Circular 20/2023 — Modifies Circular 36/2010 (Mandatory Adoption of the Fee Categories Catalog)

Friday, December 22, 2023 OFFICIAL GAZETTE 349 BANCO DE MEXICO CIRCULAR 20/2023, addressed to credit institutions, regulated multiple-object financial societies, electronic payment fund institutions, and collective financing institutions, regarding modifications to Circular 36/2010 (mandatory adoption of the fee categories catalog).

At the margin a logo, which says: Bank of Mexico.- “2023, Year of Francisco Villa, the revolutionary of the people”.

CIRCULAR 20/2023
TO CREDIT INSTITUTIONS, REGULATED MULTIPLE-OBJECT FINANCIAL SOCIETIES, ELECTRONIC PAYMENT FUND INSTITUTIONS AND COLLECTIVE FINANCING INSTITUTIONS:
SUBJECT: MODIFICATIONS TO CIRCULAR 36/2010 (MANDATORY ADOPTION OF THE FEE CATEGORIES CATALOG)

The Bank of Mexico, in order to continue promoting the sound development of the financial system, the proper functioning of payment systems, as well as protecting the interests of the public, has considered it convenient to modify the regulation issued by this Central Institute regarding fee registration to establish the procedure for the mandatory adoption of the fee categories catalog published on the Bank of Mexico’s website, so that users of financial services have uniform, comprehensive, and timely information regarding the fees that financial entities charge for the credit and payment services they offer, which will contribute to improving transparency, promoting competition among financial entities, and facilitating the public’s comparison and analysis of fees.

For the above, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 24, 26, and 36 of the Bank of Mexico Law, 4, 6, and 22 of the Law for Transparency and Ordering of Financial Services, 48 and 97 of the Credit Institutions Law, 1, 4, first paragraph, 8, fourth and eighth paragraphs, 10, first paragraph, 17, fraction I, 20 Quater, fraction IV, 25 Bis, fraction VII, and 25 Bis 3, 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, the Directorate of Payment Systems and Market Infrastructures Policy and Studies, the Directorate of Financial System Information, and the Directorate of Financial Services Evaluation of the Bank of Mexico, respectively, as well as Article Two, fractions I, IV, X, and XVII, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, it has resolved to modify paragraphs 2.1.3, first paragraph, 2.1.4, 2.2.2, 2.3, and 2.4, as well as add paragraph 2.1.3 Bis, of the “General Provisions on Fee Registration,” contained in Circular 36/2010, to read as follows:

GENERAL PROVISIONS ON FEE REGISTRATION

“2.1.3 Requests for the registration of one or more Fees or for increases to those already registered that Financial Entities submit to the Bank of Mexico must contain, at least, the following information:
…”

“2.1.3 Bis Requests for the modification of the name of one or more Fees already registered that Financial Entities submit to the Bank of Mexico must contain, at least, the following information:
I. The act or event with respect to which the corresponding Financial Entity charges the Fee indicated in said request, as well as its characteristics and the indication of the category to which said act or event corresponds, among those established by the Bank of Mexico in the catalog published on its website;
II. The name of the Fee at the time of submitting the request, and

350 OFFICIAL GAZETTE Friday, December 22, 2023
III. If applicable, any other information indicated in the operational aids for filling out the Fee registration request, available in the Fee Registration System.

In addition to what is provided in the preceding fractions, the Bank of Mexico, in accordance with the provisions of the following paragraph 2.4, may require the Financial Entity to provide additional information necessary to process the request for the change of name of the already registered Fee.”

“2.1.4 In the event that a Financial Entity intends to register a Fee or the modification of the name of already registered Fees whose act or event and characteristics do not correspond to any of the categories established by the Bank of Mexico in accordance with the respective fraction I of paragraphs 2.1.3 and 2.1.3 Bis above, such Financial Entity must submit an additional request to the Bank of Mexico to include the proposed category in said list. For these purposes, Financial Entities must submit the aforementioned request through the Fee Registration System.

The Bank of Mexico, based on the information presented by the Financial Entity in accordance with the preceding paragraph, will determine the admissibility or inadmissibility of the request, which it will notify to the Financial Entity in question, through the Fee Registration System, within a period not exceeding fifteen business days counted from the submission of the request.”

“2.2.2 Requests for Fee Registration, Name Change, or Increases to Existing Fees

Requests for Fee registration, name change, or increases to already registered fees that Financial Entities submit to the Bank of Mexico will be considered received by this entity when, within a maximum period of ten business days counted from their submission in accordance with paragraph 2.1.2, the Bank of Mexico itself does not communicate to the respective Financial Entity, in terms of paragraph 2.4, that the information presented by it is insufficient or contains errors.”

