Circular 3/2011 — Abrogation of Provisions

Wednesday, February 9, 2011 OFFICIAL GAZETTE (First Section) 73

CIRCULAR 3/2011, addressed to credit institutions; rural financing; brokerage houses; savings and loan societies; financial lessors; financial factoring companies and limited-object financial societies regarding the Abrogation of Provisions.

A logo is placed at the margin, which says: Bank of Mexico.

CIRCULAR 3/2011

TO CREDIT INSTITUTIONS; RURAL FINANCING; BROKERAGE HOUSES; SAVINGS AND LOAN SOCIETIES; FINANCIAL LESSORS; FINANCIAL FACTORING COMPANIES AND LIMITED-OBJECT FINANCIAL SOCIETIES:

SUBJECT: ABROGATION OF PROVISIONS.

The Bank of Mexico, with the objective of continuing to promote the sound development of the financial system, considers it convenient to abrogate the general provisions indicated in this Circular, which have fulfilled the purposes for which they were issued.

Therefore, based on Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 24 of the Bank of Mexico Law; 22 of the Law for Transparency and Ordering of Financial Services, as well as Article 4, first paragraph, 8, fourth and seventh paragraphs, 10 first paragraph, 14 Bis in relation to Article 17 fraction I, as well as 14 Bis 1 first paragraph in relation to 25 Bis 1 fraction IV and 25 Bis 2 fraction II, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Directorate and the General Directorate of Financial System Affairs, respectively, as well as the Sole Article of the Agreement on the Attachment of Administrative Units of the Bank of Mexico, fractions III and XII, it has resolved to abrogate the following provisions:

1. “Rules to which savings and loan societies must adhere in carrying out their operations”, dated August 31, 1992, as well as its modification dated December 17, 1992;
2. Circular 19/94, addressed to credit institutions, regarding the reimbursement of federal checks at the Bank of Mexico, dated December 5, 1994;
3. Circular 10-211, addressed to brokerage houses, regarding information on securities portfolios and active and passive operations, dated October 11, 1996, as well as its modifications made through Circulares 10-211 BIS and 10-211 BIS 1 issued on June 18, 1999 and September 25, 2001, respectively;
4. “Rules to which the foreign exchange risk positions of financial lessors and financial factoring companies that are part of financial groups including insurance institutions and in which multiple banking institutions and brokerage houses do not participate” shall be subject, dated November 1, 1996, as well as its modifications dated March 26, 2001, March 26, 2002 and March 27, 2003;
5. Circular 11/97, addressed to multiple banking institutions, regarding the incorporation of Circular 2019/95 onto the Internet, dated February 21, 1997;
6. Circular 10-236, addressed to brokerage houses, regarding the development bonds of the Federal Government, dated January 27, 2000;
7. Circular-Telefax 21/2000, addressed to credit institutions, regarding the interest rate scheme for national currency financing applicable to the agricultural and fishing sector, dated August 29, 2000;
8. Circular-Telefax 4/2004, addressed to credit institutions, regarding electronic fund transfers, dated February 19, 2004;
9. Circular 1/2004, addressed to limited-object financial societies authorized to grant mortgage credits, regarding the request for information on guaranteed housing credits, dated December 10, 2004, and
10. Circular-Telefax 1/2006, addressed to development banking institutions and Rural Financing, to inform about the delivery and dissemination of provisions applicable to various operations carried out by development banking institutions and Rural Financing, dated January 19, 2006.

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

Mexico, D.F., February 4, 2011.- BANK OF MEXICO: The General Legal Director, Héctor Reynaldo Tinoco Jaramillo.- Signature.- The General Director of Financial System Affairs, José Gerardo Quijano León.- Signature.

Wednesday, February 9, 2011 OFFICIAL GAZETTE (First Section) 74 For any inquiries regarding the content of this Circular, please contact the General Directorate of Authorizations, Inquiries and Legal Control, located at Avenida 5 de Mayo number 2, Colonia Centro, Mexico, Federal District, C.P. 06059, or at the phones 5237.2308, 5237.2317 or 52372000 Ext. 3200.