The main body of law regulating banking activities in Peru is the Peruvian Banking Law and the regulations enacted by the SBS. The Peruvian Banking Law establishes the regulatory and supervisory framework for companies operating in the Peruvian financial and insurance system and those carrying out activities linked or complementary to their corporate purpose.

There is also a large volume of secondary and delegated legislation applicable to financial institutions, insurance companies and pension funds.

Banking regulations on capital adequacy in Peru take into account the recommendations of the Basel Committee on Banking Supervision. The SBS has adopted the principles and guidelines of Basel II and recently adopted  a number of Bassel III recommendations.