Amendment 2/16 to the Single Circular on Insurance and Sureties

DOF: 12/02/2016

Circular Amendment 2/16 of the Single Circular on Insurance and Sureties

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

CIRCULAR AMENDMENT 2/16 OF THE SINGLE CIRCULAR ON INSURANCE AND SURETIES

(Appendix A2.3.1.13 of Annex Transitorio 2)

The National Insurance and Sureties Commission, based on the provisions of articles 366, fraction II, and 372, fraction VI, of the Law of Insurance and Surety Institutions, and

CONSIDERING

That in accordance with the provisions of Provision A2.3.1.13. of Annex Transitorio 2, of the Single Circular on Insurance and Sureties and in relation to the constitution and increase of the special technical reserves of Insurance Institutions and Mutual Societies, the monthly effective rates will be those indicated in Appendix A2.3.1.13 of the same Single Circular.

That with the purpose of giving operational coherence to the foregoing, it is necessary to inform Insurance Institutions and Mutual Societies of the average monthly effective rates of the Certificates of the Treasury of the Federation for 28 days and of the LIBOR rate for 30 days, for the 2015 exercise.

For the aforementioned reasons, the National Insurance and Sureties Commission has resolved to issue the following modification to the Single Circular on Insurance and Sureties in the following terms:

SINGLE.-

Appendix A2.3.1.13., of Annex Transitorio 2, of the Single Circular on Insurance and Sureties is modified.

TRANSITORY

SINGLE.-

This Circular Amendment will enter into force the day following its publication in the Official Gazette of the Federation.

The foregoing is made known to you, based on article 366, fraction II, and 372, fraction VI, of the Law of Insurance and Surety Institutions.

Respectfully,

Effective Suffrage. No Re-election.

Mexico City, February 4, 2016.- The President of the National Insurance and Sureties Commission, Norma Alicia Rosas Rodríguez.- Signature.

APPENDIX A 2.3.1.13.

EFFECTIVE RATES FOR THE CALCULATION OF FINANCIAL PRODUCTS OF THE RESERVE FOR CATASTROPHIC RISKS

MONTH CETES 28 DAYS LIBOR 30 DAYS
JANUARY 0.2198 0.0143
FEBRUARY 0.2312 0.0132
MARCH 0.2499 0.0149
APRIL 0.2442 0.0148
MAY 0.2450 0.0156
JUNE 0.2434 0.0153
JULY 0.2458 0.0160
AUGUST 0.2499 0.0167
SEPTEMBER 0.2547 0.0165
OCTOBER 0.2482 0.0165
NOVEMBER 0.2482 0.0172
DECEMBER 0.2580 0.0304

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