Circular 12/2019 — Modifications to Circular 3/2012 (CoDi Transfer Implementation)

Thursday, October 3, 2019 OFFICIAL GAZETTE 1 BANCO DE MEXICO CIRCULAR 12/2019 addressed to Credit Institutions, the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development, as well as to Regulated Multiple-Object Financial Societies that maintain equity links with Credit Institutions, regarding the Modifications to Circular 3/2012 (Implementation of CoDi Transfers).

At the margin, a logo that says: Bank of Mexico.- “2019, Year of the Southern Leader, Emiliano Zapata”.

CIRCULAR 12/2019 TO CREDIT INSTITUTIONS, THE NATIONAL FINANCIAL INSTITUTION FOR AGRICULTURAL, RURAL, FORESTRY AND FISHERIES DEVELOPMENT, AS WELL AS TO REGULATED MULTIPLE-OBJECT FINANCIAL SOCIETIES THAT MAINTAIN EQUITY LINKS WITH CREDIT INSTITUTIONS: SUBJECT: MODIFICATIONS TO CIRCULAR 3/2012 (CODI TRANSFER IMPLEMENTATION)

The Bank of Mexico, through Circular 8/2019 published in the Official Gazette of the Federation on May 20, 2019, made modifications to the Rules of the Interbank Electronic Payment System (SPEI), originally issued through Circular 14/2017, published in the Official Gazette of the Federation on July 4, 2017. These modifications aimed to implement, through the indicated system, the electronic platform called “Digital Collection” (CoDi). This will allow clients of entities participating in said system to make electronic payments through a scheme in which the payment is requested, by who would be the recipient of the funds, from a mobile device or from the internet and the issuer of the payment authorizes it from their own device. In this way, it is sought that the CoDi platform provides a secure and efficient payment method for small businesses, e-commerce businesses, service providers and the general public to make collections with the security and efficiency advantages of electronic transfers.

Likewise, considering that through Circular 9/2019, published in the Official Gazette of the Federation on June 13, 2019, various regulatory scenarios were included in Circular 3/2012 regarding reports with BREMS for overdrafts in the Single Account and risk mitigation in financing operations, it is considered convenient to reflect such changes in the index of said Circular 3/2012.

In this regard, the Central Bank, with the purpose of continuing to promote the good functioning of payment systems, as well as to promote the healthy development of the financial system and protect the interests of the public, has determined it necessary to make modifications to the “Provisions applicable to the operations of credit institutions, regulated multiple-object financial societies that maintain equity links with credit institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development”, issued through Circular 3/2012, with the aim that credit institutions can carry out the operations they are authorized to perform in accordance with said provisions in a way that allows the execution of those payment operations referred to schemes such as CoDi, through conditions that provide certainty and security to the institutions themselves and their clients.

For the above, based on articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 24 and 26 of the Bank of Mexico Law, 48 of the Credit Institutions Law, 87-D, paragraph fourth, of the General Law of Organizations and Auxiliary Activities of Credit, 22 of the Law for Transparency and Ordering of Financial Services, 4, paragraph first, 8, paragraphs fourth and seventh, 10, paragraph first, 12 Bis, paragraph first, in relation to 20 Quáter, fraction IV, 14 Bis, paragraph first, in relation to 17, fraction I, 19 Bis, fraction V, 20 Quáter, fraction IV, and 25 Bis 1, fraction IV, of the Internal Regulations of the Bank of Mexico, which grant it the attribution to issue provisions through the General Directorate of Payment Systems and Market Infrastructures, the General Legal Directorate, the Directorate of National Operations and the Directorate of Regulation and Supervision, respectively, as well as Second, fractions I, VI, X and XVII of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, has resolved to modify the Index and article 129 Bis, paragraph second, add the definitions of “Payment Message” and “Software Program” to article 2º, articles 17 Bis and 17 Ter, as well as Annex 28, as well as repeal the last paragraph of article 17, with its respective fractions, of the “Provisions applicable to the operations of credit institutions, regulated multiple-object financial societies that maintain equity links with credit institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development”, contained in Circular 3/2012, to remain in the following terms:

