Peru's Superintendency of Banking, Insurance and Pension Fund Administrators amended the rules governing municipal savings and credit banks’ (CMAC) participation in the framework that promotes regional and local public investment with private sector participation, aligning the regulation with Law No. 31735 and Supreme Decree No. 011-2024-EF. CMAC are required to adapt their internal processes to comply with the updated provisions. The changes broaden the definition of “certificate” to expand the use of Regional and Local Public Investment Certificates (CIPRL) and National Government Public Investment Certificates (CIPGN), which may now be used to pay any tax that constitutes revenue for the Public Treasury and is administered by Peru's National Superintendency of Tax Administration (SUNAT). Governance reporting was also adjusted, with joint management or the general manager now required to report to the board quarterly rather than monthly on a project’s execution status, progress and amount. In addition, the maximum total investment amount for executing a selected project was modified by increasing the fixed factor from 0.5 to 0.8.
Superintendencia de Banca, Seguros y AFP del Peru 2025-05-20
Peru's Superintendency of Banking, Insurance and Pension Fund Administrators expands CMAC use of public investment certificates and lifts the investment cap factor to 0.8
Peru's Superintendency of Banking, Insurance and Pension Fund Administrators amended regulations for municipal savings and credit banks (CMAC) to align with Law No. 31735 and Supreme Decree No. 011-2024-EF. The amendments expand the use of Public Investment Certificates for tax payments and adjust governance reporting to quarterly updates. Additionally, the maximum investment amount for projects increased by raising the fixed factor from 0.5 to 0.8.