Circular 11/2022 — Modifications to Circular 3/2012 (Annex 20)

Wednesday, October 5, 2022 OFFICIAL GAZETTE 489 BANCO DE MEXICO CIRCULAR 11/2022 addressed to credit institutions, regulated multiple-object financial societies that maintain equity links with credit institutions and the National Financial Development Institution for Agricultural, Rural, Forestry, and Fisheries Development, regarding the Modifications to Circular 3/2012 (Annex 20).

At the margin a logo, which says: Bank of Mexico.- “2022, Year of Ricardo Flores Magón”.

CIRCULAR 11/2022 TO CREDIT INSTITUTIONS, REGULATED MULTIPLE-OBJECT FINANCIAL SOCIETIES THAT MAINTAIN EQUITY LINKS WITH CREDIT INSTITUTIONS AND THE NATIONAL FINANCIAL DEVELOPMENT INSTITUTION FOR AGRICULTURAL, RURAL, FORESTRY, AND FISHERIES DEVELOPMENT:

SUBJECT: MODIFICATIONS TO CIRCULAR 3/2012 (ANNEX 20)

The Bank of Mexico, in order to continue promoting the sound development of the financial system and that multiple-banking institutions are able to continue carrying out the calculation regarding liquidity asset shortfalls provided for in the admission of liabilities and investment regimes for passive operations in foreign currency established in the “Applicable Provisions to the Operations of Credit Institutions, Regulated Multiple-Object Financial Societies that Maintain Equity Links with Credit Institutions and the National Financial Development Institution for Agricultural, Rural, Forestry, and Fisheries Development” contained in Circular 3/2012, has resolved to modify Annex 20 of the aforementioned Provisions, in order to make known the applicable calculation periods during 2023, 2024, 2025 and 2026, without submitting these modifications to public consultation, since they do not imply changes to the aforementioned investment regime, but only update the calculation periods for liquidity asset shortfalls.

For the above reason, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 24, 26, 32 and 33 of the Bank of Mexico Law, 48 of the Credit Institutions Law, 22 of the Law for Transparency and Ordering of Financial Services, 1, 4, first paragraph, 8, paragraphs fourth and eighth, 10, first paragraph, 12, first paragraph, in relation to 19 Bis, fraction V, 14, first paragraph, in relation to 25 Bis, fraction VII, 14 Bis, first paragraph, in relation to 17, fraction I, and 14 Bis 1, first paragraph, in relation to 25 Bis 1, fraction IV, of the Internal Regulations of the Bank of Mexico, 13, fraction IV, of the Policies for public consultation of general provisions issued by the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Central Banking Operations, the General Directorate of Financial Stability, the General Legal Directorate and the General Directorate of Financial System Affairs, respectively, as well as Second, fractions I, IV, VI and X, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, has resolved to modify Annex 20 of the “Applicable Provisions to the Operations of Credit Institutions, Regulated Multiple-Object Financial Societies that Maintain Equity Links with Credit Institutions and the National Financial Development Institution for Agricultural, Rural, Forestry, and Fisheries Development”, contained in Circular 3/2012, to read as follows:

APPLICABLE PROVISIONS TO THE OPERATIONS OF CREDIT INSTITUTIONS, REGULATED MULTIPLE-OBJECT FINANCIAL SOCIETIES THAT MAINTAIN EQUITY LINKS WITH CREDIT INSTITUTIONS AND THE NATIONAL FINANCIAL DEVELOPMENT INSTITUTION FOR AGRICULTURAL, RURAL, FORESTRY, AND FISHERIES DEVELOPMENT

“ANNEX 20 Calendar of periods for purposes of calculation regarding Liquidity Asset Shortfalls

Initial Date of Period	Final Date of Period
January 5, 2023	February 1, 2023
February 2, 2023	March 1, 2023
March 2, 2023	March 29, 2023
March 30, 2023	April 26, 2023
April 27, 2023	May 24, 2023
May 25, 2023	June 21, 2023
June 22, 2023	July 19, 2023
July 20, 2023	August 16, 2023
August 17, 2023	September 13, 2023
September 14, 2023	October 11, 2023
October 12, 2023	November 8, 2023
November 9, 2023	December 6, 2023
December 7, 2023	January 3, 2024
January 4, 2024	January 31, 2024
February 1, 2024	February 28, 2024
February 29, 2024	March 27, 2024
March 28, 2024	April 24, 2024
April 25, 2024	May 22, 2024
May 23, 2024	June 19, 2024
June 20, 2024	July 17, 2024
July 18, 2024	August 14, 2024
August 15, 2024	September 11, 2024
September 12, 2024	October 9, 2024
October 10, 2024	November 6, 2024
November 7, 2024	December 4, 2024
December 5, 2024	January 1, 2025
January 2, 2025	January 29, 2025
January 30, 2025	February 26, 2025
February 27, 2025	March 26, 2025
March 27, 2025	April 23, 2025
April 24, 2025	May 21, 2025
May 22, 2025	June 18, 2025
June 19, 2025	July 16, 2025
July 17, 2025	August 13, 2025
August 14, 2025	September 10, 2025
September 11, 2025	October 8, 2025
October 9, 2025	November 5, 2025
November 6, 2025	December 3, 2025
December 4, 2025	December 31, 2025
January 1, 2026	January 28, 2026
January 29, 2026	February 25, 2026
February 26, 2026	March 25, 2026
March 26, 2026	April 22, 2026
April 23, 2026	May 20, 2026
May 21, 2026	June 17, 2026
June 18, 2026	July 15, 2026
July 16, 2026	August 12, 2026
August 13, 2026	September 9, 2026
September 10, 2026	October 7, 2026
October 8, 2026	November 4, 2026
November 5, 2026	December 2, 2026
December 3, 2026	December 30, 2026”

TRANSITORY SINGLE. This Circular shall enter into force on January 5, 2023.

Wednesday, October 5, 2022 OFFICIAL GAZETTE 491 Mexico City, September 28, 2022.- BANK OF MEXICO: General Director of Central Banking Operations, Gerardo Israel García López.- Signature.- General Director of Financial Stability, Fabrizio López Gallo Dey.- Signature.- General Legal Director, Luis Urrutia Corral.- Signature.- General Director of Financial System Affairs, José Luis Negrín Muñoz.- Signature.

For any queries regarding the content of this Circular, the Bank of Mexico is at your disposal through the Directorate of Central Banking Authorizations and Sanctions at telephone (55) 5237-2000 extension 3200.