Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) issued amendments to the General Regulation for Savings and Credit Cooperatives (Coopac) and the Accounting Manual for Coopac to better align prudential and accounting requirements with cooperative operations while maintaining solvency expectations and member protection. The changes add new sources of capital strengthening, including recognising a percentage of fixed-term deposits as a patrimonial strengthening source based on maturity, subject to limits and parameters. They also introduce specific treatment for asset revaluations and for the accounting and capital recognition of valuation increases, with prudential criteria intended to ensure the reasonableness of such valuations, and adjust the timelines in the gradual transition schedule for provisioning alongside other accounting provisions that vary by each Coopac’s modular tier.
Superintendencia de Banca, Seguros y AFP del Peru 2025-08-21
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators amends Coopac rules to broaden eligible capital sources and revise accounting and provisioning transition
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) amended the General Regulation and Accounting Manual for Savings and Credit Cooperatives (Coopac). The amendments introduce new capital strengthening sources, specific asset revaluation treatments, and adjusted provisioning timelines, aligning prudential and accounting requirements with cooperative operations while ensuring solvency and member protection.