PERU

On May 12, the Peruvian Central Bank published a circular on credit portfolio reporting operations guaranteed by the Peruvian government and represented in securities. Meanwhile, the National Superintendency of Customs and Financial Administration (Sunat, in Spanish) published a resolution that dictates rules for the presentation of the financial information declaration. Both measures are already in force.

The circular determines that the participating entities that sell to the Central Bank their credit portfolio with government guarantee and that is represented in securities, receive in exchange local currency. In addition, they are obliged to repurchase such securities against payment of local currency. Banking and financial companies may participate in this process. In addition, the collateralized loan portfolio consists of individual loans and collateralized certificates of participation.

Meanwhile, the Sunat resolution establishes that financial entities must submit information on the accounts of individuals and legal entities that have an account balance in excess of 30,800 soles. Likewise, they will have to submit the tax returns corresponding to the first and second semester of the year, respectively, on the dates foreseen in the schedule for compliance with the tax obligations for the months of June and December.