“2.3 FEE REGISTRATION

No later than the expiration of the deadlines referred to in the aforementioned paragraphs 2.2.1 and 2.2.2, as applicable, the Bank of Mexico, through the Fee Registration System, will notify the Financial Entity in question that the request complied with the provisions of paragraph 2.1, indicating the date on which the new Fee, the name change, the increase, the reduction, or the cancellation was registered.

In the event that the Bank of Mexico has not notified the aforementioned, nor has made any request in terms of the provisions of paragraph 2.4, the new Fee, the name change, the increase, the reduction, or the cancellation will be understood as registered upon the expiration of the deadline indicated in paragraphs 2.2.1 and 2.2.2, as applicable.”

“2.4 REQUIREMENT FOR A NEW REQUEST

When the information that Financial Entities present when requesting the registration of a Fee, name change, or increase to already registered fees, as well as the reduction of the amount or cancellation of those already registered, is insufficient or contains errors or omissions, the Bank of Mexico, within the deadlines referred to in paragraphs 2.2.1 or 2.2.2, as the case may be, will notify them of such situation through the Fee Registration System.

If applicable, the Financial Entity that receives the aforementioned notification may submit a new request in terms of paragraph 2.1 to correct the insufficiency or errors or omissions, as applicable.”

Friday, December 22, 2023 OFFICIAL GAZETTE 351 TRANSITIONAL PROVISIONS

FIRST.- This Circular will enter into force on January 15, 2024.

SECOND.- Financial Entities that, on the date of entry into force of this Circular, have Fees registered with the Bank of Mexico with a name different from the categories established in the fee categories catalog published on the Bank of Mexico’s website, must carry out the necessary procedures to obtain, no later than January 15, 2026, the registration of the modification of the name of said Fees in accordance with the referenced categories. For such purposes, Financial Entities must present and comply with the plan referred to in the following TRANSITIONAL ARTICLE THIRD.

On January 16, 2026, the Bank of Mexico will cancel Fees registered with a name different from the categories established in the fee categories catalog published on the Bank of Mexico’s website.

THIRD.- Each of the Financial Entities must submit to the Bank of Mexico, no later than April 15, 2024, its respective work plan to comply with the provisions of the preceding TRANSITIONAL ARTICLE SECOND, which must be signed by the general manager, the president of the board of directors, the president of the supervisory board, the sole administrator, the president of the risk committee, or by the president of the audit committee of the corresponding Financial Entity.

The work plan referred to in the immediate preceding paragraph must specify information regarding the stages and procedures aimed at complying with the provisions of the preceding TRANSITIONAL ARTICLE SECOND, the deadlines or terms to carry out and conclude each of said stages and procedures, as well as the areas of the Financial Entity that will be responsible for complying with and monitoring said plan.

Financial Entities must send to this Central Bank, with a copy to the general manager or sole administrator of the Financial Entity in question, a semi-annual compliance report of the work plan, no later than July 15, 2024, January 15, 2025, July 15, 2025, and January 15, 2026, respectively, signed by the internal auditor, the president of its respective audit committee, or supervisory body.

The documentation provided for in this TRANSITIONAL ARTICLE THIRD that must be delivered to the Bank of Mexico must be presented, electronically signed, through the Fee Registration System, in accordance with the Rules of the Electronic Attention Module and the Fee Registration System, contained in Circular 13/2012 of the Bank of Mexico, as it has been modified by subsequent resolutions. The data of the advanced electronic signature referred to in this paragraph must be verifiable through the corresponding digital certificate issued by the Tax Administration Service.

FOURTH.- Without prejudice to what is stated in the TRANSITIONAL ARTICLES SECOND and THIRD of this Circular, in the event that any Financial Entity intends to register the modification of the name of a Fee whose act or event and characteristics do not correspond to any of the categories established by the Bank of Mexico in the catalog published on the Bank of Mexico’s website, such Financial Entity must submit to the Bank of Mexico, no later than July 15, 2024, an additional request in the Fee Registration System to include the proposed category in said catalog, in terms of paragraph 2.1.4 of the “General Provisions on Fee Registration,” contained in Circular 36/2010 of the Bank of Mexico, published in the Official Gazette of the Federation on November 24, 2010, as it has been modified by subsequent resolutions.

The deadline indicated in the second paragraph of the cited paragraph 2.1.4 within which the Bank of Mexico will determine the admissibility or inadmissibility of the request to include the proposed category in the fee categories catalog published on the Bank of Mexico’s website will be three months counted from the submission of the request, exclusively for the resolution of the requests provided for in this TRANSITIONAL ARTICLE FOURTH.

Mexico City, December 18, 2023.- BANK OF MEXICO: Director of Central Banking Provisions, María Teresa Muñoz Arámburu.- Initials.- Director of Payment Systems and Market Infrastructures Policy and Studies, Othón Martino Moreno González.- Initials.- Director of Financial System Information, Juan Fernando Avila Ambriz.- Initials.- Director of Financial Services Evaluation, Pedro Adalberto González Hernández.- Initials.

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