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

INDEX …

SECOND TITLE OPERATIONS WITH THE PUBLIC CHAPTER I PASSIVE OPERATIONS Section I Passive operations in national currency …

Section B Demand Deposits …

“Article 17 Bis.- Electronic fund transfers by acceptance of Payment Messages” “Article 17 Ter.- Requirements for electronic fund transfers” …

THIRD TITLE OPERATIONS WITH THE BANK OF MEXICO CHAPTER I DEPOSITS IN THE BANK OF MEXICO Section I In national currency (Single Account) …

“Article 115 Bis.- Characteristics of overdrafts in the Single Account guaranteed with the deposit of monetary regulation” “Article 115 Bis 1.- Contract for the celebration of repurchase agreements to guarantee the overdraft of the Single Account” “Article 115 Bis 2.- Characteristics of the Repurchase Agreements” “Article 115 Bis 3.- Formalization of the repurchase agreements” “Article 115 Bis 4.- Determination of the deposits in the special deposit account for the overdraft of the Single Account” “Article 115 Bis 5.- Characteristics of special deposits” …

“CHAPTER VIII CONSTITUTION OF SPECIAL GUARANTEES FOR OPERATIONS WITH THE BANK OF MEXICO” “Article 195 Bis 3.- Obligation to constitute Special Guarantees” “Article 195 Bis 4.- Determination of the value of the Special Guarantees that must be constituted by the Institutions” “Article 195 Bis 5.- Constitution of the Special Guarantees” “Article 195 Bis 6.- Procedure for substitution of Special Guarantees” “Article 195 Bis 7.- Withdrawal of excess Special Guarantees” “Article 195 Bis 8.- Credit of accessories”

Thursday, October 3, 2019 OFFICIAL GAZETTE 3 “Article 195 Bis 9.- Procedure for non-compliance in delivery of Special Guarantees” …

ANNEXES …

“Annex 5 Model of request for segregation of deposits in Dollars to the account for guarantees or special guarantees” “Annex 5 Bis Model of request for withdrawal of deposits in Dollars granted as guarantee” “Annex 5 Bis 1 Model of request to guarantee overdrafts in the Single Account, in accordance with what is established in fraction I, of article 115 Bis of the Provisions applicable to the Operations of Credit Institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development, issued by the Bank of Mexico through Circular 3/2012” “Annex 5 Bis 2 Model of request for the formalization of repurchase operations with the Bank of Mexico, in accordance with what is established in fraction II of article 115 Bis, in subsection ii), of fraction III, of article 115 Bis 2 and in article 115 Bis 3 of the Provisions applicable to the Operations of Credit Institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development, issued by the Bank of Mexico through Circular 3/2012” …

“Annex 12 Bis Communication to the Operations Management Department to request the constitution of guarantees or special guarantees through deposits” “Annex 12 Bis 1 Communication to the Operations Management Department to request the substitution of deposits delivered in pledge or titles delivered in stock pledge that constitute the special guarantees” “Annex 12 Bis 2 Communication to the Operations Management Department to request the return of excess special guarantees constituted with titles” “Annex 12 Bis 3 Communication to the Operations Management Department to request the return of excess special guarantees constituted with deposits” “Annex 12 Bis 4 Model of request to transfer the titles subject to the repurchases referred to in articles 156 and 189 of Circular 3/2012 to the securities deposit account that the institution for the deposit of securities keeps at the Bank of Mexico” “Annex 12 Bis 5 Communication to the Operations Management Department to request the constitution of special guarantees with titles” …

“Annex 28 Request to obtain the authorization referred to in Article 17 Bis to receive instructions for electronic fund transfers originated by the acceptance of Payment Messages through programs other than Software Programs”

Definitions Article 2º.- … …

“Payment Message: that message processed through computing programs of the participant of the payment system for electronic fund transfers between Demand Deposit Accounts, among others, which is generated by the holder of the account designated as the recipient of the resources of the fund transfer object of said message, so that, in turn, it is delivered to the holder of the account in the Institution from which said transfer originates, with the purpose that, once the latter accepts what is indicated in said message, the funds indicated in the own message are transferred to the referred recipient account.” …

“Software Program: that computing program that, on the one hand, is developed by (i) the administrator of the payment system for electronic fund transfers between Demand Deposit Accounts, among others, (ii) a participant in said payment system, or (iii) a third party recognized by the Bank of Mexico and that, on the other hand, performs the actions and complies with the requirements established in the internal norms provided for in the Payment Systems Law, which are applicable to the referred payment system.” …

Electronic fund transfers “Article 17.- … … Third paragraph. Repealed.”

