SBS Resolution No. 2364-2020: Establishing clarifications to be considered by COOPACs participating in the FAE-TURISMO and FAE-AGRO frameworks and amending the Accounting Manual for Level 2 and 3 Savings and Credit Cooperatives Not Authorized to Raise Funds from the Public

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000 Fax: (511) 6309239 1

Lima, September 29, 2020

S.B.S. Resolution
No. 2364-2020

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators

WHEREAS:

That, through SBS Resolution No. 480-2019 and its amendments, the General Regulation of Savings and Credit Cooperatives Not Authorized to Raise Funds from the Public was approved, which establishes the credit risk provisions applicable to the different types of credit, based on the credit classification of debtors for Savings and Credit Cooperatives Not Authorized to Raise Funds from the Public (COOPAC); the methodology that COOPACs must apply to calculate the effective equity requirement for credit risk and provisions aimed at ensuring that COOPACs adequately manage concentration risk in the operations they carry out;

That, through SBS Resolution No. 577-2019 and its amendments, the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Raise Funds from the Public was approved;

That, through 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, through 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, through SBS Resolution No. 1765-2020, it was ordered to establish, exceptionally, at 50% of the effective equity of COOPACs, the limit applicable to the total coverage granted by FAE-MYPE in favor of a single COOPAC. Likewise, it was ordered to establish, exceptionally, a credit risk provision rate of 0% and a weighting of 0% for the purposes of calculating the effective equity requirement for credit risk, for the portion of credits and exposures that have the coverage of the FAE-MYPE guarantee when credit counterparty substitution is applied;

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

That, through 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 loans, and through Ministerial Resolution No. 228-2020-EF/15 its Operating Regulations were approved, which establish the eligibility requirements for Level 2 and 3 COOPACs;

That, through Urgency Decree No. 082-2020 and its amendment, the creation of the National Government Guarantee Program for Agrarian Business Financing (FAE-AGRO) was ordered, which aims to promote the financing of farmers engaged in family farming as defined by Law No. 30355, Law for the Promotion and Development of Family Farming, 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 through Ministerial Resolution No. 226-2020-EF/15 and its amendment, its Operating Regulations were approved, which establish the eligibility requirements for Level 2 and 3 COOPACs;

That, it is necessary to establish clarifications on prudential and accounting aspects that must be considered by Level 2 and 3 COOPACs participating in the framework of FAE-TURISMO and FAE-AGRO;

Having the prior technical report and positive viability of the regulation of the Deputy Superintendency of Cooperatives and with the approval of the Deputy Superintendencies of Cooperatives and Legal Advice; and,

In use of the attribution conferred in numerals 7, 9 and 13 of article 349, as well as in numeral 4 A of the Twenty-Fourth Final and Complementary Provision, of the General Law of the Financial System and the Insurance System and Organic of the Superintendency of Banking and Insurance, Law No. 26702 and its amendments, and based on the exceptional conditions provided in article 14 of Supreme Decree No. 001-2009-JUS and its amendments;

RESOLVES:

Article One.- Establish that the portion of credits that have the coverage of the Business Support Fund for MSEs of the Tourism Sector (FAE-TURISMO) and the coverage granted by the National Government for Agrarian Business Financing (FAE-AGRO), is subject to the same treatment provided for the portion of credits that have the coverage of the Business Support Fund for MSEs (FAE-MYPE) through SBS Resolution No. 1765-2020.

Article Two.- Establish that, exceptionally, the limit of fifty percent (50%) of the effective equity of COOPACs applies, separately, to the total coverage granted by the Business Support Fund for MSEs (FAE-MYPE) and to the total coverage granted by the Business Support Fund for MSEs of the Tourism Sector (FAE-TURISMO), in favor of the same COOPAC.

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

Article Three.- Establish that the portion of the credit covered by the guarantee granted by the National Government for Agrarian Business Financing (FAE-AGRO) is not subject to the credit concentration limits established in articles 37 and 38 of the General Regulation of Savings and Credit Cooperatives Not Authorized to Raise Funds from the Public, approved by SBS Resolution No. 480-2019 and its amendments.
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Article Four.- Amend the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Raise Funds from the Public of Level 2 and 3, approved by SBS Resolution No. 577-2019 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 Supreme Decree No. 001-2009-JUS, being effective as of the information corresponding to the month of September 2020.

Article Five.- This Resolution enters into force 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