Circular 15/2015 — Postpones the Effective Date of Circular 9/2015

Monday, October 26, 2015 OFFICIAL GAZETTE (Third Section) CIRCULAR 15/2015 addressed to credit institutions, regulated and unregulated multiple-object financial societies, popular financial societies, community financial societies, savings and loan cooperative societies, credit unions, financial entities acting as trustees in trusts that grant credit to the public, as well as societies that habitually grant credit, regarding the extension of the effective date of Circular 9/2015 (Annual Total Cost (CAT)).

A logo appears at the margin, stating: Bank of Mexico.

CIRCULAR 15/2015 TO CREDIT INSTITUTIONS, REGULATED AND UNREGULATED MULTIPLE-OBJECT FINANCIAL SOCIETIES, POPULAR FINANCIAL SOCIETIES, COMMUNITY FINANCIAL SOCIETIES, SAVINGS AND LOAN COOPERATIVE SOCIETIES, CREDIT UNIONS, FINANCIAL ENTITIES ACTING AS TRUSTEES IN TRUSTS THAT GRANT CREDIT TO THE PUBLIC, AS WELL AS SOCIETIES THAT HABITUALLY GRANT CREDIT:

SUBJECT: EXTENSION OF THE EFFECTIVE DATE OF CIRCULAR 9/2015 (ANNUAL TOTAL COST (CAT))

The Bank of Mexico, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 24, 26, and 36, first paragraph, of the Bank of Mexico Law, 8, 21, and 22, of the Law for Transparency and Ordering of Financial Services, 4, first paragraph, 8, fourth and seventh paragraphs, 10, first paragraph, 17, fraction I, and 14 Bis 1, first paragraph, in relation to 25 Bis 1, fraction IV, and 25 Bis 2, fraction II, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the Directorate of Central Banking Provisions and the General Directorate of Affairs of the Financial System, respectively, as well as Second, fractions I and X, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, taking into account what is established in Articles 5 and 6, of the Law of Transparency and Promotion of Competition in Guaranteed Credit, as well as Article 6 of the Regulations of the Federal Law for Consumer Protection, which refers to the Annual Total Cost (CAT), and considering the convenience of granting a period that, under the prevailing circumstances currently, allows the financial entities referred to in Circular 21/2009, issued by the Bank itself, to fully comply with the provisions of said Circular, in terms of the reforms subject of Circular 9/2015, has resolved that the effective date of Circular 9/2015 (Modifications to Circular 21/2009 (Annual Total Cost (CAT)), published in the Official Gazette of the Federation on April 27, 2015), occurs on February 2, 2016. The provisions of this Circular enter into force on the day of its publication in the Official Gazette of the Federation.

Mexico, D.F., October 23, 2015.- The General Director of Affairs of the Financial System, Jesús Alan Elizondo Flores.- Signature.- The Director of Central Banking Provisions, Mario Ladislao Tamez López Negrete.- Signature.

For any queries regarding the content of this Circular, please contact the Management of Authorizations, Queries, and Legal Control, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000, extension 3200