“Electronic fund transfers by acceptance of Payment Messages Article 17 Bis.- The Institution that, on the one hand, is a participant in some payment system for electronic fund transfers executed on the same Banking Business Day of operation, between Demand Deposit Accounts, among others, and that, on the other hand (i) maintains open in it, at least, three thousand Demand Deposit Accounts, and (ii) offers to the respective account holders the issuance, through equipment, media, systems or mobile devices, of instructions for the execution of electronic fund transfer operations between Demand Deposit Accounts opened in the same Institution or in other Institutions that participate in the same clearing chamber for transfers through mobile devices, in terms of the “Rules for the organization, functioning and operation of clearing chambers for transfers through mobile devices” issued by the Bank of Mexico, shall:

I. Allow the referred account holders to instruct electronic fund transfers through the acceptance of Payment Messages generated through a Software Program, in terms of the provisions applicable to the payment system for electronic fund transfers in which it participates; II. Carry out the corresponding credit of the resources corresponding to those electronic fund transfers executed as a result of the acceptance of Payment Messages, in terms of the applicable provisions and in the times, schedules and other conditions specified in the internal norms corresponding to the cited payment system, and III. Allow the referred account holders to instruct the Institution itself that the electronic fund transfers referred to in this article be returned to the corresponding issuers in the same terms of the applicable provisions.

For the purposes of what is established in the first paragraph of this article, the calculation of the number of Demand Deposit Accounts referred to in subsection (i) of said paragraph shall be determined by the Institution itself at the close of each calendar quarter, based on the information that the Institution itself reports to the Bank of Mexico in attention to the information requirements made by the Directorate of Information of the Financial System or, if applicable, said calculation shall be made based on the information of said Demand Deposit Accounts that corroborates the Bank of Mexico derived from the verification that it carries out in exercise of its supervisory attributes.

In the event that an Institution is interested in offering to the holders of the Demand Deposit Accounts, among others, opened in it, the receipt of resources derived from electronic fund transfers executed charged to Demand Deposit Accounts opened in the same Institution, in accordance with instructions issued through equipment, media, systems or mobile devices, as a result of the acceptance of Payment Messages generated through programs other than Software Programs, it must request prior authorization from the Bank of Mexico to carry out such actions. For such purposes, the referred Institution must present its authorization request to the Central Banking Authorizations and Consultations Department, in terms of Annex 28 of these Provisions.

As an exception to what is established in the previous paragraph, the authorization of the Bank of Mexico will not be required to carry out the actions indicated in said paragraph, in the event that the Institution determines to carry out electronic fund transfers executed between Demand Deposit Accounts opened in the same Institution, by the acceptance of Payment Messages through programs other than Software Programs, provided that, in the calendar month in question, the total accumulated amount of said transfers does not exceed eight million pesos and the Institution has agreed to send or receive said transfers with the holders of the respective Demand Deposit Accounts that, in total, do not exceed 1,000 distinct Accounts.

The Institution that determines to carry out electronic fund transfers originated by the acceptance of Payment Messages through programs other than Software Programs, subject to being located within the limits mentioned in the previous paragraph, must inform said determination to the Bank of Mexico, through a letter addressed to the Directorate of Policy and Studies of Payment Systems and Market Infrastructures, with at least ten Banking Business Days in advance of the date on which it begins the sending and reception of the referred transfers.

The Institution that, not being located in the scenario provided for in the first paragraph of this article, is not obliged to offer to the holders of the Accounts referred to in said paragraph the execution of the electronic fund transfer operations referred to therein, may offer and carry out said mode of execution of transfers if it so determines, in which case it must be subject to what is established in this article.”

