Circular 2/2015 — Modification to Circular 4/2013

Friday, January 16, 2015 OFFICIAL GAZETTE (First Section)

BANK OF MEXICO

CIRCULAR 2/2015, addressed to participants in the Interbank Electronic Payment System (SPEI), regarding the Modification to Circular 4/2013.

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

CIRCULAR 2/2015

TO THE PARTICIPANTS IN THE
INTERBANK ELECTRONIC PAYMENT SYSTEM
(SPEI):

SUBJECT: MODIFICATION TO CIRCULAR 4/2013

The Bank of Mexico, in order to continue promoting the proper functioning of payment systems and the sound development of the financial system, taking into account the prevailing conditions of operations related to transfer orders through mobile devices by Participants and the costs associated with the operation of the Interbank Payment System (SPEI) during extended hours, subject to the reforms contained in Circular 4/2013, has resolved to exempt from the obligation to receive and credit the respective transfer orders during extended hours those Participants who maintain fewer than 1,500 demand deposit accounts during the third quarter of 2014.

For the above, based on Articles 28, sixth and seventh paragraphs, of the Political Constitution of the United Mexican States, 2, 3 fraction I, 24 and 31 of the Bank of Mexico Law, 6 and 10 of the Payment Systems Law, 22 of the Law for Transparency and Regulation of Financial Services; as well as Article 4, first paragraph, 8, fourth and seventh paragraphs, 10, first paragraph, 14 Bis, in relation to 17, fraction I, and 20, fraction XI, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Direction and the Payment Systems Direction, respectively, as well as Article 2, fractions VIII and X, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, it has resolved to add two paragraphs to the Third Transitory Provision of Circular 4/2013, modified by Circular 6/2014, in the following terms:

“TRANSITORY PROVISIONS

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THIRD. ...

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Those Participants who maintain fewer than 1,500 demand deposit accounts open during the third quarter of 2014 are exempt from the provisions of the preceding paragraph.

For the purposes of the preceding paragraph, the Bank of Mexico will determine the number of demand deposit accounts of Participants in the indicated quarter, based on the information they report to the Bank itself, through the information requests made by the Financial System Information Direction or, where applicable, those that the Bank verifies in the exercise of its supervisory attributes.

…”

TRANSITORY PROVISION

SINGLE. This Circular shall enter into force the day following its publication in the Official Gazette of the Federation.

Mexico, Federal District, January 14, 2015.- The General Legal Director, Luis Urrutia Corral.- Signature.- The Director of Payment Systems, Manuel Miguel Ángel Díaz Díaz.- Signature.

(First Section) OFFICIAL GAZETTE Friday, January 16, 2015

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