The issuing entity expects the transfer of assets and liabilities to a new financial entity to be agile.
Following the disappearance of Caja Sullana due to the accelerated deterioration of its insolvency, the Central Reserve Bank of Peru (BCRP) has indicated that the event will not have repercussions on other entities.
“We do not see it having an impact on the financial system,” said Adrian Armas, Central Manager of Economic Studies at the BCRP, to the media during the presentation of the July Monetary Program.
Armas says that the microfinance subsystem will not be affected either, but he hopes that a “swift transfer” of Caja Sullana’s assets and liabilities will take place.
According to the Superintendency of Banking, Insurance and AFP (SBS) and the Federation of Municipal Savings Banks (Fepcmac), this Friday, July 12, the savings bank that will absorb Caja Sullana will be announced.
As reported by La República, the banks in a position to collect Sullana’s assets and liabilities are: Caja Cusco, Caja Arequipa, Caja Huancayo and Caja Piura.
Source: Larepublica
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