“Requirements for electronic fund transfers Article 17 Ter.- In the scenarios referred to in the previous article 17, the Institutions must carry out the respective operations in the terms and under the following conditions:

I. (A) The Institutions must assign a CLABE to each account of levels 2, 3 and 4 that they maintain open, as well as identify them with the sixteen reference digits of the corresponding valid debit cards of said accounts that, if applicable, they have issued;

I. (B) Regarding level 1 accounts, the Institutions must identify them with the sixteen reference digits of the respective valid debit cards and, if they so determine, they may also identify them with the CLABEs that correspond;

I. (C) Without prejudice to what is established in fractions I. (A) and I. (B) and subject to the terms and exceptions indicated below, the Institution that maintains open accounts of levels 2, 3 or 4 must, at the request of the holder of the account in question, associate with this the last ten digits of the number of a mobile phone line that they indicate, with the purpose of receiving, through the credit to said account, electronic fund transfers executed in terms of article 17. Likewise, Institutions that maintain open level 1 accounts may, if they so determine, offer to their clients, for the aforementioned purpose, the association of said digits of mobile phone lines that the respective holders indicate to said accounts.

For the purposes of what is established in the previous paragraph, the Institutions must:

(i) Associate the last ten digits of the number of a mobile phone line only to the account that the respective holder indicates among all those that the Institution in question maintains open in the name of the same holder, in order to credit to that single account the resources derived from the orders of electronic fund transfers that indicate said ten digits to identify it. Likewise, only for the purposes of the reception of electronic fund transfers, the same Institution may only associate the last ten digits of a particular mobile phone line to only one of the accounts that it maintains open to all its clients.

Without prejudice to the above stated in this subsection, each Institution, if it so decides, may offer its clients the service of sending, to the same mobile phone line, notifications, balances, movements or alerts, related to other accounts of theirs.

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(ii) Associate the aforementioned digits of mobile telephone lines with the accounts that correspond under the terms of this article, as well as to dissociate or change the previously associated digits, based on the requests that the respective holders submit to them under the terms of this article, within a period not exceeding one Banking Business Day following the receipt of the request in question.

As an exception to the provisions of the preceding paragraph, the Institution that maintains open an account to which it has associated the last ten digits of a mobile telephone line number and that subsequently receives a request to associate the digits of that same number to another account of another holder, without having received the corresponding dissociation request from the holder of the previously associated account, must refrain from carrying out the association of said digits to the account indicated in said request, unless the Institution follows the procedures established by the National Banking and Securities Commission to validate the validity of the new association request.

(iii) Receive the requests referred to in the preceding subsection (ii) in their branches or through commissioned agents who have agreed to carry out this activity. Likewise, Institutions may, when they so determine, allow such requests to be presented to them verbally or by data messages, including those sent by mobile devices or through the electronic banking services offered via the Internet. In all these cases, the receipt of such requests must be carried out, at least, during the public service hours in branches. Institutions must allow the dissociation or change of mobile telephone line digits in the same manner and terms in which they allow association, and in any case, must allow the respective account holders to present the respective dissociation requests in their branches or, where applicable, through authorized commissioned agents.

Regarding the requests that Institutions receive in branches and, where applicable, commissioned agents, they must ensure that formats are used that contain at least the information included in annexes 24, 25, and 26. On the other hand, the information of annex 24 may be included in the corresponding account opening contracts. Regarding the requests that Institutions allow their clients to present through Internet portals, these must include the same information as that provided in the respective formats.

For the requests that Institutions allow their clients to present by means of mobile devices, such Institutions must ensure that they are carried out by means of the device whose mobile telephone line number is requested to be associated, dissociated, or replaced by another. Furthermore, for the requests referred to in this paragraph to be considered valid, Institutions must ensure that the terms in which these are carried out contemplate the same information as that included in the corresponding annexes cited in the previous paragraph and that the client expressly confirms that they were made aware of the information included in said annexes.

