Circular 21/2020 — Modifies Circular 12/2020

Tuesday, June 2, 2020 OFFICIAL GAZETTE 155

BANK OF MEXICO

CIRCULAR 21/2020 addressed to entities subject to the supervision of the Bank of Mexico, regarding modifications to Circular 12/2020, on provisional exemptions related to the COVID-19 pandemic.

A logo appears on the margin, stating: Bank of Mexico.- "2020, Year of Leona Vicario, Meritorious Mother of the Fatherland".

CIRCULAR 21/2020

TO THE ENTITIES SUBJECT TO THE SUPERVISION OF THE BANK OF MEXICO:

SUBJECT: MODIFICATIONS TO CIRCULAR 12/2020, ON PROVISIONAL EXEMPTIONS RELATED TO THE COVID-19 PANDEMIC.

The Bank of Mexico, with the purpose of continuing to promote the sound development of the financial system and facilitate the proper functioning of payment systems, as well as to provide legal certainty to the entities and financial intermediaries under its supervision, considers it convenient to extend the periods of application of the provisional exemptions issued in response to the circumstances derived from the COVID-19 pandemic, contained in Circular 12/2020, to remain in the following terms:

“The Bank of Mexico, with the purpose of continuing to promote the sound development of the financial system and facilitate the proper functioning of payment systems, as well as to provide legal certainty to the entities and financial intermediaries under its supervision, in light of the circumstances derived from the COVID-19 pandemic, has decided to consider non-working the days comprised between March 23 and the date that the Bank of Mexico will announce through the resolution it will subsequently issue, and consequently, suspend the computation of the deadlines corresponding to the proceedings and actions regarding administrative sanction procedures, including those corresponding to appeals, both of review and reconsideration, as well as those related to information requests related to the aforementioned procedures, unless a contrary specification is made in the latter, so that such deadlines begin to be computed again from the date that will be announced through the publication of the aforementioned resolution. Likewise, the Bank of Mexico has resolved to suspend ordinary inspection visits until the date that the Bank of Mexico itself will announce through the aforementioned resolution it will subsequently issue, without such suspension being applicable to the exercise of the other powers conferred upon this Central Institute by the applicable regulations in matters of supervision. The Bank of Mexico will notify entities individually with supervision procedures in progress, the manner in which it will proceed once the suspension is terminated.”

This Circular is issued based on articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 24 of the Bank of Mexico Law, 22 of the Law for Transparency and Regulation of Financial Services, 1, 4, first paragraph, 8, paragraphs fourth and eighth, 10, first paragraph, 12 Bis, first paragraph, in relation to 20 Quater, fraction IV, 14 Bis, first paragraph, in relation to 17, fraction I, 14 Bis 1, first paragraph, in relation to 25 Bis 1, fraction IV, 15 Bis 1, in relation to 29 Bis, fraction VIII, and 16, in relation to 16 Bis, fraction II, 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 Market Infrastructures, the General Legal Directorate, the General Directorate of Financial System Affairs, the General Directorate of Information Technologies, and the General Directorate of Issuance, respectively, as well as Second, fractions I, III, IX, X and XVII, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico.

TRANSITORY

SINGLE.- This Circular will enter into force on the day of its publication in the Official Gazette of the Federation.

156 OFFICIAL GAZETTE Tuesday, June 2, 2020

Mexico City, May 25, 2020.- BANK OF MEXICO: Manuel Miguel Ángel Díaz Díaz, General Director of Payment Systems and Market Infrastructures.- Signature.- Luis Urrutia Corral, General Legal Director.- Signature.- José Luis Negrín Muñoz, General Director of Financial System Affairs.- Signature.- Octavio Bergés Bastida, General Director of Information Technologies.- Signature.- Alejandro Alegre Rabiela, General Director of Issuance.- Signature.

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