Circular 3/2012 — Operations of Credit Institutions, Multiple-Object Financial Companies with Equity Links to Credit Institutions, and the Rural Development Financial Institution

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

THIRD SECTION
BANCO DE MEXICO
CIRCULAR 3/2012, addressed to Credit Institutions and the Rural Financial Institution, regarding the Provisions applicable to the operations of Credit Institutions and the Rural Financial Institution.

A logo appears at the margin, stating: Banco de México.

CIRCULAR 3/2012
TO CREDIT INSTITUTIONS
AND TO THE RURAL FINANCIAL INSTITUTION:
SUBJECT: PROVISIONS APPLICABLE TO THE OPERATIONS OF CREDIT INSTITUTIONS AND THE RURAL FINANCIAL INSTITUTION

The Bank of Mexico, with the objective of facilitating the consultation of the regulation applicable to credit institutions and the Rural Financial Institution, has resolved to compile, unify, and systematize its content, using a structure similar to that employed in various laws through the division of topics grouped into titles, chapters, sections, and articles. The foregoing, with the purpose of continuing to promote the sound development of the financial system, protect the interests of the public, and foster the proper functioning of payment systems.

In this sense, the regulation directed at multiple banking institutions contained in Circular 2019/95 and at development banking institutions and the Rural Financial Institution contained in Circular 1/2006 is integrated into a single legal instrument; as well as the regulation directed at credit institutions established in Circulares 23/2008, 25/2008, and 23/2009, which regulate the determination of the amount from which checks must be nominative, the transfer of salaries, pensions, and other labor-related benefits, and the direct deposit into bank deposit accounts of money, respectively.

It is important to highlight that to continue with the policy of regulating in a single provision common topics applicable to different types of intermediaries, this Central Institute has decided that the provisions regarding auctions for the placement of Government Securities and auctions of Monetary Regulation Bonds and Government Securities, currently contained in the aforementioned Circulares 2019/95 and 1/2006, be compiled into independent provisions that will be directed jointly to the different types of financial intermediaries to whom they are applicable.

Likewise, and in congruence with said policy, other provisions currently in force directed at credit institutions and other financial intermediaries jointly are not incorporated in this Circular.

Additionally, to facilitate the consultation of this Circular, titles are included for each of the articles with the intention that they serve as a guide for the prompt identification of their content, notwithstanding that such titles do not form part of said articles.

For the foregoing, this Central Institute, based on Article 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; Articles 7 fractions I, II, and X, 14, 16, 24, 26, 28, 31, 32, 33, 35, and 36 of the Bank of Mexico Law; Article 179 of the General Law of Negotiable Instruments and Credit Operations; Article 9 of the Organic Law of Nacional Financiera; Article 6 of the Organic Law of Sociedad Hipotecaria Federal; Article 9 of the Organic Law of Banco del Ahorro Nacional y Servicios Financieros; Article 9 of the Organic Law of Banco Nacional de Comercio Exterior; Article 10 of the Organic Law of Banco Nacional de Obras y Servicios Públicos; Article 8 of the Organic Law of Banco Nacional del Ejército, Fuerza Aérea y Armada; Articles 18 and 19 of the Organic Law of the Rural Financial Institution; Articles 4, 4 Bis, 16, 18, 19, 19 bis, 21, and 22 of the Law for Transparency and Ordering of Financial Services; Articles 46 Bis-5, 48, 48 Bis 2, 52, 53, 54, 57, and 64 of the Law of Credit Institutions; Article 4, first paragraph, Article 8, fourth and seventh paragraphs, Article 10, first paragraph, Article 12, first paragraph in relation to Article 19 fraction VII, Article 14 Bis in relation to Article 17 fraction I, Article 14 Bis 1, first paragraph in relation to Article 25 Bis 1 fraction IV, and Article 25 Bis 2 fraction II, as well as Article 20 fraction XI of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Central Bank Operations, the General Legal Directorate, the General Directorate of Financial System Affairs, and the Payment Systems Directorate, respectively; as well as in Article 2, fractions III, VII, IX, and XI of the Agreement on the Affiliation of Administrative Units of the Bank of Mexico, has resolved to issue the following:

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012

PROVISIONS APPLICABLE TO THE OPERATIONS OF CREDIT INSTITUTIONS AND THE RURAL FINANCIAL INSTITUTION

INDEX

TITLE FIRST
PRELIMINARY PROVISIONS

SINGLE CHAPTER
GENERAL PROVISIONS

Article 1.- Subjects
Article 2.- Definitions
Article 3.- Characteristics of operations
Article 4.- Authorizations
Article 5.- Time zone

TITLE SECOND
OPERATIONS WITH THE PUBLIC

CHAPTER I
PASSIVE OPERATIONS

Section I Passive operations in national currency

Subsection A General provisions for Deposits
Article 6.- Transparency
Article 7.- Types of Deposits
Article 8.- Account holders
Article 9.- Crediting of funds
Article 10.- Interest rates and interest
Article 11.- Modifications to interest rates
Article 12.- Documentation
Article 13.- Other characteristics

Subsection B Demand deposits
Article 14.- Operational levels
Article 15.- Withdrawal of funds
Article 16.- Means of disposition and payment
Article 17.- Electronic fund transfers
Article 18.- Characteristics of debit cards
Article 19.- Use of debit cards
Article 20.- Additional characteristics of level 1 accounts and associated debit cards
Article 21.- Characteristics of checks
Article 22.- Amount of nominative checks

Subsection C Other provisions relating to Deposits and loans
Article 23.- Withdrawal of funds
Article 24.- Special personal savings accounts
Article 25.- Acceptance of loans and credits

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Subsection D Bank bonds and exchange-traded certificates
Article 26.- Issuance

Subsection E Subordinated obligations
Article 27.- Issuance
Article 28.- Issuance deed and information prospectus
Article 29.- Prohibition of acquisition
Article 30.- Limit on acquisition
Article 31.- Payment of interest and principal

Subsection F Bank acceptances
Article 32.- Characteristics

Subsection G Structured bank securities
Article 33.- Issuance
Article 34.- Types of structured bank securities
Article 35.- General provisions

Subsection H General provisions applicable to passive operations
Article 36.- Characteristics that may be freely determined
Article 37.- Information on interest rates
Article 38.- Reference interest rates
Article 39.- Calculation of yields and payment of interest
Article 40.- Early payment of letters of credit
Article 41.- Custody, administration, and registration of documents
Article 42.- Receipt of documents subject to good collection

Section II Passive operations in UDIS
Article 43.- Passive operations that may be denominated in UDIS
Article 44.- Characteristics that may be freely determined

Section III Passive operations in Foreign Currency

Subsection A General provisions for Deposits
Article 45.- Types of Deposits
Article 46.- Account holders
Article 47.- Crediting of funds
Article 48.- Withdrawal of funds
Article 49.- Additional characteristics
Article 50.- Interest rates and interest
Article 51.- Documentation
Article 52.- Minimum amounts and commissions

Subsection B Bank bonds and exchange-traded certificates
Article 53.- Issuance

Subsection C Subordinated obligations
Article 54.- Issuance

Subsection D Bank acceptances
Article 55.- Characteristics

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Subsection E Structured bank securities
Article 56.- Issuance
Article 57.- Types of structured bank securities
Article 58.- General provisions

Subsection F Bank cards
Article 59.- Issuance and use
Article 60.- Characteristics

Subsection G Other characteristics
Article 61.- Characteristics that may be freely determined

CHAPTER II
ACTIVE OPERATIONS
Article 62.- Applicable provisions
Article 63.- Deadline for making credit payments

CHAPTER III
SERVICES

Section I Direct deposit into bank deposit accounts
Article 64.- Contracting requests
Article 65.- Cancellation requests
Article 66.- Effects of cancellation
Article 67.- Objection to charges
Article 68.- Validity of objection to charges
Article 69.- Invalidity of objection to charges
Article 70.- Disclosure of formats to present requests
Article 71.- Receipt of requests
Article 72.- Acknowledgment of receipt of requests
Article 73.- Commissions
Article 74.- Dispute resolution

Section II Transfer of salaries, pensions, and other labor-related benefits
Article 75.- Transfer requests
Article 76.- Receipt of requests
Article 77.- Cancellation requests for transfers
Article 78.- Acknowledgment of receipt of requests
Article 79.- Disclosure of legends
Article 80.- Sending of funds
Article 81.- Direct sending of funds to the Receiving Account

Section III Other services
Article 82.- Trusts, mandates, and commissions
Article 83.- Appraisals
Article 84.- Services through automated teller machine networks
Article 85.- Requests for authorization to provide services through automated teller machine networks operated by third parties
Article 86.- Administration and control of operations relating to non-bank cards

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

CHAPTER IV
OPERATIONS WITH SECURITIES AND GOVERNMENT SECURITIES
Article 87.- Applicable provisions
Article 88.- Multiple Bank Security
Article 89.- Purchase and sale operations
Article 90.- Characteristics of purchase and sale operations
Article 91.- Deposit and information to the securities depository institution
Article 92.- Documentation of operations with the public
Article 93.- Documentation of operations with intermediaries
Article 94.- Records of purchase and sale operations
Article 95.- Transfers in securities depository institutions
Article 96.- Settlement date of operations
Article 97.- Custody and administration service
Article 98.- Transfer
Article 99.- Interest calculations and payment
Article 100.- Prohibitions

CHAPTER V
OPERATIONS WITH FOREIGN CURRENCY AND PRECIOUS METALS, AS WELL AS DERIVATIVE OPERATIONS
Article 101.- Sale and purchase and swap
Article 102.- Information to the public
Article 103.- Documentation, receipts, and registration
Article 104.- Derivative operations

CHAPTER VI
BRANCHES ABROAD
Article 105.- Applicable provisions
Article 106.- Documentation
Article 107.- Prohibition of advertising

CHAPTER VII
INFORMATION
Article 108.- Information to the Bank of Mexico
Article 109.- Accounting and sectorization information
Article 110.- Delivery of accounting and sectorization information
Article 111.- Reports on the foreign exchange market, metals, and Government Securities
Article 112.- Reworking costs

TITLE THIRD
OPERATIONS WITH THE BANK OF MEXICO

CHAPTER I
DEPOSITS AT THE BANK OF MEXICO

Section I In national currency (Single Account)
Article 113.- Applicable regime
Article 114.- Contract

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Article 115.- Guaranteed overdrafts
Article 116.- Unsecured overdrafts
Article 117.- Actions for incurring unsecured overdrafts repeatedly
Article 118.- Operations with CLS Bank International
Article 119.- Account statements

Section II In Dollars (Dollar Account)
Article 120.- Applicable regime
Article 121.- Interest

CHAPTER II
OPERATIONS IN ACCOUNTS AT THE BANK OF MEXICO

Section I Operations in national currency
Article 122.- Fund transfers
Article 123.- Interbank transaction hours
Article 124.- Bank of Mexico operations with Institutions
Article 125.- Request

Section II Operations in Dollars
Article 126.- Receipt of Dollars
Article 127.- Non-compliance with receipts
Article 128.- Transfers
Article 129.- Transfers
Article 130.- Commissions

CHAPTER III
REPO OPERATIONS TO PROVIDE LIQUIDITY TO PAYMENT SYSTEMS

Section I Repos between the Bank of Mexico and Institutions
Article 131.- Characteristics of repos
Article 132.- Contract for the execution of repos
Article 133.- Request to execute repos
Article 134.- Maximum amount of repos
Article 135.- Settlement of repos
Article 136.- Abandonment and renewal of repos
Article 137.- Determination of charges for automatic renewals
Article 138.- Execution of charges and credits

Section II Repos between Institutions and brokerage houses with resources from repos between the Bank of Mexico and Institutions
Article 139.- Additional limits on Institutions for executing repos with brokerage houses
Article 140.- Characteristics of repos
Article 141.- Limits applicable to brokerage houses
Article 142.- Request to execute repos on behalf of Institutions
Article 143.- Settlement of repos
Article 144.- Abandonment of repos

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Section III Procedure to be followed in case of insufficient funds of Institutions to settle the amount of government securities
Article 145.- Settlement of the amount of Government Securities

CHAPTER IV
DETERMINATION OF THE NATIONAL CURRENCY INTERBANK EQUILIBRIUM INTEREST RATE (TIIE)

Section I Procedure for the determination of the TIIE
Article 146.- Request for participation
Article 147.- Information for the presentation of quotes
Article 148.- Procedure for the presentation of quotes
Article 149.- Means for the presentation of quotes
Article 150.- Determination and dissemination of the TIIE

Section II Financing or deposits related to the determination of the TIIE
Article 151.- Determination of financing or deposits
Article 152.- Formalization of financing
Article 153.- Hours and priority
Article 154.- Characteristics of credit operations
Article 155.- Characteristics of repo operations
Article 156.- Formalization of repos
Article 157.- Early maturity of credit or repo operations
Article 158.- Procedure in case of non-compliance in the formalization of operations
Article 159.- Deposits at the Bank of Mexico

Section III General provisions
Article 160.- Information on quotes
Article 161.- Return of profits
Article 162.- Contract to execute credit or repo operations
Article 163.- Interest rates

CHAPTER V
DETERMINATION OF THE EXCHANGE RATE TO SETTLE OBLIGATIONS DENOMINATED IN FOREIGN CURRENCY PAYABLE IN THE MEXICAN REPUBLIC

Section I Procedure for the determination of the exchange rate
Article 164.- Request for participation
Article 165.- Quotes obtained through electronic means
Article 166.- Calculation of the exchange rate obtained from electronic means
Article 167.- Quotes requested from Institutions
Article 168.- Confirmation of quotes
Article 169.- Effects of quotes
Article 170.- Calculation of the exchange rate obtained from quotes presented by Institutions

Section II General provisions
Article 171.- Publication of the exchange rate
Article 172.- Exchange rate to settle obligations denominated in Dollars
Article 173.- Information to the public

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CHAPTER VI
DEPOSIT AUCTIONS AND LIQUIDITY AUCTIONS

Section I General provisions
Article 174.- Types of auctions
Article 175.- Calls for bids
Article 176.- Instrumentation of Liquidity Auctions

Section II Bids
Article 177.- General characteristics
Article 178.- Additional characteristics of Liquidity Auctions
Article 179.- Additional characteristics of Deposit Auctions
Article 180.- Presentation of bids on one's own account
Article 181.- Effects

Section III Allocation
Article 182.- Procedure
Article 183.- Tied bids
Article 184.- Authority of the Bank of Mexico to declare an auction void or to reject bids

Section IV Formalization
Article 185.- Procedure to execute operations
Article 186.- Hours
Article 187.- Formalization order
Article 188.- Characteristics of credits
Article 189.- Characteristics of repos
Article 190.- Additional characteristics of repos
Article 191.- Early maturity of credit or repo operations
Article 192.- Formalization of allocations in Deposit Auctions

Section V Final provisions
Article 193.- Information on results
Article 194.- Suspension or limit of Liquidity Auctions and Deposit Auctions
Article 195.- Force majeure or fortuitous event

TITLE FOURTH
OPERATIONAL TOPICS

SINGLE CHAPTER
CLEARING HOUSES

Section I National currency clearing
Article 196.- Document clearing
Article 197.- Prohibition of entry barriers
Article 198.- Authorization to operate as a Clearing House
Article 199.- Characteristics of the multilateral contract
Article 200.- Administrative body
Article 201.- Clearing House manual

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Article 202.- Obligation to participate in Clearing Houses
Article 203.- Reports through SICAM
Article 204.- Obligations of participating Institutions in a Clearing House
Article 205.- Mandate in favor of the Bank of Mexico
Article 206.- Incorporation and withdrawal of Institutions in the Clearing House
Article 207.- Conservation of documentation
Article 208.- Credit lines between Institutions
Article 209.- Limits on credit lines between Institutions
Article 210.- Exercise of credit lines
Article 211.- Clearing results
Article 212.- Priority in the settlement of Payment Obligations in SICAM
Article 213.- Coverage of negative balances
Article 214.- Procedure to eliminate Payment Obligations from the settlement process
Article 215.- Exclusion of Documents from the Clearing House
Article 216.- Clearing settlement
Article 217.- Revocation of authorization
Article 218.- Bilateral clearing

Section II Dollar clearing
Article 219.- Clearing

TITLE FIFTH
FOREIGN EXCHANGE RISK POSITION AND INVESTMENT REGIME

CHAPTER I
FOREIGN EXCHANGE RISK POSITION
Article 220.- Limits on Foreign Exchange Risk Position
Article 221.- Computable assets and liabilities
Article 222.- Calculation
Article 223.- Computation of the calculation
Article 224.- Conversion of Foreign Currency to Dollars
Article 225.- Authorizable excesses

CHAPTER II
INVESTMENT REGIMES

Section I Admission regimes for liabilities and investment regimes for passive operations in Foreign Currency
Article 226.- Liability admission regime
Article 227.- Authorizable excesses
Article 228.- Investment regime
Article 229.- Excesses in the liability admission limit or lack of Liquid Assets
Article 230.- Exceptions to liability admission and investment regimes
Article 231.- Computation of liabilities for the investment regime
Article 232.- Operations included for the calculation of liability admission and investment regimes

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Article 233.- Computation
Article 234.- Other operations that must be included in the computation
Article 235.- Additional provisions for the calculation of liability admission and investment regimes
Article 236.- Basic capital
Article 237.- Qualification for Liquidity Requirement

Section II Investment regime for passive operations in national currency
Article 238.- Investment regime

ANNEXES

Annex 1 Format to request Direct Deposit
Annex 2 Format to cancel Direct Deposit
Annex 3 Format to object to charges for Direct Deposit
Annex 4 Format to request the transfer of funds from accounts where labor benefits are received
Annex 5 Model of request for segregation of Dollars in deposit accounts for guarantees
Annex 6 Model of mandate in favor of the Bank of Mexico to settle operations with CLS Bank International
Annex 7 Valuation of securities or assets for guarantee purposes
Annex 8 Model of mandate in favor of the Bank of Mexico to execute charges and credits in accounts held by any securities depository institution for the purpose of executing repo operations to provide liquidity to payment systems
Annex 9 Determination of the base quantity to be used to calculate maximum credit limits relating to payment systems
Annex 10 Model of mandate in favor of the Bank of Mexico to execute charges and credits in accounts held by any securities depository institution
Annex 11 Procedure for the calculation of the TIIE
Annex 12 Format to participate in the determination of the TIIE
Annex 13 Request to participate in the determination of the exchange rate to settle obligations denominated in Dollars payable in the Mexican Republic
Annex 14 Calculation algorithm
Annex 15 Model of request to participate in Liquidity Auctions
Annex 16 Causes for check return
Annex 17 Model of mandate in favor of the Bank of Mexico to execute national currency clearing
Annex 18 Foreign Currency operations that shall not be included in the computation of the Foreign Exchange Risk Position
Annex 19 Determination of factors to be applied according to the Days to Maturity of liabilities and the second-degree polynomial
Annex 20 Calendar of periods for purposes of calculation relating to lack of Liquid Assets
Annex 21 Classification of Foreign Currency checking accounts
Annex 22 Foreign Currency operations that shall not be included in the computation of liability admission and investment regimes for Foreign Currency operations
Annex 23 Classification of liabilities

TRANSITORY PROVISIONS

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TITLE ONE
PRELIMINARY PROVISIONS

UNIQUE CHAPTER
GENERAL PROVISIONS

Subjects
Article 1.- These Provisions are applicable to Multiple Banking Institutions and to Development Banking Institutions, unless otherwise specified.

Definitions
Article 2.- For brevity, in singular or plural, in these Provisions the following shall be understood as:

Money Market Assets:
a) those assets in Foreign Currency used by Multiple Banking Institutions for the calculation of the regimes for admission of liabilities and of investment for Foreign Currency Operations, which are indicated below:
a) Securities with a secondary market, with an original maturity to maturity greater than one year, other than those included in subsection c) of the definition of Liquid Assets; provided that they meet the following requirements:
i) The issuance has an outstanding amount greater than or equal to one hundred million Dollars, and ii) The holding of the Multiple Banking Institution is less than or equal to twenty percent of the outstanding amount.
These requirements shall not apply to the issuance of securities with an original maturity to maturity greater than one year by foreign financial entities and Institutions; b) Commercial paper and other securities with a secondary market, with a Liquidity Requirement Rating and with an original maturity to maturity of up to one year; c) Deposits with a maturity of eight Days up to one year, as well as credits and securities for which there is no secondary market, with a maturity of up to one year, issued by foreign financial entities that have a Liquidity Requirement Rating; d) Deposits and securities issued by Institutions for which there is no secondary market, as well as credits issued by Institutions and by Mexican brokerage houses, all of them with a maturity of up to one year; e) Credit lines obtained from foreign financial entities that have a Liquidity Requirement Rating, to guarantee, under any legal figure, the payment of time deposit instruments issued by the Multiple Banking Institution, for the part of said credit lines with respect to which the issuance of the respective instruments is pending. All of the above, provided that:
i) The aforementioned lines do not contain clauses that invalidate, hinder or limit the placement of said instruments or their exercise; ii) If said lines are exercised, the Multiple Banking Institution has a minimum term of sixty-one Days, counted from the corresponding disbursement, to make its payment, and iii) The resources from said placement are not committed for a specific use; f) Assets indicated in subsections c) to f) of the definition of Liquid Assets that are given, in forward operations with maturity of up to one year, as collateral, loan, repurchase agreement or through any other legal figure that limits their free availability; g) Deposits of two to seven Days in foreign financial entities that have a Liquidity Requirement Rating, which do not count as Liquid Assets for exceeding the limit referred to in the first paragraph of fraction III of article 235 of these Provisions, and h) The part of the investments in companies or investment funds that the Bank of Mexico determines at the proposal of the Multiple Banking Institutions, which do not count as Liquid Assets for exceeding the limits referred to in fraction IV of article 235 of these Provisions.

Liquid Assets: a) those assets in Foreign Currency that are not granted as collateral, loan, repurchase agreement or that no similar operation has been entered into with them that limits their free availability, used by Multiple Banking Institutions for the calculation of the regimes for admission of liabilities and of investment for Foreign Currency Operations, which are indicated below:
a) Cash; b) Deposits at the Bank of Mexico; c) “Treasury Bills”, “Treasury Notes” and “Treasury Bonds”, issued by the Government of the United States of America, as well as debt titles issued by agencies of said government, that have an unconditional guarantee of said government; d) Demand deposits and deposits of one to seven Days in foreign financial entities that have a Liquidity Requirement Rating; e) Deposits constituted in foreign financial entities that have a Liquidity Requirement Rating that contain clauses that allow their total or partial withdrawal, on demand or at one Day, for the part that can be available the day following the day in question; f) Investments in companies or investment funds that the Bank of Mexico authorizes at the proposal of the Multiple Banking Institutions through the Mexican Bank Association, A.C., that meet the following requirements:
i) Be administered by financial entities that are controlled directly or indirectly by entities corresponding to the following countries: Germany, Belgium, Canada, United States of America, France, Italy, Japan, Netherlands, United Kingdom, Sweden and Switzerland; ii) Be known as “money market or liquidity funds”; iii) Have an international rating of at least BBBm granted by the Standard & Poor’s agency or its equivalent from another internationally recognized prestigious agency. It shall be considered that the rating is not held when the financial entity, company or issuance in question is rated by two agencies and any of the ratings is lower than indicated, and iv) In terms of the respective prospectus and/or contract, allow the withdrawal of one hundred percent of the investment in a maximum term of seven Days. g) The unused part of the credit lines granted to the Multiple Banking Institution by a foreign financial entity that has a Liquidity Requirement Rating, that:
i) Does not contain clauses that invalidate, hinder or limit its exercise; ii) Cannot be revoked in advance; iii) Can be exercised during the two following Banking Business Days from the date corresponding to the calculation and at any time they are exercised, their payment term is not less than sixty-one Days, and iv) The resources from their exercise are not committed for a specific use.

Customer Bank: to the Institution that holds the Account with respect to which Direct Debits are carried out.
Supplier Bank: to the Institution that at the request of the Supplier instructs the Customer Bank to charge the Account, arising from Direct Debits.
BONDES: to the Development Bonds of the Federal Government of the United Mexican States, denominated in national currency and in UDIS, both at fixed interest rate and at variable interest rate.
BONOS UMS: to the debt titles denominated in Currencies issued by the Federal Government of the United Mexican States in the international markets.
BREMS: to the Monetary Regulation Bonds issued by the Bank of Mexico.
Liquidity Requirement Rating:
to the rating grade, for short-term debt, equal to or greater than A-2 or P-2, as applicable, granted for international purposes to the financial entity, company or issuance in question, by the Standard and Poor's or Moody's agency, as well as to the rating grade equivalent to the referred one granted by other rating agencies of recognized international prestige, which is used for the calculation of the regimes for admission of liabilities and of investment for Foreign Currency Operations. It shall be considered that the rating is not held when the financial entity, company or issuance in question is rated by two agencies and any of the ratings is lower than indicated. Clearing House:
to the central entity or centralized processing mechanism, through which payment instructions or other financial obligations, related to Documents, are exchanged.
Payment Capacity: to the sum of the balance that the Institution in question has in its deposits at the Bank of Mexico plus the credit that it has available in this.
CBIC-FARAC: to the stock certificates for highway indemnification with the guarantee of the Federal Government of the United Mexican States, issued by the National Bank of Public Works and Services, S.N.C., Development Banking Institution, in its capacity as trustee in the trust agreement for support for the rescue of concessioned highways. CETES: to the Certificates of the Treasury of the Federation issued by the Federal Government of the United Mexican States. SPECIAL CETES: to the CETES issued under credit restructuring programs in UDIS. CLABE: to the eighteen-digit Standardized Banking Key used to identify a bank account. Compensation: to the determination of the net debtor and creditor balances, resulting from the presentation of information in the Clearing House in question, on payment rights and obligations of the participating Institutions. Account: to the records of charges or credits made under a demand or savings deposit contract. Dollar Account: to the dollar deposit account that Institutions must open and maintain at the Bank of Mexico. Ordering Account: to the bank demand deposit account that an Institution holds in which, among other resources, a client receives Labor Benefits.

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Receiving Account: to the bank demand deposit account that an Institution holds for the client to which will be transferred, among other resources, those that he receives by concept of Labor Benefits from the Ordering Account.
Single Account: to the national currency deposit account that Institutions must open and maintain at the Bank of Mexico.
Dollar Account: to the dollar deposit account that Institutions must open and maintain at the Bank of Mexico.
Segregated Coupons: to the segregated coupons of the BONDES referred to in the “Rules for the Segregation and Reconstitution of Titles” of the Secretariat of Finance and Public Credit.
Deposits: to the bank money deposits that Institutions receive.
Days: to the days of the calendar year.
Banking Business Days:
to the days on which Institutions are not obliged to close their doors or suspend operations, in terms of the general provisions, for such effect, issued by the National Banking and Securities Commission.
International Banking Business Days:
to the days that are banking business days both in the United Mexican States, as well as in the plazas where the banking operation in question is settled.
Currencies: to the Dollars, as well as to any other freely transferable and convertible currency to the cited currency.
Documents: to the checks in national currency, to the Electronic Funds Transfer Service, to the Receipt Direct Debit Service and to the Bank Cash Exchange and Compensation Service.
Dollars: to the legal tender currency in the United States of America.
Direct Debit: to the express acceptance by the holder of the Account to make recurring charges in his Account, relating to the payment of goods, services or credits.
Institutions: to the Multiple Banking Institutions and to the Development Banking Institutions, jointly.
Development Banking Institutions:
to the National Bank of Foreign Trade, S.N.C., Development Banking Institution; to the National Bank of the Army, Air Force and Navy, S.N.C., Development Banking Institution; to the National Savings Bank and Financial Services, S.N.C., Development Banking Institution; to Nacional Financiera, S.N.C., Development Banking Institution; to the Federal Mortgage Society, S.N.C., Development Banking Institution, and to the National Bank of Public Works and Services, S.N.C., Development Banking Institution. For the purposes of these Provisions, it shall be understood that the Rural Financial Company is part of this definition. Multiple Banking Institutions:
to the legal entities authorized to act with such character in terms of what is provided in the Credit Institutions Law.
Ordering Institution: to the Institution that holds the Ordering Account.
Receiving Institution: to the Institution that holds the Receiving Account.
RSP Manual: to the Operation Manual of the RSP Module, which can be consulted through the Bank of Mexico website on the financial network.
Precious Metals: to gold and silver.
RSP Module: to the Repurchase Module to Provide Liquidity to the Payment System of the SIAC-BANXICO.
Foreign Currency: to the Dollars, as well as to any other freely transferable and convertible currency to the cited currency.

OFFICIAL GAZETTE Friday, March 2, 2012

Foreign Currency to be Received:
to that which Multiple Banking Institutions have the right to receive by reason of the celebration of:
a) Spot foreign exchange operations carried out with the following Mexican financial entities: Institutions; brokerage houses; investment companies; specialized investment companies for retirement funds; exchange houses, and insurance companies, that have a short-term rating equal to or greater than mxA-2 in the national scale (CaVal) of the Standard and Poor's Agency or the rating grade equivalent to the referred one granted by other rating agencies of recognized international prestige, and with foreign financial entities and other persons, that have a Liquidity Requirement Rating, and b) Derivative operations carried out in recognized markets, and derivative operations carried out with the following Mexican financial entities: Institutions; brokerage houses; investment companies; specialized investment companies for retirement funds, and insurance companies, that have a short-term rating equal to or greater than mxA-2 in the national scale (CaVal) of the Standard and Poor's Agency or the rating grade equivalent to the referred one granted by other rating agencies of recognized international prestige, and with foreign financial entities and other persons, that have a Liquidity Requirement Rating. All the aforementioned operations must have a maturity of up to one year. Payment Obligations: to the total amount of the set of Documents and operations of the Electronic Funds Transfer Service, the Receipt Direct Debit Service and the Bank Cash Exchange and Compensation Service, presented in the Clearing Houses under the responsibility of a particular Institution. Foreign Currency Operations:
to any operation denominated in or referred to Foreign Currency.
Employer: to the person who contracts the Payroll Service with an Ordering Institution and sends the payment instructions for Labor Benefits to Ordering Accounts or Receiving Accounts.
PIC-FARAC: to the promissory notes for highway indemnification with the guarantee of the Federal Government of the United Mexican States, issued by the National Bank of Public Works and Services, S.N.C., Development Banking Institution, in its capacity as trustee in the trust agreement for support for the rescue of concessioned highways. Computation Term: to the maturity term of the Foreign Currency Operations. Short Position: to the sum of assets of the Institutions subject to foreign exchange risk that decrease their value in national currency and of the liabilities that increase it, in the event of a depreciation of the exchange rate of the Mexican peso against any currency other than the legal tender currency in the United Mexican States. Long Position: to the sum of assets of the Institutions subject to foreign exchange risk that increase their value in national currency and of the liabilities that decrease it, in the event of a depreciation of the exchange rate of the Mexican peso against any currency other than the legal tender currency in the United Mexican States. Foreign Exchange Risk Position:
to the difference between the Long Position and the Short Position.
Labor Benefit: to the salaries, pensions or any other benefit that the Employer pays to the client.
Supplier: to the person who provides the good or service or grants the credit, authorized by the holder of the Account to instruct charges in the Account.

