Circular 17/2022 — Modifications to Circular 3/2022 (Transitional Rules)

Tuesday, December 13, 2022 OFFICIAL GAZETTE 1
BANK OF MEXICO
CIRCULAR 17/2022 addressed to credit institutions and other companies that professionally provide the service of fund transfers, regarding Modifications to Circular 3/2022 (Transitional Rules).

A logo appears at the margin, which says: Bank of Mexico - "2022, Year of Ricardo Flores Magón".

CIRCULAR 17/2022
TO CREDIT INSTITUTIONS AND OTHER
COMPANIES THAT PROFESSIONALLY PROVIDE THE
SERVICE OF FUND TRANSFERS:
SUBJECT: MODIFICATIONS TO CIRCULAR
3/2022 (TRANSITIONAL RULES)

The Bank of Mexico, with the purpose of continuing to promote the proper functioning of payment systems, as well as promoting the healthy development of the financial system and the protection of the public's interests, with the commitment to continue providing the population with digital payment services in a safe and efficient environment for innovation, has resolved to modify Circular 3/2022, in order to defer the entry into force dates foreseen in the Transitional Rules of Circular 3/2022, regarding the provision of indirect participation services in the Interbank Electronic Payments System (SPEI).

For the above, based on articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 2, 3, fraction I, 24 and 35 Bis of the Bank of Mexico Law, 10 and 19 of the Payment Systems Law, 22 of the Law for Transparency and Ordering of Financial Services, 4, first paragraph, 8, paragraphs fourth and eighth, 10, first paragraph, 14 Bis, first paragraph, in relation to 17, fraction I, and 20 Quáter, fraction IV, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Direction and the Direction of Policy and Studies of Payment Systems and Market Infrastructures, respectively, as well as Second, fractions X and XVII, of the Agreement on the Attachment of Administrative Units of the Bank of Mexico, has resolved to modify the transitional provision FOURTH of Circular 3/2022, published in the Official Gazette of the Federation on March 23, 2022, to read as follows:

"TRANSITIONAL
...
FOURTH.- The additions of the second paragraph of fraction V, fractions XXI, XXII, XXIII and XXIV of the 15th shall enter into force on June 19, 2023."

TRANSITIONAL
UNIQUE. This Circular shall enter into force on the next Banking Business Day following its publication in the Official Gazette of the Federation.

2 OFFICIAL GAZETTE Tuesday, December 13, 2022
Mexico City, December 1, 2022.- BANK OF MEXICO: General Legal Director, Luis Urrutia Corral.- Signature.- Director of Policy and Studies of Payment Systems and Market Infrastructures, Othón Martino Moreno González.- Signature.

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