Regulatory Alerts2024-12-27 | DOF 5746255Added
Amending Resolution to the Resolution Modifying General Provisions Applicable to Savings and Loan Cooperative Societies Activities, Published April 9, 2024
The National Banking and Securities Commission extends the effective date of the April 9, 2024 regulatory modifications for Savings and Loan Cooperative Societies from January 1, 2025, to January 1, 2026. The resolution exempts these entities from presenting comparative financial statements for the 2025 period and mandates that credit portfolio tests for December 31, 2025, be authorized by the cooperative's credit committee and submitted to the Commission by February 27, 2026. It also establishes specific transitional accounting methods for recognizing initial financial effects related to credit risk reserves, allowing either immediate recognition in retained earnings or a deferred recognition over 24 months ending December 31, 2027.
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