Peru’s SBS raises cash limits

Peru’s Superintendency of Banking, Insurance and AFPs has put in place regulatory changes affecting basic transaction outlets, electronic money issuers, and the approval process for new financial and insurance companies. The measures include new cash limits, stronger controls when a cash box exceeds 10 UIT, and a redesigned authorization regime with maximum deadlines and mandatory prequalification.

What changed in cash operations?

Resolution SBS No. 02116-2026 raises the amounts allowed at financial outlets and EEDEs, while also adding extra controls when an institution exceptionally increases its cash limit above 10 UIT. The rule takes effect on August 27, 2026, one day after publication in El Peruano.

According to the official publication, the resolution sets three quantitative limits for basic transaction outlets. For withdrawals and deposits tied to credit operations, the cap is up to 6 UIT per person per day. For other non-credit transactions, the maximum is 2 UIT per person per day. It also sets a cash-on-hand limit of up to 10 UIT, which may be exceptionally raised to 30 UIT under reinforced risk conditions.

What controls does the SBS require if the cash limit is exceeded?

When an institution exceptionally exceeds the 10 UIT cash threshold, it must apply measures aligned with the higher risk level and submit a risk report to the SBS. That report must cover cash custody, handling and transport controls, dual-control mechanisms, periodic cash counts, transaction reconciliation, insurance for cash on hand and in transit, physical security, video surveillance, anti-money laundering and counterterrorism financing controls, as well as business continuity.

The regulatory approach is meant to ensure that higher cash handling does not go without additional oversight. The available material does not spell out specific penalties for noncompliance, but it does make clear that the higher cash threshold comes with a stricter control and monitoring package.

What did the SBS change in the authorization of new entities?

The SBS also amended the Regulation for the Authorization of Companies and Representatives of the Financial and Insurance Systems, approved by Resolution SBS No. 211-2021, through Resolution SBS No. 02133-2026. The reform establishes three separate procedures, standard, non-deposit-taking, and special, tied to the business’s complexity and each entity’s risk profile.

According to El Peruano and Infobae Perú, the new framework introduces specific maximum deadlines. Under the standard procedure, review may take up to 120 days for organization and 180 days for operations. For non-deposit-taking companies, the deadlines reach up to 90 days for organization and 120 days for operations. The special option allows up to 70 days for organization.

The reform also creates a mandatory preliminary prequalification stage of up to 15 days. During that phase, the SBS checks basic documentation and determines which procedure applies, with temporary and controlled access to the Consolidated Credit Report. If final authorization is not granted, the information must be deleted.

What other official cooperation did the SBS announce?

The SBS and the Public Prosecutor’s Office agreed to expand fiscal investigations’ access to supervised financial information. The Public Prosecutor’s Office will have access to the SBS’s Web Risk Center query services and the Web Pension Query Module, as well as information linked to the Private Pension System.

That exchange is part of a cooperation agreement aimed at strengthening fiscal investigations with supervised financial data. The material does not specify implementation deadlines or additional operational scope, but it does confirm that the collaboration has been officially announced.

What regulatory framework appears in the other resolutions cited?

Resolution SBS No. 02040-2026 integrates the regulatory and supervisory framework for the financial, insurance, private pension, and cooperative systems under the SBS, although the available text does not detail specific cybersecurity requirements. Resolution SBS No. 02104-2026 states that its effects apply from information corresponding to December 2026, setting an implementation timeline for the obligations arising from the rule.

In parallel, the technical analysis on open finance in Peru describes data governance and third-party risk management obligations for entities that share financial information with external recipients. That framework requires board-approved policies, prior risk assessments, continuous monitoring of each third party, service risk reports sent to the SBS, contracts with minimum clauses, and a semiannual public list of active recipients.

The same material also defines specific data-sharing use cases, including savings accounts, term deposits and CTS accounts, electronic money accounts, credit origination, credit and debit cards, insurance products offered by banks, and embedded finance models through third parties.