Circular 6/2018 — Modifications to the SPID Rules (POA-SPID and COA-SPID Transitional Regime)

(First Section) OFFICIAL GAZETTE Friday, June 1, 2018 BANCO DE MÉXICO CIRCULAR 6/2018 addressed to participants in the SPID, regarding Modifications to the SPID Rules (POA-SPID and COA-SPID Transitional Regime).

A logo appears at the margin, stating: Banco de México.

CIRCULAR 6/2018
TO SPID PARTICIPANTS:
SUBJECT: MODIFICATIONS TO THE SPID RULES
(POA-SPID AND COA-SPID TRANSITIONAL REGIME).

The Banco de México, with the purpose of continuing to promote the sound development of the financial system and the proper functioning of payment systems, through schemes that allow authorized credit institutions acting as participants in the Interbank Dollar Payment System (SPID) to adequately focus their attention on the development of their systems and processes to make their operation in the Interbank Electronic Payment System (SPEI) administered by the Banco de México, in which they also participate, more robust, has considered it convenient to extend the effective date of what is provided in fraction IV and the second paragraph of the 29th of the "Rules of the Interbank Dollar Payment System", issued through Circular 4/2016 of the Banco de México, published in the Official Gazette of the Federation on March 11, 2016, as modified according to the Circulares issued subsequently, in relation to the obligation of the referred institutions acting as SPID participants to apply the contingency procedure known as "Alternate Operation Client SPID" (COA-SPID), as well as the authority of the SPID administrator to put into operation the contingency procedure known as "Alternate SPID Operation Procedure" (POA-SPID), in the cases foreseen in said rule.

For the above, based on articles 28, sixth and seventh paragraphs, of the Political Constitution of the United Mexican States, 2, fractions I, IV and VIII, and 6, of the Payment Systems Law, 22 of the Law for Transparency and Orderly Regulation of Financial Services, 4, first paragraph, 8, fourth and seventh paragraphs, 10, first paragraph, 17, fraction I, 20, fraction XI, and 25 Bis 1, fraction IV, of the Internal Regulations of the Banco de México, which grant it the authority to issue provisions through the Directorate of Central Banking Provisions, Directorate of Payment Systems and Directorate of Regulation and Supervision, respectively, as well as Second, fractions I, VIII and X, of the Agreement on the Attachment of the Administrative Units of the Banco de México, it has resolved to modify the eleventh transitory article of the "Rules of the Interbank Dollar Payment System", contained in Circular 4/2016, to read as follows:

RULES OF THE INTERBANK DOLLAR PAYMENT SYSTEM

"TRANSITORY PROVISIONS
ELEVENTH. The provision contained in fraction IV and the last paragraph of the 29th of these Rules shall enter into force on October 1, 2018."

TRANSITORY PROVISION
SINGLE. This Circular shall enter into force on the day of its publication in the Official Gazette of the Federation.

Mexico City, May 30, 2018.- The Director of Central Banking Provisions, Mario Ladislao Tamez López Negrete.- Signature.- The Director of Payment Systems, Miguel Ángel Díaz Díaz.- Signature.- The Director of Regulation and Supervision, Viviana Garza Salazar.- Signature.

Friday, June 1, 2018 OFFICIAL GAZETTE (First Section) For any inquiries regarding the content of this Circular, please contact the Management of Authorizations, Inquiries and Legal Control, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000, extension 3200.