Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) has amended its consolidated supervision regulation for financial and mixed conglomerates to align it with the operational concentration limits regime applicable to financial system firms that has been in force since June 2025. The changes update key definitions and introduce group-level limits for financing exposures based on the consolidable group’s Tier 1 effective capital. The amendments revise definitions relating to financial and mixed conglomerates, including control, holding company, financing, economic group, significant influence and legal entity. Financing granted to related persons, companies or legal entities may not exceed 25% of the consolidable group’s Tier 1 effective capital for financial system groups, while the limit is 30% for insurance system conglomerates. Total financing granted by firms within the financial system consolidable group to a counterparty, or to a group of counterparties connected by single risk, is capped at 25% of that group’s Tier 1 effective capital. The rule enters into force on 1 March 2027 and includes an adjustment timetable running through 2031.
Superintendencia de Banca, Seguros y AFP del Peru 2026-03-25
Peru's Superintendency of Banking, Insurance and Private Pension Funds revises consolidated conglomerate supervision rules with 25% Tier 1 exposure caps
Peru's SBS has amended its consolidated supervision regulation for financial and mixed conglomerates to align with operational concentration limits. The amendments update definitions and set group-level financing exposure limits based on Tier 1 effective capital, capping related party financing at 25% for financial groups and 30% for insurance conglomerates. Total financing to a counterparty or connected counterparties is limited to 25% of the group's Tier 1 effective capital.