Institutions must refrain from including in the request formats, referred to in the two preceding paragraphs, requirements that inhibit, condition, or hinder the client from contracting or using the service.

Institutions may allow the presentation of the requests referred to in this subsection by means of mobile devices or Internet portals, subject to the condition that, to receive such requests, they follow the procedures in the same terms as those provided in the provisions of the National Banking and Securities Commission for the contracting of mobile banking services related to the respective accounts, as well as those procedures authorized by said Commission for the identification and authentication of their clients that they are obliged to follow in accordance with said provisions.

(iv) Keep a written or electronic record of the requests for association of the digits of the mobile telephone line numbers, as well as of the respective dissociation or change, and acknowledge receipt with at least a confirmation key or folio number assigned by the Institution in question to identify the request and the date of receipt, under the terms of the provisions of the National Banking and Securities Commission that are applicable.

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(v) Inform the holders of the accounts to which they request to associate mobile telephone line numbers, under the terms of this subsection, the last three digits of the number of the participant key registered in the SPEI catalog, as well as the denominations that, to identify the Institution itself, are registered by the Bank of Mexico in the catalog of identifiers of financial entities receiving electronic fund transfers originated by mobile devices, in accordance with the respective operation manual that, for this purpose, the Bank of Mexico issues.

Likewise, each Institution that associates mobile telephone line numbers to its clients' accounts at their request, must inform them that, in order for said Institution to receive, for the corresponding credit to the aforementioned accounts, the electronic transfer orders that indicate the last ten digits of mobile telephone line numbers to identify those accounts, said orders, at the time they are instructed by the originators, must include, at the end of the ten digits of the corresponding mobile telephone line number, those three digits of identification of the Institution itself that it informs under the terms of the preceding paragraph or, where applicable, any of the denominations that identify said Institution in accordance with what is provided in this subsection.

(vi) In accordance with what is established in the operation manual to administer the catalog of identifiers of financial beneficiary entities of transfers through mobile devices referred to in the preceding subsection, request the Bank of Mexico to carry out the registration in said catalog of the denominations that Institutions decide to assign to themselves, as well as to also register the last three digits of the number of the participant key in the SPEI catalog, in order for said denominations and digits to be used to identify them as receivers of the aforementioned transfers.

(vii) Notify their clients of the association of the respective accounts to the ten digits of mobile telephone line numbers that have been carried out, as well as of the dissociation or change that they have carried out. Such notices must be sent as data messages transmitted to the same telephone numbers that have been associated or by the same communication means used with the data that the holder himself has provided to receive notifications about transfers of monetary resources to third-party accounts carried out through electronic banking services, in accordance with the general provisions issued by the National Banking and Securities Commission.

Regarding the dissociation or change of digits of mobile telephone line numbers referred to in the preceding paragraph, the Institution that administers the respective account must give notice to the account holder in question on the same day that it carries out such dissociation or change and must indicate that, within a period not exceeding one Banking Business Day, all electronic fund transfers that indicate said digits will be rejected and that, in case those same digits are subsequently associated with any other account, the other electronic fund transfers that indicate such digits will be credited to that other account.

I. (D) Under the terms of the first paragraph of this article, Institutions must carry out the acceptance of electronic fund transfer orders and the credit to the accounts of the beneficiaries that such Institutions maintain open, regarding those orders that, in addition to complying with the requirements established for such purposes by the respective interbank payment systems that direct them, identify the corresponding beneficiary account solely with the assigned CLABE, the sixteen digits of the debit card with which, where applicable, they have identified said account, or the last ten digits of the mobile telephone line number that, where applicable, are associated with said account.

I. (E) Regarding those accounts for which they have agreed with the corresponding holders to execute the instructions for electronic fund transfers that they transmit to them by equipment other than mobile devices, Institutions must allow such instructions, at the choice of the respective holder, to identify the beneficiary account with the assigned CLABE or, alternatively, with the sixteen identification digits of the corresponding debit card or, where applicable, with the last ten digits of the associated mobile telephone line plus

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the three digits or any of the identification denominations of the receiving Institution referred to in subsection I. (C), subsection (v), above.

