Municipal savings banks request that entities with solvency greater than 10% access the Government program

The municipal boxes They have indicated that Emergency Decree No. 013-2023 —which establishes the creation of a patrimonial strengthening program for specialized microfinance institutions for S/479 million— would not have a positive impact and they request restructuring in the conditions.

In this sense, they demand that the Superintendency of Banking, Insurance and AFP (SBS) prepare a regulation with a vision “not restrictive, but to expand credit,” said Jorge Solís Espinoza, president of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC).

“The conditions that the SBS should establish is that it is not a reinforcement of patrimonial rescue, that is, that it not only benefits entities that have solvency indices of less than 10%, but also those with solvency of 11% or 12%. ”, specified the president of this federation.

In addition, Solís pointed out that the capital contribution should not be conditioned to the appointment of directors; in that line, he clarified that the CDevelopment Finance Corporation (Cofide) could assign an overseer instead of a director.

It was also requested that the costs of the operations not be expensive, because they are assumed by the borrower and thatThe foster care period (which expires in June 2024) is extended until December 2024.

They request S/1,000 million for loans

The FEPCMAC also extended its request to the Government to grant a patrimonial contribution with the objective of leveraging credit to small and medium-sized companies of S/1,000 million, directed to the 11 municipal savings banks.

This would make it possible to provide S/10,000 million of credits to mypes and implement facilities for entrepreneurs to access them, which would deal with and help curb informal modalities such as “drop by drop” loans.