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Receipt of Dollars: to the transaction by which the Bank of Mexico receives Dollars in the foreign correspondents for credit to the Dollar Account of an Institution.
SAGAPL: to the Guarantee and Repurchase Administration System of the SIAC-BANXICO.
Receipt Direct Debit Service:
to the service operated by a Clearing House to carry out previously authorized charge operations.
Bank Cash Exchange and Compensation Service:
to the service operated by a Clearing House to settle the exchange of cash between Institutions.
Payroll Service: to the service that Institutions provide to Employers through which resources related to the Labor Benefits of their employees are deposited, through the electronic dispersion of funds.
Electronic Funds Transfer Service:
to the service operated by a Clearing House to make payments through electronic funds transfers between different Institutions.
Deposit Auctions: to those that the Bank of Mexico carries out to receive time deposits.
Liquidity Auctions: to those that the Bank of Mexico carries out to provide liquidity to the Institutions, in which the respective assignments may be formalized through guaranteed credit or repurchase agreement.
SIAC-BANXICO: to the Bank of Mexico Account Holder Attention System.
SICAM: to the subsystem of the SIAC-BANXICO through which the net balances resulting from the Compensation of both Documents and the operations carried out through the Electronic Funds Transfer Service, the Receipt Direct Debit Service and the Bank Cash Exchange and Compensation Service are determined, and the credits required to settle the referred balances of the Compensation of the Documents or the mentioned operations are calculated. SPEI: to the Interbank Electronic Payments System. Foreign Branches:
to the branches or agencies established abroad by the Institutions with the authorization of the National Banking and Securities Commission.
TIIE: to the Interbank Equilibrium Interest Rate in national currency published by the Bank of Mexico in accordance with what is provided in Chapter IV of Title Three of these Provisions.
Bank Titles: to the debt securities with a secondary market registered in the National Securities Registry referred to in the Securities Market Law, issued, accepted, guaranteed or guaranteed by Institutions.
UDIS: to the accounting units, whose value in national currency is published by the Bank of Mexico in the Official Gazette of the Federation, in accordance with articles Third of the “Decree by which the obligations that may be denominated in investment units are established and reform and add various provisions of the Federal Tax Code and of the Income Tax Law” and 20 Ter of the Federal Tax Code. UDIBONOS to the BONDES denominated in UDIS. Securities: to the Bank Titles and other commercial debt documents registered in the National Securities Registry, other than Government Securities and Monetary Regulation Bonds issued by the Bank of Mexico.

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IPAB Values: to the credit titles issued by the Institute for the Protection of Bank Savings for which the Bank of Mexico acts as financial agent for their issuance and placement.

Governmental Values:
to BONDES, BONOS UMS, CETES, CBIC-FARAC, Segregated Coupons, UDIBONOS and PIC-FARAC. For the purposes of these Provisions, it shall be understood that IPAB Values are part of this definition.

Characteristics of Operations
Article 3.- Institutions may only enter into passive operations included in these Provisions and other regulations of the Bank of Mexico, and are prohibited from carrying them out with characteristics different from those established by the Central Bank itself.

In the event that an Institution intends to carry out passive operations that are not regulated by the Bank of Mexico or with characteristics different from those indicated in these Provisions, it must request prior authorization, specifying the characteristics of the operations in question.

Institutions may only carry out those operations other than passive ones that are authorized by the Credit Institutions Law, other laws, these Provisions, and other applicable regulations.

When the Bank of Mexico does not establish specific characteristics for the operations referred to in this paragraph, Institutions may determine them freely.

Authorizations
Article 4.- Authorization requests that Institutions submit to the Bank of Mexico in accordance with these Provisions must be presented to the Management of Authorizations, Queries and Legal Control.

Time Zone
Article 5.- The time periods mentioned in these Provisions refer to the time zone of Mexico City, Federal District, unless otherwise specified.

SECOND TITLE
OPERATIONS WITH THE PUBLIC
CHAPTER I
PASSIVE OPERATIONS
Section I
Passive operations in national currency
Subsection A
General Provisions for Deposits
Transparency
Article 6.- In all operations that Institutions carry out with their clients, they must inform them of the rights and obligations of both parties. Additionally, in the instruments documenting the aforementioned operations, Institutions must stipulate the characteristics of the operation, as well as, among others, the following aspects:

I. Legal nature;
II. Term and maturity date;
III. Annual interest rate, if applicable;
IV. Method of calculating interest, if applicable;
V. Date of payment of principal and, if applicable, interest, as well as the manner in which they may be disposed of, and
VI. Applicable commissions.

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Types of Deposits
Article 7.- Institutions may receive the following Deposits:

I. On demand;
II. Withdrawable on pre-established days;
III. Savings;
IV. Time deposits;
V. With prior notice, and
VI. In special personal savings accounts.

Account Holders
Article 8.- Institutions may open Deposit accounts denominated in national currency to individuals and legal entities. Special savings accounts and accounts for levels 1 and 2 of On-demand Deposits may only be opened to individuals.

Notwithstanding the foregoing, Development Banking Institutions may only open accounts to individuals when their organic laws so permit.

Crediting of Funds
Article 9.- Institutions must receive funds for account crediting through:

I. Cash;
II. Electronic fund transfers, and
III. Checks.

Additionally, Institutions may receive funds for account crediting by other means they freely determine.

Interest Rates and Interest
Article 10.- Institutions must inform the applicable interest rates on Deposits in terms of simple annual rates based on three hundred sixty Days, without these including taxes that, if applicable, must be paid.

Alternative interest rates may not be agreed upon in the Deposits received by Institutions.

Institutions may divide the term of a single Deposit into two or more periods provided that the applicable interest rate for each of the periods is established at the time of contracting.

Regarding fixed-term Deposits with automatic renewals, the interest rate applicable in each renewal must not be lower than that informed by the depositing Institution in accordance with Article 37 of these Provisions for Deposits with the same characteristics at the opening of operations on the date of renewal, unless a lower rate has been expressly agreed.

To calculate the interest corresponding to the funds deposited in the relevant accounts, Institutions must apply the respective interest rates to the average of the daily balances during the period in which they were valid.

Modifications to Interest Rates
Article 11.- The interest rates agreed upon in Deposits may be modified as follows:

I. In On-demand and Savings Deposits, Institutions may reserve the right to modify the rate, and
II. In Deposits withdrawable on pre-established days, rates may only be modified on Days when the depositor can make withdrawals.

In Time Deposit operations, Institutions may not modify the interest rate during its validity.

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Documentation
Article 12.- Institutions must document the Deposits they enter into as follows:

I. Regarding On-demand Deposits, those with prior notice, and those withdrawable on pre-established days, through contracts, and
II. In the case of Time Deposits, through certificates or statements of time deposit.

Other Characteristics
Article 13.- In addition to what is provided in the previous articles, Institutions must comply with the following:

I. Institutions may agree on automatic renewals of Deposits, in which case, if the maturity of the Deposit is not on a Banking Business Day, the operation shall be deemed renewed precisely on said Day for a term equal to the originally contracted one. In this case, the rates published by the Institution, in accordance with Article 37 of these Provisions for passive operations of the same class as the one being renewed, on the immediate preceding Banking Business Day to the renewal, or, if applicable, the reference rate established in accordance with Article 38 of these Provisions, shall apply.

If on the immediate Banking Business Day following the renewal referred to in the previous paragraph, the holder presents themselves to withdraw their funds, such renewal shall be cancelled and the Institution in question must deliver such funds and the corresponding interest, which shall accrue at the originally agreed rate, considering all Days effectively elapsed, including the day of payment.

In the case of Deposits where automatic renewal was not agreed upon and on whose maturity date the holder does not present themselves to receive payment, Institutions must, from the immediate Banking Business Day following maturity, transfer the funds to an On-demand Deposit account or renew them for a term of one Day, paying at least the yield they publish for this type of Deposit.

II. In Time Deposits, the term must be established in Days and will be mandatory for both parties.

When such Deposits are documented through certificates, they may not be renewed upon maturity, whereas those documented through statements may be automatically renewed upon maturity.

III. In Savings Deposits, interest shall be paid in arrears monthly through credits to the account itself.

Subsection B
On-demand Deposits
Levels of Operation
Article 14.- On-demand Deposit accounts will be classified into four levels of operation depending on the requirements for opening the account in question, in accordance with the "General Provisions referred to in Article 115 of the Credit Institutions Law" of the Ministry of Finance and Public Credit.

Such accounts must comply with the following:

I. In accounts classified as level 1, the sum of credits during a calendar month may not exceed the equivalent in national currency to seven hundred fifty UDIS. At no time may the balance of these accounts exceed the equivalent in national currency to one thousand UDIS.
II. In accounts classified as level 2, the sum of credits during a calendar month may not exceed the equivalent in national currency to three thousand UDIS.
III. In accounts classified as level 3, the sum of credits during a calendar month may not exceed the equivalent in national currency to ten thousand UDIS.
IV. In accounts classified as level 4, the crediting of funds will have no limit, unless, if applicable, Institutions agree on one with their clients.

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In level 2 accounts, Institutions may receive monthly deposits in addition to the established limit up to the equivalent in national currency to six thousand UDIS, provided that the source of the funds comes exclusively from subsidies related to government support programs for certain sectors of the population.

To perform the calculation in UDIS of the limits indicated in this article, Institutions must take the value of this unit of account from the last Day of the calendar month preceding the month in question.

To determine the maximum amount of credits in level 1, 2, and 3 accounts during a calendar month, Institutions may exclude amounts related to interest, refunds for electronic fund transfers, and any other bonus that such Institutions make for the use or management of the account, if applicable, carried out during the period in question.

Withdrawal of Funds
Article 15.- Institutions must allow their clients to withdraw funds from their accounts in accordance with the following:

I. Regarding level 1 accounts, exclusively through debit cards.

Institutions must not allow level 1 account funds to be accessed via mobile phones or any other electronic device other than ATMs and point-of-sale terminals.
II. Regarding level 2, 3, and 4 accounts, through the means determined by Institutions, such as electronic fund transfers, including Direct Debit, and debit cards.
III. Only in level 4 accounts may withdrawals be authorized by issuing checks.

Means of Disposition and Payment
Article 16.- The means of disposition and payment shall be the following:

I. Electronic fund transfers;
II. Debit cards, and
III. Checks.

Electronic Fund Transfers
Article 17.- Institutions may offer electronic fund transfers through their Internet website, mobile phones, or any other means they determine. In this case, Institutions are obligated to:

I. Assign a CLABE to each level 2, 3, and 4 account, as well as allow the receipt of electronic fund transfers using said CLABE.

The provisions of the previous paragraph shall apply without prejudice to Institutions allowing the receipt of such electronic fund transfers using the sixteen digits of debit card identification or the digits corresponding to the line of a mobile phone associated with the account in question.

To receive electronic fund transfers in level 1 accounts, the CLABE assigned by Institutions, if any, or the sixteen digits of debit card identification may be used.
II. Process instructions received to make credits to accounts held for their clients and to transfer funds from these, within the same timeframes, regardless of whether the accounts from which the funds originate or to which they are to be transferred are held by the Institution itself or another.
III. Allow clients to include information to identify the purpose of the payment in all electronic fund transfers. This information must be sent to the receiving financial entity and made available to the beneficiaries of the transfer.

Institutions may not charge clients commissions for the inclusion and sending of the information referred to in the preceding paragraph, without prejudice to commissions charged for sending electronic fund transfers.

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IV. Maintain on the Internet a simple guide on procedures, terms, and conditions, so that their clients use, within the Institution or interbank, electronic fund transfer and Direct Debit services. Additionally, Institutions must deliver a printed copy of said guide free of charge to any person who requests it at their branches.

Institutions may not charge each other commissions for the sending, receipt, return, or execution of electronic fund transfers, except for Direct Debits, nor differentiate the amount of commissions charged to their clients for sending electronic fund transfers, including Direct Debits, based on the Institution holding the beneficiary's account or the amount of the operation.

Characteristics of Debit Cards
Article 18.- Debit cards may be presented in the forms determined by Institutions, provided that they clearly show the name of the issuing Institutions or any other expression, symbol, emblem, or logo that identifies them.

In addition to the foregoing, debit cards associated with level 2, 3, and 4 accounts may be established in the form of microcircuits contained in mobile phones, provided that, when using the respective application, the name of the issuing Institution or any other expression, symbol, emblem, or logo that identifies it is clearly displayed.

Institutions must incorporate the expiration date of the cards on the front in a visible manner. Regarding other forms of debit cards with a defined validity period, Institutions must inform their clients of it through some means that leaves a record of it.

Use of Debit Cards
Article 19.- Debit cards may be used to withdraw cash at the issuing Institution's branches, ATMs, through banking agents, at affiliated businesses; to pay for goods, services, credits, and taxes, as well as to make other payments that Institutions allow their clients to make.

In contracts that Institutions sign with third parties for card payment processing, they must allow them the option to accept as a payment method for the goods and services they offer:

I. Only debit cards;
II. Only credit cards, or
III. Debit cards and credit cards.

Additional Characteristics of Level 1 Accounts and Associated Debit Cards
Article 20.- Regarding debit cards associated with level 1 accounts, in addition to what is stated in Articles 18 and 19, Institutions must observe the following:

I. Offer
Institutions may offer them:

a) At their branches; b) Through their banking agents; c) Through electronic means made available to their clients, and d) Through any other person authorized by the Institutions themselves.
II. Information to the Public
The terms and conditions applicable to these debit cards must be made available to the public on the issuing Institution's Internet page, as well as delivered in writing to persons acquiring them and must contain, at least, the following:

a) The ways in which they may be used and credited; b) The concepts, amounts, periodicity, and validity of commissions, if any, charged, as well as the mechanism by which modifications to such commissions will be made known; c) The expiration date; d) The yield, if any, generated by the balance;

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e) Security measures for their use; f) Procedures to report any malfunction of the debit card and, if applicable, theft or loss, as well as to request clarifications and to obtain the return of funds upon cancellation or termination of validity; g) Mechanisms to consult the balance as well as, if applicable, movements, and h) Mechanisms and information that must be provided or used to receive credits through electronic fund transfers.

Additionally, Institutions must deliver to their clients a receipt of the acquisition of the corresponding debit card, which may serve as proof of account opening.
III. Use
The debit cards referred to in this article may only be used within national territory, therefore they may not be used to withdraw cash or make payments abroad, nor to make electronic fund transfers.
IV. Return of Funds
Issuing Institutions of debit cards are obligated to return to their clients the balance of funds deposited in level 1 accounts when they cancel them, due to malfunction of the debit card, or once their validity has ended.

The foregoing shall be applicable provided that the client in question proves ownership of the respective funds through the presentation or delivery of the debit card in question or, in its absence, the information or documentation indicated in any of the following sub-items:

a) The proof of account opening or acquisition of the debit card; b) The debit card number and the associated personal identification number, if both exist, or c) In any other manner established in the terms and conditions issued by Institutions for the operation of said debit cards.

Characteristics of Checks
Article 21.- The check skeletons that Institutions deliver to their account holders must comply with the specifications for the automated process developed by said Institutions through the Mexican Banking Association, A.C., established in the following standards:

I. “MCH1.1 Specifications of the format and content of the magnetically readable character band”;
II. “MCH2.1 Specifications of the printing of magnetically readable characters”;
III. “MCH3.2 Specifications of the security measures to be used for the preparation of the check”, and
IV. “MCH4.2 Design of the front and back of the check”.

Institutions may authorize their account holders to issue checks on documents other than the special skeletons provided to them only when such documents comply with the specifications referred to in this article, which must be verified by the Institution granting said authorization.

Amount of Named Checks
Article 22.- Checks for amounts equal to or greater than twenty thousand pesos must always be named.

Subsection C
Other Provisions Relating to Deposits and Loans Withdrawal of Funds
Article 23.- Institutions must allow their clients to withdraw their funds in accordance with the following:

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I. Regarding Withdrawable Deposits with Prior Notice, the corresponding contract must establish the period with which the client must give prior notice for withdrawals and the maximum amount of these.

II. Regarding Deposits withdrawable on pre-established days and Term Deposits, the funds may only be withdrawn on the Days agreed upon in the respective contract.

When any of the agreed Days for the withdrawal of the corresponding funds is not a Banking Business Day, they may be withdrawn on the immediate next Banking Business Day. In this case, the earnings will continue to accrue at the originally agreed interest rate until the Day on which the withdrawal is made and must include the earnings corresponding to that Day.

Institutions may agree with their clients that if the scenario provided for in the preceding paragraph occurs, the Deposit may also be withdrawn on the immediate previous Banking Business Day to the agreed Day for withdrawal. In this case, the contracts must establish that the withdrawal may be made at the depositor's choice in either of the two options mentioned.

Institutions shall refrain from allowing withdrawals on Days other than those expressly stated in the contract or respective document.

Notwithstanding the foregoing, regarding Deposits withdrawable on pre-established days, Institutions may agree that these Deposits are also withdrawable with prior notice. In this case, the corresponding contract must establish the period with which prior notice must be given for withdrawals and the maximum amount of these.

III. In Savings Deposits, the client may dispose of their funds on demand.

Special Personal Savings Accounts

Article 24.- In special personal savings accounts, provided for in the Income Tax Law, Institutions must observe the following:

I. They may have only one holder, unless they are account holders who have contracted marriage under the community property regime, in which case, at the time the account is opened, they must choose whether the account is considered to belong to both spouses, in the proportion corresponding to the community property, or to only one of them.

II. Amounts exceeding the maximum provided for in the Income Tax Law may not be received.

III. To determine the amount of accrued interest, the average daily balances of the period in which they have been in effect must be applied.

IV. The accrued interest may be capitalized even if the account balance is at the maximum amount according to applicable provisions.

V. They are withdrawable on demand.

Regarding accounts documented separately, their combined amount will be considered for the purposes of the maximum amount referred to in fraction II of this article.

Institutions must stipulate in the respective contracts that account holders may not assign or encumber as collateral the rights derived for them from said accounts.

All documentation or notices regarding the credits and withdrawals in question must expressly mention that they refer to a special personal savings account provided for in the Income Tax Law.

Acceptance of Loans and Credits

Article 25.- Regarding loans documented in promissory notes with yield payable at maturity, Institutions must observe the following:

I. The agreed interest rate and amount will remain fixed during the validity of the instrument, without any revision thereof, and interest will be paid at the maturity of the instrument;

II. When issuing the promissory notes, they must agree with their clients on the corresponding term, which must be established in Days and will be mandatory for both parties, and

III. They will be amortized at the maturity of the agreed term.

The acceptance of other loans and credits must be documented through contracts.

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Subsection D

Bank Bonds and Securities Certificates

Issuance

Article 26.- Institutions may issue bank bonds and securities certificates subject to the following:

I. The term of the securities certificates may not be less than one year;

II. Institutions may prepay the bank bonds and securities certificates they issue, provided that in the issuance deed, in the information prospectus, in any other propaganda or advertising directed to the public regarding the characteristics of the issuance in question, and in the instruments issued, the terms, dates, and conditions of prepayment are clearly described, and

III. In the issuance deed, in the respective instruments, as well as in the information prospectuses and brochures, Institutions must specify the rights and obligations of the issuer and the holders of the instruments, so that such documents must contain, in addition to what is provided in the Credit Institutions Law and the Securities Market Law, according to the title in question, at least information relating to the following:

a) Name of the issuance;

b) Term and maturity of the issuance;

c) Place of payment of principal and interest;

d) Possible acquirers;

e) Administrative deposit;

f) Domicile of the issuer, and

g) Competent courts.

Subsection E

Subordinated Obligations

Issuance

Article 27.- Institutions may issue subordinated obligations and place them directly without the intermediation of brokerage houses.

Institutions wishing to issue subordinated obligations must submit their authorization request to the Bank of Mexico accompanied by the draft issuance deed, multiple instrument, and information prospectus. In said request, they must indicate the terms and conditions under which they intend to place said instruments.

Issuance Deed and Information Prospectus

Article 28.- In the issuance deed and in the respective instruments of the subordinated obligations, Institutions must expressly indicate whether these are convertible or not, and, if so, the terms of such conversion.

Likewise, Institutions must provide that, in said conversion, bondholders will adhere to what is provided in the Credit Institutions Law and, regarding Development Banking Institutions, additionally to what is provided in their organic laws, regarding the form, proportions, and other conditions applicable to the subscription, holding, and circulation of instruments representing capital.

Additionally, Institutions must expressly establish, both in the aforementioned documents and in the information prospectus, the following:

I. The prohibitions and limits provided for in articles 29 and 30 of these Provisions;

II. Regarding preferential subordinated obligations, their payment in the event of liquidation or commercial bankruptcy of the issuer will be pro rata, without distinction of issuance dates, after covering all other debts of the Institution, but before distributing to the holders of shares or capital contribution certificates, as applicable, the social equity and, regarding non-preferential subordinated obligations, said payment will be carried out under the terms mentioned above, but after having paid the preferential subordinated obligations;

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III. The issuing Institution may not acquire for its own account, directly or indirectly, the subordinated obligations issued by it nor by other Institutions or controlling companies of financial groups, nor may they be received as collateral by Institutions, and

IV. If applicable, information regarding the deferral of interest or principal payment, the cancellation of interest payment and/or the conversion of the issued obligations.

In addition to the foregoing, Multiple Banking Institutions must expressly establish what is provided for in articles 134 Bis and 134 Bis 1 of the Credit Institutions Law.

Prohibition of Acquisition

Article 29.- In no case may the subordinated obligations issued by Institutions be acquired by:

I. Financial entities of any type when acting for their own account. This prohibition is excepted for the following financial entities:

a) Investment companies in debt instruments and common ones;

b) Brokerage houses that acquire the obligations for their subsequent placement with the public investor, and

c) Mutual insurance institutions and surety institutions, when they acquire the obligations as an investment object of their technical reserves and for value fluctuations.

In the case of subordinated obligations issued by Multiple Banking Institutions, the exceptions mentioned in subsections a), b), and c) above will not be applicable regarding investment companies in which the Institution issuing the obligations or any entity belonging to the group to which it belongs has, directly or indirectly, the majority of fixed capital, as well as regarding financial entities of the same financial group to which the issuing Multiple Banking Institution belongs.

Regarding subordinated obligations issued by Development Banking Institutions, the exceptions mentioned in the aforementioned subsections a), b), and c) will not be applicable regarding investment companies in which the issuing Institution of the obligations has directly or indirectly the majority of fixed capital and financial entities in whose capital the issuing Development Banking Institution participates.

II. Any national or foreign entity in which the issuer is the owner of instruments representing social capital with voting rights that represent fifty-one percent or more of the paid-up capital of that entity, has control of the general assemblies of partners, or is in a position to name the majority of the members of the board of directors or equivalent body. For the purposes of this fraction, control will be understood as defined in the Securities Market Law.

III. Pension or retirement funds for personnel, when the entity administering them is the Institution issuing the obligations and, regarding obligations issued by Multiple Banking Institutions, when the entity administering said funds is a member of the financial group to which the issuing Institution belongs.

IV. Trusts, mandates, or commissions, when the investment is made at the discretion of the trustee, regarding trusts, mandates, or commissions in which the trustee is the issuing Institution itself or any entity of the financial group to which such Institution belongs.

Limit on Acquisition

Article 30.- Institutions must verify that financial entities and pension and retirement funds that may invest in subordinated obligations do not acquire more than ten percent of the amount of the issuance of obligations in question. This limit will be applicable collectively to the financial entities belonging to the same financial group, as well as to the subsidiaries of financial entities, including the entities themselves that do not form part of a financial group.

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Payment of Interest and Principal

Article 31.- The issuing Institution may defer the payment of interest and principal, as well as cancel the payment of interest generated by the obligations it subscribes, in which case it must establish in the issuance deed, in the information prospectus, in any other type of advertising relative to the characteristics of the issuance in question, and in the instruments issued, the cases, terms, and conditions under which it will carry out such acts.

Likewise, the issuing Institution may prepay the obligations it issues, provided that in the issuance deed, in the information prospectus, in any other propaganda or advertising directed to the public regarding the characteristics of the issuance in question, and in the respective instruments, it clearly describes the terms, dates, and conditions of prepayment. In obligations susceptible to being converted into shares or capital contribution certificates, as applicable, the right of the issuing Institution to make prepayment will include the conversion of the respective instruments.

Institutions that comply with the provisions of the preceding paragraph may convert obligations of mandatory conversion into shares or capital contribution certificates, as applicable, as well as those of voluntary conversion into such shares or capital contribution certificates, whose payment is made through their conversion into instruments representing the capital of the Institution in question.

Institutions may prepay subordinated obligations provided that, in addition to complying with what is provided for in the second paragraph of this article and once the payment is made, they maintain an index of capitalization for credit, market, and operational risks, greater than ten percent, calculated in terms of what is provided in article 50 of the Credit Institutions Law. In case Institutions do not comply with this last requirement, they may submit the corresponding authorization request to the Bank of Mexico.

Subsection F

Bank Acceptances

Characteristics

Article 32.- Institutions may accept bills of exchange in national currency when:

I. They have previously received their amount or have contracted a credit or a line of credit with the drawer to cover said amount;

II. They are drawn by natural or legal persons other than the Institution accepting them, either to the order of the drawer or of whom he designates;

III. They are drawn for a term greater than one Banking Business Day, and

IV. They are negotiable.

Subsection G

Structured Bank Titles

Issuance

Article 33.- Institutions that have authorization from the Bank of Mexico to act for their own account in terms of the "Rules for the Conduct of Derivative Operations" of the Central Bank itself, may agree with their clients that the yield of the operations structured with fixed-term deposits, bank bonds, and securities certificates, is determined based on the variations observed in the prices of the underlying assets provided for in said Rules, with the exception of those indicated in subsection a) of numeral 2.1 of said Rules, regarding which they are authorized to celebrate said derivative operations.

Types of Structured Bank Titles

Article 34.- Structured bank titles may be linked with:

I. Fixed-term deposits, bank bonds, or bank securities certificates.

In these operations, Institutions may under no circumstances liquidate at maturity an amount less than the equivalent in national currency of the principal invested by the client.

When celebrating these operations, Institutions must observe the following:

a) The minimum amount of each operation at the time of agreeing with clients or, if applicable, renewing, must be the equivalent in national currency to ten thousand UDIS, and

b) In the contracts and account statements provided to their clients for the celebration of the referred operations, they must include the following legend: "This investment instrument may not generate yields, or these may be lower than those existing in the market, but in no case, at the maturity of the operation, can a nominal amount lower than the invested principal be liquidated."

II. Bank bonds or bank securities certificates.

In these operations, depending on the behavior of financial asset prices, Institutions may liquidate at maturity an amount less than the equivalent in national currency of the principal invested by the client.

When celebrating these operations, Institutions must observe the following:

a) The minimum amount of each operation at the time of agreeing with clients or, if applicable, renewing, must be the equivalent in national currency to three hundred thousand UDIS;

b) The operations must be celebrated in places other than the counters of branches;

c) They may not conduct advertising related to these operations through mass media, and

d) In the contracts and account statements provided to their clients for the celebration of the referred operations, they must include the following legend: "This investment instrument may not generate yields, or these may be lower than those existing in the market and even, at the maturity of the operation, a nominal amount lower than the invested principal may be liquidated."

General Provisions

Article 35.- Institutions must provide to clients, prior to the date of celebration of the contract in which the operations indicated in fractions I and II of the previous article must be instrumented, the documentation describing the terms and conditions of the operation and its risks, as well as exercises that quantify the possible yields or losses that, under different scenarios, could be generated by the celebration of said operations.

Prior to the celebration of the respective operations, Institutions must obtain from their clients and keep in the corresponding file a written record in which they manifest that they know the risks and the possible yields or losses that could be generated by the celebration of such operations.

Subsection H

General Provisions Applicable to Passive Operations

Characteristics that may be freely determined

Article 36.- In the passive operations they celebrate, Institutions may freely determine the following:

I. Minimum amounts and balances to which they are willing to celebrate the passive operation in question;

II. Interest rates or, if applicable, yields that accrue;

III. Frequency of interest payment, and

IV. Term at which they will celebrate the operations.

Information on Interest Rates

Article 37.- Institutions are obligated to inform the interest rates at which they are willing to celebrate passive operations with the general public through their Internet electronic page. Notwithstanding the foregoing, Institutions may additionally make them known through other means.

Institutions are obligated to celebrate operations at the interest rates published in terms of the preceding paragraph without prejudice to the fact that they may agree with their clientele rates higher than those published. Notwithstanding the above, said Institutions will not be obligated to celebrate such operations with financial entities at the rates published in accordance with this article.

Reference Interest Rates

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Article 38.- In the passive operations with variable interest rates that Institutions celebrate, they may only use as a reference rate any of the following:

I. The TIIE;

II. The yield rates in primary placement of CETES and BONDES;

III. The term cost of capture of liabilities denominated in national currency that the Bank of Mexico estimates representative of the set of Multiple Banking Institutions and that it publishes in the Official Gazette of the Federation;

IV. The Weighted Interbank Funding Rate, and

V. The Weighted Government Funding Rate.

These last two rates will be those that the Bank of Mexico makes known on its Internet electronic page identified with the domain name www.banxico.org.mx.

When using any of the reference rates provided for in fractions I and II above, the term of the TIIE, of CETES, and of BONDES, as applicable, to which the rate of the operations is referred, must be indicated.

In operations where Institutions include any reference rate, they must agree on one or more substitute reference rates for cases where the originally agreed reference rate ceases to exist, agreeing on the order in which, if applicable, they would substitute it.

Once the rate of the corresponding operation is agreed, its modification will not proceed, so it will remain throughout the validity of the instrument, except in those instruments where Institutions reserve the right to modify the rate periodically when applicable provisions allow it.

Calculation of Yields and Payment of Interest

Article 39.- Interest rates and yields will be expressed in annual terms and will be calculated by dividing these by three hundred sixty, multiplying the obtained result by the number of Days effectively elapsed during the period in which the yields accrue, and multiplying this last result by the amount of the operation. All calculations will be rounded to the nearest cent.

When interest is payable for expired periods, payments must be made at the maturity of each period, except for the first and last payment, which may refer to shorter periods, in order to adjust each particular operation to the cut-off and general payment dates established by each Institution for such effect.

