Regulatory Alerts2014-12-24 | Circular 21/2014Added
Circular 21/2014 — Modification of Circular 35/2010
The Bank of Mexico defers the effective date of the reforms introduced by Circular 12/2014 (GAT) to March 1, 2015, granting financial institutions additional time to comply with these provisions. This modification applies to Credit Institutions, Popular Financial Societies, Savings and Loan Cooperatives with operation levels I to IV, and Credit Unions. The change is enacted by altering the sole transitional provision of Circular 12/2014, which previously stipulated that the circular would enter into force the next banking business day following its publication in the Official Journal of the Federation.
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