Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) published a draft amendment to the framework governing municipal savings and credit banks’ (CMAC) participation in the law promoting regional and local public investment with private sector participation, to align the SBS rules with Law No. 31735 and Supreme Decree No. 011-2024-EF. The proposal would revise the definition of “certificate” to broaden the permitted use of regional and local public investment certificates (CIPRL) and national government public investment certificates (CIPGN), allowing them to be used for tax payments as set out in Law No. 31735. It would also change CMAC governance reporting so the joint management or general manager reports to the board on project execution on a quarterly basis, unless a relevant event warrants more frequent reporting. For investment limits, the draft adjusts how the maximum total investment amount for a selected project is calculated by increasing the fixed factor from 0.5 to 0.8. Comments and suggestions are open until 4 April 2025 via the SBS portal.
Superintendencia de Banca, Seguros y AFP del Peru 2025-03-04
Peru's Superintendency of Banking, Insurance and Pension Funds consults on CMAC rule changes expanding use of public investment certificates and raising the investment cap factor to 0.8
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) released a draft amendment to align municipal savings and credit banks' participation with Law No. 31735 and Supreme Decree No. 011-2024-EF. The proposal broadens the use of public investment certificates for tax payments, revises governance reporting requirements, and adjusts investment limit calculations by increasing the fixed factor from 0.5 to 0.8.