Institutions may establish various cut-off dates for the payment of interest and thereby distribute the payment of interest on their passive operations over several Days of the month.

Institutions are prohibited from granting benefits, covering reimbursements, compensations, commissions, or other concepts, in favor, directly or indirectly, of their clients, in excess of those agreed upon when celebrating the respective operation.

Prepayment of Letters of Credit

Article 40.- Institutions may prepay obligations due from them arising from irrevocable term documentary commercial credits and, if applicable, from term acceptances drawn in relation to letters of credit, in accordance with what is established in the Credit Institutions Law. The foregoing, provided that the documents presented by the beneficiaries comply with the terms and conditions provided for in the letters of credit themselves.

The referred prepayment must be made at market prices and the beneficiary must consent in writing to the terms and conditions under which it will be carried out.

The aforementioned prepayment will not modify the obligations of the applicant of the letter of credit with the issuing Institution.

Custody, Administration, and Registration of Documents

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Article 41.- Institutions may administer and safeguard on behalf of their clients the documents that evidence Time Deposits they receive, as well as the credit titles that secure liabilities owed by them.
Institutions shall keep a register of the certificates, documents, and titles that they issue or receive.

Receipt of Documents Subject to Good Collection

Article 42.- Commercial documents delivered to Institutions for credit to an account shall be received at their discretion subject to good collection or in firm, so that their amount shall be credited once the payment has been covered or, if applicable, at the time the operation is carried out. The respective credit shall comply with the provisions of general character issued by the Bank of Mexico regarding the crediting of payments.

Section II
Passive Operations in UDIS

Passive Operations That May Be Denominated in UDIS

Article 43.- Institutions may denominate in UDIS the following national currency passive operations:
I. Withdrawable deposits with prior notice;
II. Deposits withdrawable on predetermined days;
III. Time deposits;
IV. Loans documented in promissory notes with yield payable at maturity;
V. Bank bonds;
VI. Stock certificates;
VII. Subordinated obligations, and
VIII. Other passive operations derived from interbank operations.
The term of the operations mentioned in the preceding paragraph shall not be less than three months.
Regarding Withdrawable deposits with prior notice, the corresponding contract shall stipulate that at least three months must elapse between one withdrawal and the next.
In the legal instruments by which Institutions document passive operations denominated in UDIS, they shall observe what is stated in Article 6 of these Provisions, as well as stipulate a single interest rate, which may be expressed as a certain number of fixed percentage points applicable to the amount of the operation denominated in UDIS, or as a certain number of fixed percentage points or a percentage, added to or subtracted from any known real interest rate in the money market, without alternative rates being stipulated. In passive operations denominated in UDIS, Institutions may use as a reference the primary placement interest rates of UDIBONOS. In this case, Institutions shall indicate the term to which the interest rate of the operations refers.

Characteristics That May Be Freely Determined

Article 44.- In the passive operations they enter into, Institutions may freely determine the following:
I. Minimum amounts and balances to which they are willing to enter into the passive operation in question;
II. Interest rates or, if applicable, yields that accrue;
III. Frequency of interest payments, and
IV. Term for which they enter into the operations, considering what is established in the previous article.

Section III
Passive Operations in Foreign Currency

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Section A
General Provisions for Deposits

Types of Deposits

Article 45.- Foreign Currency Deposits may be of two types:
I. Demand deposits with or without checkbooks payable in the Mexican Republic, and
II. Time deposits payable abroad.

Account Holders

Article 46.- Institutions may receive Foreign Currency Deposits from the persons indicated below:
I. Regarding Demand deposits with or without checkbooks payable in the Mexican Republic:
a) From individuals with domicile in towns located in a twenty-kilometer strip parallel to the northern international border of the country or in the states of Baja California and Baja California Sur; b) From legal entities that have their domicile in national territory, and c) From official representations of foreign governments, international organizations and analogous institutions, foreign citizens who provide their services in such representations, organizations and institutions, as well as from foreign correspondents; which must be accredited in Mexico before the State Secretariat corresponding to them. Institutions may only open these accounts to persons who, through the corresponding documentation, demonstrate that they fall under any of the aforementioned cases, of which they must keep a record.
II. Regarding time deposits payable abroad from legal entities that have their domicile in national territory.

Crediting of Funds

Article 47.- Foreign Currency Deposit accounts may be credited through:
I. Electronic fund transfers of bank deposits denominated and payable in Foreign Currency;
II. Delivery of demand documents denominated in Foreign Currency and payable abroad, and
III. Delivery of Foreign Currency.

Withdrawal of Funds

Article 48.- Institutions shall allow the withdrawal of funds from Foreign Currency Deposit accounts through:
I. Electronic fund transfers denominated and payable in Foreign Currency, and
II. Delivery of demand documents denominated in Foreign Currency and payable abroad.
Additionally, regarding demand deposits with or without checkbooks payable in the Mexican Republic, Institutions shall allow withdrawal through:
a) Debit cards; b) Checks, if applicable, and c) Delivery of Foreign Currency, which shall be conditioned on the availability of respective banknotes and coins by the branch where the beneficiary intends to make the withdrawal.

Additional Characteristics

Article 49.- Regarding Demand deposits with checkbooks, Institutions shall comply with the following:
I. The skeletons of the checks shall contain on the front the following legend: “This title shall be paid precisely in (name of the foreign currency and country where it has legal tender, when the latter is necessary to identify the currency in question)”.
II. Checks drawn by individuals may only be paid at offices established in the towns mentioned in subsection a) of fraction I of Article 46 of these Provisions.
III. The payment of checks shall be made at the choice of the respective beneficiary through:

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section) a) Electronic fund transfers to bank deposit accounts denominated and payable in Foreign Currency; b) Delivery of demand documents denominated in Foreign Currency and payable abroad, or c) Delivery of Foreign Currency, which shall be conditioned on the availability of respective banknotes and coins by the branch where the beneficiary intends to cash the check in question.

Interest Rates and Interest

Article 50.- Institutions may freely determine the interest rates they agree upon with their clients.
The interest that accrues on Foreign Currency Deposits shall be subject to the following:
I. In Demand deposits with or without checkbooks payable in the Mexican Republic, interest shall be calculated on average daily balances of the period in which they have been in effect and may be capitalized if so established in the respective contract.
II. In Time deposits payable abroad, once the rate has been agreed upon, it shall remain fixed throughout the duration of the Deposit.

Documentation

Article 51.- Foreign Currency Deposits shall be documented as follows:
I. Regarding Demand deposits with or without checkbooks payable in the Mexican Republic, through contracts that indicate the obligation of the depositary to pay the respective resources precisely through the delivery of Foreign Currency. Additionally, it shall be stipulated that the depositor may not assign the rights derived for him from the legal instrument by which the Deposit is documented.
II. In the case of Time deposits payable abroad, through non-negotiable certificates or deposit receipts in which it is specified that the rights corresponding to the Deposits they document may not be transferred. In both cases, the term shall be mandatory for both parties and shall not be less than one Day. Deposit receipts may stipulate the automatic renewal of the operation, in case the respective Deposit is not withdrawn at its maturity.
In the aforementioned documents, the manner in which the respective resources may be withdrawn shall be stipulated. Likewise, what is stated in Article 6 of these Provisions shall be observed.

Minimum Amounts and Commissions

Article 52.- Institutions may determine the minimum amounts from which they are willing to receive Foreign Currency Deposits, as well as the commissions they will apply for the management of the respective accounts.
Additionally, Foreign Currency Deposits shall comply with what is stated in Articles 10, 11, 39 and 42 of these Provisions.

Section B
Bank Bonds and Stock Certificates

Issuance

Article 53.- Institutions may issue bank bonds and stock certificates in Foreign Currency under the terms of Article 26 above. The second paragraph of fraction II of Article 23 and Articles 39, 41 first paragraph and 42 of these Provisions shall apply to these titles.
The payment of bank bonds and stock certificates shall be made at the choice of the respective beneficiary through:
I. Electronic fund transfers for credit to bank deposit accounts denominated and payable in Foreign Currency, or
II. The delivery of demand documents denominated in Foreign Currency and payable abroad.

Section C
Subordinated Obligations

Issuance

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Article 54.- Institutions may issue subordinated obligations in Foreign Currency with prior authorization from the Bank of Mexico under the terms of Article 27 above. The second paragraph of fraction II of Article 23 and Articles 37, 38, 39, 41 first paragraph and 42 of these Provisions shall apply to these titles.
The payment of subordinated obligations that are not convertible into shares or capital contribution certificates, as applicable, shall be made at the choice of the respective beneficiary through:
I. Electronic fund transfers for credit to bank deposit accounts denominated and payable in Foreign Currency, or
II. The delivery of demand documents denominated in Foreign Currency and payable abroad.

Section D
Bank Acceptances

Characteristics

Article 55.- Institutions may accept foreign currency bills of exchange when:
I. They have previously received their amount or have contracted a credit or a line of credit with the drawer to cover said amount;
II. They are drawn by individuals or legal entities other than the Institution accepting them, either to the order of the drawer or of whom he designates;
III. They are drawn for a term greater than one Banking Business Day, and
IV. They are negotiable.

Section E
Structured Bank Titles

Issuance

Article 56.- Institutions that have authorization from the Bank of Mexico to act on their own behalf under the terms of the “Rules for the Conduct of Derivative Operations” of the Central Bank itself, may agree with their clients that the yield of the operations structured with time deposits payable abroad denominated in foreign currency, bank bonds and stock certificates, shall be determined based on the variations observed in the prices of the underlying assets provided for in said rules, with the exception of those indicated in subsection a) of numeral 2.1 of the cited Rules, regarding which they are authorized to enter into the cited derivative operations.

Types of Structured Bank Titles

Article 57.- Structured bank titles may be linked with:
I. Time deposits payable abroad denominated in foreign currency, bank bonds or bank stock certificates.
In these operations, Institutions may under no circumstances liquidate at maturity an amount less than the principal invested by the client.
When entering into these operations, Institutions shall observe the following:
a) The minimum amount of each operation at the time of agreeing with their clients or, if applicable, renewing, shall be four thousand Dollars, and b) In the contracts and account statements they provide to their clients for the entry into the aforementioned operations, they shall include the following legend: “This investment instrument may not generate yields, or these may be lower than those existing in the market, but in no case, at the maturity of the operation, may a nominal amount lower than the principal invested be liquidated.”
II. Bank bonds or bank stock certificates.
In these operations, depending on the behavior of asset prices, Institutions may liquidate at maturity an amount less than the principal invested by the client.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section) When entering into these operations, Institutions shall observe the following:
a) The minimum amount of each operation at the time of agreeing with their clients or, if applicable, renewing, shall be one hundred thousand Dollars, b) The operations shall be entered into in places other than the counters of the branches; c) They may not conduct advertising related to these operations through mass media, and d) In the contracts and account statements they provide to their clients for the entry into the aforementioned operations, they shall include the following legend: “This investment instrument may not generate yields, or these may be lower than those existing in the market and even, at the maturity of the operation, a nominal amount lower than the principal invested may be liquidated.”

General Provisions

Article 58.- Institutions shall provide to clients prior to the date of celebration of the contract in which the operations indicated in fractions I and II of the previous article must be instrumented, the documentation describing the terms and conditions of the operation and its risks, as well as exercises that quantify the possible yields or losses that, under different scenarios, could be generated by the entry into such operations.
Prior to the entry into the respective operations, Institutions shall obtain from their clients and keep in the corresponding file, a written record in which they manifest that they know the risks and the possible yields or losses that could be generated by the entry into such operations.

Section F
Bank Cards

Issuance and Use

Article 59.- Institutions may issue bank cards in Foreign Currency, which shall be means of disposal and payment. The resources assigned to such cards shall constitute a liability of the Institution itself.
For the acquisition of these cards, it shall not be necessary to sign a contract and the provisions of the 19th of the “General Provisions referred to in Article 115 of the Credit Institutions Law” of the Ministry of Finance and Public Credit shall be complied with. The aforementioned cards may be used within national territory and abroad, provided that they are not used to make electronic fund transfers.

Characteristics

Article 60.- Institutions may freely determine the physical characteristics of Foreign Currency bank cards, their commercial name and their maximum balance.
Notwithstanding the foregoing, the expiration date, the denomination or any other expression, symbolism, emblem or logo of the issuing Institution shall be shown on the front of the cards. Likewise, the cards shall show the name of the individual who may dispose of the resources assigned to the cards. Additionally, the following provisions shall apply to the aforementioned bank cards:
I. The interest rates that, if applicable, Institutions use to calculate the interest corresponding to the resources maintained in the accounts in question, shall be applied to the average of the daily balances of the period in which they have been in effect.
II. Institutions shall allow cash credits, through electronic fund transfers and by checks.
III. The cards may be used to withdraw cash at branches of the issuing Institution, at automated teller machines, through banking commissionaires, as well as at affiliated businesses, and to pay for goods, services, credits and taxes, as well as to make other payments that Institutions allow their clients to make.

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IV. Institutions may offer them:
a) At their branches; b) Through their banking commissionaires, and c) Through electronic means made available to their clients.
V. The terms and conditions applicable to these cards shall be made available to the public on the website of the issuing Institution, as well as delivered in writing to the persons who acquire them and shall contain, at least, the following:
a) The ways in which they may be used and credited; b) The concepts, amounts, frequency and validity of the commissions charged, if any, as well as the mechanism by which modifications to such commissions will be made known; c) The expiration date; d) The yield, if any, generated by the balance; e) Security measures for their use; f) Procedures to report any malfunction of the card and, if applicable, theft or loss; as well as to request clarifications and to obtain the return of resources due to the cancellation or termination of their validity; g) Mechanisms to consult the balance and, if applicable, the transactions, and h) Mechanisms and information that must be provided or used to receive credits through electronic fund transfers. For the purpose of crediting Foreign Currency bank cards through electronic fund transfers, the CLABE that, if applicable, Institutions assign to them, or the sixteen identification digits of the corresponding card may be used.

Section G
Other Characteristics

Characteristics That May Be Freely Determined

Article 61.- In the passive operations they enter into, Institutions may freely determine the following:
I. Minimum amounts and balances to which they are willing to enter into the passive operation in question;
II. Interest rates or, if applicable, yields that accrue;
III. Frequency of interest payments, and
IV. Term for which they enter into the operations.

CHAPTER II
ACTIVE OPERATIONS

Applicable Provisions

Article 62.- When carrying out active operations, Multiple Banking Institutions shall observe the general provisions issued by the Bank of Mexico that are provided for in other regulations, such as those relating to credit cards, interest rates, limitation of charging interest in advance, total annual cost, crediting of payments and advance payments.

Deadline for Making Credit Payments

Article 63.- In the event that the payment deadline for the credits granted by Multiple Banking Institutions does not correspond to a Banking Business Day, Institutions shall allow the payment to be made on the following Banking Business Day without any penalty for the credited party.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

CHAPTER III
SERVICES

Section I
Domiciliation in Bank Deposit Accounts

Contracting Requests
Article 64.- The Institutions offering the Domiciliation service must attend to the requests for its contracting in accordance with articles 70 to 74 below and by using the format established in Annex 1 of these Provisions, which must be presented to them by the holders of the Accounts they hold.
The Provider Bank must agree with the Providers that when they receive the respective request, they must collect at least the information indicated in the aforementioned Annex 1.

Cancellation Requests
Article 65.- The Customer Bank must attend to the requests for cancellation of the Domiciliation presented to it by using the format established in Annex 2 of these Provisions. This is regardless of whether the Account holder had authorized the Domiciliation through the Provider or if the means used to authorize it was different from that used to formulate the cancellation request.

Effects of Cancellation
Article 66.- Cancellation will take effect within a period not exceeding three Banking Business Days counted from the date the Customer Bank receives the request. Once the cancellation takes effect, the Customer Bank must refrain from making charges on the Account related to said Domiciliation.

Objection of Charges
Article 67.- The Customer Bank must attend to the objection requests presented to it for unrecognized charges derived from Domiciliations by using the format established in Annex 3 of these Provisions.
Objections may be filed within a period of ninety Days counted from the last Day of the statement period in which the charge subject of the objection appears.

Admissibility of Charge Objection
Article 68.- When the Account holder objects to any charge derived from the Domiciliation service during the first sixty Days of the period indicated in the previous article, the Customer Bank must credit the claimed amount no later than the next Banking Business Day after receiving the objection, without being able to require the Account holder to perform any additional procedure.
If the objection is made between the sixty-first and the ninetieth Day of the aforementioned period, the Customer Bank must resolve on the admissibility of the claim within a maximum period of twenty Days and, in the event that the objection is found to be admissible, credit the claimed amount no later than the next Banking Business Day after the date of resolution.

Inadmissibility of Charge Objection
Article 69.- In the event that the objection to charges for Domiciliation is not admissible in accordance with what is stated in the second paragraph of article 68 of these Provisions, the Customer Bank must make available to the Account holder the original printed copy of the resolution with the signature of authorized personnel in which the arguments supporting the inadmissibility are expressed, as well as a copy of the respective supporting documents or evidence, including that provided by the Provider in question, at the branch where, if applicable, the objection was presented or where they had agreed, for such effect.
Additionally, it must send a copy of said resolution to the Account holder via email when the latter has presented the objection through the electronic page that the Customer Bank has on its Internet website or when so requested when presenting the objection.

Disclosure of Formats to Present Requests
Article 70.- The Institutions must make known the formats for the contracting requests of the Domiciliation service, its cancellation, or to make objections of charges related to said service, contained in Annexes 1, 2, and 3 of these Provisions, respectively, in their branches and on their Internet electronic pages in some section accessible to the general public, as well as through the electronic banking service they provide.
For the purposes of the aforementioned, said Institutions must transcribe textually the content of the aforementioned Annexes, being able to incorporate in them only their corporate name and/or logo.

Receipt of Requests
Article 71.- The Institutions offering the Domiciliation service must receive the requests referred to in the previous article in their branches and through the electronic banking service they offer through the Internet, as well as by other means that, if applicable, they enable during the public attention hours.

Acknowledgment of Receipt of Requests
Article 72.- The Customer Bank must acknowledge receipt of the Domiciliation, cancellation, or charge objection requests, and generate it through the same means by which said requests were presented, as well as keep a record of the receipt of said requests.

Commissions
Article 73.- The Customer Bank may not charge commissions for processing and resolving objections that are found to be admissible nor for canceling the Domiciliation.

Dispute Resolution
Article 74.- The Institutions must adhere to the “Manual for Domiciliation of Receipts of the Electronic Compensation Chamber” to resolve the disputes that may arise regarding the charges related to the Domiciliation service.

Section II
Transfer of Salaries, Pensions, and Other Labor Benefits

Transfer Requests
Article 75.- The clients, understood for the purposes of this Section, in singular or plural, as the holders of an Ordering Account and a Receiving Account, may request the Ordering Institution that each Banking Business Day on which Labor Benefits are received in the Ordering Account, transfer without cost at their expense the balance of said account to the Receiving Account.
When the funds indicated in the previous paragraph have been available in the Ordering Account no later than 15:00:00 hours, the transfer to the Receiving Account must be made on the same Banking Business Day so that they are credited on that date. In the event that the funds are available in the Ordering Account after the mentioned hour, the transfer to the Receiving Account must be made with the necessary advance so that said funds are credited no later than the opening of the next Banking Business Day. Prior to the transfer, charges may be made in the Ordering Accounts:
I. When so agreed with the clients to make the payment of credits granted to them, or
II. In the cases where the clients have authorized it through the Domiciliation service for the recurrent payment of goods, services, or credits.

Receipt of Requests
Article 76.- The Ordering Institutions must receive in all their branches during the public attention hours, the requests presented to them using the format established in Annex 4 of these Provisions. For this effect, said Institutions must make the cited format known to their clients in their branches and on their Internet page, in some section accessible to the general public, as well as through the electronic banking service they provide.
For the effect of the aforementioned, the mentioned Institutions must transcribe textually the content of the aforementioned Annex 4, being able to incorporate in it only their corporate name and/or logo.

The Ordering Institutions must comply with the respective request no later than the tenth Banking Business Day following the date of its presentation, for which they must only request that an official identification be exhibited, as well as, at the client's choice, the contract, the statement, or the debit card with the holder's name, related to the Receiving Account. In no case may the Ordering Institutions require additional documentation to the aforementioned to attend to said request.

Cancellation Requests for Transfers
Article 77.- The clients may request the Ordering Institution at any time the cancellation of the transfers of funds from the Ordering Account to the Receiving Account.
Said cancellation will take effect no later than the third Banking Business Day following that on which the Ordering Institution receives it.

Acknowledgment of Receipt of Requests
Article 78.- The requests to transfer Labor Benefits and to cancel said requests may be presented in writing in any branch of the Ordering Institution during the public attention hours.
The Ordering Institutions must keep a record of the receipt of said requests, as well as deliver to the client a copy of them acknowledging receipt with the branch stamp, the executive's signature, and the date of receipt.

Disclosure of Legends
Article 79.- The Institutions holding Ordering Accounts must disclose on their Internet page in some section accessible to the general public, as well as through easily visible posters placed in all their branches, in the months of January and July of each year, the following legend:

“You have the right to have, at no cost to you, the funds that are deposited in the account you have in this institution in which you receive your salary, pensions, and other labor benefits, transferred to the account you have at another bank. For this, you only need to deliver in any of our branches the format we have available in each of them and on our electronic page on the Internet, as well as exhibit: i) your official identification, and ii) the contract, statement, or the corresponding debit card with your printed name, of the account to which you wish your funds to be transferred.”

Likewise, on the first Banking Business Day of each week of the mentioned months, the Ordering Institutions must publish, individually or jointly, in at least two newspapers of wide national circulation, the following legend:

“As a banking client, you have the right, at no cost to you, to request that the funds from the account in which you receive your salary, pensions, and other labor benefits, be transferred to another that you hold at the bank of your choice. For such effect, the request format that you must use will be available at the branches and on the electronic page on the Internet of your bank.”

During each of the mentioned months, no more than one publication in the same newspaper must be made.

Sending of Funds
Article 80.- In order to easily identify the origin of each fund transfer, the Ordering Institution must send to the Receiving Institution a brief note that allows these to identify that the transfer is made in accordance with what is provided in article 18 of the Law for Transparency and Ordering of Financial Services, as well as the data or information that the Employer has assigned to make the deposit of the corresponding funds in the Ordering Account.
The Ordering Institutions will not be obliged to attempt to send the respective funds on more than one occasion on each of the dates of the month in question indicated in the requests referred to in article 76 of these Provisions, when the Receiving Institution has returned the respective payment instruction for any circumstance not attributable to them and, consequently, such funds cannot be credited in the Receiving Account. The Institutions may not charge the clients any amount for the sending and receiving of the transfer of the funds referred to in these Provisions.

Direct Sending of Funds to the Receiving Account
Article 81.- The Institutions offering the Payroll Service must allow the Employers to deposit Labor Benefits directly in favor of their employees in the Ordering Account or in the Receiving Account that they have designated, through the same process of electronic dispersion of funds. This is without prejudice to what is stated in the last paragraph of article 75 of these Provisions.
The amount of commissions that the Institutions, if applicable, charge the Employer for the operation described in the previous paragraph, must not differ based on the Institution that holds the account in which the funds are deposited.

Section III
Other Services

Trusts, Mandates, and Commissions
Article 82.- The Institutions, in their trust, mandate, and commission operations, must comply with what is stated in the general provisions of the Bank of Mexico in this matter.

Appraisals
Article 83.- Multiple Banking Institutions must ensure that the value of the goods is determined independently of the purposes for which the appraisal is required.
Likewise, Multiple Banking Institutions will be responsible for the precision of the appraisals practiced by the persons at their service.

Services through ATM Networks
Article 84.- The Institutions intending to offer services through ATM networks jointly with other Institutions, must do so through third parties. For this effect, they must request authorization from the Bank of Mexico.
The Institutions interested in offering services through ATM networks operated by legal entities in which said Institutions are or intend to be shareholders, must include in the respective authorization request the following information:
I. Corporate name of the Institution or Institutions intending to participate in the legal entity;
II. Amount of the investment in cash or in kind that, if applicable, each Institution is willing to contribute, as well as the percentage of its shareholding;
III. The terms and conditions under which the legal entity would pay or charge the Institutions intending to be shareholders for the services that, if applicable, are provided, as well as the description of the reference services;
IV. The clauses in which the requirements and procedures are stipulated for other Institutions to be able to participate in the legal entity, as well as the rights that, if applicable, have been reserved by the institutions that originally participated in its constitution;
V. The clauses in which the requirements and procedures that the Institutions having interest in ceasing to participate in the legal entity must comply are stipulated;
VI. The draft bylaws, and
VII. The rest of the information that the Bank of Mexico requests from them.
The Institutions intending to provide services through ATM networks operated by a third party different from the legal entity provided for in this article, must specify in their authorization request the legal nature of the third party that would operate the corresponding ATM network. In the respective request, they must indicate at least the equivalent information to that provided in fractions I to VI above. The reference request must be attached with the draft contract through which said participation is intended to be formalized, as well as any other information that the Bank of Mexico requests from them.

Authorization Requests for the Provision of Services through ATM Networks Operated by Third Parties

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Article 85.- The Bank of Mexico will resolve what is appropriate regarding the authorization request for the provision of services through ATM networks operated by third parties within a period not exceeding thirty Banking Business Days, counted from the date on which it notifies the promoting Institution that the request and the required information are complete.
In the event that the Bank of Mexico grants the respective authorization, the participating Institutions must observe the following:
I. Consider the operations that their clients make in the ATM networks, as if they had been made in their own ATMs, and
II. Request authorization from the Bank of Mexico in the event that they intend to modify the terms or conditions based on which the corresponding authorization was granted to them.

Administration and Control of Operations Related to Non-Bank Cards
Article 86.- The Institutions may provide the service of administration and control of operations related to non-bank cards issued by their clients for the acquisition of goods and services.
The Institutions must refrain from offering these services when, with the issuance of the respective cards, operations referred to in articles 2 and 103 of the Credit Institutions Law or any other operation reserved for financial entities, whether by law or in provisions emanating from it, are intended to be carried out. The Institutions providing these services must ensure that the cards do not contain on the front information related to the Institutions themselves, such as their corporate name or any other expression, symbolism, emblem, or logo that may induce error or confusion regarding the person to whom the fulfillment of the corresponding obligations can be demanded. Likewise, said cards must indicate on the back that they are non-bank cards and that their balance will not be delivered in cash.

CHAPTER IV
OPERATIONS WITH SECURITIES AND GOVERNMENT BONDS

Applicable Provisions
Article 87.- The operations with Securities and Government Bonds that Institutions carry out must be subject, in addition to what is stated in these Provisions, to the regulation of the Bank of Mexico in matters of placement, repurchase agreements, and loan of securities, among others.

Multiple Bank Title
Article 88.- The Issuing Institution of a Multiple Bank Title must establish in it its obligation to substitute, at the request of the interested party or parties, the multiple title for the documents representing the corresponding Bank Titles.

Purchase and Sale Operations
Article 89.- Institutions may carry out purchase and sale operations for their own account of:
I. Securities;
II. Unregistered commercial debt documents and capital commercial documents registered or not in the National Securities Register, as well as
III. Government Bonds.
Additionally, Institutions may carry out purchase and sale operations for third parties of Government Bonds.

Characteristics of Purchase and Sale Operations

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Article 90.- Institutions may enter into purchase and sale transactions of Securities and Government Securities without the intermediation of brokerage houses.
The price of the transactions must be denominated in the same currency or unit of account in which the Securities or Government Securities subject to the transaction are denominated.

Deposit and information to the securities depository institution

Article 91.- Institutions must keep Securities and Government Securities deposited at all times in a securities depository institution, except for UMS BONOS. Notwithstanding the foregoing, in accordance with applicable provisions, the securities depository institution will keep Government Securities in centralized deposit at the Bank of Mexico, with the exception of IPAB Securities, PIC-FARAC, and CBIC-FARAC.
To this end, Institutions must send to the depository institution of the Securities or Government Securities, on the same Banking Business Day of their execution and in the terms indicated by said institution, the information regarding the purchase and sale transactions of Securities and Government Securities that they enter into with other financial entities and with the Bank of Mexico, which are settled through said depository institution.

Documentation of transactions with the public

Article 92.- Purchase and sale transactions of Securities and Government Securities that Institutions carry out with the public must be conducted under master contracts executed in writing prior to the execution of such transactions.
Institutions must issue, on the same Banking Business Day as the execution of the transaction, a receipt by any means that leaves documentary evidence, including electronic media, of the execution of the corresponding transaction, which they must keep available for the client or send to them in case the client requests it. In said confirmation or respective receipt, the name or denomination of each of the parties, the price, and the specific characteristics of the Securities or Government Securities subject to the transaction must be established, such as: issuer; issuance code; nominal value; type of Security or Government Security, if applicable; guarantor, acceptor, or guarantor of the Securities or Government Securities.

Documentation of transactions with intermediaries

Article 93.- Institutions may instrument the purchase and sale transactions of Securities and Government Securities that they enter into between Institutions and between these and brokerage houses, investment companies, specialized investment companies for retirement funds, foreign financial entities, and institutional investors, through master contracts executed in writing prior to the execution of such transactions.
In all cases, these transactions must be confirmed on the same Banking Business Day of their execution by any means that leaves documentary evidence, including electronic media, of the execution of the corresponding transaction. When said transactions are settled through a securities depository institution, the records of the transaction in said institution will serve as documentary evidence of the confirmation, provided that such records are made on the same Banking Business Day of the execution.

Records of purchase and sale transactions

Article 94.- Institutions must make the records related to purchase and sale transactions of Securities or Government Securities that they enter into on the same Banking Business Day on which such acts are executed.
Likewise, Institutions will be responsible for ensuring that the transactions they enter into and the documents supporting them strictly comply with the provisions issued by the Bank of Mexico, as well as with any other applicable provisions.

Transfers in securities depository institutions

Article 95.- All transactions that Institutions enter into with Securities or Government Securities for their own account or for third parties must be carried out through transfers made by the securities depository institution, including transfers between third-party positions.
Said transfers will be evidenced by the charges and credits recorded in the account statements that the aforementioned depository institution delivers to the Institutions.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section) Settlement date of transactions

Article 96.- In transactions with Securities and Government Securities that Institutions enter into for their own account or for third parties, the transfer of the Securities or Government Securities and the respective funds must be made on the same date, which may not be later than the fourth Banking Business Day immediately following the date of execution of the corresponding transaction.
The term applicable to transactions carried out in primary placement with the issuer of the Securities or Government Securities may be greater than four Banking Business Days.
In the event that the settlement date is later than the fourth Banking Business Day from its execution date, Institutions must comply with the general provisions of the Bank of Mexico regarding derivative transactions.