Regarding those accounts with respect to which Institutions have agreed with the respective holders to execute the instructions for electronic fund transfers that such holders transmit to them by a mobile device, Institutions are obliged to allow each holder, regardless of the Institution that holds the beneficiary's account, to specify solely the amount to be transferred and the last ten digits of the mobile telephone line associated with the corresponding beneficiary's account, as well as the last three digits of the number of the participant key in the SPEI catalog or any of the identification denominations of the Institution that holds the beneficiary's account referred to in subsection I. (C), subsection (v), above. In the cases referred to in this paragraph, the proper execution of the electronic fund transfer instructions will be subject to the condition that Institutions comply with the controls required by the general provisions of the National Banking and Securities Commission.

Likewise, regarding electronic fund transfers between Institutions participating in any of the payment systems provided for in the previous article 17 Bis, which allow their account holders to send and receive instructions for such transfers originated by the acceptance of Payment Messages generated through a Computer Program, the aforementioned Institutions must allow account holders to receive said messages and, where applicable, to specify solely the amount of the transfer in question, when the Payment Message does not include said data.

Without prejudice to what is stated in this subsection, Institutions may, if they so determine, offer to the holders of the accounts they maintain open that, in the instructions referred to in the second paragraph of this subsection, they indicate, at the choice of said holders, the beneficiary account with the CLABE assigned to said account, with the sixteen identification digits of the corresponding debit card or with some other specific data or names that the Institution in question has allowed the holder to assign for the purpose of identifying said account.

As part of what is provided in the second and fourth paragraphs of this subsection, in the information and communication technology applications that Institutions make available to their clients for the preparation and transmission of instructions for electronic fund transfers, these may enable interfaces that allow users to select the denomination that, in accordance with subsection I. (C), subsection (v), identifies the receiving Institution of the respective transfer.

With regard to the procedures to receive instructions for electronic fund transfers from their clients through mobile devices, Institutions must not differentiate such procedures if the respective beneficiary accounts are held by the Institution itself or other Institutions.

I. (F) Regarding each electronic fund transfer instruction that identifies the beneficiary's account with the last ten digits of a mobile telephone line number and includes at the end the three additional digits or any of the identification denominations of the receiving Institution of said transfer, in accordance with subsection I. (C), subsection (v), of this article, the Institution that receives that instruction from the client with whom it has contracted the provision of this service must follow the following procedure:

(i) If the referred three digits or identification denomination of the receiving Institution correspond to the same Institution that processes the referred instruction from its client, it must carry out the corresponding charge and credit to the respective accounts.

(ii) If the referred three digits or identification denomination of the receiving Institution of the transfer correspond to an Institution different from the one that processes the instruction from its client, in addition to the respective electronic fund transfer corresponding to a transfer through mobile devices, in terms of the "Rules for the organization, operation and functioning of clearing houses for transfers through mobile devices" issued by the Bank of Mexico, and both Institutions participate in the same clearing house of that type, the Institution that processes the instruction may do so under the terms agreed with said clearing house, and in case it does not process said instruction with that clearing house, it must process it under the terms of the following subsection.

(iii) If the referred three digits or identification denomination of the receiving Institution of the transfer correspond to an Institution different from the one that processes the instruction and the respective electronic fund transfer does not correspond to a transfer through mobile devices or, if said transfer does correspond to a transfer through mobile devices without any of said Institutions participating in the same clearing house of that type, the Institution that receives the instruction from its client, directly or through a commissioned agent with whom it has agreed the carrying out of these operations, must process said instruction through the SPEI in accordance with what is provided in the applicable provisions to said payment system, as well as in the corresponding operation manual.

In the event that an electronic fund transfer has not been able to be credited to the beneficiary's account, as a result of its return by the clearing house for transfers through mobile devices or by the SPEI, the Institution that has processed the respective order must credit the corresponding resources to the account of the holder who issued the instruction for said transfer, on the same day that it is notified or verifies said return, as the case may be.

II. (A) Institutions that accept orders for electronic fund transfers that identify the accounts of the respective beneficiaries with the last ten digits of the numbers of mobile telephone lines must notify the holders of the accounts in question about the credits that they carry out in said accounts, by the means they agree upon for this purpose or, in the absence thereof, through the account statement.

