Ensure that most of new mortgage loans extended by banks with the guarantee of MiVivienda are denominated in nuevo soles
At P1R2, not observed.  Private banks have been notified by MiVivienda, and a calendar has been set to phase out the guarantees by January 1, 2008. The Executive Board was notified of an expected delay to December 31, 2007, at the time of the first review (R2, EBS/07/141 pg. 30) (No mention of delay and/or test date rescheduling found in R1, EBS/07/64).  At P1R3, observed with a slight delay following December 2007.  Two guarantees were issued in early 2008, on small loans granted by participating banks in late December 2007.