, it was ordered that the part of the exposures that has the guarantee of the REACTIVA-PERÚ Program and of FAE-MYPE, when credit counterparty substitution is applied, be excluded from the calculation of the provisions indicated in the first and third paragraphs of article 7 of the Regulation for the Administration of the Risk of Overindebtedness of Retail Debtors, as well as from the additional provisions indicated in article 7 of the Regulation for the Administration of Credit Foreign Exchange Risk;

That, by means of Urgency Decree No. 076-2020 and its amendment, the creation of the Business Support Fund for MSEs of the Tourism Sector (FAE-TURISMO) was ordered with the purpose of promoting the financing of micro and small enterprises (MSEs) of the Tourism Sector, through working capital credits, and by means of Ministerial Resolution No. 228-2020-EF/15 its Operating Regulation was approved;

That, by means of Urgency Decree No. 082-2020 and its amendment, the creation of the National Government Guarantee Program for Business Agricultural Financing (FAE-AGRO) was ordered, the purpose of which is to guarantee credits for

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working capital for farmers engaged in family farming as defined by Ley N° 30355, Ley de Promoción y Desarrollo de la Agricultura Familiar, in order to ensure the 2020-2021 agricultural campaign, as well as the supply of food at the national level, through working capital loans, and by Resolución Ministerial N° 226-2020-EF/15 its Operational Regulations were approved;

That it is necessary to establish clarifications on prudential and accounting aspects that must be considered by the companies participating in the framework of FAE-TURISMO and FAE-AGRO;

With the approval of the Deputy Superintendencies of Banking and Microfinance, of Risks, of Economic Studies and of Legal Affairs; and,

In use of the powers conferred in numerals 7 and 9 of article 349 of the Ley General del Sistema Financiero y del Sistema de Seguros y Orgánica de la Superintendencia de Banca y Seguros (Ley N° 26702 and its amendments), and on the basis of the exceptional conditions set forth in article 14 of Decreto Supremo N° 001-2009-JUS and its amendments;

RESOLVES:

Artículo Primero.- To establish that the portion of loans covered by the Fondo de Apoyo Empresarial a la MYPE del Sector Turismo (FAE-TURISMO) is subject to the same treatment provided for the portion of loans covered by the Fondo de Apoyo Empresarial a la MYPE (FAE-MYPE) through Resoluciones SBS N° 1315-2020 and N° 1546-2020 and Oficio Múltiple N° 13206-2020-SBS.

Artículo Segundo.- To establish that, exceptionally, the limit of fifty percent (50%) of the effective equity of financial system companies applies, separately, to the total coverage granted by the Fondo de Apoyo Empresarial a la MYPE (FAE-MYPE) and to the total coverage granted by the Fondo de Apoyo Empresarial a la MYPE del Sector Turismo (FAE-TURISMO), in favor of the same financial system company.

Artículo Tercero.- To establish that the portion of loans covered by the Programa de Garantía del Gobierno Nacional para el Financiamiento Agrario Empresarial (FAE-AGRO) is subject to the same treatment provided for the portion of loans covered by the Programa de Garantía del Gobierno Nacional para la Continuidad en la Cadena de Pagos (Programa REACTIVA PERÚ) through Resoluciones SBS N° 1314-2020 and N° 1546-2020 and Oficio Múltiple N° 11999-2020-SBS. Likewise, the total coverage granted by the Gobierno Nacional through FAE-AGRO, similarly to what occurs in the case of the Programa REACTIVA PERÚ, is not subject to credit concentration limits.

Artículo Cuarto.- To modify the Manual de Contabilidad para las Empresas del Sistema Financiero, approved by Resolución SBS N° 895-98 and its amendments, in accordance with the Annex attached to this Resolution, which is published on the Institutional Portal (www.sbs.gob.pe), in accordance with the provisions of Decreto Supremo N° 001- 2009-JUS, with effect from the information corresponding to the month of September 2020.

SUPERINTENDENCY OF BANKING, INSURANCE AND AFP
República del Perú

Artículo Quinto.- This Resolution enters into force on the day following its publication in the official newspaper El Peruano.

Register, communicate and publish

SOCORRO HEYSEN ZEGARRA
Superintendent of Banking, Insurance and
Private Pension Fund Administrators