Custody and administration service

Article 97.- Institutions may provide both residents in the country and abroad the custody and administration service of Securities and Government Securities prior to the execution of the corresponding title deposit in administration contract.
The title deposit in administration contract must specify the means by which the depositor may request the Institution to transfer the deposited Securities and Government Securities.

Transfer

Article 98.- The Institution that has entered into the contract referred to in the previous article must transfer to whomever the depositor indicates, the deposited Securities and Government Securities.

Interest calculations and payment

Article 99.- In the execution of transactions with Securities and Government Securities, the calculations carried out must consider each calendar year as having three hundred sixty Days and the number of Days actually elapsed.
The interest that, if applicable, the depository receives for the Securities or Government Securities it safeguards, must be paid to the persons who, at the close of operations on the Banking Business Day immediately preceding the maturity of each interest period, appear as holders thereof in the depository's records.

Prohibitions

Article 100.- Institutions must abstain from entering into purchases and sales of Securities and Government Securities for their own account when the purpose is to artificially modify the figures showing the magnitude of their operations.
Additionally, Institutions must abstain from entering into purchases and sales of Securities for their own account when:
I. The object is directly or indirectly the advance payment of liabilities owed by Institutions, such as entering into agreements whereby Institutions obligate themselves to buy Securities owed by other Institutions, or
II. They imply the acquisition of Securities issued, accepted, guaranteed, or guaranteed by the acquiring Institution, as well as subordinated obligations issued by other Institutions or controlling companies.

CHAPTER V
FOREIGN CURRENCY AND PRECIOUS METALS TRANSACTIONS, AS WELL AS DERIVATIVE TRANSACTIONS

Purchase and sale and swap

Article 101.- Institutions may enter into purchase and sale transactions of Foreign Currency against national currency or against other Foreign Currencies. Additionally, Multiple Banking Institutions may enter into purchase, sale, and swap transactions of Precious Metals.
The purchase and sale transactions of Foreign Currency that Institutions enter into, as well as the purchase and sale transactions of Precious Metals that Multiple Banking Institutions enter into, whose settlement date is later than the fourth International Banking Business Day from their execution date, will be subject to the general provisions of the Bank of Mexico regarding derivative transactions. Institutions may not charge commissions for the aforementioned transactions they enter into.

Information to the public

Article 102.- Institutions must inform the public of the transactions they are willing to carry out in accordance with the previous article.
Likewise, Institutions will make known the exchange rates or maximum selling and minimum buying prices at which they are willing to carry out the aforementioned transactions through signs, blackboards, or boards that prominently display the respective quotes or prices as appropriate next to the windows or counters where they carry out their operations, without prejudice to the fact that exchange rates or prices may also be displayed in other places within the aforementioned premises. The transactions carried out must be executed at exchange rates or prices equal to or more favorable to the public than those announced. This, without prejudice to the fact that in transactions with Precious Metals in which Multiple Banking Institutions act as buyers, they may apply discounts to the cited prices due to the quality of the Precious Metals subject to the transaction.

Documentation, receipts, and records

Article 103.- Purchase and sale transactions of Foreign Currency and Precious Metals that Institutions carry out with their clients, including those entered into with national and foreign financial entities, may be documented under master contracts executed in writing prior to the execution of any of these transactions.
Institutions must issue a confirmation of the transaction they carry out on the same Day of its execution, by any means that leaves written evidence, including electronic media. Regarding clients other than the entities mentioned in the previous paragraph, Institutions must issue a receipt that must be delivered upon concluding the transaction when the transaction is carried out at the window and, when carried out in any other manner, they must also keep said receipt available for the client or send it to them in case the client requests it. Likewise, in all cases, Institutions must make the corresponding accounting records of the transactions they enter into on the same Day of their execution.

Derivative transactions

Article 104.- Institutions, when carrying out derivative transactions, must observe the provisions of the Bank of Mexico on the matter.

CHAPTER VI
BRANCHES ABROAD

Applicable provisions

Article 105.- Branches Abroad must carry out their operations in accordance with what is provided in these Provisions and in the rest of the Bank of Mexico's regulation, as well as in the laws and administrative rules of the places where they operate, abstaining from carrying out operations prohibited by the Credit Institutions Law and by the provisions emanating from it.

Documentation

Article 106.- For the documentation of their operations, Branches Abroad must comply with the following:
I. In the documents through which passive operations are formalized, it must be indicated that they are issued by the Branch Abroad.
II. The documents through which acceptances derived from foreign trade transactions drawn against them for a term not exceeding three hundred sixty Days for subsequent placement in foreign markets are discounted, must satisfy the legal and regulatory requirements applicable in the aforementioned markets, as well as the sound practices and current banking usages in them.

Prohibition of advertising

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Article 107.- Institutions will abstain from carrying out any kind of advertising related to the resource collection operations of residents in Mexico that are practiced by their Branches Abroad.

CHAPTER VII
INFORMATION

Information to the Bank of Mexico

Article 108.- Institutions must provide to the General Directorate of Affairs of the Financial System, the General Directorate of Central Banking Operations, the General Directorate of Strategy, Risks and Payment Systems, as well as to the Directorate of Information of the Financial System of the Bank of Mexico, the information that, within the scope of their competence, said administrative units require from them.
The aforementioned information must be sent in the form and terms that said administrative units make known to them.

Accounting and sectorization information

Article 109.- Institutions must provide to the Directorate of Information of the Financial System of the Bank of Mexico the information related to the report called "Annex of the Minimum Catalog" (ACM) within the first eight Banking Business Days of each month, in accordance with the form and instruction that said Directorate, in coordination with the Directorate of Macroeconomic Analysis of the Bank of Mexico, makes known to them for the presentation of end-of-month balances.
This information will include:
I. The accounting concepts that detail transactions of an active, passive, capital, results, and order nature, as well as other concepts that describe an additional attribute on the referred transactions, and
II. The classification by institutional sectors of the economy corresponding to the set of aforementioned accounting concepts. For this purpose, sectorization refers to the user of banking services identified according to the category corresponding to it as an institutional entity in the economic activity, which is specified in the form itself.

Delivery of accounting and sectorization information

Article 110.- The information indicated in the previous article must be presented for the consolidated Institution and, separately, for its Branches Abroad.
Institutions must transmit the information indicated in the previous article in the form and terms that the Directorate of Information of the Financial System makes known to them.
Institutions must provide to the Directorate of Information of the Financial System, as well as to the Directorate of Macroeconomic Analysis, in the form that said administrative units make known to them, the name of the person or persons responsible for the information with which the Bank of Mexico can establish contact.

Reports on the foreign exchange, metals, and Government Securities market

Article 111.- Institutions must inform daily no later than 9:00:00 hours to the Sub-Manager of National Exchanges of the Bank of Mexico, in the form it determines, their initial position in Foreign Currency. Likewise, they must report to said Sub-Manager, in the form, with the detail and with the intervals that it indicates, all purchases and sales of Foreign Currency against national currency carried out for each value date.
Additionally, each Banking Business Day, Institutions must provide to the Management of Information and Analysis of Central Banking Operations of the Bank of Mexico, through the SIAC-BANXICO System, the information related to the holdings they maintain for third parties of both Government Securities and BREMS, classified by sector. This, understanding that the information related to the holdings of securities for third parties of each Institution must be kept in separate accounts with respect to residents in national territory and abroad.

Reprocessing expenses

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012

Article 112.- The expenses incurred by the Bank of Mexico due to the reprocessing of information and the elaboration of new computations, derived from errors or lack of access to information, attributable to Institutions, may be charged to them. This, without prejudice to the sanctions that may be applicable.
The fact of carrying out passive operations, as well as with Foreign Currency and Precious Metals, authorizes the Bank of Mexico to charge in the Single Account of the Institution in question the amount of the expenses that, if applicable, correspond according to the previous paragraph.

TITLE THREE
TRANSACTIONS WITH THE BANK OF MEXICO

CHAPTER I
DEPOSITS AT THE BANK OF MEXICO

Section I
In national currency (Single Account)

Applicable regime

Article 113.- Institutions must open and maintain in the Bank of Mexico a Single Account, which may be credited or debited by transactions executed by Institutions with the Bank of Mexico or authorized by it. The credit balance in the Single Account will not accrue interest.
In the event that on any Day an Institution has a balance less than zero, the Bank of Mexico will charge to the Single Account in question on the next Banking Business Day after the one in which such situation occurs, an amount equal to the result of applying to the negative balance, the rate obtained by multiplying by two the weighted banking funding rate made known by the Bank of Mexico on the Day in which the aforementioned overdraft occurred and dividing the obtained product by three hundred sixty. For the case of Days that are not Banking Business Days, the rate that the Bank of Mexico has made known on the immediately preceding Banking Business Day will be used.

Contract

Article 114.- Institutions must enter into a contract with the Bank of Mexico that documents the Single Account operation, for which they must present to the Operations Instrumentation Management, certified and simple copies of the deeds in which the powers to exercise acts of dominion of the person intending to sign it are recorded, as well as a simple copy of their official identification.
The presentation of the documentation referred to in the previous paragraph must be made at least ten Banking Business Days in advance of the date on which they intend for the referred contract to enter into force. In any case, the Institution in question must sign the corresponding contract at least five Banking Business Days in advance of said date.

Guaranteed overdrafts

Article 115.- Institutions may incur overdrafts in the Single Account up to the amount guaranteed with:
I. Monetary regulation deposits;
II. Time deposits derived from Deposit Auctions, and
III. Deposits in the Dollar Account referred to in Article 120 of these Provisions that have been granted as guarantee to the Bank of Mexico for this purpose.
Additionally, Multiple Banking Institutions may incur overdrafts up to the amount guaranteed with time deposits entered into in accordance with the procedure for the determination of the TIIE.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Regarding guarantees constituted with deposits in the Dollar Account referred to in fraction III of the first paragraph of this article, Institutions must request that, for such purposes, they be segregated into the guarantee deposit account held by the Bank of Mexico, through SIAC-BANXICO during the hours of 08:30:00 to 16:30:00 or through any other electronic, computing, or telecommunications medium authorized for such purpose by the Central Bank itself, or in requests prepared in accordance with Annex 5 of these Provisions, duly signed by representatives of the Institution who have the authority to perform acts of dominion.

Institutions may withdraw the Dollar deposits given as guarantee when they are not guaranteeing any obligation owed by them to the Bank of Mexico. For this purpose, Institutions must request the respective withdrawal through SIAC-BANXICO between 8:30:00 and 16:30:00 hours. The released Dollars will be credited to their Dollar Account on the next Banking Business Day following the request.

The value of the guarantee will be determined by applying the exchange rate published by the Bank of Mexico in the Official Gazette of the Federation on the date of its constitution, minus the discount factor to be made known by the Bank of Mexico through its site on the financial network.

Unsecured Overdrafts

Article 116.- Notwithstanding the provisions of the previous article, the Bank of Mexico will allow Institutions to incur overdrafts in the Single Account not covered by guarantees, resulting from charges arising from the settlement of:

I. Amounts that must be deposited in accordance with the procedure for the determination of the TIIE, in the case of Multiple Banking Institutions or Deposit Auctions, and

II. Any other obligation owed by them to the Bank of Mexico.

Actions for Repeatedly Incurring Unsecured Overdrafts

Article 117.- The Bank of Mexico may establish additional actions to those provided in these Provisions regarding those Institutions that repeatedly incur overdrafts in their Single Accounts that are not secured. This is because such overdrafts are not considered sound banking practices or usages.

Operations with CLS Bank International

Article 118.- Institutions intending to conduct operations with CLS Bank International must authorize the Bank of Mexico so that, in the event that some contingency arises in the SPEI that prevents them from sending transfer orders in favor of the aforementioned CLS Bank International or receiving payments from this entity, it shall proceed as follows:

I. Debit the Single Account held for them up to the amount of the payments they must settle with said entity, and

II. Credit the aforementioned Single Account with the amounts sent to them by CLS Bank International.

For the purposes of the provisions of this article, Institutions must grant a mandate in favor of the Bank of Mexico in accordance with Annex 6 of these Provisions, signed by those who have the authority to perform acts of dominion, for which they must present to the Management of Operation and Business Continuity of the Payment Systems, certified and simple copies of the deeds in which the authority of the person intending to sign it is recorded, as well as a simple copy of their official identification.

The submission of the documentation referred to in the previous paragraph must be made at least ten Banking Business Days in advance of the date on which they intend to start operations with CLS Bank International.

Statements of Account

Article 119.- The Bank of Mexico will make available daily to Institutions, through SIAC-BANXICO, the statements of account of the Deposits referred to in this Section and the following Section.

The concept of the debit and credit movements recorded in the statements of account will be identified primarily by numerical or alphabetical keys printed on the statements of account themselves.

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012

Within ten Banking Business Days following the statement of account cutoff date, Institutions may submit a written document to the Bank of Mexico to object to the amounts for which charges or credits have been made in their accounts. If this period elapses without the corresponding Institutions having made any objection, the statements of account, the documents, and the concepts appearing in the accounting of the Bank of Mexico will constitute full proof.

In the event that said Institutions object to some charges or credits within the cited period, those that have not been objected to will constitute full proof. This is without prejudice to the Bank of Mexico resolving what is appropriate regarding the objections raised against it.

Section II
In Dollars (Dollar Account)

Applicable Regime

Article 120.- Institutions must open and maintain in the Bank of Mexico a Dollar Account, which may be credited and debited as follows:

I. Credits may be made through:

a) Receipts of Dollars, and

b) Transfers received from other Institutions.

II. Debits may be made through:

a) Transfers of Dollars ordered by the Institution itself, and

b) Transfers that the Institution instructs in favor of other Institutions.

Overdrafts in this account will not be accepted.

Interest

Article 121.- The Bank of Mexico will pay interest monthly on the daily balance that Institutions maintain in the Dollar Account at the annual interest rate resulting from subtracting one-eighth of a percentage point from the average daily interest rate that the Bank of Mexico obtains from its investments in international markets in deposits denominated in "overnight" Dollars in the corresponding month, or zero, whichever is greater.

The amount of interest corresponding to each Day will be determined by dividing the applicable annual interest rate by three hundred sixty and multiplying the result by the balance that Institutions maintain in the referred account on the Day in question.

On the first Banking Business Day of each month, the Bank of Mexico will credit the Dollar Account with the amount of interest accrued in the immediately preceding month.

Institutions may at all times consult the available balance of their Dollar Account through SIAC-BANXICO.

CHAPTER II
OPERATIONS IN ACCOUNTS AT THE BANK OF MEXICO

Section I
Operations in National Currency

Transfer of Funds

Article 122.- Institutions may transfer resources from their Single Account to other account holders at the Bank of Mexico or to the Central Bank itself, through fund transfer orders.

Fund transfer orders relating to operations conducted between Institutions, as well as those conducted between them and the Bank of Mexico, must be instructed through SIAC-BANXICO during the hours of 00:00:00 to 16:30:00, and may have a value date of the same Banking Business Day or the next Banking Business Day, as indicated by the Institution making the transfer.

The Bank of Mexico may determine a different schedule than that indicated in the previous paragraph, which will be made known to Institutions through the electronic or telecommunications medium established by the Bank of Mexico itself for such purpose.

Interbank Transaction Schedule

Article 123.- The Bank of Mexico will execute fund transfer orders with a value date of the same Banking Business Day between the Single Accounts held for Institutions between 17:55:00 and 18:20:00 hours, provided that such transfers originate from credit operations conducted exclusively and directly between the Institutions themselves.

The Bank of Mexico may determine a different schedule than that indicated, which will be made known to Institutions through the electronic or telecommunications medium established by the Bank of Mexico itself for such purpose.

Institutions must inform the Management of National Operations of the Bank of Mexico of the interest rates and terms at which the operations provided for in the previous paragraph are carried out, in the form and terms indicated by said Management.

Operations of the Bank of Mexico with Institutions

Article 124.- The operations that the Bank of Mexico carries out with Institutions will be carried out through the debit of their Single Accounts, regardless of whether it acts on its own behalf or as a trustee. This is unless the Central Bank itself establishes otherwise through general provisions.

Request

Article 125.- The operations that Institutions intend to carry out against their Single Account or their Dollar Account must be requested through SIAC-BANXICO during the corresponding hours, or through the medium that the Bank of Mexico determines at the appropriate time for such purpose.

Section II
Operations in Dollars

Receipt of Dollars

Article 126.- Institutions may request the Bank of Mexico for the Receipt of Dollars, for which they must arrange the operation telephonically with the Sub-Management of National Exchanges of the Bank of Mexico during the hours of 09:00:00 to 13:00:00. Receipts of Dollars may be arranged with a value date of one or two Banking Business Days subsequent to the date of arrangement.

Institutions must deposit the agreed Dollars on the value date at the correspondent indicated by the Bank of Mexico.

On the said value date and once the Bank of Mexico has confirmation of having received the Dollars, it will credit the amount of the operation to the Dollar Account of the Institution in question.

Institutions must confirm the agreed Receipt of Dollars requests, before 17:00:00 hours on the day of the arrangement, through a SWIFT message or any other electronic, computing, or telecommunications medium authorized for such purpose by the Central Bank itself or by letter addressed to the Office of Banking Services for Account Holders with signatures previously registered at the Bank of Mexico.

Non-compliance with Receipts

Article 127.- When, as a result of a request for receipt of Dollars, there is a delay, error, or omission by the Institution or its financial agents, the consequence of which is that the Dollars are not delivered promptly to the accounts that correspondent banks hold for the Bank of Mexico, the latter will not make the corresponding credits in the Dollar Account held for them. When the Institution regularizes the non-compliance, the Bank of Mexico will credit the amount of the operation in question to the Dollar Account.

In the event that the non-compliance persists after three International Banking Business Days, the Bank of Mexico may cancel the operation or renegotiate it.

The Bank of Mexico will make the corresponding debit in the Dollar Account for the amount of the cost incurred as a result of the non-compliance in question.

Transfers

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012

Article 128.- Institutions may instruct, with a value date of the same Banking Business Day, the transfer of resources from their Dollar Account to the Dollar Accounts of other Institutions at the Bank of Mexico through SIAC-BANXICO during the hours of 08:30:00 to 16:30:00.

In the event that an Institution orders a fund transfer from its Dollar Account to the Dollar Account of another Institution and on the corresponding value date does not have sufficient funds for this purpose, the Bank of Mexico will consider the operation in question cancelled.

Transfers

Article 129.- Institutions may request the Bank of Mexico through SIAC-BANXICO with one or two Banking Business Days in advance of the value date of the operation in question, the sending of Dollars to correspondents that they have abroad, through a debit in their Dollar Account. Transfers that are required with one Banking Business Day in advance may be requested between 08:30:00 and 13:00:00 hours. On the other hand, transfers that are required with two Banking Business Days in advance may be requested between 08:30:00 and 14:30:00 hours.

The Bank of Mexico will segregate the funds subject to the operation no later than 15:00:00 hours on the Banking Business Day immediately preceding the value date of the operation. In the event that on said Banking Business Day there is insufficient balance in the corresponding Dollar Account to cover the operation, the Bank of Mexico will consider it cancelled.

The account data to carry out the Dollar transfers referred to in this article must be made known to the Bank of Mexico at least five Banking Business Days in advance of the date on which they intend to request the transfer.

Commissions

Article 130.- The Bank of Mexico will charge Institutions a commission of 0.05 per thousand on the Dollar amount for each Dollar transfer. This is understood to mean that the commission cannot be less than ten nor greater than fifty Dollars. The commissions will be charged to the Institution's Single Account on the value date of the operation, at the exchange rate published by the Bank of Mexico in the Official Gazette of the Federation on the Banking Business Day immediately preceding said date.

CHAPTER III
REPO OPERATIONS TO PROVIDE LIQUIDITY TO PAYMENT SYSTEMS

Section I
Repos between the Bank of Mexico and Institutions

Characteristics of Repos

Article 131.- Institutions may conduct repos with the Bank of Mexico to obtain liquidity with the following characteristics:

I. Repo Seller: The Bank of Mexico;

II. Repo Buyer: The corresponding Institution;

III. Term: The period between the moment of celebration of the repo and the closing of operations for Institutions of the RSP Module of the same Day, without possibility of extension. The opening and closing hours of the referred module are provided for in the RSP Manual;

IV. Securities subject to the repo: a) BONDES; b) IPAB Securities; c) BREMS; d) CETES excluding SPECIAL CETES and e) Segregated Coupons, which are the property of the corresponding Institution;

V. Price: The amount of money that the Bank of Mexico delivers to the repo buyer by reason of the repo, which will be equivalent to the value of the securities subject to the repo determined in accordance with the procedure described in Annex 7 of these Provisions, minus the discount that the Bank of Mexico establishes depending on the type of security in question, through the formula and parameters that it makes known through the RSP Manual and the RSP Module, respectively, and

VI. Premium: That which the Bank of Mexico determines through the RSP Module.

Contract for the Celebration of Repos

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Article 132.- To be able to carry out the repos referred to in this Chapter, interested Institutions must celebrate a contract with the Bank of Mexico, for which they must present to the Management of Operations Instrumentation certified and simple copies of the deed in which the authority to perform acts of dominion of the person intending to sign it is recorded, as well as a simple copy of their official identification. Likewise, they must present to the Management of Operation and Business Continuity of the Payment Systems a mandate in favor of the Bank of Mexico in accordance with Annex 8 of these Provisions, signed by whoever has the aforementioned authority.

The submission of the documentation referred to in the previous paragraph must be made at least ten Banking Business Days in advance of the date on which they intend to start carrying out the aforementioned repos. In any case, the corresponding contract must be signed at least five Banking Business Days in advance of said date.

The aforementioned Institutions must send a copy of the aforementioned mandate to the securities depository institution that corresponds.

Request to Conduct Repos

Article 133.- Institutions wishing to conduct repos must request them from the Bank of Mexico through the RSP Module as established in the RSP Manual, indicating the number and characteristics of the securities they intend to repo, without the prohibition of conducting repo operations with the character of repo buyers on securities with a fixed yield rate and maturity greater than one year, as well as on securities with a periodically adjustable rate whose term, between the dates on which the adjustment is made, is greater than one calendar year, provided for in the repo rules of the Bank of Mexico, being applicable to said operations.

The Bank of Mexico, through the RSP Module, will send the necessary instructions to an institution for the deposit of securities so that, in accordance with its internal regulations, it carries out the necessary transfers of securities to comply with the requested repos.

Repo buyers must inform the Bank of Mexico through the referred Module if the resources coming from the repo must be credited to their Single Account held for them or to the account they have in the corresponding securities depository institution.

Maximum Amount of Repos

Article 134.- The amount of repos that each Institution may conduct with the Bank of Mexico must not exceed the result of multiplying by 4.5 the amount obtained in accordance with what is provided in Annex 9 of these Provisions, minus the total amount of their monetary regulation deposits.

In the event that this difference is less than or equal to zero, the Institution cannot carry out repos through the RSP Module.

The referred limit may only be exceeded by:

I. Adjustments in the price and premium that, if any, are made regarding automatic renewals of operations in accordance with article 136 of these Provisions;

II. Repos that are considered abandoned by brokerage houses in favor of the Institution that granted it the authorization provided for in article 141 of these Provisions, and

III. Other operations that, in accordance with applicable provisions, the Bank of Mexico orders through the RSP Module on behalf of the respective Institution.

Settlement of Repos

Article 135.- Institutions may settle repos in total or partial at any time during the Day within the operating hours of the RSP Module in accordance with what is established in the RSP Manual. For this purpose, they must indicate to the Bank of Mexico if the resources necessary to carry out the settlement in question are deposited in the account they have in the referred securities depository institution or in their Single Account, as well as the number and characteristics of the securities subject to repo that correspond.

Repos carried out with such securities will be settled in the order in which they are arranged until covering the requested number of securities. Regarding this, the Bank of Mexico will send to the securities depository institution the instructions to make the transfers of securities and, if applicable, of cash corresponding.

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012

When, at the close of the RSP Module, there are operations that have not been settled or have only been partially settled, the Bank of Mexico shall consider them abandoned or automatically renew them for the remaining amount, in accordance with the provisions of the following article.

The interest that, where applicable, the titles subject to the repo pay during the term of the operations in the event of automatic renewal shall be credited by the Bank of Mexico to the Unique Account of the reporting institution on the day they are paid by the issuer.

Abandonment and Renewal of Repos

Article 136.- In the event that the reporting institution does not settle the repo at maturity by delivering the corresponding price and premium, it shall be considered abandoned or automatically renewed, novating the obligations arising from said operation, in accordance with the following:

I. Operations shall be considered abandoned in which the titles subject to the repo mature on the next Banking Business Day, with said titles and their financial accessories remaining at the disposal of the Bank of Mexico.

II. Operations other than those indicated in the preceding subsection shall be automatically renewed. Such automatic renewal shall begin at the close of operations for Institutions in the RSP Module on the same Day they were celebrated and shall mature at the close of operations of said RSP Module on the next Banking Business Day.

The price of the new operations shall be determined in accordance with the value of the titles subject to the repo at the close of the RSP Module on the Banking Business Day that begins the renewal, which corresponds to the value that said titles will have at the opening of said module on the aforementioned next Banking Business Day. The premium shall be that determined by the Bank of Mexico through the RSP Module.

The titles subject to the repo and the cash corresponding to the price and premium transferred in the repos subject to renewal shall be taken into account for the new operations, and it shall only be necessary for the reporting institution to deliver to the Bank of Mexico, or for the latter to deliver to the former, the amounts that, where applicable, correspond to them in accordance with the price and premium of the new repos.

In the event of automatic renewals, the respective operation shall count towards the limit applicable to the Institution, determined in accordance with the provisions of Article 134 of these Provisions, from the opening of the RSP Module on the Banking Business Day following that in which the renewal begins.

Repeated renewal of repos shall not be considered a sound market practice; therefore, when the Bank of Mexico detects that repos of an Institution have been automatically renewed for the consecutive number of Days that the Bank of Mexico itself shall make known through the RSP Module, it shall not renew said repos and shall declare them abandoned at their maturity.

Determination of Charges for Automatic Renewals

Article 137.- In the event of automatic renewals, the Bank of Mexico shall charge the reporting institution for each of the different issuances of titles that are reported, the amount that it shall make known through the RSP Module.

Likewise, if applicable, it shall charge the reporting institution the amount resulting from multiplying the base amount determined in accordance with the following paragraphs, by the product obtained by multiplying the rate applied to negative balances in the Unique Account in accordance with Article 113 of these Provisions, by the term of the repo, and dividing it by three hundred sixty.

The base amount shall be the result of subtracting the positive balance of the Unique Account at close from the amount of the renewed repos. If the result is zero or negative, the charge provided for herein shall not apply.

In the event that the balance in the Unique Account at close is negative, the base amount shall be the amount of the renewed repos.

Execution of Charges and Credits

Article 138.- The amounts resulting in accordance with subsection II of Article 136 of these Provisions, as well as those resulting in accordance with the provisions of the preceding article, shall be charged or credited by the Bank of Mexico, as applicable, to the Unique Account held for the reporting institution at the opening of the SIAC-BANXICO on the next Banking Business Day following the maturity of the repo subject to renewal.

The Bank of Mexico shall allow Institutions to incur overdrafts in their Unique Accounts not covered by guarantees arising from the charges referred to in this article.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Section II
Repos between Institutions and Brokerage Houses with Resources Derived from Repos between the Bank of Mexico and the Institutions

Additional Limits to Institutions for the Celebration of Repos with Brokerage Houses

Article 139.- Institutions shall have an additional limit to that indicated in the preceding Article 134 for celebrating repos with brokerage houses, which may not exceed the result of multiplying by 1.4 the amount obtained in accordance with the provisions of Annex 9 of these Provisions.

Characteristics of the Repos

Article 140.- In the respective repos, Institutions shall act as reporting institutions and brokerage houses as reporting parties. These operations shall be instrumented through the master contracts agreed upon by the parties, but in all cases, Institutions must establish characteristics identical to the repos celebrated between such Institutions as reporting parties and the Bank of Mexico as reporting institution in terms of Section I of this Chapter, and both repos must be registered successively in the RSP Module.

Institutions shall be responsible for ensuring that both the operations they celebrate with brokerage houses and the contracts they use strictly adhere to what is indicated in this article and to the other applicable provisions.

Limits Applicable to Brokerage Houses

Article 141.- Institutions wishing to celebrate repos with brokerage houses must notify the Bank of Mexico through the RSP Module of the limit up to which they authorize the celebration of such repos for each of the brokerage houses in question.

The sum of the limits referred to in the preceding paragraph, granted by Institutions to the same brokerage house, and the total amount of the repos referred to in the second paragraph of the following article, contracted by the same brokerage house, may not exceed five times the global capital of said brokerage house.

Institutions may reduce or cancel the limit authorized to brokerage houses at any time within the operating hours of the RSP Module. Without prejudice to the foregoing, Institutions shall be responsible for the compliance of repos celebrated by brokerage houses that they have authorized to act on their behalf during the validity of such authorization.

Request to Execute Repos on Behalf of Institutions

Article 142.- Based on the limits indicated in the preceding article, Institutions may request the Bank of Mexico, through authorized brokerage houses acting on their behalf, to celebrate repos within the hours and terms provided in the RSP Manual, without said repos being subject to the prohibition of executing repo operations with the character of reporting parties on securities with a fixed yield rate and maturity term greater than one year, as well as on securities with periodically adjustable rates whose term, between the dates on which the adjustment is made, is greater than one calendar year, as provided in the Bank of Mexico's repo rules.

If the request is deemed appropriate, two repos shall be registered in the RSP Module, the first between the Central Bank acting as reporting institution and the Institution acting as reporting party, and the second between the Institution itself acting in this case as reporting institution and the brokerage house in question acting as reporting party.

The reporting Institution, through the reporting brokerage house acting on its behalf, must inform the Bank of Mexico of the account into which the latter must credit the price of the repo it celebrates with the Institution, which may be credited to the account held by the Central Bank itself for the brokerage house or to the account held by the institution for the deposit of securities.

To this end, the Bank of Mexico shall make the respective records and send the necessary instructions to the institution for the deposit of securities to effect the transfers of securities and cash, where applicable.

(Fifth Section) OFFICIAL GAZETTE Friday, March 2, 2012

Settlement of the Repos

Article 143.- Institutions, through the brokerage houses representing them, may request the Bank of Mexico at any time within the operating hours for brokerage houses of the RSP Module and in accordance with what is established in the RSP Manual, the settlement of the repos corresponding to them.