Each Institution must carry out the notification indicated in this subsection under the same conditions, in the same terms, deadlines and within the same hours as those applicable to electronic fund transfers that it carries out between accounts open with it itself.

II. (B) Regarding the Institution that participates in any of the payment systems contemplated in the first paragraph of the previous article 17 Bis, which, in turn, allows the holders of the respective Accounts to send and receive instructions for electronic fund transfers that are originated by the acceptance of Payment Messages generated through a Computer Program and that must be credited to an account of the same Institution, said Institution must send the notifications of the credit or, where applicable, rejection, whether attributable to the originating account or the beneficiary account, or the return that results from the corresponding resources to the transfer in question to the respective administrator of said payment system, in accordance with the internal norms applicable to said system, in order for this to notify, through the Computer Programs, to the respective originating and beneficiary account holders of the events indicated in the cited notifications as a result of such electronic fund transfers.

The Institution referred to in this subsection must send the notification indicated in this same subsection to the respective administrator of said payment system, in accordance with the internal norms applicable to the referred payment system, no later than within the second subsequent to that in which the referred credit, rejection or return of resources is carried out at the request of the beneficiary account holder or the corresponding return.

III. (A) Institutions must allow the holders of the accounts administered by them to include, in the instructions for electronic fund transfers that the Institutions themselves have offered to execute, the information that the holders consider pertinent to add in the fields that, for such purpose, they must establish in accordance with the operation manuals of the respective payment system. Regarding transfers through mobile devices, Institutions must allow the extension of said information to reach up to 40 characters for the payment concept. What is provided in this subsection will not be applicable regarding electronic fund transfers that use proximity communication technology.

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III. (B) Institutions shall send the information referred to in the preceding subsection as part of the electronic fund transfer orders they transmit to other Institutions, and, regarding that information included in the orders received by the Institutions themselves, they shall make it available to the holders of the respective recipient accounts.

III. (C) Institutions shall refrain from charging commissions: (i) To their clients, for the incorporation and sending of the information referred to in the preceding subsection III. (A), without prejudice to the commissions they may charge said clients for the processing and execution of the electronic fund transfer orders they send. (ii) To their clients, regarding the execution of electronic fund transfer instructions, transmitted through mobile devices, whose last ten digits of their mobile phone line numbers are associated with their Checking Deposit Accounts for amounts greater than the commissions they charge for the execution of said transfers between accounts opened at the same Institution, without prejudice to the fact that they may add to the corresponding amount the equivalent of the fee that SPEI or other concepts would charge, justified at the time of registering the commission with Banco de Mexico for carrying out said execution. (iii) Between the Institutions themselves, for the sending, receiving, return, or execution of electronic fund transfer orders that are transmitted, except for Direct Debits. (iv) To their clients, regarding the generation and receipt of Charge Messages, as well as the execution of electronic fund transfer instructions between Checking Deposit Accounts, among others, opened at the same Institution, for the acceptance of said messages, regarding those Institutions that allow their account holders to send, receive, or return electronic fund transfer instructions originated by Charge Messages generated through a Computer Program, as provided in the preceding Article 17 Bis.

III. (D) For the receipt of electronic fund transfers derived from orders that identify the respective beneficiary accounts with the last ten digits of the phone line numbers referred to in this article, as well as for the processing of electronic fund transfer instructions transmitted by mobile devices, Institutions shall refrain from conditioning the performance of said operations to the respective ten digits of the phone line number corresponding to a specific telecommunications service provider or excluding any of said providers.

Likewise, in the event that, for the processing of electronic fund transfer instructions transmitted by clients or for the receipt of such transfers derived from said processing, Institutions condition the transmission of data messages related to these operations through a specific data transmission modality that generates an additional cost or commission to the user of the phone line in question for the performance of the referred operations, Institutions shall inform the client about the charge that the telecommunications service provider could make for the sending of information.

