Circular 14/2010 — Modification of Commission Collection Rules

Friday, April 16, 2010 OFFICIAL GAZETTE (First Section) 82

CIRCULAR 14/2010 Resolution modifying the commission collection rules.

At the margin a logo, which says: Bank of Mexico.

CIRCULAR 14/2010

TO CREDIT INSTITUTIONS,
LIMITED-OBJECT FINANCIAL SOCIETIES AND REGULATED MULTIPLE-OBJECT FINANCIAL SOCIETIES

SUBJECT: RESOLUTION MODIFYING THE COMMISSION COLLECTION RULES

The Bank of Mexico, based on Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 24 of the Bank of Mexico Law; 4 and 22 of the Law for Transparency and Order of Financial Services; 48 of the Credit Institutions Law; 8th paragraphs third and sixth, 10, 14 in relation with 25 fraction II; 17 fraction I and 20 fraction IV, which provide for the Bank of Mexico's authority to issue provisions through the General Directorate of Financial System Analysis, the Directorate of Central Banking Provisions, and the Directorate of Operational and Payment Systems, all of them of the Internal Regulations of the Bank of Mexico, as well as the Single Agreement on the Assignment of Administrative Units of the Bank of Mexico, fractions I, III and IV, has considered the request made by the Mexican Banks Association A.C., in which it states that for the purposes of what is provided in paragraphs 2.4 and 2.6 of the "General provisions regarding the collection of commissions", the mass migration of credit institutions to the new commission scheme could compromise the ATM network nationwide, considering that April 30 is a highly transactional date due to salary payments and that it is a weekend traditionally considered as a holiday in the country.

Since it is convenient to postpone by five calendar days the application of the commission collection scheme through automated teller machines provided for in paragraph 2.4, as well as the obligation to display the information established in paragraph 2.6, both of Circular 17/2009, added by Circular 24/2009 published in the Official Gazette of the Federation on October 12, 2009, this Central Bank, based on the grounds and considerations stated, has resolved to modify, from the date of publication of this Circular in the aforementioned Official Gazette, the Third Transitory Provision of the aforementioned Circular 24/2009, to remain in the following terms:

TRANSITORY PROVISIONS

"THIRD. The provisions of paragraphs 2.4 and 2.6 shall enter into force on May 5, 2010."

Mexico, D.F., April 15, 2010.- BANK OF MEXICO: The General Director of Financial System Analysis, José Gerardo Quijano León.- Signature.- The Director of Central Banking Provisions, Fernando Luis Corvera Caraza.- Signature.- The Director of Operational and Payment Systems, Ricardo Medina Alvarez.- Signature.

For any inquiries regarding the content of this Circular, please contact the Authorization, Consultations and Legality Control Department, located at 5 de Mayo Avenue number 2, sixth floor, Centro Neighborhood, Mexico City, D.F., C.P. 06059, or by telephone at 5237.2308, 5237.2000 ext. 3200 or 5237.2317.

Friday, April 16, 2010 OFFICIAL GAZETTE (First Section) 83