For such purposes, they must indicate to the Bank of Mexico whether the resources necessary to carry out the settlement in question are deposited in the account that said brokerage houses have in the institution for the deposit of securities or in the account that the Bank of Mexico itself holds for them, as well as the number and characteristics of the titles subject to the respective repos and the name of the Institution to which each operation corresponds in its character as reporting institution.

The repos executed with such titles shall be settled in whole or in part in the order in which they are contracted until covering the number of titles requested.

The Bank of Mexico shall send the institution for the deposit of securities the necessary instructions for the transfers of securities and, where applicable, the corresponding cash to be carried out.

Abandonment of the Repos

Article 144.- When, at the close of operations for brokerage houses of the RSP Module, they maintain repos celebrated with Institutions without settlement, they shall be considered abandoned in favor of said Institutions.

In such a case, the respective Institutions may settle the repos executed with the Bank of Mexico on said titles subject to the repo before the close of operations for Institutions of the RSP Module and, if not, the repos shall be considered abandoned or automatically renewed at their expense, as applicable, in terms of what is indicated in Article 136 of these Provisions.

Section III
Procedure to Follow in Case of Insufficient Resources of Institutions to Settle the Amount of Government Securities

Settlement of the Amount of Government Securities

Article 145.- In the event that an Institution does not have sufficient resources to settle the amount of Government Securities that:

I. Have been assigned to it in the primary market in terms of the “Rules for the Auctions for the Placement of Government Securities and IPAB Securities” or the “Rules for the Celebration of Syndicated Auctions of Government Securities”;

II. It is obliged to receive derived from operations celebrated in terms of the “Rules for the Auctions of Monetary Regulation Bonds and Government Securities Carried Out by the Bank of Mexico”, or

III. Have been sold to it by the exercise of the purchase right when operating as market makers on such values in terms of what is provided in the provisions of the Secretariat of Finance and Public Credit.

The Bank of Mexico may carry out the following procedure:

I. Send instructions through the SAGAPL to contract a repo on behalf of the Institution for the missing amount;

II. Make a charge in the Unique Account of the Institution for the amount resulting from the difference between the amount in which the titles subject to the repo were assigned and the price of the repo, potentially incurring overdrafts not covered by guarantees in accordance with Article 116 of these Provisions;

III. Maintain the assigned Government Securities in its character as reporting institution, and

IV. Use the amount of the charge to the Unique Account mentioned above, as well as the resources corresponding to the price of the repo, to settle the operation in question.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

In order for the institution to contract the repo referred to in subsection I of this article, it must send to the Management of Operations Management, a mandate in favor of the Bank of Mexico in terms of the model attached as Annex 10 of these Provisions, signed by whoever has the authority to exercise acts of domain, accompanied by certified and simple copies of the deed in which their powers are recorded, as well as a simple copy of their official identification. The presentation of the aforementioned documentation must be made at least ten Banking Business Days in advance of the date on which they intend to begin carrying out the aforementioned repos. The Institution in question must send a copy of the aforementioned mandate to the corresponding institution for the deposit of securities.

CHAPTER IV
DETERMINATION OF THE INTERBANK EQUILIBRIUM INTEREST RATE IN NATIONAL CURRENCY

Section I
Procedure for the Determination of the TIIE

Request for Participation

Article 146.- Multiple Banking Institutions interested in participating in the determination of the TIIE must manifest this through a written address to the Management of National Operations of the Bank of Mexico, where they indicate the names of the persons authorized to receive information on the respective procedure. In said communication, they must show the signature knowledge granted by the Bank of Mexico.

The presentation of said communication shall imply the acceptance of the Multiple Banking Institution in question to submit to all and each of the provisions contained in this Chapter.

The Bank of Mexico shall publish in the Official Gazette of the Federation the name of the participating Multiple Banking Institutions.

Information for the Presentation of Quotes

Article 147.- For the purpose of the presentation of quotes, the Bank of Mexico shall inform Multiple Banking Institutions of the Banking Business Days on which it will receive quotes of interest rates, the terms and amounts for which they may present them, as well as the differential referred to in Annex 11 of these Provisions. Additionally, the Bank of Mexico may indicate the minimum and maximum limits to said amounts within which quotes may be presented in multiples of a base amount that the Bank of Mexico itself shall indicate for this purpose, to which it shall be called base amount.

The Bank of Mexico shall previously hear the opinion of Multiple Banking Institutions to determine the terms, amounts, and the differential referred to in the preceding paragraph.

In the event that the maturity date of the term for which quotes are presented does not correspond to a Banking Business Day, said term shall be adjusted to the nearest preceding or subsequent Banking Business Day, giving preference to the preceding one in case of equality.

Procedure for the Presentation of Quotes

Article 148.- Quotes must be presented to the Management of National Operations of the Bank of Mexico no later than 12:00:00 hours on the Banking Business Day corresponding to it. For this purpose, the Bank of Mexico shall request at least six Multiple Banking Institutions chosen randomly to present, within the established schedule, quotes for each of the terms called for the Banking Business Day in question.

The designated Multiple Banking Institutions may only present one quote for each combination of term and amount that the Bank of Mexico has requested of them in accordance with the preceding paragraph. The quoted interest rates must be expressed in percentage terms rounded to four decimal places.

Means for the Presentation of Quotes

Article 149.- Quotes may be presented through the SIAC-BANXICO or through any other electronic, computing, or telecommunication medium authorized for this purpose by the Bank of Mexico. The access, identification, and, where applicable, operation keys established for the use of electronic, computing, or telecommunication media shall substitute the autograph signature with one of an electronic character, so that documentary or technical records where they appear shall produce the same effects that the laws grant to documents signed by the parties and, consequently, shall have equal probative value.

(Fifth Section) OFFICIAL GAZETTE Friday, March 2, 2012

In the event of failures of the SIAC-BANXICO, quotes may be presented via telephone or through electronic or computing media, and must be confirmed in writing no later than 17:00:00 hours of the same Banking Business Day using the model attached as Annex 12 of these Provisions in a closed envelope accompanied by a letter of presentation. Both documents must be duly signed by the same representatives authorized by the Multiple Banking Institutions, and the letter must show the signature knowledge granted by the Bank of Mexico, so the signatures must be registered prior to the presentation of said letter.

The quotes presented shall have the character of mandatory and irrevocable and shall produce the widest effects that correspond in law.

The Bank of Mexico shall invalidate quotes that do not adhere to what is provided in this Chapter, are not clearly legible, have erasures, corrections, or in any way are incorrect.

Determination and Dissemination of the TIIE

Article 150.- The TIIE for each of the terms and amounts that the Bank of Mexico has informed Multiple Banking Institutions in terms of what is indicated in the first paragraph of Article 147 of these Provisions shall be the one resulting from the following procedure:

I. In the event that no later than 12:00:00 hours on the Banking Business Day in question, the Bank of Mexico:

a) Obtains quotes from at least six Multiple Banking Institutions, it shall proceed to calculate the corresponding TIIE using the procedure referred to in Annex 11 of these Provisions.

b) Has not received at least six quotes, it shall request again from the designated Multiple Banking Institutions to present their quotes no later than 12:15:00 hours.

In the event that, based on the new request, at least six quotes are not received, the Bank of Mexico shall request from the Multiple Banking Institutions that had presented quotes to quote rates again and shall request from another or other Multiple Banking Institutions to present quotes no later than 12:30:00 hours. In this last case, the Bank of Mexico shall formulate the requests for each of the terms required in a sequential manner and in the order corresponding to the respective Multiple Banking Institutions by considering their name alphabetically, starting from the Multiple Banking Institution immediately following that to which the last presentation of quotes was requested in accordance with the provisions of this paragraph.

The quotes referred to in this subsection must be presented through the SIAC-BANXICO or any other electronic, computing, or telecommunication medium that the Bank of Mexico authorizes for this purpose. The presentation of quotes shall be mandatory when it is necessary to determine the interest rate and term, whether it concerns Multiple Banking Institutions that having presented quotes must formulate them again or other Multiple Banking Institutions that receive a request from the Bank of Mexico for this purpose.

II. In the event that the Bank of Mexico has not been able to determine the TIIE or that, in its opinion, there has been collusion between the Multiple Banking Institutions, it shall determine said interest rate considering the prevailing conditions in the money market.

III. The general results shall be available to Multiple Banking Institutions no later than sixty minutes after the deadline for the presentation of quotes of the same Banking Business Day on which the rates are determined through the SIAC-BANXICO or any other electronic, computing, or telecommunication medium that the Bank of Mexico authorizes for this purpose.

The Bank of Mexico shall publish in the Official Gazette of the Federation the interest rates and the name of the Multiple Banking Institutions that participated in their determination, on the next Banking Business Day following that in which they were determined.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
Section II
Financing or deposits related to the determination of the TIIE Determination of financing or deposits
Article 151.- At the request of the Bank of Mexico, Multiple Banking Institutions that have submitted quotes in accordance with the provisions of Article 150 of these Provisions, shall receive financing from the Bank of Mexico itself or, alternatively, constitute deposits, for the terms and up to the amount expressed in national currency, with respect to which they have submitted the corresponding quotes.
The Bank of Mexico will notify the Multiple Banking Institutions within thirty minutes following the deadline for submitting quotes of the amount of financing it will grant, if applicable, or the amount of the deposit it will receive from each of them, as well as the differential referred to in item 4 of Annex 11 of these Provisions. Such notification will be carried out through the SIAC-BANXICO or any other electronic, computing, or telecommunications medium authorized by the Bank of Mexico for such purpose. Formalization of financing
Article 152.- On the next Banking Business Day following the submission of quotes, the Multiple Banking Institution that is to receive financing from the Bank of Mexico must formalize it through the execution of credit and/or repurchase operations, using the SAGAPL system for this purpose, adhering to the terms and conditions established in the SAGAPL manual.
Schedules and priority
Article 153.- The Bank of Mexico will attempt to formalize credit and/or repurchase operations up to the total amount of financing assigned during the schedules defined in the SAGAPL manual, which can be consulted through said system. For this purpose, the aforementioned financing will first be attempted to be formalized through credit operations and, subsequently, if necessary, through repurchase agreements.
Characteristics of credit operations
Article 154.- Credit operations entered into by Multiple Banking Institutions in accordance with this Chapter shall have the following characteristics:
I. Creditor: The Bank of Mexico;
II. Debtor: The Multiple Banking Institution that has received the notification referred to in the second paragraph of Article 151 of these Provisions;
III. Term: The one corresponding to the TIIE for which the Multiple Banking Institution has submitted the respective quote;
IV. Amount: The portion of the financing assigned by the Bank of Mexico that is guaranteed with one of the types of deposits provided for in item VI of this article;
V. Interest Rate: The interest rate quoted by the Multiple Banking Institution, minus the differential communicated by the Bank of Mexico, and
VI. Guarantee: a) monetary regulatory deposits that the debtor maintains at the Bank of Mexico; b) deposits constituted in accordance with the procedure described in Article 159 of these Provisions; c) deposits made in accordance with Deposit Auctions, as established in Article 192 of these Provisions, and d) Dollar deposits that the debtor maintains at the Central Institute. The aforementioned deposits must be previously designated for this purpose by the accredited Multiple Banking Institution. The amount of the deposits must cover both the principal and the interest accrued by the credit, and their maturity term must be equal to or greater than the term of the credit they guarantee.
In the case of guarantees constituted with the Dollar deposits referred to in item d) of item IV of the previous paragraph, Multiple Banking Institutions must request that, for such purposes, they be segregated in the guarantee deposit account held by the Bank of Mexico, through the SIAC-BANXICO during the hours of 08:30:00 to 16:30:00 or any other electronic, computing, or telecommunications medium authorized for such purpose by the Bank of Mexico, or in requests prepared in accordance with Annex 5 of these Provisions, duly signed by representatives of the Multiple Banking Institution who have powers to exercise acts of dominion.

OFFICIAL GAZETTE Friday, March 2, 2012 (Third Section) Institutions may withdraw the Dollar deposits given as guarantee when they are not guaranteeing any obligation owed to the Bank of Mexico. For this purpose, Institutions must request the respective withdrawal through the SIAC-BANXICO between 8:30:00 and 16:30:00 hours. The released Dollars will be credited to their Dollar Account on the next Banking Business Day following the request. The value of the guarantee will be determined by applying the exchange rate published by the Bank of Mexico in the Official Gazette of the Federation on the date of its constitution, minus the discount factor communicated through the Bank of Mexico's website on the financial network. Characteristics of repurchase operations
Article 155.- Repurchase agreements entered into by Multiple Banking Institutions in accordance with this Section shall have the following characteristics:
I. Repurchaser: The Bank of Mexico.
II. Repurchased: The Multiple Banking Institution that has received the notification referred to in the second paragraph of Article 151 of these Provisions.
III. Term: The one corresponding to the TIIE for which the Multiple Banking Institution has submitted the respective quote.
IV. Securities subject to the repurchase: a) BONDES; b) IPAB Securities; c) BREMS; d) CETES excluding SPECIAL CETES, and e) Segregated Coupons, which are property of the corresponding Multiple Banking Institution.
To determine the national currency amount of UDIBONOS and their Segregated Coupons, as well as to carry out charges related to operations performed with said securities, the applicable equivalence for the value of UDIS on the value date of the operation of such securities will be used. The remaining term of the securities subject to the repurchase must be later than the term of the repurchases to be formalized. Likewise, the value of the securities subject to the repurchase determined in accordance with the following paragraph must be equal to or greater than the sum of the price plus the premium of the operation. The value of the securities subject to the repurchase will be determined taking as a basis the procedure described in Annex 7 of these Provisions, adjusting it according to the type of title in question and applying the parameters communicated through the SAGAPL in accordance with the provisions of the SAGAPL manual.
V. Price: The amount corresponding to the portion of the financing assigned by the Bank of Mexico that is formalized through a repurchase.
VI. Premium: The interest rate quoted by the Multiple Banking Institution, minus the differential communicated by the Bank of Mexico in accordance with the second paragraph of Article 151 of these Provisions.
The Bank of Mexico will formalize an independent repurchase for each type of security subject to the repurchase that it acquires as repurchaser.
Formalization of repurchases
Article 156.- To formalize repurchases entered into in accordance with this Chapter, Multiple Banking Institutions must transfer the securities subject to the repurchase to the securities deposit account that the securities depository institution holds for the Bank of Mexico in its own name. Such transfer must be instructed through the SAGAPL.
Once the Bank of Mexico has credited the aforementioned securities in its account at the securities depository institution, it will formalize the repurchases in ascending order of the maturity term of the securities and make the corresponding credit to the Unique Account of the Multiple Banking Institution in question. Multiple Banking Institutions may recover at any time the securities they have transferred to the Bank of Mexico's account at the securities depository institution and that have not been used to formalize the repurchases. For such purposes, they must request it through the SAGAPL in accordance with the terms and deadlines provided in this Chapter and the SAGAPL manual. In any case, at the end of the Banking Business Day, such securities will be returned to the respective securities accounts of the Multiple Banking Institutions at the securities depository institution.

OFFICIAL GAZETTE Friday, March 2, 2012 (Third Section) The interest that, if any, the securities subject to the repurchase pay during the validity of the operations will be credited by the Bank of Mexico to the Unique Account held for the repurchased party, on the Banking Business Day they are paid by the issuer. On the maturity date of the repurchases, no later than 17:55 hours, the Bank of Mexico will charge the Unique Account held for the Repurchased party the amount of the Price and the corresponding Premium. In the event that the Repurchased party does not have sufficient funds in its Unique Account to settle the repurchases in full, the Bank of Mexico will carry out, on behalf of the institution, new repurchase operations through the SAGAPL, which will mature at the close of operations on the next Banking Business Day, and whose other characteristics will be the same as those of the previous repurchase operations. Likewise, the Bank of Mexico will charge the Unique Account of the Repurchased party, at the opening of the next Banking Business Day following the date of celebration of the new repurchase operations, the amount resulting from multiplying the base amount by twice the Bank Funding Weighted Rate communicated by the Bank of Mexico on the Banking Business Day on which the new repurchase operations were celebrated, dividing the obtained result by 360. The base amount will be the result of subtracting the positive balance of the Unique Account at close from the amount of the new operations. If the result is zero or negative, the charge provided herein will not apply. In the event that the balance in the Unique Account at the close of operations is negative, the base amount will be the amount of the new repurchases. Early maturity of credit or repurchase operations
Article 157.- The Bank of Mexico will allow accredited Multiple Banking Institutions to early mature credit or repurchase operations they have entered into, provided that they carry out new credit and/or repurchase operations. In any case, the new operations must be entered into for the amount of the operation early matured and will have the same interest rate or premium, as well as maturity date.
Procedure in case of non-compliance in the formalization of operations
Article 158.- In the event that a Multiple Banking Institution does not have sufficient deposits or securities to guarantee or carry out credit and/or repurchase operations for the total amount of financing communicated to it, the Bank of Mexico will deposit the amount with respect to which credit and/or repurchase operations could not be formalized until the corresponding guarantees are constituted. The aforementioned Multiple Banking Institution may settle pending credit and/or repurchase operations on any Banking Business Day following the notification.
The Bank of Mexico will charge the Unique Account of the corresponding Multiple Banking Institution the amount resulting from applying to the amount with respect to which credit and/or repurchase operations could not be formalized, the corresponding interest rate for the number of Days of non-compliance. Deposits at the Bank of Mexico
Article 159.- On the next Banking Business Day following the submission of quotes, the Bank of Mexico will charge the amount of the deposit corresponding to the Unique Account of the Multiple Banking Institution that must make the deposit. In the event that the Multiple Banking Institution does not have sufficient resources, the provisions of item I of Article 116 of these Provisions will apply.
The interest rate that will accrue on deposits constituted by Multiple Banking Institutions will be equal to the interest rate quoted by the Multiple Banking Institution in question, plus the differential communicated by the Bank of Mexico in accordance with the second paragraph of Article 151 of these Provisions. Deposits made by Multiple Banking Institutions will be affected at the moment of their constitution as guarantee for overdrafts in the Unique Account of the depositing Multiple Banking Institution.

OFFICIAL GAZETTE Friday, March 2, 2012 (Third Section) During the validity of the aforementioned deposits, the Multiple Banking Institution may instruct through the SAGAPL that the deposit or the part of it that is not guaranteeing an overdraft of those mentioned in the previous paragraph, be used to guarantee the financing provided for in this section, or those granted in accordance with Deposit Auctions, provided for in these Provisions. On the maturity date of each of the deposits, the Bank of Mexico will credit the amount of principal and interest of the deposit corresponding to the Unique Account of the Multiple Banking Institution that made the aforementioned deposit, which will cease to guarantee overdrafts in the Account.
Section III
General Provisions
Information on quotes
Article 160.- The Bank of Mexico will make available to all interested parties information on the quotes submitted on the same Banking Business Day on which the TIIE is determined, through its Internet page via the SIAC-BANXICO or any other electronic, computing, or telecommunications medium authorized by the Bank of Mexico for such purpose.
The information referred to in the previous paragraph will include the name of the Multiple Banking Institutions that have submitted the quotes in question.
Return of profits
Article 161.- The Bank of Mexico will return to Multiple Banking Institutions the profits it obtains from financing operations it enters into and from deposits it receives in accordance with this Chapter.
The corresponding returns will be made at the maturity of each operation for which such profits were obtained. The allocation of such profits will be made in proportion to the amount quoted by the Multiple Banking Institutions that participated in the respective auction. Contract to carry out credit or repurchase operations
Article 162.- To carry out the credit and repurchase operations referred to in this Chapter, interested Multiple Banking Institutions must enter into a contract with the Bank of Mexico, for which they must present to the Operations Instrumentation Management certified and simple copies of the deeds in which the following powers are recorded:
I. To exercise acts of dominion;
II. To grant mandates in favor of the Bank of Mexico in accordance with the provisions issued by the Bank itself, and
III. Specifically to designate those who will act as operators in the payment systems administered by the Bank of Mexico.
Additionally, they must present to said Management a simple copy of the official identification of the person intending to sign the aforementioned contract.
Furthermore, they must deliver to the Operations Management a mandate in favor of the Bank of Mexico in accordance with Annex 10 of these Provisions, signed by the person with the aforementioned powers, of which a copy must be sent to the securities depository institution. The submission of the aforementioned documentation must be made at least ten Banking Business Days in advance of the date on which they intend to begin participating in the TIIE determination process provided for in this Chapter. The Multiple Banking Institution in question must have signed the corresponding contract at least five Banking Business Days in advance of said date. The Multiple Banking Institution must send a copy of the aforementioned mandate to the corresponding securities depository institution. Interest rates
Article 163.- The interest rates obtained in accordance with the provisions of this Chapter will be expressed in annual percentage terms and rounded to four decimal places.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
CHAPTER V
DETERMINATION OF THE EXCHANGE RATE TO SETTLE OBLIGATIONS DENOMINATED IN FOREIGN CURRENCIES PAYABLE IN THE MEXICAN REPUBLIC
Section I
Procedure for the determination of the exchange rate Request for participation
Article 164.- Institutions interested in participating in the determination of the exchange rate referred to in this Chapter must manifest this through a written communication addressed to the National Operations Management of the Bank of Mexico in accordance with the model attached as Annex 13 of these Provisions, which must show the signature authorization granted by the Bank of Mexico.
The submission of such communication implies that the Institution in question accepts to be subject to the provisions contained in this Chapter and obligates itself to submit quotes when requested by the Bank of Mexico, as well as to participate in Dollar purchases and sales, when so determined. Institutions that wish to cease participating in the determination of the exchange rate must manifest this to the aforementioned National Operations Management through a written communication presented at least five Banking Business Days in advance. Quotes obtained through electronic means
Article 165.- The Bank of Mexico will obtain each Banking Business Day quotes for the purchase and sale exchange rate of the Dollar for operations settleable on the second Banking Business Day following the date of the quote from any of the currency trading platforms or any other similar electronic medium that, in its judgment, reflects the predominant conditions in the wholesale foreign exchange market. Such quotes will be obtained during the following three periods: from 9:00:00 to 9:59:00 hours; from 10:00:00 to 10:59:00 hours, and from 11:00:00 to 12:00:00 hours.
For this purpose, the Bank of Mexico will randomly select within each of said periods the moment in which it will take the highest purchase quote and the lowest sale quote in effect that, in its judgment, represent the predominant conditions in the wholesale foreign exchange market at the moment they are obtained. The equilibrium exchange rate corresponding to each of the periods will be calculated using the arithmetic average of the aforementioned quotes. Calculation of the exchange rate obtained from electronic means
Article 166.- The Bank of Mexico will proceed to calculate the arithmetic average of the three equilibrium exchange rates referred to, rounding the result to four decimal places.
In the event that the Central Institute cannot calculate the equilibrium exchange rate in one or more of the referred periods, it will determine the exchange rate with the information it has obtained in accordance with the procedure described above, in the corresponding period or periods. Quotes requested from Institutions
Article 167.- In the event that the Bank of Mexico cannot obtain exchange rate quotes in accordance with the provisions of Article 165 above, it will determine the exchange rate based on the procedure described in this article and in Articles 168 to 170 of these Provisions. For this purpose, it will inform the Institutions of such fact with sufficient opportunity and through the means it deems appropriate, so that they are able to submit the quotes it requests in accordance with what is indicated in the following paragraph.
The Bank of Mexico will obtain on the Banking Business Day in question quotes for the purchase and sale exchange rate of the Dollar for operations settleable on the second Banking Business Day following the date of the quote from Institutions whose operations, in its judgment, reflect the predominant conditions in the wholesale foreign exchange market. Such quotes will be requested during the following three periods: from 9:00:00 to 9:59:00 hours; from 10:00:00 to 10:59:00 hours, and from 11:00:00 to 12:00:00 hours. Each Institution may only submit quotes in one period per Day. For the above purpose, the Bank of Mexico will randomly select within each of said periods a fifteen-minute interval to request the aforementioned quotes from at least four Institutions. The Bank of Mexico will request such quotes for an amount that, in its judgment, reflects the predominant practice in the wholesale foreign exchange market. The amount will be the same for all periods mentioned in the first paragraph of this article.

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012 Confirmation of Quotations
Article 168.- Quotations must be confirmed on the same Banking Business Day to the Sub-Department of National Exchange of the Bank of Mexico itself, through written document, electronic means, or through any other means that leaves a record of the confirmation.

Effects of Quotations
Article 169.- The submitted quotations shall have the character of mandatory and irrevocable, shall produce the widest effects corresponding in law, and must be representative of the predominant conditions in the exchange market at the time they are submitted.

The Bank of Mexico may invalidate quotations that do not comply with the provisions of this Chapter.

Calculation of the Exchange Rate Obtained from Quotations Submitted by Institutions
Article 170.- The Bank of Mexico shall proceed to calculate the equilibrium exchange rate corresponding to each of the periods mentioned in the previous Article 167, applying the procedure referred to in Annex 14 of these Provisions. Subsequently, it shall obtain the arithmetic average of the three equilibrium exchange rates, rounding the result to four decimal places.

In the event that the Bank of Mexico cannot calculate the equilibrium exchange rate in one or more of the referred periods, it shall determine the exchange rate with the information obtained in accordance with the procedure described above, for the corresponding period or periods.

Section II
General Provisions

Publication of the Exchange Rate
Article 171.- The Bank of Mexico shall publish in the Official Gazette of the Federation the exchange rate resulting in accordance with the procedures provided for in Articles 166 or 170 of these Provisions, as applicable, on the Banking Business Day immediately following that on which it determines it.

Exchange Rate to Settle Obligations Denominated in Dollars
Article 172.- Payment obligations denominated in Dollars that are contracted within or outside the Mexican Republic to be fulfilled in this country, shall be settled by delivering the equivalent in national currency at the exchange rate that the Bank of Mexico publishes in the Official Gazette of the Federation on the Banking Business Day immediately preceding that on which the payment is made.

The equivalence of the Mexican peso with other Foreign Currencies shall be calculated taking into account the quotation that governs for the latter against the Dollar in international markets on the Day on which the payment is made. These quotations shall be made known by the Institutions at the request of interested parties.

Information to the Public
Article 173.- The Library Services Office of the Bank of Mexico shall keep available to interested parties the name of the participating Institutions, as well as information regarding the quotations referred to in the previous articles, starting from the third Banking Business Day following the date on which the Bank of Mexico has calculated the corresponding exchange rate, indicating the denomination of the exchange transaction platforms, the electronic means, or the Institutions from which said quotations were obtained, as applicable.

CHAPTER VI
DEPOSIT AUCTIONS AND LIQUIDITY AUCTIONS
Section I
General Provisions

Types of Auctions
Article 174.- Deposit Auctions and Liquidity Auctions may be:
I. Single-rate. These auctions are those in which the offered amount of the deposit or resources shall be assigned starting from the best bid for the Bank of Mexico, and the bids that result in assignment shall be attended to the same rate as the last bid that receives assignment, even if it has been partially attended.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
II. Multiple-rate. These auctions are those in which the offered amount of the deposit or resources shall be assigned starting from the best bid for the Bank of Mexico, and the bids that result in assignment shall be attended to the requested rate, even if they have been partially attended.

The Bank of Mexico may determine the minimum rate at which it is willing to carry out the respective operation in each of the Liquidity Auctions as well as the maximum rate for Deposit Auctions.

Notices
Article 175.- The total amount, term, and other particular characteristics of Deposit Auctions or Liquidity Auctions shall be made known to the Institutions through the corresponding notices, which shall be made known through SIAC-BANXICO.

When the Bank of Mexico decides that bids relative to Deposit Auctions or Liquidity Auctions are to be submitted interactively, it shall make this known to interested parties in the corresponding notice.

Instrumentation of Liquidity Auctions
Article 176.- To be able to participate in Liquidity Auctions, Institutions must enter into a contract with the Bank of Mexico, for which they must present to the Operations Instrumentation Management a certified and simple copy of the deed in which the following powers are stated:
I. To exercise acts of domain;
II. For the granting of mandates in favor of the Bank of Mexico in terms of the provisions issued by the Bank itself, and
III. Expressly to designate those who shall act as operators in the payment systems administered by the Bank of Mexico.

Additionally, Institutions must present to said Management a simple copy of the official identification of the person who intends to sign the referred contract. They must also present to the Operations Management a mandate in favor of the Bank of Mexico in terms of Annex 10 of these Provisions, signed by the person with the powers referred to above, of which a copy must be sent to the institution for the deposit of securities.

The presentation of the documentation referred to in the previous paragraph must be made at least ten Banking Business Days in advance of the date on which they intend to begin participating in Liquidity Auctions. In any case, the Institution in question must sign the corresponding contract at least five Banking Business Days in advance of said date.

Section II
Bids

General Characteristics
Article 177.- The bids of Liquidity Auctions and Deposit Auctions must meet the following characteristics:
I. They must be competitive;
II. The amount specified in the bids must be in multiples of millions of pesos and cannot exceed the amount announced in the notice, and
III. The rates referred to in the bids must be expressed in percentage points and rounded to hundredths.

Additional Characteristics of Liquidity Auctions
Article 178.- In Liquidity Auctions, the bidder must indicate the resources it wishes to acquire and the annual interest rate at which it is willing to receive them.

Additional Characteristics of Deposit Auctions
Article 179.- In Deposit Auctions, the bidder must indicate the resources with which it is willing to constitute the deposit and the annual interest rate at which it is willing to make said deposit.

Submission of Bids on Own Account
Article 180.- In Deposit Auctions and Liquidity Auctions, Institutions must submit their bids on their own account through SIAC-BANXICO in the form, terms, date, hours, and conditions set forth in the respective notices and in the SIAC-BANXICO operation manual.

In case of failures of said system, Institutions may submit their bids extraordinarily through any other authorized electronic, computing, or telecommunication means for this purpose by the Bank of Mexico, confirming them through a written document addressed to the National Operations Management in a closed envelope no later than 17:00:00 hours on the same Banking Business Day using the model attached as Annex 15 of these Provisions, accompanied by a cover letter.

Both documents must be signed by the same representatives duly authorized by the bidder. Additionally, the letter must show the knowledge of signatures granted by the Bank of Mexico, so said signatures must be previously registered in the Central Institute.

By the mere fact of submitting bids, Institutions authorize the Bank of Mexico to credit or charge their Single Account for the amount of cash corresponding.

The access, identification, and, if applicable, operation keys established for the use of SIAC-BANXICO or electronic, computing, or telecommunication means shall substitute the autograph signature with one of an electronic character, so documentary or technical records in which they appear shall produce the same effects that the laws grant to documents signed by the parties and, consequently, shall have equal probative value.

Effects
Article 181.- Bids shall be adjusted as follows:
I. Every bid shall have an obligatory character for the bidder who presents it and shall be irrevocable, and
II. They shall produce the widest effects corresponding in law and imply the bidder's acceptance of all and each of the provisions provided for in this Chapter and to the terms and conditions established in the notice in which the Bank of Mexico communicates the particular characteristics of each auction.