IV. Make available to the public, through the portal they maintain on the Internet, a simple guide on the procedures, terms, and conditions applicable to the electronic fund transfer and Direct Debit services they offer between accounts opened at the same Institution or interbank, as well as send by email or deliver free of charge a printed copy of said guide to clients who request it at their branches.”

Transfers between SIAC-BANXICO and SPID Article 129 Bis.-… I. and II. … “ Institutions may request the transfer orders referred to in this article only between 08:00:00 and 17:09:59 hours of each Banking Business Day, and the transfers derived from said orders will have the same-day value date.”

“ANNEX 28

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Request to obtain the authorization referred to in Article 17 Bis to receive electronic fund transfer instructions originated by the acceptance of Charge Messages through programs other than Computer Programs

Institutions intending to obtain the authorization referred to in Article 17 Bis shall deliver the following information:

I. General description of the functioning of the scheme, which shall contain in detail, at least, the following: a. The different stages of processing. b. The settlement schemes and, where applicable, compensation schemes used, which allow making the resources of the operations available to beneficiaries in the shortest possible time in accordance with the technologies available for these schemes. c. The tariff schemes and commissions they intend to apply to users of the services. d. The schedules, processing times, and service levels at which they intend to offer the referred operations. e. The procedures for the resolution of disputes that may arise between users. f. The procedures through which their infrastructure intends to interact with other existing similar schemes, which must include the times, schedules, and other processing conditions. g. The tools that allow maintaining the traceability of operations and consulting the status of their operations to their clients. h. The legal acts they have celebrated with third-party service providers necessary for the processing of the operations.

II. The risks identified in their operation scheme as well as the elements and mechanisms to manage and administer them. Among these risks are: a. Alteration of the information contained in the operations to be processed. b. Impersonation of their clients when performing operations or carrying out other illicit activities.

III. Description of the reasons why the proposed operation scheme is not implemented considering the applicable provisions, schedules, and other conditions specified in the internal rules of any of the payment systems for electronic transfers in which they participate.”

TRANSITORY PROVISIONS

FIRST.- This Circular shall enter into force on the second Banking Business Day following the date of its publication in the Official Gazette of the Federation.

SECOND.- During the period between the date of publication in the Official Gazette of the Federation of this Circular and the date specified in the First Transitory Article, Institutions participating in any of the payment systems provided for in the first paragraph of Article 17 Bis of this Circular may offer their respective account holders to send and receive electronic fund transfer instructions through Computer Programs observing what is provided in this Circular, subject to obtaining the authorization of the respective administrator of said payment system. For these purposes, Institutions interested in offering their Clients the aforementioned shall present their respective request to the respective administrator of said payment system formulated in accordance with the internal rules of the payment system in question, as well as provide proof of certification required by said payment system in terms of its internal rules.

The presentation of the aforementioned request, as well as the proof of certification of participants who offer their Clients the sending or receipt of electronic fund transfer instructions originated from Charge Messages generated through Computer Programs, comprised between the entry into force date indicated in the First Transitory Article of this Circular and the publication date specified in the first paragraph of this article, implies the acceptance of these Provisions and of the internal rules of the payment system in question, by the respective participant and does not prejudge the accreditation of requirements for obtaining the corresponding authorization.

12 OFFICIAL GAZETTE Thursday, October 3, 2019

THIRD.- Those Institutions that on the date of publication of this Circular maintain programs other than Computer Programs with the characteristics referred to in the third paragraph of Article 17 Bis shall have until October 31, 2019 to request their authorization. In case of not delivering the request within the stated period, it shall be understood that the authorization has been rejected.

Mexico City, September 26, 2019.- The General Director of Payment Systems and Market Infrastructures, Manuel Miguel Ángel Díaz Díaz.- Rubric.- The Director of National Operations, Juan Rafael García Padilla.- Rubric.- The General Legal Director, Luis Urrutia Corral.- Rubric.- The Director of Regulation and Supervision, Viviana Garza Salazar.- Rubric.

For any queries regarding the content of this Circular, please contact the Central Bank Authorizations and Consultations Department, at the phones 55 5237-2308, 55 5237-2317 or 55 5237-2000 Ext. 3200.