Regulatory Alerts2024-10-14 | DOF 5741042Added
Agreement Reforming the Rules of Operation of the Budgetary Income Stabilization Fund
The Secretariat of Finance and Public Credit amends Articles 1.2, 2.1, 2.2, 4.1, 4.2, 5.1, and 7, and adds Articles 4.3, 4.4, 5.3, and new paragraphs to Article 7 of the Rules of Operation of the Budgetary Income Stabilization Fund. The amendments require that contributions made via federal credit titles be non-negotiable, denominated in national currency, and have a maturity of no more than six months. The fund's patrimony now explicitly includes government securities and liquid resources from credit title maturities, which must be held in custody by the fiduciary institution until liquidated. The fiduciary institution is mandated to provide information to auditing authorities and may hire external auditors designated by the Ministry of Public Function upon committee authorization. These changes implement legislative mandates to establish additional revenue sources for the fund and entered into force the day following publication on October 14, 2024.
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