The Bank of Mexico may invalidate the bids it receives if they do not comply with what is stated in these Provisions, what is stated in the corresponding notice, or are incomplete or incorrect in any way.

Section III
Assignment

Procedure
Article 182.- In Liquidity Auctions, bids shall receive assignment in descending order of the corresponding rates without exceeding the maximum amount indicated in the notice itself.

In Deposit Auctions, bids shall receive assignment in ascending order of the corresponding rates without exceeding the maximum amount indicated in the notice itself.

In both types of auctions, the last bid that receives assignment may be partially attended in its amount.

Tied Bids
Article 183.- Tied bids at any level whose amount for assignment is insufficient shall be attended pro rata of their amount, except when it comes to interactive auctions, in which case the bids shall be attended in the order in which they were received.

Authority of the Bank of Mexico to Declare an Auction Void or Reject Bids
Article 184.- The Bank of Mexico reserves the right to declare the respective auction void or reject bids when it considers that these do not adequately represent market conditions, could produce inconvenient effects in the same, or detects collusion among participating Institutions.

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Section IV
Formalization

Procedure to Conclude Operations
Article 185.- Institutions must formalize the bids that receive assignment through the conclusion of credit and/or repo operations, adhering to what is provided for in this Chapter and using SAGAPL for this purpose. Additionally, they must adhere to the terms and conditions established in the SAGAPL manual.

Hours
Article 186.- The Bank of Mexico will attempt to formalize assignments for each Liquidity Auction in the hours defined in the SAGAPL manual, which can be consulted through SAGAPL.

Order of Formalization
Article 187.- For each Liquidity Auction, participant, and assigned amount, the order in which the Bank of Mexico will attempt to formalize each operation shall be as follows:
I. The bids of the auctions in descending order considering their term, and
II. In case an Institution has more than one assigned bid for the same auction, in descending order according to the rate of said bids.

In all cases, each assigned bid will first be attempted to be formalized through credit operations and, if necessary, through repos.

Characteristics of Credits
Article 188.- The credits with which assignments in Liquidity Auctions are formalized shall have the following characteristics:
I. Lender: The Bank of Mexico;
II. Borrower: The Institution that has received assignment;
III. Term: That established by the Bank of Mexico in the notice of the corresponding auction;
IV. Amount: The amount of resources assigned by the Bank of Mexico that is guaranteed with the same type of deposit provided for in the following subsection VI;
V. Interest Rate: The rate corresponding to the assigned bid, and
VI. Guarantee:
a) The monetary regulation deposits that the borrower maintains at the Bank of Mexico; b) Deposits constituted in accordance with the procedure for the determination of TIIE; c) Deposits constituted in accordance with Deposit Auctions, and d) Dollar deposits that the Borrower Institution maintains in the respective account at the Bank of Mexico.

The mentioned deposits must be previously allocated for this purpose by the Borrower Institution. In any case, the amount of the deposits must cover both the principal and the interest that the credit will accrue, and its maturity term must be equal to or greater than the term of the credit they guarantee.

Regarding guarantees constituted with the Dollar deposits referred to in subsection d) above, Institutions must request that for such purposes they be segregated in the guarantee deposit account that the Bank of Mexico holds for them, through SIAC-BANXICO, or any other electronic, computing, or telecommunication means authorized for such purpose by the Bank of Mexico, or in requests elaborated in terms of Annex 5 duly signed by representatives of the Institution who have powers to exercise acts of domain. The value of the guarantee shall be determined by applying the exchange rate published by the Bank of Mexico in the Official Gazette of the Federation on the date of its constitution minus the discount factor to be made known through the Bank of Mexico's site on the financial network.

(Tercera Sección) DIARIO OFICIAL Viernes 2 de marzo de 2012 Institutions may withdraw the Dollar deposits given as guarantee when they are not guaranteeing any obligation on their part and in favor of the Bank of Mexico. For this purpose, Institutions must request the respective withdrawal through SIAC-BANXICO between 8:30:00 and 16:30:00 hours. The released Dollars will be credited to their Dollar Account on the Banking Business Day following the request.

Characteristics of Repos
Article 189.- The repos with which assignments in Liquidity Auctions are formalized shall have the following characteristics:
I. Repo Seller: The Bank of Mexico.
II. Repo Buyer: The Institution that has received assignment.
III. Term: That established by the Bank of Mexico in the notice of the corresponding auction.
IV. Securities Subject of the Repo: a) BONDES; b) IPAB Securities; c) BREMS; d) CETES excluding SPECIAL CETES, and e) Segregated Coupons, which are property of the corresponding Institution.

To determine the national currency amount of UDIBONOS and their Segregated Coupons, as well as to carry out charges related to operations carried out with said securities, the equivalence applicable to the value of UDIS on the value date of the operation of such securities shall be used.

The validity of the securities subject of the repo must be greater than the term of the repo operations to be formalized.

Likewise, the value of the securities subject of the repo determined in accordance with the provisions in the following paragraph, must be equal to or greater than the sum of the price plus the premium of the operation.

The value of the securities subject of the repo shall be determined taking as a base the procedure described in Annex 7, adjusting it according to the type of title in question, applying the parameters to be made known through SAGAPL, in accordance with what is provided for in the SAGAPL manual.

V. Price: The amount of resources assigned in each bid of the auction to be formalized through a repo.
VI. Premium: The rate corresponding to the assigned bid.

The Bank of Mexico will formalize an independent repo for each type of security subject of the repo that it acquires as repo seller.

To formalize the repos, Institutions must transfer the securities subject of the repo to the securities deposit account that the institution for the deposit of securities holds at the Bank of Mexico. This transfer must be instructed through SAGAPL.

Additional Characteristics of Repos
Article 190.- Once the Bank of Mexico has credited the mentioned securities in its account at some institution for the deposit of values, it will formalize the repo operations and credit the corresponding resources in the Single Account of the Institution in question. The repos will be registered in ascending order of the maturity term of the securities.

Institutions may recover at any time the securities that they have transferred to the Bank of Mexico's account at some institution for the deposit of values and that have not been used to formalize repos. For such purposes, they must request it through SAGAPL, in the terms and deadlines provided for in these Provisions and in the SAGAPL manual. In any case, at the end of the day such securities will be returned to the securities accounts of the respective Institutions in the same institution for the deposit of values.

The interest that, if any, the securities subject of the repo pay during the validity of the operations, shall be credited by the Bank of Mexico in the Single Account it holds for the repo buyer, on the Banking Business Day on which they have been paid by the issuer.

On the maturity date of the repos, no later than 17:55:00 hours, the Bank of Mexico will charge in the Single Account it holds for the repo buyer the amount of the price and premium corresponding. In case the repo buyer does not have sufficient resources in its Single Account to settle the repos in full, the Bank of Mexico will carry out on behalf of the Institution new repos through SAGAPL, which will mature at the close of operations on the next Banking Business Day and whose other characteristics will be the

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the same as those of the previous repurchases. Likewise, the Bank of Mexico will charge the Unique Account of the reported entity, upon the opening of the next Banking Business Day following the date of celebration of the new repurchases, the amount resulting from multiplying the base amount by two times the "Banked Funding Weighted Rate" made known by the Bank of Mexico on the Banking Business Day on which the new repurchases were celebrated, dividing the obtained result by 360.

The base amount will be the result of subtracting the positive balance of the Unique Account at closing from the amount of the new repurchases. If the result is zero or negative, the charge provided for herein will not apply. In the event that the balance in the Unique Account at the close of operations is negative, the base amount will be the amount of the new repurchases.

Early Maturity of Credit Operations or Repurchases

Article 191.- The Bank of Mexico will allow Institutions to early mature the credit operations or repurchases they have celebrated, provided that they carry out new credit and/or repurchase operations.

In any case, the new operations must be celebrated for the amount of the operation early matured and will have the same interest rate or premium, as well as the same maturity date.

In the event of early maturity of a repurchase, the Bank of Mexico will make available to the reported entity the securities subject to the repurchase that are released and will charge its Unique Account for the amount relative to the price and premium corresponding to that date.

Formalization of Assignments in Deposit Auctions

Article 192.- Institutions that receive assignments in the Deposit Auctions must formalize them through the constitution of a deposit. In the event that the Multiple Banking Institution does not have sufficient resources, the provisions of Article 115, fraction I of these Provisions will apply.

The deposits made by Institutions will, at the moment of their constitution, be affected as guarantee for overdrafts in the Unique Account of the depositing Institution.

During the validity of the deposits, the Institution may instruct through SAGAPL that the deposit or the part of it that is not guaranteeing an overdraft of those mentioned in the previous paragraph, be used to guarantee the credits foreseen in the procedure for the determination of the TIIE referred to in Chapter IV of Title Third of these Provisions.

Section V
Final Provisions

Information on Results

Article 193.- The results of the Deposit Auctions and the Liquidity Auctions will be available through SIAC-BANXICO within ten minutes after the deadline hour for the presentation of bids in each auction.

The total amount of resources effectively delivered to Institutions in each Liquidity Auction, through credit or repurchase operations, will be communicated to Institutions in SIAC-BANXICO or in any other electronic, computing, or telecommunications medium authorized by the Bank of Mexico itself, once the term for formalizing assignments has concluded, foreseen in Article 185 of these Provisions.

Suspension or Limit of Liquidity Auctions and Deposit Auctions

Article 194.- The Bank of Mexico may suspend the participation of Institutions in the Liquidity Auctions and in the Deposit Auctions whenever it detects collusion among them.

Additionally, the Bank of Mexico may suspend the participation of Institutions in the Liquidity Auctions when:

I. They fail to comply with what is stipulated in the contract referred to in Article 176 of these Provisions, or

II. The bidder who has received an assignment does not have sufficient deposits or securities to guarantee or carry out credit and/or repurchase operations for the total amount assigned to them.

In this case, the Bank of Mexico, without the need for a judicial declaration, will rescind the respective operation for the amount for which it could not be formalized, so that on the next Banking Business Day it will make a charge in the Unique Account of the defaulting Institution, for the amount resulting from applying to said amount the interest rate at which the bidder received the corresponding assignment for one day, multiplied by 1.5.

Likewise, when the operations of Institutions do not adjust to sound market usages or sound market practices, the Bank of Mexico may limit the participation of one or some of them in the Liquidity Auctions or in the Deposit Auctions.

Fortuitous Event or Force Majeure

Article 195.- In the event that due to fortuitous event or force majeure the Liquidity Auctions or the Deposit Auctions cannot be carried out through SIAC-BANXICO in accordance with these Provisions, the Bank of Mexico will make known the applicable procedure for their carrying out.

FOURTH TITLE
OPERATIONAL TOPICS
SINGLE CHAPTER
CLEARING HOUSES
Section I
Domestic Currency Clearing

Document Clearing

Article 196.- Document Clearing will be carried out in the Clearing Houses authorized by the Bank of Mexico, in any operational modality and through the mechanisms freely agreed upon by participating Institutions, subject to what is provided in this Chapter, as well as to sound banking usages and sound banking practices.

Prohibition of Entry Barriers

Article 197.- Institutions that participate in a Clearing House must ensure that in it adherence is allowed on equal conditions to all Institutions, provided that the latter satisfy the respective requirements.

Authorization to Operate as a Clearing House

Article 198.- Institutions wishing to establish a Clearing House with three or more participating Institutions must present their authorization request to the Bank of Mexico and attach a draft multilateral contract that will regulate the operational modalities adopted to carry out the Clearing.

The aforementioned authorization request must be presented with an advance of at least ninety Days prior to the entry into force of said agreement.

Characteristics of the Multilateral Contract

Article 199.- The multilateral contract celebrated to constitute a Clearing House must establish an association regime under which decisions regarding the duration or early termination of the corresponding arrangement are established; in addition, in its case, the increase or reduction of capital, which occurs for causes other than the entry or withdrawal of an Institution; the appointment and removal of persons in charge of administration and oversight, and the approval of their management or, in general, any modification to the legal act that gives rise to it, can only be taken in sessions in which resolutions are adopted with the favorable vote of the number of Institutions representing, at least, half of the subscribing members of the cited contract.

Additionally, said contract must provide that:

I. The call for sessions contains the agenda, is signed by the one who makes it, and is made known through the publication of a notice in a newspaper of national circulation with an advance of at least fifteen Days prior to the date set for the meeting.

II. The number of members forming part of the administration body is odd and that members are designated annually.

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III. Institutions that have not initially subscribed to the contract may request its adherence, the Clearing House being required to respond in writing to the respective request, within a term not greater than twenty Days counted from the date of its presentation.

IV. Institutions will have the right to withdraw from the corresponding Clearing House, without having to make any payment, through notice that they must give in a verifiable manner and which will take effect until the end of the current annual exercise if the notification is made before the last quarter of said exercise, and until the end of the following exercise, if it is made after, unless the administration body approves a shorter term.

V. The Bank of Mexico must be called to the sessions of all councils and committees held by the Clearing House to participate with voice, but without vote, having the right of veto over the agreements taken in such sessions.

VI. The matters that must be approved by a qualified majority of the administration body will be the following:

a) Tariffs, as well as fines and sanctions for non-compliance with the operating rules of the respective Clearing House;

b) Elaboration and modification of the procedures manual and of the operating manuals;

c) New services linked to the object of the Clearing House;

d) Financial planning decisions, such as profit strategies, annual budgets of income, expenses and their adjustments, as well as new investments and contributions;

e) Presentation of proposals to the decision-making body of the Clearing House regarding any reform to the contract, as well as those relative to investment in other companies, to the merger, spin-off, transformation and dissolution of the Clearing House;

f) Appointment and removal of the general director, and

g) Reduction of the term for the total or partial withdrawal of any associated Institution, indicated in fraction IV of this article.

VII. Any modification made to the contract must be submitted to the authorization of the Bank of Mexico. Likewise, when this modifies its provisions relative to Clearing and fund transfer and, by virtue of the mentioned modifications, there are contradictions between the provisions and the referred contract, the necessary adjustments must be made to the cited contract, in order to make it congruent with the respective provisions.

Administration Body

Article 200.- In the multilateral contract referred to in the previous article, it must additionally be provided that the designation of the members who integrate its administration body adjusts to the following:

I. The associated Institutions with the greatest participation in the operations of the Clearing House will designate the number of members resulting from dividing by two the quantity obtained by adding one to the total number of members of the administration body.

To determine the Institutions that had the greatest participation in the Clearing House, the volume of Documents presented and received during the twelve months immediately prior to the date of the celebration of the session for the election of the members of the administration body of the respective Clearing House will be considered.

For such purposes, Institutions will be ordered in descending order according to their participation in the Clearing House until reaching a number of Institutions equal to that of members resulting according to the first paragraph of this fraction, in order that each of them designates one of such members, and

II. The associated Institutions other than those referred to in fraction I will designate the remaining members.

For the purposes of what is provided in fractions I and II above, the associated Institutions that find themselves in any of the following situations must be considered as one same Institution to determine their participation in the Clearing House, so that they may exclusively designate one owner member of the administration body and its respective alternate:

I. They belong to the same financial group;

II. They are in the process of merger, or

III. They control or are legally, administratively or operationally controlled by another or other associated Institutions.

When two or more associated Institutions have designated more than one member of the administration body and subsequently find themselves in any of the situations referred to in the previous paragraph, a new designation must be made in terms of what is provided in this article in order that said Institutions designate exclusively one owner member of the referred administration body and its respective alternate.

In the event that any member of the administration body and its respective alternate cease to provide their services to the Institution that designated them according to this article, said Institution may designate a provisional alternate member through written communication that must be delivered to the administration body and to the person or body in charge of oversight until the corresponding decision-making body meets to adopt the resolutions that proceed.

Associated Institutions will have the same number of votes that will confer equal rights in decision-making.

Clearing House Manual

Article 201.- Institutions that are members of a Clearing House must define in a manual the operating rules and procedures to carry out Clearing in said House. The Bank of Mexico must authorize said manual as well as the modifications made to it.

Such operating rules and procedures must comprise, among others, the following aspects:

I. Obligations and rights of the parties;

II. Technical specifications;

III. Schedules for presenting Documents, as well as returns and adjustments to such Documents;

IV. Procedure to be followed by Institutions to carry out investigations as appropriate when a check is returned for causes 16 or 23 indicated in Annex 16 of these Provisions;

V. Procedures to carry out Clearing, in cases where some contingency arises due to which Clearing cannot be carried out according to normal procedures, and

VI. Terms and conditions under which the Electronic Fund Transfer Service, the Bill Domiciliation Service, and the Cash Exchange and Clearing Service will be provided.

Obligation to Participate in Clearing Houses

Article 202.- Institutions are obliged to participate in at least one of the Clearing Houses that, in their case, the Bank of Mexico authorizes, as well as to receive the Documents presented to their charge in it.

Institutions will have the right to present Documents in the Clearing House in which they participate.

Reports through SICAM

Article 203.- Clearing Houses will report to the Bank of Mexico through SICAM on the dates, schedules and according to the procedures indicated in the SICAM operating manual, the following:

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I. The information of the Documents that each Institution has presented to each of the other Institutions, indicating the date of presentation of the Documents and the date on which the settlement will be effected, and

II. The information relative to the Documents returned by Institutions in terms of fraction III of Article 204 of these Provisions, as well as the adjustments they have made, corresponding to the Documents presented on the immediate previous Banking Business Day.

Additionally, Clearing Houses must report to the Bank of Mexico in the terms indicated in the previous paragraph, the information relative to the operations that each Institution has carried out through the Electronic Fund Transfer Service, the Bill Domiciliation Service and the Cash Exchange and Clearing Service, indicating the date on which its settlement will be effected, as well as the information corresponding to its returns.

Obligations of Participating Institutions in a Clearing House

Article 204.- Institutions that participate in a Clearing House will have the following obligations:

I. Accept without restriction the Documents to their charge that are presented for Clearing;

II. Present in the Clearing House the Documents they receive from their clients to carry out payments for services and contributions, as well as for account credit, on the date they are received;

III. Annotate on checks they refuse to pay for any legal cause, the reason for the respective return, either through the use of a stamp or of an impression by electronic means, specifying the motive of said return in accordance with what is indicated in Annex 16 of these Provisions. Regarding the return of Documents other than those mentioned, the applicable provisions and what participating Institutions freely agree upon will apply;

IV. Authorize the Bank of Mexico to charge or credit, as the case may be, the Unique Account held for them up to the amount resulting from the Clearing to their charge or to their favor, respectively, based on the information communicated in their name by the respective Clearing House;

V. Authorize the Bank of Mexico to charge or credit the Unique Account held for them, up to the amounts required to be exercised from the credit lines they would have granted or received from other Institutions, in terms of what is provided in Article 208 of these Provisions;

VI. Authorize the Clearing House to provide the Bank of Mexico with the necessary information for the determination of their net debtor or creditor balance that, in its case, results from the Clearing, and

VII. Carry out in their clients' accounts the charges and credits corresponding to Documents presented in the Clearing House on the next Banking Business Day after that in which such Documents were presented in the respective Clearing House no later than 12:00 hours.

The charges and credits provided for in the previous paragraph must be carried out in their clients' accounts no later than 12:00 hours of that Day, in the event that the situation provided for in Article 215 of these Provisions arises.

Mandate in Favor of the Bank of Mexico

Article 205.- To comply with the obligations provided for in fractions IV and V of the previous article, Institutions must grant a mandate in favor of the Bank of Mexico in terms of Annex 17 of these Provisions signed by whoever has the faculties to exercise acts of domain, for which they must present to the Management of Operation and Business Continuity of the Payment Systems certified and simple copies of the deeds in which the granting of the aforementioned faculties is recorded, as well as simple copies of their official identifications.

The presentation of the documentation referred to in the previous paragraph must be made at least ten Banking Business Days in advance of the date on which they intend to start operations.

The Institution must send a copy of the aforementioned mandate to the respective Clearing House for its information.

Incorporation and Withdrawal of Institutions in the Clearing House

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Article 206.- Whenever an Institution joins or withdraws from a Clearing House, the Clearing House and the Institution in question must jointly communicate such situation in writing to the Operations Management Department of the Bank of Mexico at least ten Banking Business Days in advance of the date on which the Institution's participation begins or ends, as the case may be.

An Institution may participate in a Clearing House through another Institution or through the Clearing House in question itself, with the latter obligating themselves to present and/or accept on behalf of the first party the Documents presented to the charge of said Institution.

For this purpose, the Institutions intending to participate in a Clearing House under the terms indicated above must sign the respective agreement and submit a copy of this to the Operations Management Department of the Bank of Mexico and, where applicable, to the corresponding Clearing House.

Document Retention

Article 207.- In order to address inquiries and clarifications from the Institutions participating in a Clearing House, the latter must retain the supporting documentation of the Compensation for at least one hundred and eighty Days.

The Institutions must communicate in writing to the Clearing House any observation of errors or omissions in the recording of the Compensation results within forty-five Days following their recording.

Credit Lines between Institutions

Article 208.- For the settlement of the Compensation of Documents, the Institutions may grant credit lines to each other. For this purpose, the Institutions will inform the Bank of Mexico of the amount of the credit lines they grant to other Institutions in the schedules, terms, and procedures established in the SICAM operations manual. While the Institutions have not notified the Bank of Mexico of modifications regarding the credit line granted to any Institution, the last determined credit line will be considered in effect.

The Institutions may increase the amount of the credit lines they have determined for that Day by notifying the Bank of Mexico in the terms indicated by the latter.

Limits on Credit Lines between Institutions

Article 209.- The credit line that an Institution grants to any other may not exceed thirty percent of the net capital of the granting Institution. This limit will also apply to the sum of credit lines that an Institution grants to others that are part of the same financial group.

For the purposes of the foregoing paragraph, the net capital will be that determined in accordance with the rules applicable to the capitalization requirements issued by the competent authority.

In the case of Multiple Banking Institutions, it will be that corresponding to the month in question as established in Annex 9 of these Provisions, and in the case of Development Banking Institutions, the one corresponding to the third immediate preceding month to the month in question. The Bank of Mexico may authorize the use of a net capital relative to a date subsequent to the one indicated.

In no case, the sum of all credit lines that an Institution grants to the others may exceed the amount obtained by multiplying 1.5 by the quantity resulting in accordance with what is provided in Annex 9.

Exercise of Credit Lines

Article 210.- The credit lines will be exercised up to the amount required according to the compensation results through charges and credits that the Bank of Mexico makes in the Unique Accounts of the granting and granted Institutions, respectively, at 8:30 hours. The payment of the exercised credit will be carried out in the manner that the parties have agreed.

Compensation Results

Article 211.- Based on the information that the Bank of Mexico receives through the SICAM, it will determine the preliminary or final result of the Compensation of Documents following the procedure described in articles 212 to 214 of these Provisions, through which the following will be specified:

I. The amount of the net debtor or creditor balances resulting from the Compensation, and

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II. Where applicable, the amounts to be exercised from each of the credit lines granted without these exceeding the amount informed to the Bank of Mexico.

On all Banking Business Days, in the schedules established in the SICAM operations manual, the Institutions may consult via the SICAM the preliminary and final result of the Compensation process.

Priority in the Settlement of Payment Obligations in the SICAM

Article 212.- The order of priority of services with which the Payment Obligations of the participants in the SICAM will be settled will depend on those that the system settles according to the following order:

I. Check Service;
II. Electronic Funds Transfer Service;
III. Bill Domiciliation Service, and
IV. Cash Exchange and Compensation Service.

Coverage of Negative Balances

Article 213.- To cover the negative balances that a participant in the SICAM might have, the following procedure will be applied:

I. The resources from its positive balance in the SIAC-BANXICO will be used;
II. If this balance is not sufficient, the credit granted by the Bank of Mexico to said Institution in the SIAC-BANXICO to cover the aforementioned negative balances will be used. These resources will be used to cover the negative balances of the services in the priority order mentioned in the previous article, and
III. In the event that the participant's Payment Capacity in the SIAC-BANXICO is not sufficient to cover the negative balances, the bilateral credit lines they have contracted will be used, considering only those from participants who have offered credit and have Payment Capacity in the SIAC-BANXICO or have a positive balance in the SICAM.

The lines will be exercised proportionally among all offerors and an attempt will be made to cover the negative balance of the services in the priority order described in the previous article.

Procedure to Eliminate Payment Obligations from the Settlement Process

Article 214.- If after applying the procedure described in the previous article there are Institutions that do not have resources to pay all their obligations, the following will be proceeded with:

I. The Institution with the largest negative balance to cover its Payment Obligations in the SICAM will be determined;
II. The Payment Obligations of said Institution derived from the Cash Exchange and Compensation Service will be cancelled;
III. In the event that the referred Institution continues to have a negative balance to cover its Payment Obligations, its Payment Obligations derived from the Bill Domiciliation Service will be cancelled;
IV. In the event that the referred Institution continues to have a negative balance to cover its Payment Obligations and said balance is greater than the sum of its Payment Obligations derived from Documents received in all Clearing Houses, its Payment Obligations from the Electronic Funds Transfer Service will be cancelled;
V. If the Institution still continues to have a negative balance, a set of Clearing Houses will be identified in which the sum of the Payment Obligations of said Institution derived from Documents is greater than or equal to the negative balance and such Payment Obligations will be cancelled.
The set of Clearing Houses will be integrated considering as a Clearing House each of the locations where the Institutions carry out the physical exchange of Documents, and
VI. When the aforementioned Institution ceases to have a deficit position in the SICAM as a result of applying any of the previous cancellations, the Payment Obligations will be updated and the procedure described in the previous article will be applied with the Payment Obligations not cancelled.

Exclusion of Documents from the Clearing House

(Fifth Section) OFFICIAL GAZETTE Friday, March 2, 2012

Article 215.- In the event that one or more Institutions could not settle the balances due to them resulting from the final process carried out in accordance with the first paragraph of the previous Article 211, the Bank of Mexico will carry out the Compensation excluding from one or more Clearing Houses the Documents and/or the operations carried out through the Electronic Funds Transfer Service, the Bill Domiciliation Service, and the Cash Exchange and Compensation Service, to the charge of the Institutions in question, in accordance with the procedure described in articles 212 to 214 of these Provisions.

The Documents that are excluded from one or more Clearing Houses in accordance with the previous paragraph must be returned to the respective Clearing Houses no later than 10:00 hours on the same Day of settlement, indicating that the cause of return is attributable to the drawee bank according to the model attached as Annex 16 of these Provisions.

Settlement of Compensation

Article 216.- The Bank of Mexico will carry out the settlement of the Compensation of Documents by charging and crediting the Unique Accounts of the Institutions at 8:30 hours.

Revocation of Authorization

Article 217.- The Bank of Mexico may revoke the authorization to operate as a Clearing House when the Institutions repeatedly and seriously infringe the provisions provided in this Chapter, fail to comply with the obligations derived from the respective multilateral contract, or, in general, in the judgment of the Bank of Mexico itself, carry out operations in contravention of sound uses or practices applicable in the matter of Compensation.

Bilateral Compensation

Article 218.- The Institutions may enter into bilateral contracts in order to compensate outside a Clearing House their payment obligations for Documents that are presented in accordance with such contracts.

The charges and credits that the Institutions must make in their clients' accounts for the Documents they have presented for collection in accordance with the bilateral contracts must be carried out on the next Banking Business Day after which such Documents were presented for collection, no later than 12:00:00 hours.

Except for what is provided in this article, the Institutions that enter into the aforementioned bilateral contracts will not be subject to the provisions provided in this Chapter.

Section II
Dollar Compensation

Compensation

Article 219.- The Institutions must carry out the compensation of checks and payment orders in Dollars through the procedures and mechanisms they freely agree upon, always subjecting themselves to sound banking practices and sound banking uses.

The fund transfer orders in Dollars to settle the Compensation will be carried out abroad or in the accounts that the Institutions open for this purpose in an Institution interested in providing such service without the intervention of the Bank of Mexico.

FIFTH TITLE
FOREIGN EXCHANGE RISK POSITION AND INVESTMENT REGIME
CHAPTER I
FOREIGN EXCHANGE RISK POSITION

Limits on Foreign Exchange Risk Position

Article 220.- At the close of operations of each Day, the Institutions may maintain a Foreign Exchange Risk Position that, both as a whole and for each Currency, does not exceed the equivalent to fifteen percent of their basic capital.

The Institutions may request authorization from the Bank of Mexico so that the limits referred to in the previous paragraph applicable to the Long Position or Short Position are calculated from a determined Long Position up to the equivalent in Dollars of their book capital. In the authorization that, where applicable, the Bank of Mexico grants, the amount of said Long Position will be established.

Computable Assets and Liabilities

Article 221.- The Institutions must consider for the calculation of their Foreign Exchange Risk Position the assets and liabilities referred to in Annex 33 of the "General Provisions applicable to credit institutions" issued by the National Banking and Securities Commission or its successor, with the exception of the operations provided in Annex 18 of these Provisions.

Notwithstanding the foregoing, when the Bank of Mexico deems it convenient, it will determine that some of the operations in Foreign Currency provided in the aforementioned Annex 18 are not excluded from the computation. To this effect, the Central Institute will consider their amount and the percentage they represent of the total operations in Foreign Currency of the Institution in question.

Foreign Currency operations must be computed at book value in terms of the provisions issued by the aforementioned Commission, net, where applicable, of the corresponding estimates.

Option operations provided in the general provisions of the Bank of Mexico regarding derivative operations and structured bank securities will compute by the result of multiplying their notional amount by the delta resulting from using the valuation model applied by the Institution for the derivative operation in question.

In the case of financial products constituted by two or more operations, each of them will compute according to their particular characteristics forming part of the position of the Currency to which they correspond.

In the case of financial products where some of their operations are denominated in or refer to Foreign Currency and others are denominated in or refer to national currency, only those denominated in or referring to Foreign Currency will compute. This is without prejudice to what is stated in the last paragraph of fraction II of Article 223 of these Provisions.

Also considered as assets and liabilities denominated in Foreign Currency for the purposes of this article are those that the Institutions register for obligations due to them or in their favor payable in national currency, referring to exchange rates of the national currency against Foreign Currency.

The Institutions may request authorization from the Bank of Mexico to include or exclude certain assets and liabilities in the computation of their Foreign Exchange Risk Position.

Calculation

Article 222.- For the calculation of the Foreign Exchange Risk Position, the basic capital will be that determined in terms of the general provisions referred to in Article 50 of the Credit Institutions Law, corresponding to the third immediate preceding month to the month in question. Without prejudice to the foregoing, in the case of Multiple Banking Institutions:

I. Constituted in the month for which the calculations are made, as well as in the immediate preceding month, the basic capital relative to the date on which the resources were effectively contributed for the constitution will be used;
II. Constituted in the second immediate preceding month to the month for which the calculations are made, the basic capital relative to the close of said second month will be used;
III. That have increased any of the items that make up the basic capital in the immediate preceding month to the month for which the calculations are made, the basic capital relative to the date on which the said increase was effectively made will be used, and
IV. That have increased any of the items that make up the basic capital in the second immediate preceding month to the month for which the calculations are made, the basic capital relative to the close of said second month will be used.

