Circular 15/2017 — Modification to Circular 4/2016

72 (First Section) OFFICIAL GAZETTE Tuesday, August 1, 2017

CIRCULAR 15/2017 addressed to Credit Institutions, regarding the Modification to Circular 4/2016 (Rules of the Interbank Payment System in Dollars).

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

CIRCULAR 15/2017

TO CREDIT INSTITUTIONS:

SUBJECT: MODIFICATION TO CIRCULAR 4/2016 (RULES OF THE INTERBANK PAYMENT SYSTEM IN DOLLARS)

The Bank of Mexico, considering the current conditions observed in the participants of the Interbank Payment System in Dollars (SPID), has decided to modify the Rules applicable to said Payment System in order to clarify the hours during which participants must allow their clients to submit transfer requests and those hours during which they may opt to allow the submission of said transfer requests.

For the above, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States; 2, sections I, IV, and VIII, and 6 of the Payment Systems Law; 22 of the Law for Transparency and Regulation of Financial Services; 4, first paragraph, 8, paragraphs fourth and seventh, 10, first paragraph, 15, first paragraph in relation to 20, section XI, 17, section I, and 25 Bis 1, section IV, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Payment Systems and Corporate Services, the Directorate of Central Banking Provisions, and the Directorate of Regulation and Supervision, respectively; as well as Second, sections I, VIII, and X, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, it has resolved to modify Rule 27a of Circular 4/2016, as modified by Circular 10/2017 “Modification to Circular 4/2016 (Rules of the Interbank Payment System in Dollars),” published in the Official Gazette of the Federation on May 29, 2017, of the “Rules of the Interbank Payment System in Dollars,” contained in Circular 4/2016, to read as follows:

RULES OF THE INTERBANK PAYMENT SYSTEM IN DOLLARS

“27a. SPID Operating Hours.- The operating hours of the SPID will begin at 08:00:00 hours and end at 17:14:59 hours of each Banking Business Day. Participants must allow their Sender Clients to present Transfer Requests during the hours between 8:00:00 and 15:59:59; without prejudice to the foregoing, Participants may opt to allow their Sender Clients to present Transfer Requests during the hours between 16:00:00 and 16:59:59. For its part, the period from 17:00:00 to 17:14:59 hours will be exclusive for Participants to receive, and if applicable, credit, Transfer Orders Accepted by SPID and to send Transfer Orders corresponding to the return type.”

TRANSITIONAL PROVISION

SINGLE. This Circular will enter into force on August 1, 2017.

Mexico City, July 28, 2017.- The General Director of Payment Systems and Corporate Services, Lorenza Martínez Trigueros.- Signature.- The Director of Central Banking Provisions, Mario Ladislao Tamez López Negrete.- Signature.- The Director of Regulation and Supervision, Viviana Garza Salazar.- Signature.

For any inquiries regarding the content of this Circular, please contact the Authorization, Consultations, and Legal Control Department, at the phone numbers (55) 5237-2308, (55) 5237-2317, or (55) 5237-2000 Ext. 3200.