The entities of the Finance system They were empowered to adopt exceptional measures to be applied to the credits of retail debtors, who have been affected by events that lead to the declarations of state of emergencylike the recent rainy at the national level due to the presence of the Cyclone Yaku.
This was reported by the Superintendency of Banking, Insurance and AFP (SBS)after issuing a letter that implements the measure in favor of users who, for example, have seen their homes or businesses compromised.
According to a statement from the institution, it is the Multiple Letter No. 12174-2023-SBS. In the text, it is explained that these measures will be evaluated by each company in the financial system, according to the geographical scope that it determines, and after analyzing the level of impact on its portfolio of debtors.
According to SBSfinancial institutions may modify the contractual conditions of the retail credits (consumer, mortgage, microenterprise and small business), without this constituting a refinancing (or a deterioration in the credit rating of the debtors).
“To the extent that they meet certain conditions, such as that on the date of the emergency declaration or at the date of the rescheduling, the debtors have shown adequate payment behavior, among others; being able to extend the total term of the aforementioned credits up to six months from the original term. Likewise, provisions are established for the prudential and accounting treatment of said credits, ”said the agency.
The official letter also detailed that financial institutions will have an exceptional period of up to 30 days after the unilateral modification to notify the client, and must comply with the other conditions contained in the Market Conduct Management Regulation of the Financial System (SBS Resolution No. 3274-2017 and amendments).
“Those clients who do not need to take advantage of this exceptional measure must contact their entity in order to reverse the rescheduling of the credit (maintaining the original conditions),” the institution remarked.
These exceptional measures may be applied, given the critical situation that various areas of the country are going through, due to weather phenomena, and which have been declared a state of emergency by the Executive power.
The intense rains registered during these days in the north of Peru due to the effects of the Cyclone Yaku could have an impact on the prices of some staple foods, which would have repercussions on the rate of inflation March monthly, warned the manager of Monetary Policy of the Central Reserve Bank (BCR) of Peru, carlos montoro.
“So far this month there has already been an increase in the lemon price about 19%; However, there are other products that have already been reducing their price, such as potatoes, which already have a 27% discount, said the official of the monetary entity.
In addition, another factor that could impact inflation in March would be the avian flu, which is affecting the chicken production. “In chicken there has been an increase in avian flu and there has been less access to soybean meal, it is expected that in the following months the impact of some measures will be seen, such as the importation of fertile eggs and the vaccination of birds, and this is expected to reduce the price,” he said.