The provisions in fractions III and IV above will be applicable only if the Multiple Banking Institutions inform the Bank of Mexico of the basic capital used as a reference in the manner established by the Financial System Information Directorate.

(Fifth Section) OFFICIAL GAZETTE Friday, March 2, 2012

In the case of Development Banking Institutions, the Bank of Mexico may authorize the use of a basic capital relative to a date subsequent to the one indicated.

In the event that, subsequent to the month in question, the amount of the Institution's basic capital, applied in said month, is subject to modification for any reason, the Bank of Mexico may determine in each case whether or not new calculations of the Foreign Exchange Risk Position must be made considering the modified basic capital. To this effect, said Central Institute will take into account:

I. The causes of the determination of the new capital;
II. The effect on the computation results;
III. The time elapsed from the date of the original computation to the date of determination of the new basic capital, and
IV. Any other element it deems convenient regarding the matter.

For the purposes of calculating the limits referred to in this article, the equivalence in Dollars of the corresponding basic capital will be considered using the exchange rate published by the Bank of Mexico in the Official Gazette of the Federation, on the Banking Business Day immediately following the date to which the basic capital corresponds.

Computation of the Calculation

Article 223.- The Institutions must also include in the computation for the calculation of their Foreign Exchange Risk Position the following Foreign Currency operations:

I. Those carried out by their agencies and Branches abroad, and
II. Those carried out by their national and foreign subsidiary financial entities that are not stock brokerage firms, exchange houses, guarantee institutions, insurance institutions, investment fund operating companies, investment companies, or specialized investment companies for retirement funds.

For these purposes, subsidiaries will be considered those financial entities with respect to which the Institution or, where applicable, the holding company of the financial group to which the Multiple Banking Institution belongs is the direct or indirect owner of shares with voting rights representing at least fifty-one percent of the paid capital, have control of the general shareholders' meetings, or have the right to appoint the majority of the members of the board of directors or their equivalents.

The Institutions may request the Bank of Mexico to exclude from the computation the Foreign Currency operations of the referred subsidiaries. For this purpose, the Bank will resolve accordingly taking into consideration, among others and if applicable, the following elements:

a) The type of subsidiary in question, the regulations applicable to it, and the supervision to which it is subject; b) Whether the subsidiary is or is not located in a low-tax jurisdiction; c) The existence of a deposit insurance regime in the country where the subsidiary is located, as well as the characteristics of said regime; d) The existence of any financial authority empowered to act as a lender of last resort for said subsidiary in the country where it is located, and e) The volume and type of Foreign Currency operations carried out by the subsidiary.

In the case of foreign subsidiary financial entities, Long Positions and Short Positions computable for the purposes of Article 221 of these Provisions will be those obtained in accordance with the following:

a) The balances of the assets and liabilities of the subsidiary in question denominated in or referring to Mexican pesos will be determined, considering as such those that are not subject to foreign exchange risk; b) Such assets and liabilities will be converted to Dollars by using the exchange rate published by the Bank of Mexico in the Official Gazette of the Federation, on the Banking Business Day immediately following the date to which such balances correspond, and c) Once converted, the assets will compute as a Short Position and the liabilities as a Long Position.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Conversion of Currencies to Dollars
Article 224.- For the purposes of calculating Foreign Exchange Risk Positions, when the assets and liabilities in question are denominated in currencies other than the Dollar, Institutions must convert the respective currency to such Dollars. To carry out such conversion, they must consider the exchange rate prevailing for the corresponding currency against the aforementioned Dollar in international markets at the close of operations on the day in question.

Authorizable Excesses
Article 225.- The Bank of Mexico may authorize Multiple Banking Institutions excesses to the limits of the Foreign Exchange Risk Position referred to in Article 220 of these Provisions, for up to five Days in a twelve-month period for each limit, provided that within a period not exceeding ten Banking Business Days, counted from the Banking Business Day following the date on which the excess occurred, they submit to the Bank of Mexico an authorization request duly signed by officials with sufficient authority for this purpose, in which the following is included:
I. A detailed description of the act or omission that caused the excess or excesses;
II. Information on the corrective actions they will adopt to prevent the excess or excesses from recurring in the future, and
III. The necessary information to demonstrate that once the aforementioned corrective actions are implemented, the Multiple Banking Institution is within the relevant limit.
In the event that ten Banking Business Days have elapsed after the Bank of Mexico has received the aforementioned communication and the aforementioned Bank of Mexico refrains from expressing its decision in writing regarding the authorization in question or from requesting additional information, it shall be understood that the excesses subject to such communication are authorized.

CHAPTER II
INVESTMENT REGIMES
Section I
Admission of liabilities and investment regimes for passive operations in Foreign Currency

Admission of liabilities regime
Article 226.- Multiple Banking Institutions must comply with the following admission of liabilities regime in Foreign Currency:
At the close of each Day, they may not maintain an amount of liabilities subject to a limit greater than 1.83 times their basic capital. Such amount of liabilities subject to a limit shall be obtained as follows:
I. Liabilities shall be classified into four groups in accordance with their Calculation Maturity, and in each group, the amount of liabilities to be calculated shall be determined by multiplying the amount of the liability by the following weights:

LIABILITY CALCULATION MATURITY WEIGHT
Up to one year 1.00
From one year one Day to two years 0.20
From two years one Day to three years 0.10
Greater than three years 0.05

II. The total amount of liabilities shall be determined by summing the amounts resulting in accordance with the preceding subsection.
III. Assets shall be classified into two groups and in each group the amount of assets to be calculated shall be determined by multiplying the amount of the asset by the following weights:

TYPE OF ASSET WEIGHT
Liquid Assets, Money Market Assets and Foreign Currency to be Received. 1.0 Current credits with A, B or C rating, obtained in accordance with the Rules for the credit portfolio rating of Multiple Banking Institutions issued by the corresponding authority, as well as other assets and rights, with a Calculation Maturity of up to one year, other than those mentioned above. 0.5

IV. The total amount of assets shall be determined by summing the amounts resulting in accordance with the preceding subsection.
V. The amount of liabilities subject to a limit shall be the positive amount resulting from subtracting the total amount of assets determined in accordance with subsection IV above, from the total amount of liabilities determined in accordance with subsection II above.

Authorizable Excesses
Article 227.- The Bank of Mexico may authorize Multiple Banking Institutions excesses to the limits of the admission of liabilities regime in Foreign Currency for up to five Days in a twelve-month period for each limit, provided that within a period not exceeding ten Banking Business Days, counted from the Banking Business Day following the date on which the excess occurred, they submit to the Bank of Mexico an authorization request duly signed by officials with sufficient authority for this purpose, in which they:
I. Detail the act or omission that caused the excess or excesses;
II. Inform of the corrective actions they will adopt to prevent the excess or excesses from recurring in the future, and
III. Provide the necessary information to demonstrate that once the aforementioned corrective actions are implemented, the Multiple Banking Institution is within the relevant limit.
In the event that ten Banking Business Days have elapsed after the Bank of Mexico has received the aforementioned communication and it refrains from expressing its decision in writing regarding the authorization in question, or from requesting additional information, it shall be understood that the excesses subject to such communication are authorized.

Investment regime
Article 228.- Multiple Banking Institutions shall be obliged to observe the following investment regime in their Foreign Currency operations:
I. Total Liquid Assets Requirement
At the close of each Day, they must have invested in Liquid Assets an amount no less than that resulting from summing the amounts indicated in subsections II and III of this article.
II. Liquid Assets Requirement for Shortfall of Assets to Compensate Liabilities
Computable liabilities and assets shall be classified into four groups in accordance with their Calculation Maturity as follows: up to one Day, from one to eight Days, from one to thirty Days, and from one to sixty Days.
For the purposes of this subsection, computable assets shall be understood to be:
a) Money Market Assets; b) Foreign Currency to be Received, and c) Other assets and rights other than Liquid Assets and those included in subsections a) and b) above.
The amount of liabilities in each group shall be reduced by the computable assets of the corresponding group.
The Liquid Assets requirement for shortfall of assets to compensate liabilities shall be the largest of the amounts, provided that it is positive, resulting in accordance with the preceding paragraph.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
III. Liquid Assets Requirement for Calculation Maturity of Liabilities
Liabilities shall be classified into sixty groups in accordance with their Calculation Maturity as follows: up to one Day, up to two Days, and so on successively up to sixty Days.
The amount determined in the last paragraph of subsection II of this article shall be subtracted from the liabilities classified Day by Day. This subtraction shall be carried out as far as possible in order of shorter Calculation Maturity of liabilities to longer Calculation Maturity of the same liabilities. From the remaining liabilities, once the arithmetic operation referred to in the preceding paragraph has been performed, the computable assets whose Calculation Maturity is less than or equal to that of said liabilities shall be subtracted. The aforementioned subtraction shall be carried out as far as possible in order of shorter Calculation Maturity of liabilities to longer Calculation Maturity of the same liabilities. For the purposes of this subsection, computable assets shall be understood to be:
a) Money Market Assets, and b) Foreign Currency to be Received.
Finally, the remaining liabilities classified Day by Day shall be multiplied by the factor corresponding to the Days remaining until maturity in terms of Annex 19.
The Liquid Assets requirement for Calculation Maturity of Liabilities shall be the sum of the amounts resulting in accordance with the preceding paragraph.

Excesses in the liability admission limit or shortfalls of Liquid Assets
Article 229.- Multiple Banking Institutions shall be subject to fines in accordance with the terms provided in Articles 29 and 33 of the Bank of Mexico Law when they exceed the liability admission limit or by incurring the following shortfalls of Liquid Assets:
I. Those that on each Day, considering for those that are not Banking Business Days the result of the calculation of the immediately preceding Banking Business Day, exceed the larger of the following two amounts:
a) Ten percent of the average of the Liquid Assets requirement referred to in subsection I of Article 228 of these Provisions; or b) Ten percent of the average of the Liquid Assets.
For such purposes, the aforementioned percentages shall be determined based on the figures relating to the second immediate preceding period to the period in question.
II. Those that, without exceeding the percentage indicated in the preceding subsection, during the period in question are not matched with an equal amount of Liquid Asset surpluses registered on other Days of the same period, and that on each Day do not exceed the same percentage indicated in the preceding subsection. To this effect, the calculation in the computation shall be carried out cumulatively, summing the surpluses on one side and the shortfalls on the other, of each Day.
For these purposes, each period shall cover the Days indicated in Annex 20 of these Provisions. The Bank of Mexico may establish, when it deems it appropriate, that the aforementioned period begins on different dates for certain Multiple Banking Institutions.

Exceptions to the admission of liabilities and investment regimes
Article 230.- The provisions of Articles 226 and 228 of these Provisions shall not apply to Multiple Banking Institutions that have an unconditional, general and permanent guarantee for the fulfillment of their Foreign Currency Operations, granted by foreign financial entities whose long-term debt is rated at least AA- by Standard and Poor’s agency or Aa3 by Moody’s agency, or obtain a rating equivalent to the aforementioned, granted by any other internationally recognized prestigious rating agency and are authorized for this purpose by the Bank of Mexico.

Computation of liabilities for the investment regime
Article 231.- For the purposes of the investment regime for Foreign Currency Operations, liabilities shall be computed as follows: checking accounts included in “Part 1” of subsection a) of Annex 21 of these Provisions shall be weighted by a factor of 0.20 and the rest of the liabilities by a factor of 0.95.

The values referred to in subsection c) of the definition of Liquid Assets and a), b), c) and d) of the definition of Money Market Assets, must be classified as “held for trading” or “available for sale”, in accordance with the corresponding provisions of the National Banking and Securities Commission.

Operations included for the calculation of the admission of liabilities and investment regimes
Article 232.- For the calculation of the admission of liabilities and investment regimes for Foreign Currency Operations, Multiple Banking Institutions must proceed as follows:
I. They must include in the computation of Foreign Currency Operations carried out by their agencies and branches abroad and those of their national and foreign financial subsidiary entities that are not brokerage firms, exchange houses, guarantee institutions, insurance institutions, investment fund operating companies, retirement fund administrators, investment companies, or specialized investment companies for retirement funds. For these purposes, subsidiaries are understood to be those financial entities with respect to which the Multiple Banking Institution or the holding company of the financial group to which it belongs is the direct or indirect owner of shares with voting rights representing at least fifty-one percent of the paid-in capital, has control of the general shareholders’ meetings, or has the right to appoint the majority of the members of the board of directors or their equivalents.
Multiple Banking Institutions may request authorization from the Bank of Mexico to exclude their subsidiaries from the computation of Foreign Currency Operations. For this purpose, the Bank of Mexico shall resolve such request taking into consideration, among others and if applicable, the following elements:
a) The type of subsidiary in question, the regulations applicable to it and the supervision to which it is subject; b) Whether the subsidiary is or is not located in a low-tax jurisdiction; c) The existence of a deposit insurance regime in the country where the subsidiary is located, as well as the characteristics of said regime; d) The existence of any financial authority empowered to act as a lender of last resort for said subsidiary, in the country where it is located, and e) The volume and type of Foreign Currency Operations carried out by the subsidiary. Notwithstanding that the Multiple Banking Institution has received the aforementioned authorization, in the event that the foreign financial subsidiary entity of the Multiple Banking Institution comes to have shortfalls with respect to the investment regime it must observe in accordance with the provisions applicable to it in the country where it is located, the amount of said shortfall shall be considered, for all purposes and on all Days that a shortfall exists, as a Liquid Assets requirement in accordance with subsection I of Article 228 of these Provisions. In the case of derivative operations carried out by such financial subsidiary entities of the Multiple Banking Institution, with respect to which the subsidiary and the Multiple Banking Institution do not have authorization to carry them out, the rights shall not be computed and the obligations shall be computed with a maturity of one Day. Without prejudice to what is stated in subsection b) of this subsection, in the case of Multiple Banking Institutions that belong to a financial group integrated by brokerage firms, obligations relating to derivative operations carried out by the financial subsidiary entities of such brokerage firms, with respect to which the subsidiary, the brokerage firm and the Multiple Banking Institution do not have authorization to carry them out, must also be included in the computation, computing said obligations with a maturity of one Day.
II. They must include in the computation the asset and liability operations, the guarantees granted and the opening of irrevocable credits, as referred to in the account catalog of the National Banking and Securities Commission, as well as other rights and obligations that, if applicable, the Bank of Mexico determines, except for the operations indicated in Annex 22 of these Provisions.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section) Without prejudice to the foregoing, the Bank of Mexico may determine that some of the Foreign Currency Operations indicated in said Annex 22 are not excluded from the computation. To this effect, the Central Institute will consider their amount and the percentage they represent of the total Foreign Currency Operations of the Multiple Banking Institution in question. Foreign Currency Operations must be computed at book value in terms of the provisions issued by the aforementioned Commission, net, if applicable, of the corresponding estimates.

Computation
Article 233.- Additionally, for the calculation of the admission of liabilities and investment regimes for Foreign Currency Operations, Multiple Banking Institutions must proceed as follows:
I. The maturity of Foreign Currency Operations shall be equivalent to the number of Days between the date of the computation in question and the corresponding settlement date, except for those Foreign Currency Operations for which a specific term is established.
Foreign Currency Operations payable in parts on different dates shall be computed by the amount of each of its parts at their corresponding maturity.
II. The amount of checking accounts shall be classified in accordance with what is indicated in Annex 21 of these Provisions.
III. Foreign Currency to be Received shall be computed with a maturity of two Banking Business Days prior to the Day of its settlement, except for operations whose settlement term is one and two Days, which shall be computed with a maturity of one Banking Business Day.
IV. Liquid Assets shall be computed with a maturity of one Day.
V. Money Market Assets shall be computed as follows:
a) Those included in subsections b) and e) of the corresponding definition, with a maturity of one Day; b) Those included in subsection a) of the aforementioned definition, with a maturity of five Days; c) Those included in subsection h) of said definition, with a maturity of seven Days; d) Those included in subsections c), d) and g) of the aforementioned definition, at their maturity, and e) Those included in subsection f) of the aforementioned definition, in accordance with what is indicated in the following subsection VI.
VI. Assets that, if applicable, are given as collateral, loan, repo or through any other legal figure that limits their free availability, shall be computed as follows:
a) The values included in subsections a), b), c), d) and f) of the definition Money Market Assets, at the remaining maturity of the liability they are guaranteeing or of the liability related to the operation in question, as the case may be, and b) Any other asset, at the remaining maturity resulting from the greater of:
i) The liability they are guaranteeing or of the liability related to the operation in question, as the case may be, and ii) The remaining maturity of the asset.
VII. Guarantees granted shall be computed as an asset and a liability:
a) The asset, at the remaining maturity determined based on the term agreed for the payment to the Multiple Banking Institution of the corresponding resources that the guarantor would have to make to it in the event that it does not settle the operation in question at its maturity, and b) The liability, at the remaining maturity of the principal operation subject to the guarantee.

(Fifth Section) OFFICIAL GAZETTE Friday, March 2, 2012
VIII. Irrevocable commercial credits other than those exempt from computation in accordance with numeral 6 of the heading “Multiple Banking Institutions” of Annex 22 of these Provisions, regardless of their term, shall be computed with a maturity of forty Days.
IX. Resources generated by the credit portfolio that Multiple Banking Institutions administer on behalf of the Institute for the Protection of Bank Savings, whose flows are credited to the aforementioned Institute in accounts known as “EPF Checkbook”, shall be computed at the same remaining maturity as the obligations owed by the aforementioned Institute and in favor of those Multiple Banking Institutions, which have some payment guarantee from the Federal Government of the United Mexican States, provided that in the respective contracts it has been agreed that such resources will be used to cancel the aforementioned obligations owed by the Institute for the Protection of Bank Savings.

Other operations that must be included in the computation
Article 234.- In addition to what is provided in the previous article, for the calculation of the admission of liabilities and investment regimes for Foreign Currency Operations, Multiple Banking Institutions must proceed as follows:
I. Time instruments issued by the Multiple Banking Institution, whose payment is guaranteed under any legal figure, with credit lines obtained from foreign financial entities that have a Liquidity Requirement Rating, as referred to in subsection e) of the definition Money Market Assets, shall be computed at the settlement term of the instrument plus the number of Days agreed for the payment of the corresponding disbursement, in the event that the line is exercised.
II. Passive operations entered into by Multiple Banking Institutions that provide for the right of these to pay them in advance shall be computed at their maturity. When it is the clients who have the aforementioned right, such operations shall be computed at the first of the terms at which said clients can demand early payment of them.
III. Credits contracted for the acquisition of Foreign Currency securities that provide for automatic reduction clauses of their amount or increase in the amount of required guarantees in the event of a decrease in the price of the securities, shall be computed as follows:
a) The liability with a maturity of fifteen Days, and b) The securities with the remaining maturity determined in accordance with their maturity date.
The provisions of this subsection shall also be applicable to derivative operations that produce effects similar to the aforementioned operations.
IV. Shares and deposit receipts shall be computed with a maturity of one year.
V. The values included in subsection a) of the definition of Money Market Assets shall be computed, according to the lowest of the ratings granted for international purposes by Standard and Poor’s or Moody’s agencies, or to the equivalent rating degree granted by other internationally recognized prestigious agencies, only for a percentage of their market value according to the following table:

Rating % Computable Regarding the Market Value S&P Moody's Investment Grade

AA- > Aa3 100
A+ A1 90
A A2 90
A- A3 90
BBB+ Baa1 80
BBB Baa2 80
BBB- Baa3 80
Speculative Grade
BB+ Ba1 50
< BB < Ba2 0

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

VI. The securities referred to in item a) of the definition of Money Market Assets, which have an international rating lower than A- or A3 granted by Standard and Poor’s or Moody’s, respectively, or an equivalent rating granted by other internationally recognized prestigious rating agencies, may only count as Money Market Assets up to an amount not greater than 1 percent of the average of the computable liabilities with a maturity of less than sixty-one Days, as referred to in fraction II of article 232 of these Provisions, relative to the second immediate preceding period to the period in question.

VII. The inclusion in the computation of the rights included in item g) of the definition of Liquid Assets and item e) of the definition of Money Market Assets, will be subject to the prior authorization of the Bank of Mexico.

Without prejudice to what is provided in fraction VIII, the authorization issued by the Bank of Mexico, where applicable, will establish the period, amount, and term for the computation of the aforementioned rights. To this effect, the Central Institute will consider, among other aspects:

a) The term to expire in which, if the line in question is exercised, the Multiple Banking Institution would have to pay the corresponding disbursement; b) If the line is being granted by the parent financial entity of the subsidiary Multiple Banking Institution, and c) The main types of operations of the Multiple Banking Institution and the composition of its Liquid Assets and Money Market Assets.

VIII. The sum of the rights included in item g) of the definition of Liquid Assets and the rights included in item e) of the definition of Money Market Assets, may count up to the lesser amount resulting from:

a) Twenty-five percent of the average of the computable liabilities with a maturity of less than sixty-one Days, as referred to in fraction II of article 232 of these Provisions, relative to the second immediate preceding period to the period in question, and b) Five hundred million Dollars, if the financial entity or entities backing them have an A-1 or P-1 rating, or two hundred fifty million Dollars, if the rating of said financial entities is A-2 or P-2.

For the computation of this limit, the rights included in item g) of the definition of Liquid Assets will be considered first.

IX. Option operations, including those derived from structured bank securities operations, will count by the result of multiplying their notional amount by the delta resulting from using the valuation model applied by the Multiple Banking Institution for the derivative operation in question.

Additional provisions for the calculation of the regimes for the admission of liabilities and investment

Article 235.- For the calculation of the regimes for the admission of liabilities and investment for Foreign Currency Operations, Multiple Banking Institutions, additionally, must adhere to the following:

I. The computation will be carried out in Dollars. Operations denominated in or referred to Foreign Currencies other than the aforementioned Dollar must be converted to Dollars taking into consideration the exchange rate that applies for the corresponding currency against the aforementioned Dollar in international markets at the close of operations on the Day in question.

II. In the case of financial products constituted by two or more operations, each of them will count according to their particular characteristics.

Regarding financial products such as structured bank securities, in which some of their operations are denominated in or referred to Foreign Currency and others to national currency, only those denominated in or referred to Foreign Currency will count.

Without prejudice to the foregoing, in derivative operations:

a) Those agreed with delivery of the underlying asset will count for the total of the corresponding value of the asset and the liability, and b) Those agreed with settlement by differences will count for the amount of the difference between the corresponding value of the asset and the liability, as an asset if the former is greater than the latter and as a liability if the latter is greater than the former.

III. Deposits of two to seven Days in financial entities abroad that have a Liquidity Requirement Rating, included in item d) of the definition of Liquid Assets, will count as Liquid Assets up to an amount equivalent to fifty percent of the average of the total Liquid Assets requirement referred to in fraction I of article 228 of these Provisions, relative to the second immediate preceding period to the period in question. To this effect, the calculation will be carried out by computing the Deposits in order from shortest to longest maturity. Deposits that exceed the aforementioned limit will count as Money Market Assets at their corresponding maturity date.

Without prejudice to the foregoing, the Bank of Mexico, on the date it deems convenient by writing addressed to the Multiple Banking Institution in question, may determine that the maximum percentage by which such Deposits may count as Liquid Assets is lower than that indicated in the previous paragraph. To this effect, it will take into account the following:

a) The structure by type and term of the liabilities and assets of the corresponding Multiple Banking Institution; b) The composition of its Liquid Assets; c) The volume of its Foreign Currency Operations; d) The amount of the aforementioned Deposits, and e) The percentage that Foreign Currency Operations represent of the total operations of the respective Multiple Banking Institution.

In these cases, the Deposits in effect on the Banking Business Day immediately preceding the date on which the aforementioned writing takes effect, which exceed the new maximum percentage determined by the Bank of Mexico for the corresponding Multiple Banking Institution, may continue to count as Liquid Assets only until their maturity date.

IV. Investments in the societies or investment funds referred to in item f) of the definition of Liquid Assets, will count as such up to an amount not greater than twenty-five percent of the total amount of said Liquid Assets, understanding that investments in each society or investment fund may only count up to an amount that does not exceed the following percentages:

a) Fifteen percent of the total amount of Liquid Assets, and b) Five percent of the shares of the society or of the total contributions or securities issued by the fund in question.

The aforementioned limits will be determined, as applicable, based on the average of the total Liquid Assets relative to the second immediate preceding period to the period in question and based on the total amount of the shares of the society or the total contributions or securities issued by the respective fund, relative to the last Day of the second month immediately preceding the end date of the respective period.

V. Foreign Currency Operations that do not have a determined maturity term, will count as follows:

a) Active operations with a maturity term greater than one year, and b) Passive operations with a maturity term of one Day.

VI. Deposits in financial entities abroad that have a Liquidity Requirement Rating that can be made available on the Banking Business Day following the Day in question, will count with a maturity term of one Day regardless of whether there are non-business Days between one date and the other.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

Basic capital

Article 236.- For the purposes of what is provided in article 226 of these Provisions, the basic capital will be that determined in terms of the general provisions referred to in article 50 of the Credit Institutions Law corresponding to the third month immediately preceding the month in question.

Without prejudice to the foregoing, regarding Multiple Banking Institutions:

I. Those constituted in the month for which the calculation is carried out, as well as in the month immediately preceding this, will use the basic capital relative to the date on which the resources were effectively contributed for the constitution;
II. Those constituted in the second month immediately preceding the month for which the calculation is carried out, will use the basic capital relative to the close of said second month;
III. Those that have increased any of the items that make up their basic capital in the month immediately preceding the month for which the calculation is carried out, will use the basic capital relative to the date on which said increase was effectively made, and
IV. Those that have increased any of the items that make up their basic capital in the second month immediately preceding the month for which the calculation is carried out, will use the basic capital relative to the close of said second month.

The provisions in fractions III and IV above will be applicable provided that the Multiple Banking Institutions inform the Bank of Mexico of the basic capital they used as a reference, in the manner established by the Financial System Information Directorate.

In the event that after the month in question, the amount of the basic capital of the Multiple Banking Institution applied in said month is subject to modification for any reason, the Bank of Mexico may determine in each case whether a new calculation of the liability admission limit for Foreign Currency Operations must be made, taking into consideration the modified basic capital.

Liquidity Requirement Rating

Article 237.- Companies and financial entities or the issuances of any of them that, despite not having such a rating, have an unconditional and general guarantee for the fulfillment of all their obligations or of all the specific operation or issuance in question, granted by the parent company or financial entity that directly or indirectly controls at least fifty-one percent of the share capital of the company or financial entity in question, will be considered to have a Liquidity Requirement Rating, provided that said parent has a Liquidity Requirement Rating.

In the case that operations with guarantee are carried out under the terms of the previous paragraph, the Multiple Banking Institution must keep in its files a document stating that the company or financial entity acting as its counterparty in the operation or the securities subject to investment have the aforementioned guarantee and the guarantor parent has a Liquidity Requirement Rating.

Section II
Investment regime for passive operations in national currency

Investment regime

Article 238.- The national currency liability of Multiple Banking Institutions indicated in groups I to V of Annex 23 of these Provisions, may be invested in credits and other assets without other limitations than those established in the Credit Institutions Law and other applicable provisions.

The Bank of Mexico will consider as an unauthorized liability for legal purposes, that resulting from Bank Securities that Multiple Banking Institutions have paid in advance in contravention of applicable provisions, as well as the liability derived from any operation carried out with the purpose of acquiring Bank Securities issued, accepted, guaranteed or guaranteed by the Multiple Banking Institution itself, as well as the liability resulting from the acquisition of subordinated obligations issued by other Institutions or by controlling companies, in contravention of the terms expressly authorized in these and other applicable provisions.

(THIRD SECTION) OFFICIAL GAZETTE Friday, March 2, 2012

ANNEX 1
Format to request Direct Debit
___ of ___________ of 20___.
I request and authorize that based on the information indicated in this communication, periodic charges be made on my account as follows:

1. Name of the provider of the good, service, or credit, as applicable, to be paid:
   _________________________________________________________.

2. Good, service, or credit to be paid:_____________________________________________. In its case, the identification number generated by the provider (optional data): _____________.

3. Payment frequency (Billing) (Example: weekly, bi-weekly, monthly, bimonthly, semi-annual, annual, etc.): ___________________________________________________ or, in its case, the specific day on which payment is requested: ________________.

4. Name of the bank that holds the checking or savings account on which the charge will be made:
   ______________________________________.

5. Any of the following Account Identification Data:
   Debit card number (16 digits): _________________________________; Standardized Banking Key (“CLABE”) of the Account (18 digits): __________________, or Mobile phone number associated with the account: _________________________________.

6. Maximum fixed amount of the authorized charge per billing period: $_________________.

Instead of the maximum fixed amount, regarding the payment of revolving credits associated with credit cards, the account holder may opt to authorize one of the following charge options:
(Mark with an X the option that, as applicable, corresponds) The amount of the minimum payment of the period: ( ), The total balance to not generate interest in the period: ( ), or A fixed amount: ( ) (Include amount) $___________.

7. This authorization is for an indefinite term ( ), or expires on: ____________________.

I am aware that at any time I may request the cancellation of this direct debit at no cost to me.

Sincerely,

---

(NAME OR BUSINESS NAME OF THE ACCOUNT HOLDER)

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 2
Format to cancel Direct Debit
___ of ____________ of 20___.

---

(NAME OF THE CREDIT INSTITUTION)
I request that this bank cancel the direct debit of the following payment:

1. Name of the provider of the good, service, or credit: ______________________________.

2. Good, service, or credit, the direct debit of which is requested to be cancelled: _____________________.

In its case, the identification number generated by the Provider (optional data):
_______________________________________________________________________.

3. Any of the following Account Identification Data where the charge is made:
   Debit card number (16 digits): _______________________________________; Standardized Banking Key (“CLABE”) of the account (18 digits): _________________, or Mobile phone number associated with the account: _________________________________.

I am aware that the cancellation is at no cost to me and that it will take effect within a period not greater than 3 banking business days counted from the date of presentation of this request.

Sincerely,
____________________________________________________ (NAME OR BUSINESS NAME OF THE ACCOUNT HOLDER)

(THIRD SECTION) OFFICIAL GAZETTE Friday, March 2, 2012

ANNEX 3
Format to object to charges by Direct Debit
___ of ___________ of 20___.

