Amending Resolution to the Resolution Modifying General Provisions Applicable to Savings and Loan Cooperative Societies Activities, Published April 9, 2024

DOF: 27/12/2024

AMENDING RESOLUTION TO THE RESOLUTION THAT MODIFIES THE GENERAL PROVISIONS APPLICABLE TO THE ACTIVITIES OF SAVINGS AND LOAN COOPERATIVE SOCIETIES, PUBLISHED ON APRIL 9, 2024

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Treasury.- Ministry of Treasury and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on the provisions of articles 31, first paragraph, fraction VII; 32; 34, first and second paragraphs; 40, first paragraph; and 70, third paragraph of the Law to Regulate the Activities of Savings and Loan Cooperative Societies; 98 Bis of the Credit Institutions Law; as well as 4, fractions II, III, IV, V, XXXVI and XXXVIII, and 16, fraction I of the Law of the National Banking and Securities Commission, and

CONSIDERING

That on April 9, 2024, the "Resolution that modifies the General Provisions applicable to the activities of Savings and Loan Cooperative Societies" was published in the Official Gazette of the Federation, with which the regulatory framework applicable to Savings and Loan Cooperative Societies with operation levels I to IV was updated in the matters of accounting criteria, credit portfolio classification, approval, dissemination and content of financial statements, regulatory reports, and disclosure of financial information, with the aim of making it consistent with national and international financial information standards.

The aforementioned resolution has an effective date of January 1, 2025;

That Savings and Loan Cooperative Societies, derived from the results obtained from the preparation process for the implementation of the modifications indicated in the previous paragraph, identified the need to have more time to adapt their accounting information systems, in order to comply in a timely manner with said standards, and

That, in view of the foregoing, it is necessary to extend the effective date of said modifications, in order for the societies to be able to fulfill their obligation to deliver to this decentralized body their regulatory reports, financial statements and other financial information, has resolved to issue the following:

AMENDING RESOLUTION TO THE "RESOLUTION THAT MODIFIES THE GENERAL PROVISIONS APPLICABLE TO THE ACTIVITIES OF SAVINGS AND LOAN COOPERATIVE SOCIETIES", PUBLISHED IN THE OFFICIAL GAZETTE OF THE FEDERATION ON APRIL 9, 2024

SINGLE.- The TRANSITORY ARTICLES FIRST, THIRD, FOURTH and SIXTH of the "Resolution that modifies the General Provisions applicable to the activities of Savings and Loan Cooperative Societies", published in the Official Gazette of the Federation on April 9, 2024, are REFORMED, to read as follows:

"FIRST.- This Resolution shall enter into force on January 1, 2026, with the exception of the modifications to the criterion "B-5 Assets adjudicated" contained in Annex E, which shall enter into force on the first day of the calendar month immediately following the date of publication of this Resolution in the Official Gazette of the Federation."

"THIRD.- The basic consolidated quarterly and annual financial statements that, in accordance with this Resolution, are required from Savings and Loan Cooperative Societies, corresponding to the period ended on December 31, 2026, may not be presented comparatively with each quarter of the 2025 fiscal year nor for the period ended on December 31, 2025.

FOURTH.- The tests that Savings and Loan Cooperative Societies carry out in accordance with paragraphs 45 and 46 of criterion B-4 "Credit Portfolio" contained in Annex E of the "General Provisions applicable to savings and loan cooperative societies", to determine if the credit portfolio portfolios current as of December 31, 2025, meet the assumption that the cash flows of the contracts correspond only to principal and interest payments, must be authorized by the credit committee of the Savings and Loan Cooperative Society. Subsequently, said tests and their results must be delivered in writing to the National Banking and Securities Commission no later than February 27, 2026."

"SIXTH.- Savings and Loan Cooperative Societies, in order to constitute the total amount of preventive estimates for credit risks that arise from the use of the methodologies that are replaced with this instrument, must observe the determinations of this transitory article.

The initial financial effect shall be understood as the difference resulting from subtracting the reserves that must be constituted in accordance with this instrument, applying the methodology in effect from January 1, 2026, using the total balance of the commercial credit portfolio as of December 31, 2025; minus, the reserves that were constituted with the methodology in effect until December 31, 2025, using the balance of the commercial credit portfolio as of December 31, 2025.

This calculation must be carried out upon the entry into force of this Resolution.

Societies may opt for one of the following alternatives for the constitution of preventive estimates for credit risks:

I. Recognize in the accounting capital, within the result of prior periods to January 31, 2026, the initial financial effect derived from applying for the first time the credit portfolio classification methodology that corresponds, provided that it is disclosed in the corresponding quarterly and annual financial statements of the 2026 fiscal year, as well as in any public communication of financial information, at minimum the following:

a) That it opted to carry out the total recognition of the initial financial effect upon the entry into force of this Resolution;

b) A broad explanation of the accounting record made for the recognition of said effect;

c) A detailed explanation regarding the items and amounts for which the accounting charge was made.

II. Recognize in the accounting capital, within the result of prior periods, the initial financial effect; that is, the amount of reserves for the commercial credit portfolio corresponding to the month of the calculation, deferred over a period of 24 months counted from January 31, 2026, in accordance with the following formula:

Where:

= Amount of reserves to be recognized in the accounting capital for the commercial credit portfolio corresponding in month i.

= Initial Financial Effect

For this purpose, the entities must recognize in the statement of financial position 100% of the initial effect for the preventive estimate for credit risks and a deferred charge for the same amount that will be reduced monthly against the result of prior periods, until completing the recognition of the initial effect on December 31, 2027.

With respect to this, the societies must disclose in the corresponding quarterly and annual financial statements of the 2026 and 2027 fiscal years, the effect that derives from what is provided in this fraction, as well as in any public communication of financial information, at minimum the following:

a) That it opted to carry out the deferred recognition of the initial financial effect, derived from the application of these provisions, over a period of 24 months.

b) A detailed explanation regarding the items and amounts for which the accounting charge was made and its effect on the capitalization index and its components.

Societies must have constituted 100% of the amount of the reserves derived from the use of the methodologies applicable to the commercial credit portfolio, in accordance with this Resolution, by December 31, 2027."

TRANSITORY SINGLE.- This Resolution shall enter into force on the day following its publication in the Official Gazette of the Federation.

Respectfully

Mexico City, December 20, 2024.- President of the National Banking and Securities Commission, Dr. Jesús de la Fuente Rodríguez.- Signature.

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