2. Circular No. 018-2019-BCRP comes into force on October 1, 2019 and is not the one originally scheduled for September 1, 2019. The next update of the maximum rates will take place on 1 November 2021 based on the average of month-end observations of the average interest rates©of the financial system for consumer©credit over the period from April 2021 to September 2021. The periods of calculation and validity of the maximum conventional compensation rate©are as follows: D. The conventional maximum balancing and standstill interest rates set out in this Circular do not apply to interest rates©©on transactions regulated and supervised by the Securities Markets Controller, as set out in the final provisions©of the supplementary provision of Emergency Decree No. 013-2020. At. For the calculation of the interest rates applicable to the different transactions determined in relation to the FMCT, the TIPMEX, the average interest rate on savings deposits and the average interest rate of the financial system on loans©to micro-enterprises, the cumulative factors corresponding to the calculated period published by Banking Supervision shall be used. Insurance and AFP. Lima, Monday, 2 September 2019 Capital Markets Opinions and Banking Regulation THE CENTRAL RESERVE BANK OF PERU AMENDS THE PROVISIONS RELATING TO THE PUBLICATION OF COMPENSATORY AND MORATORIUM INTEREST RATES, IN PARTICULAR ON THEIR PUBLICATION AND THE VALIDITY OF CIRCULAR NO.
018-2019-BCRP – Circular No. 0020-2019-BCRP A. The maximum agreed balancing and standstill rates©set out in the present circular shall be phased in in accordance with the following adequacy scheme: b. The rate of remuneration for additional reserve funds held at the central bank by financial system entities is set by the central bank`s board of directors and published on its institutional portal. The maximum conventional balancing rate©for credit operations©in national currency referred to in Article 221(c)(3) of Law No 26702 of the General Law on the Financial and Insurance System and the organisation of the Supervisory Authority for Banks, Insurance and the PFA shall be equal to 2 times the average of the month-end observations of the average interest rates©of the financial system for credit at consumption in national currency issued by the Supervisory Authority©of Banks, Insurance and AFP within the calculation period set by the central bank. According to the amendment, the maximum conventional balancing rate in national currency, corresponding to the average interest rate of the financial system on loans to micro-enterprises, the highest below this rate, and the interest rate will be the average interest rate of the financial system on consumer credit. A similar change will be made to the maximum effective interest rate on conventional compensatory interest in foreign currencies. The legal interest rate©corresponds to the FMPMN. F. Circular No. 0018-2019-BCRP, Circular No. 0020-2019-BCRP and Circular No.
0018-2020-BCRP are null and void as of the date of entry into force of this circular. Modification of the maximum rates of conventional equalization and default interest applicable to transactions between persons outside the financial system in order to promote the development of the capital market The conventional balancing rate©for credit operations©for monetary regulation purposes (Article 58 of the Organic Law of the Central Bank) is set by the Board of Directors of the Central Bank and regularly communicated in the monetary programme. Circular No. 020-2019-BCRP This legal notice indicates the general guidelines of the annotated standard and should not be considered as legal advice prior to a specific request. The maximum conventional balancing ratio shall be calculated in such a way that the actual costs of such operations, including realignment, correspond to the rate©set out in Section I.A.1± point (a). that the board of directors of that central bank, in the exercise of the powers conferred on it by Articles 1242, 1243 and 1244 of the Civil Code, Article 9 of Law No 26702 and its amendments, the General Law on the Financial System and the Insurance System and the organisation of the Banking and Insurance Supervisory Authority and AFP, as well as Articles 51 and 52 of its Organic Law and in accordance with the provisions of Law No. 31143, The Law on the Protection of Consumers of Financial Services against Usury decided to set maximum rates of conventional compensatory interest and moratoriums applicable to the commercial activities of enterprises in the financial system in their consumer credit portfolios, consumer credit© of a small amount (equal to or less than 2 tax units) and loans©©for small ±and© small businesses. and changes to the maximum rates of conventional compensatory interest rates©and the moratorium on transactions between persons outside the financial system.
