On Aug. 15, 2025, PER SBS published Resolution 02869-2025 to modify the Regulation for the Liquidity Risk Management, which was approved by Resolution 4221-2023.
For calculation of ratios in Art. 17, 18, 19, concepts must be seen as liquid assets.
Modified Chapter V, Supplementary Information of Accounting Manual for Companies.
Incorporate the Stock Market Funds or Exchange Traded Funds (ETF) made up exclusively of sovereign bonds issued by Gvt. within the category of Liquid Assets.
The assembly (creation) and disassembly (redemption) process of Treasury Report and Daily Liquidity Position is intraday and quoted on centralized trading mechanisms.
Only the valuation of multiple of units that allows the process should be considered.
Incorporated the Exchange Traded Funds (ETFs) made up exclusively of sovereign bonds issued by the Central Government into the Liquid Assets category.
Incorporate the methodological note 6C of Annex 15-C, Monthly Liquidity Position.
Resolution 02869-2025 shall come into force on Sep. 1, 2025.
On May 16, PER SBS added Basel recommendations into regulations.
PER SBS updated liquidity risk management, adding net stable funding ratio (NSFR).
Resolution 4221-2023 approved the new regulations for liquidity risk management.
Background
In Dec. 2010, Basel Committee on Banking Supervision (BCBS) published Basel III: International framework for liquidity risk measurement, standards, and monitoring.
BCBS introduced NSFR, to promote stability, limit dependence on short-term wholesale, and better assess funding risk for all on- and off-balance sheet exposures.
In Oct. 2014, after review, BCBS published Basel III: The net stable funding ratio and in Feb. 2017 Basel III – The net stable funding ratio: frequently asked questions.
In Dec. 2023, PER SBS took recommendations from BCBS and developed a prudential regulatory framework based on international practices, appropriate to local conditions.
To ensure sustainable funding structure for financial entities, reduce disruptions to usual funding sources that will erode liquidity position, and increase bankruptcy risk.
Highlights
The net stable funding ratio measures the relationship between stable funding available and stable funding required, which must always be greater than 100%.
The stable funding available is the company's equity and liabilities expected to be stable over one year, determined by maturity period, type of funding and counterparty.
The stable funding required is the company's off-balance sheet assets and exposures.
The compliance with regulatory limit of NSFR will be based on monthly closing balance.
Effectiveness
The NSFR will come into force in Dec. 2024.
Aug. 15, 2025 PER SBS Adjustments
On Aug. 15, 2025, PER SBS published Resolution 02869-2025 to modify the Regulation for the Liquidity Risk Management, which was approved by Resolution 4221-2023.
For calculation of ratios in Art. 17, 18, 19, concepts must be seen as liquid assets.
Modified Chapter V, Supplementary Information of Accounting Manual for Companies.
Incorporate the Stock Market Funds or Exchange Traded Funds (ETF) made up exclusively of sovereign bonds issued by Gvt. within the category of Liquid Assets.
The assembly (creation) and disassembly (redemption) process of Treasury Report and Daily Liquidity Position is intraday and quoted on centralized trading mechanisms.
Only the valuation of multiple of units that allows the process should be considered.
Incorporated the Exchange Traded Funds (ETFs) made up exclusively of sovereign bonds issued by the Central Government into the Liquid Assets category.
Incorporate the methodological note 6C of Annex 15-C, Monthly Liquidity Position.
Resolution 02869-2025 shall come into force on Sep. 1, 2025.
Regulators
PER SBS
Entity Types
B/D; Bank; IA; Inv Co
Reference
OG, 8/15/2025; Res 02869-2025, 8/14/2025; PR, 5/16/2024; Res 4221-2023, 12/20/2023