---

(NAME OF THE CREDIT INSTITUTION)
I request this bank to return the charge of $_________ made on day ___ of ________ of 20__, to my following account (16 digits of the debit card, 18 digits of the Standardized Banking Key “CLABE” or, in its case, mobile phone number associated): _______________________.

The identification number of the charge generated by the Provider is (optional data):
_______________________.

Regarding this, I declare that:
(* Mark with an X the corresponding option)
*____ I did not authorize the charge;
*____ The charge amount exceeds the authorized amount per period; *____ The charge was improperly made more than once in the same billing period; *____ The authorization was cancelled prior to the making of the charge, or *____ Any other circumstance: ________________________________________.

I am aware that this objection will have no cost when resolved in my favor. Likewise, I am aware that if it is resolved against me and that bank intends to charge for the management, the charge of the commission cannot exceed: $ _______ (Amount to be included by the bank)

Email or phone number to receive a response to this request (optional data):
_________________________________.

Sincerely,
__________________________________________________ (NAME OR BUSINESS NAME OF THE ACCOUNT HOLDER)

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 4
Format to request the transfer of resources from the accounts in which labor benefits are received ___ of _________ of 20___ _________________________________________ (NAME OF THE CREDIT INSTITUTION) I request that the resources that are deposited in my account number _____________________________ (Sending Account), be transferred at no cost to my charge to the account with CLABE number ____________________ (eighteen digits) or with debit card number _________________ (sixteen digits), held by __________________ (Name of the credit institution), on the same Business Day on which Labor Benefits are deposited in it.

The foregoing, understanding that if such resources are available in the Sending Account after 15:00:00 hours, the balance of said account must be credited to the account to which I wish the resources to be transferred, no later than the opening of the next Banking Business Day.

To make this request, I exhibit my official identification and regarding the account to which the resources will be transferred, any of the following documents:
Contract;
Account Statement, or
Debit Card with my name printed.

This request will take effect no later than the tenth Banking Business Day following the date on which I present it and will remain valid until the date on which I order its cancellation.

Sincerely,

---

(CLIENT'S NAME)

(THIRD SECTION) OFFICIAL GAZETTE Friday, March 2, 2012

ANNEX 5
Model of request for segregation of Dollars in the deposit account for guarantees (BANK LETTERHEAD) Mexico, D.F., to ___ of _________ of 20__.

BANCO DE MEXICO
Operations Management Department
Av. 5 de Mayo No. 6
Col. Centro, C.P. 06059, Mexico, D.F.

Present.

Through this channel, I allow myself to request from the Bank of Mexico on behalf of (Full denomination of the credit institution), that from this date it carry out the actions that prove necessary to segregate in the deposit account for guarantees that it holds at this Institution the amount of $______ (______United States Dollars) in order to guarantee the overdrafts incurred in the Single Account.

Sincerely,
Name, signature and position of the official or officials of the Institution with authority to exercise acts of domain 1

C.c.p.: Operations Support Directorate
National Operations Management
Sub-management of Operations Management with Account Holders

This communication may be directed to the email accounts and fax numbers indicated below:
Email Account Fax Number jsantael@banxico.org.mx 5227-8816 ljimenez@banxico.org.mx 5227-8787 asordo@banxico.org.mx 5227-8813 and 5227-8892 fax server ncastro@banxico.org.mx 5227-8787 _____________________________

1 A certified and simple copy of the deed in which the authority to exercise acts of domain of the person who intends to sign this communication is stated, as well as a simple copy of their official identifications, must be sent at least two banking business days in advance to the Operations Management Department within the hours between 9:30 and 14:30.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 6
Model of mandate in favor of the Bank of Mexico to liquidate operations with CLS Bank International (BANK LETTERHEAD) “Mexico, D.F., to ___ of _________ of 20__.

BANCO DE MEXICO
Payment Systems Operation and Business Continuity Management Department Avenida 5 de Mayo No. 6 Col. Centro, C.P. 06059, Mexico, D.F.

Present.

In accordance with what is established in the “Applicable Provisions to the operations of credit institutions and the Rural Financial Company”, in the event that any contingency arises in the Interbank Electronic Payment System (SPEI), which prevents sending Transfer Orders in favor of CLS Bank International or receiving payments from this entity, (Full denomination of the Credit Institution) authorizes and instructs the Bank of Mexico to: a) make charges in the Single Account we hold, up to the amount of the payments we must liquidate to CLS Bank International, under the terms we indicate according to the Contingency Manual for Operations with CLS Bank International, and b) credit to the referenced Single Account the amounts that said entity sends to our benefit, based on the information that the latter provides to that Central Bank.

The authorization and instruction referred to in this document may only be modified or revoked, by written communication addressed to that Payments Systems Directorate and presented with an advance of at least one banking business day to the date on which the modification or revocation in question is intended to take effect.

Sincerely,
(Name, signature and position of the official or officials of the institution with authority to exercise acts of domain)

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 7
Valuation of titles or securities for guarantee purposes

1. General valuation procedure.
   The Bank of Mexico will carry out the valuation of the instruments indicated in the catalog that the institution sends it daily for the deposit of securities using the valuation prices sent to it daily by the Price Providers (Providers) with which it has the respective agreement. With the purpose of determining the value of the instruments that will be used for the effect of granting guarantees to the Bank of Mexico, as well as for celebrating repo operations to provide liquidity to the payment systems and the repos to formalize the Liquidity Auctions referred to in the "Applicable Provisions for the operations of credit institutions and the Rural Financial Institution", it may apply to each instrument a discount factor on the valuation price obtained in accordance with the procedure described in this Annex. In their case, the referred factors will be made known to those institutions by the Central Bank itself. The valuation of fixed-income securities instruments will be carried out by calculating a weighted average of the prices of the Providers, using random weights. The weights are generated from a uniform distribution and subsequently normalized to ensure that the valuation price of the Bank of Mexico is between the lowest and highest prices calculated by the Providers. For each outstanding issuance, its dirty and clean prices will be determined. The valuation prices will be calculated as follows:
   a) If for instrument x there is at least 2 valuations from the Providers, the Bank of Mexico will determine the clean valuation price of that instrument with the following formula:
   Where:
   is the price of the i-th Provider, the are random weights with values between 0 and 1, generated with a uniform distribution and Where:
   For each instrument, on each valuation date, new weights must be determined.
   The dirty prices in this case will be calculated using the same weights as for the clean prices. b) If on the valuation date there is no information from any Provider for instrument x, the Bank of Mexico will determine the clean and dirty valuation prices of that instrument by repeating the value of the previous day.
2. Procedure to value Government Securities and monetary regulation bonds in their first placement.
   The Bank of Mexico will value the following titles when they are placed for the first time, using the unique prices or rates or the weighted average rates or prices resulting from the respective auction, provided that there are no valuation prices from the Providers for said titles:

• BONDES;
• IPAB Securities;
• BREMS, and
• CETES.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
ANNEX 8
Model of mandate in favor of the Bank of Mexico to carry out charges and credits in the accounts that any institution holds for the deposit of securities on account of the celebration of repos to provide liquidity to the payment systems (INSTITUTION LETTERHEAD) Mexico, D.F., on ___ of ______ of 20__. BANCO DE MEXICO Management of Operations and Business Continuity of Payment Systems 5 de Mayo Avenue No. 6 Col. Centro, C.P. 06059, Mexico, D.F. Present. (Full Name of the Credit Institution) hereby grants a special and irrevocable power of attorney to the Bank of Mexico so that, on its behalf, it instructs (Full Name of the institution for the deposit of securities), to carry out all charges and credits in the accounts it holds for us, on account of the repo operations that are celebrated with that Central Bank and with the brokerage houses authorized by this institution to act on our behalf in the procedure to provide liquidity to the payment systems. For such purposes, the Bank of Mexico must send to the said institution for the deposit of securities the corresponding instructions. This credit institution will be responsible for the charge and credit requests that the Bank of Mexico carries out in compliance with the instructions that this institution sends through the "Repo Module to Provide Liquidity to the Payment System of the Account Holder Attention System of the Bank of Mexico. (Name, signature and position of the official or officials of the institution with powers to exercise acts of dominion) Copy for information: (Full Name of the corresponding institution for the deposit of securities). For your information.

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 9
Determination of the base amount to be used to calculate the maximum credit limits relative to the payment systems The Bank of Mexico will determine the credit limits and some other parameters regarding the payment systems, for each Institution, based on the amount resulting from the following formula:
C = the amount, expressed in millions of UDIs, that results according to the case, as follows:
a) It will be equal to the net capital -calculated in accordance with the general provisions referred to in article 50 of the Credit Institutions Law- corresponding to the Multiple Banking Institution, in case it is not a member of any financial group or belongs to a financial group in which only it participates as a Multiple Banking Institution, or b) It will be equal to the sum of the net capitals -calculated in accordance with the general provisions referred to in article 50 of the Credit Institutions Law- corresponding to the Multiple Banking Institutions that belong to the same financial group in which two or more of said Multiple Banking Institutions participate. In the case of Multiple Banking Institutions that belong to the same financial group, the credit limits will be distributed among the Multiple Banking Institutions of said financial group in proportion to the net capital of each of them, unless said Multiple Banking Institutions request the Payment Systems Directorate of the Bank of Mexico to establish proportions different from the aforementioned, using for this purpose the request whose model is attached as an Appendix, duly signed by authorized officials who have power to perform acts of dominion. This request must be accompanied by certified and simple copies of the deed in which the respective powers are recorded, as well as a simple copy of their official identifications. The aforementioned documentation must be presented at least three Banking Business Days in advance of the date on which the new distribution is intended to take effect. The Bank of Mexico will apply the limits calculated in accordance with articles 134, 139 and 209 of these Provisions from the first Banking Business Day of each month. To carry out said calculation, the net capital it will consider will be that determined in terms of the general provisions referred to in article 50 of the Credit Institutions Law, corresponding to the third month immediately preceding the month in question. Without prejudice to the foregoing, regarding Multiple Banking Institutions:
i) Constituted in the month for which the calculations are made, as well as in the month immediately preceding this, the net capital relative to the date on which the resources were effectively contributed for the constitution will be used; ii) Constituted in the second month immediately preceding the month for which the calculations are made, the net capital relative to the close of said second month will be used; iii) That have increased any of the items that make up their basic capital in the month immediately preceding the month for which the calculations are made, the net capital relative to the date on which the said increase was effectively carried out will be used, and iv) That have increased any of the items that make up their basic capital in the second month immediately preceding the month for which the calculations are made, the net capital relative to the close of said second month will be used. The provisions in sub-paragraphs iii) and iv) above will be applicable only if the Multiple Banking Institutions inform the net capital that was used as a reference to the Financial System Information Directorate of the Bank of Mexico, in the manner it establishes. Regarding Development Banking Institutions, the Bank of Mexico may authorize the use of a net capital relative to a date subsequent to the one indicated. In the event that any Institution reports a negative net capital for the calculation date, said capital will be considered equal to zero.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section) Without prejudice to the foregoing, the Bank of Mexico may decrease any of the mentioned limits. Likewise, it may establish for any Institution in particular, limits different from those corresponding to it in terms of this Annex and the cited numerals.
APPENDIX
Request to modify the distribution of the maximum credit limit relative to the RSP and SICAM among the multiple banking institutions that are part of the same financial group (LETTERHEAD OF THE MULTIPLE BANKING INSTITUTION) Mexico, D.F., on ___ of ______ of 20__. BANCO DE MEXICO. Payment Systems Directorate 5 de Mayo Avenue No. 6 Col. Centro, C.P. 06059, Mexico, D.F. Present. (Full Name of the Multiple Banking Institution) irrevocably instructs the Bank of Mexico so that, in accordance with the provisions of articles 134, 139, 209, as well as Annex 9 of the "Applicable Provisions for the operations of credit institutions and the Rural Financial Institution", it distributes among them, from the first banking business day of the next month, the maximum credit limit and other parameters that correspond to them in the payment systems in proportion to the following percentages:
NAME OF THE INSTITUTION PERCENTAGE

---

---

---

Sincerely,
(NAME OF THE MULTIPLE BANKING INSTITUTIONS)
(Name, signature and position of the official or officials of the institution with powers to exercise acts of dominion)

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 10
Model of mandate in favor of the Bank of Mexico to carry out charges and credits in the accounts that any institution holds for the deposit of securities (INSTITUTION LETTERHEAD) Mexico, D.F., on ___ of ______ of 20__.
BANCO DE MEXICO
Operations Management Department.
5 de Mayo Avenue No. 6
Col. Centro, C.P. 06059, Mexico, D.F.
Present.
(Full Name of the Credit Institution) hereby grants a special and irrevocable power of attorney to the Bank of Mexico so that, on its behalf, it instructs (Full Name of the institution for the deposit of securities), to carry out all charges and credits in the accounts it holds for us, on account of the repo operations that are celebrated: a) for the determination of the Interbank Equilibrium Interest Rate in national currency; b) in the Liquidity Auctions, and c) in the procedure to be followed in case of insufficient resources to liquidate the amount of government securities. For such purposes, the Bank of Mexico must send to the said institution for the deposit of securities the aforementioned instructions. This credit institution will be responsible for the charge and credit requests that the Bank of Mexico carries out in compliance with the instructions that the Bank of Mexico sends to the referred institution for the deposit of securities. Sincerely, (Name, signature and position of the official or officials of the institution with powers to exercise acts of dominion) Copy for information: (Full Name of the corresponding institution for the deposit of securities). For your information. Payment Systems Directorate

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
ANNEX 11
Procedure for the calculation of the TIIE

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 12
Format to participate in the determination of the TIIE (CREDIT INSTITUTION LETTERHEAD) Mexico, D.F., on __ of __.
BANCO DE MEXICO
National Operations Management,
5 de Mayo Avenue No. 6
Col. Centro, C.P. 06059,
Mexico, D.F.
Present.
Name of the Multiple Banking Institution: _____________________________________ Multiple Banking Institution Key at the Bank of Mexico: ____________________ Interest Rate (percent) Quoted Amount (millions of pesos) Term in weeks . _____________ _____________ The aforementioned quotation is mandatory and irrevocable and will produce the broadest effects that correspond in law. Sincerely, (Name and signature of authorized officials)

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
ANNEX 13
Request to participate in the determination of the exchange rate to settle obligations denominated in Dollars payable in the Mexican Republic (CREDIT INSTITUTION LETTERHEAD) Mexico, D.F., on ___ of ______ of __.
BANCO DE MEXICO
National Operations Management,
5 de Mayo Avenue No. 6
Col. Centro, C.P. 06059,
Mexico, D.F.
Present.
Through this document (Full Name of the credit institution), expresses its interest in participating in the determination of the exchange rate to settle obligations denominated in Dollars payable in the Mexican Republic, in accordance with the Bank of Mexico provisions applicable. To this effect, at this act this credit institution, accepts to submit to the aforementioned provisions, obliges itself to present quotations when the Bank of Mexico requests it, as well as to participate in the dollar purchases and sales referred to in the Bank of Mexico provisions, when it so determines. Sincerely, (Name, signature and position of the authorized official or officials)

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 14
Calculation Algorithm

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
ANNEX 15
Model of request to participate in the Liquidity Auctions (CREDIT INSTITUTION LETTERHEAD) Mexico, D.F., on ___ of _________ of __.
BANCO DE MEXICO
National Operations Management,
5 de Mayo Avenue No. 6
Col. Centro, C.P. 06059,
Mexico, D.F.
Present.
Bidder Name: _____________________________
Bidder Key at the Bank of Mexico: _____________________________ BIDS:
Interest Rate Amount Term
_______ _______ ______millions of pesos ______________ ______millions of pesos ______________ ______millions of pesos ______________ INTEREST RATES must be expressed up to TWO decimal places.
The aforementioned bids are mandatory and irrevocable; they will produce the broadest effects that correspond in law, and imply our acceptance to all and each of the provisions applicable to the Deposit Auctions and Liquidity Auctions contained in the "Applicable Provisions for the operations of credit institutions and the Rural Financial Institution", as well as to the terms and conditions of the call of date ____ of _____________of _____. Sincerely, (Name of the bidder) (Name and signature of authorized officials) NOTE: Unused spaces must be cancelled.

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 16
Grounds for return of checks
It is noted that this document was presented in time for payment in the clearing chamber on (dd/mm/yyyy) and that the drawer refused payment for the causes indicated below:

• Insufficient funds.
• Specify another cause______________________ ____________________________________.
  This annotation serves as protest in accordance with articles 182 and 190 of the General Law of Titles and Credit Operations.
  RETURNED
  GROUNDS FOR RETURN

1. Insufficient funds according to our books (Art. 175).
2. It is altered (Art. 8).
3. The drawer does not have an account with us (Art. 175).
4. It is collected for an amount different from its value (Art. 16).
5. Missing the drawer's signature (Art. 176). 15. Lacks a date (Art. 176).
6. The drawer's signature is not like the one we have registered (Art. 194).
7. Check with the same number as another that has already been paid (Art. 175).
8. The check numbering:
   A) Does not correspond to that of the skeletons provided to the drawer (Art. 175).
   B) Corresponds to that of a book that was reported lost (Art. 194).
9. It is mutilated or deteriorated. (Art. 75)
10. It is not our responsibility (Art. 175). 18. It is not compensable.
11. We have a judicial order not to pay it (Art. 42 and following).
12. For not meeting the legal mentions and requirements (Arts. 14 and 176).
13. It has been revoked and the legal term for presentation has expired (Art. 185).
14. It does not contain the unconditional order to pay money (Incorrect monetary unit) (Art. 176 fraction III).
15. The drawer is in a state of bankruptcy, composition or suspension of payments (Art. 188).
16. For a cause attributable to the drawee bank (Art. 184).
17. There is no continuity in the endorsements (Art. 39). 22. Bearer check issued for an amount greater than allowed (Art. 179).
18. For having been improperly negotiated (Arts. 179, 199, 200 and 201).
19. Check presumably falsified (Art. 175).
20. It is payable in another currency. 24. ____________________________
    NOTE: The cited articles are from the General Law of Titles and Credit Operations.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)
ANNEX 17
Model of mandate in favor of the Bank of Mexico to carry out national currency compensation (CREDIT INSTITUTION LETTERHEAD) Mexico, D.F., on ___ of ______ of 20__.
BANCO DE MEXICO
Management of Operations and Business Continuity of Payment Systems 5 de Mayo Avenue No. 6 Col. Centro, C.P. 06059, Mexico, D.F.
Present.
(Full Name of the institution) authorizes and instructs the Bank of Mexico to carry out charges and credits, as the case may be, in the single national currency account it holds for us, up to the amount resulting from the compensation at our charge or in our favor, respectively, based on the information it provides on our behalf (Full Name of the respective Clearing House). Similarly, at this act, that Central Bank is authorized and instructed to carry out charges and credits, as the case may be, in the said single account, up to the amounts required to exercise the credit lines that we grant or receive, respectively, from other institutions for the realization of the compensation. The authorizations and instructions referred to in this document may only be modified or revoked, through written communication addressed to that Payment Systems Directorate and presented with an advance of at least one banking business day to the date on which the modification or revocation is intended to take effect. Sincerely, (Name, signature and position of the official or officials of the institution with powers to exercise acts of dominion) Copy for information (Full Name of the respective Clearing House). For your information.

(Third Section) OFFICIAL GAZETTE Friday, March 2, 2012
ANNEX 18
Foreign Currency Operations that should not be included in the computation of the Foreign Exchange Risk Position The following Foreign Currency Operations should not be included in the computation of the Foreign Exchange Risk Position:
For Credit Institutions

1. Other accounts receivable (account 1400), except debtors for settlement of operations (account 1401 01 00).
2. Adjudicated assets (account 1500).
3. Real estate, furniture and equipment (account 1600).
4. Permanent investments in shares (account 1700).
5. Deferred taxes (in favor) (account 1800).
6. Other assets (account 1900).
7. Income tax and workers' participation in profits to be paid (account 2401 00 00).
8. Other liabilities derived from the provision of banking services (account 2402 01 90).
9. Commissions and premiums to be paid on outstanding operations (account 2402 03 0).
10. Supplier financing (account 2402 04 00).
11. Dividends to be paid (account 2402 05 00).
12. Maintenance (account 2402 06 00).
13. Value added tax (account 2402 07 00).
14. Other taxes and duties payable by the institution (account 2402 08 00).
15. Taxes and social security contributions withheld for remittance (account 2402 09 00).
16. Provisions for retirement labor obligations (account 2402 10 00).
17. Additional obligations for retirement labor benefits (account 2402 11 00).
18. Provisions for various obligations (account 2402 12 00).
19. Subordinated obligations of mandatory conversion (account 2701 01 00) and instruments of mandatory conversion banking capitalization.
20. Deferred taxes (payable) (account 2800).
21. Deferred credits (account 2900).
22. Accrued, uncollected or unpaid interest, as the case may be, not considered in the book value referred to in article 19 of these Provisions.
23. Operations or that part of them, referred to precious metals or to any underlying that is not "financial".
    Additionally, the following operations should not be counted:
    For Multiple Banking Institutions
24. Other creditors.
25. Irrevocable commercial credits, related to operations where a Multiple Banking Institution confirms letters of credit issued by financial entities abroad with Liquidity Requirement Rating.
26. Credits subject to the credit portfolio cash flow participation scheme with the Institute for the Protection of Bank Savings (IPAB).
27. Liabilities for flows to be delivered from the "EPF" (Account 2172 00 00).
    For Development Banking Institutions
28. Credits granted as agent of the Federal Government (account 1331 00 00).
29. Loans as agent of the Federal Government (account 2160 00 00).

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 19
Determination of the factors to be applied according to the Days to Maturity of liabilities and the second-degree polynomial

1. Factors to be applied according to the Days to Maturity of liabilities.

Days to Maturity Factor
1 0.5000
2 0.48319
3 0.46668
4 0.45045
5 0.43450
6 0.41885
7 0.40348
8 0.38839
9 0.37360
10 0.35909
11 0.34487
12 0.33094
13 0.31729
14 0.30394
15 0.29086
16 0.27808
17 0.26558
18 0.25338
19 0.24145
20 0.22982
21 0.21847
22 0.20741
23 0.19664
24 0.18615
25 0.17596
26 0.16604
27 0.15642
28 0.14708
29 0.13804
30 0.12927
31 0.12080

OFFICIAL GAZETTE Friday, March 2, 2012 (Third Section) 32 0.11261 33 0.10471 34 0.09710 35 0.08977 36 0.08274 37 0.07598 38 0.06952 39 0.06334 40 0.05745 41 0.05185 42 0.04654 43 0.04151 44 0.03677 45 0.03232 46 0.02815 47 0.02427 48 0.02068 49 0.01738 50 0.01436 51 0.01163 52 0.00919 53 0.00704 54 0.00517 55 0.00359 56 0.00230 57 0.00129 58 0.00057 59 0.00014 60 0.00000

2. Second-Degree Polynomial used to find the aforementioned factors

Where:
x = number of days to maturity, for X = 1, 2,...,60 F(x) = factor for day x

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 20
Calendar of periods for calculation purposes regarding Shortfalls in Liquid Assets

Initial Date of Period Final Date of Period
June 07, 2012 July 04, 2012
July 05, 2012 August 01, 2012
August 02, 2012 August 29, 2012
August 30, 2012 September 26, 2012
September 27, 2012 October 24, 2012
October 25, 2012 November 21, 2012
November 22, 2012 December 19, 2012
December 20, 2012 January 16, 2013
January 17, 2013 February 13, 2013
February 14, 2013 March 13, 2013
March 14, 2013 April 10, 2013
April 11, 2013 May 08, 2013
May 09, 2013 June 05, 2013
June 06, 2013 July 03, 2013
July 04, 2013 July 31, 2013
August 01, 2013 August 28, 2013
August 29, 2013 September 25, 2013
September 26, 2013 October 23, 2013
October 24, 2013 November 20, 2013
November 21, 2013 December 18, 2013
December 19, 2013 January 15, 2014

OFFICIAL GAZETTE (Third Section) Friday, March 2, 2012

ANNEX 21
Classification of Foreign Currency Checking Accounts

For the purposes of the admission of liabilities and investment regimes for Foreign Currency Operations, foreign currency checking accounts shall be classified as follows:
a) Their amount shall be classified into three parts:

PART 1
Where:
P1 = PART 1 of the accounts, for the Day being counted.
PMAC1 = Sum of the accounts, in monthly average of daily balances, that in the month immediately preceding the Day being counted have accrued an interest rate equal to or less than fifty percent of the LIBOR RATE.
PMACt = Amount of the total accounts, in monthly average of daily balances, recorded in the month immediately preceding the Day being counted.
SDCt = Balance, on the Day being counted, of the total accounts.

PART 2
Where:
P2 = PART 2 of the accounts, for the Day being counted.
PMAC2 = Sum of the accounts, in monthly average of daily balances, that in the month immediately preceding the Day being counted have accrued an interest rate higher than fifty percent and not greater than seventy-five percent of the LIBOR RATE. PMACt = Amount of the total accounts, in monthly average of daily balances, recorded in the month immediately preceding the Day being counted. SDCt = Balance, on the Day being counted, of the total accounts.

PART 3
Where:
P3 = PART 3 of the accounts, for the Day being counted.
PMAC3 = Sum of the accounts, in monthly average of daily balances, that in the month immediately preceding the Day being counted have accrued an interest rate above seventy-five percent of the LIBOR RATE.
PMACt = Amount of the total accounts, in monthly average of daily balances, recorded in the month immediately preceding the Day being counted.
SDCt = Balance, on the Day being counted, of the total accounts.

b) PART 1 shall be divided by 60 and the resulting amount shall count for each of the Days from 1 to 60, PART 2 shall be divided by 30 and the resulting amount shall count for each of the Days from 1 to 30, and PART 3 shall count at 1 Day.

For these purposes, the LIBOR RATE shall be the monthly average of the month immediately preceding the Day being counted, of the annual rate offered in the interbank market for Dollars in the city of London, England, for three-month deposits, made known by Reuters at 11:00 hours, time in that city. For the calculation of said monthly average, the corresponding rate of each Day of the aforementioned month immediately preceding the Day being counted shall be considered and the rate relative to the immediately preceding Banking Business Day shall be applied for non-business days.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 22
Foreign Currency Operations that shall not be included in the calculation of the admission of liabilities and investment regimes for Foreign Currency Operations

The following shall not be included in the calculation of the limits for admission of liabilities and the investment regime for Foreign Currency Operations:

For Credit Institutions

1. Other accounts receivable (account 1400), except debtors for settlement of operations (account 1401 01 00).
2. Assets adjudicated (account 1500).
3. Real estate, furniture and equipment (account 1600).
4. Permanent investments in shares (account 1700).
5. Deferred taxes (in favor) (account 1800).
6. Other assets (account 1900).
7. Income tax and workers' profit sharing to be paid (account 2401 00 00).
8. Other liabilities derived from the provision of banking services (account 2402 01 90).
9. Commissions and premiums to be paid on outstanding operations (account 2402 03 0).
10. Supplier financing (account 2402 04 00).
11. Dividends to be paid (account 2402 05 00).
12. Maintenance (account 2402 06 00).
13. Value added tax (account 2402 07 00).
14. Other taxes and duties owed by the institution to be paid (account 2402 08 00).
15. Taxes and social security contributions withheld for remittance (account 2402 09 00).
16. Provisions for retirement labor obligations (account 2402 10 00).
17. Additional obligations for retirement labor benefits (account 2402 11 00).
18. Provisions for miscellaneous obligations (account 2402 12 00).
19. Subordinated obligations of mandatory conversion (account 2701 01 00) and instruments of mandatory conversion banking capitalization.
20. Deferred taxes (to be paid) (account 2800).

OFFICIAL GAZETTE (Third Section) Friday, March 2, 2012
21. Deferred credits (account 2900).
22. Accrued, uncollected or unpaid interest, as the case may be, not considered in the book value referred to in article 19 of these Provisions.
23. Operations or that part of them, referring to precious metals or to any underlying that is not "financial".

Additionally, the following operations shall not count:

For Multiple Banking Institutions

1. Credits with D and E rating.
2. Overdue credit portfolio (account 1350 00 00).
3. Preventive estimate for credit risks (account 1390 00 00), in the part corresponding to the portfolio indicated in the previous points 1 and 2.
4. Operations between the institution and its agencies and branches abroad, between said agencies and branches, between the institution and the financial subsidiary entities that are included for the purposes of what is provided in Section II of Chapter I, between these latter, and between these and the aforementioned agencies and branches.
5. Other creditors.
6. Irrevocable commercial credits, relating to operations where an institution confirms letters of credit issued by financial entities abroad with rating for liquidity requirement.
7. Credits subject to the scheme of participation in credit portfolio cash flows with the Institute for the Protection of Bank Savings (IPAB).
8. Liabilities for flows to be delivered from the "EPF" (account 2172 00 00).
9. Amount in U.S. Dollars, assigned as a result of the participation of these institutions in the dollar credit auctions held by the Bank of Mexico, under Circular 8/2009 dated April 15, 2009.

For Development Banking Institutions

1. Credits granted as agent of the Federal Government (account 1331 00 00).
2. Loans as agent of the Federal Government (account 2160 00 00).

NOTE.- The accounting accounts indicated were taken from the last catalog of the National Banking and Securities Commission in which said Commission established numbers for their identification.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section)

ANNEX 23
Classification of liabilities

Passive operations in national currency and in foreign currency that, among others, Multiple Banking Institutions are authorized to contract, are indicated below.

GROUP I
2101 Checking accounts, except subaccounts 2101010201, 2101010202 and 2101020201, relating to cash from tax collection, checks drawn on the own Multiple Banking Institution from tax collection, and checks drawn on other Multiple Banking Institutions from tax collection, respectively. 2102 Savings accounts. 2103 Withdrawable deposits on predetermined days. 2104 Time deposits. 2106 Bank bonds in circulation. 2109 Promissory notes with yield liquidated at maturity. 2116 Time deposits in personal special accounts for savings. 2120 Subordinated obligations in circulation. 2121 Subordinated obligations in national currency. 2134 Checking accounts in Dollars. 2136 Demand deposits in current account with interest. 2138 Deposits of companies and resident individuals abroad, received by the institutions' branches abroad. 2305 Acceptances on behalf of clients. 6403 Liabilities for guarantees.

GROUP II
2101 Checking accounts, exclusively subaccounts 2101010201, 2101010202 and 2101020201, relating to cash from tax collection, checks drawn on the own Multiple Banking Institution from tax collection, and checks drawn on other Multiple Banking Institutions from tax collection, respectively. 2108 Deposits without fixed withdrawal term. 2141 Fiduciary checking account for participation in portfolio cash flows with Fobaproa. 2301 Cashier's checks. 2302 Certified checks. 2303 Letters of credit. 2304 Drafts to be paid. 2308 Deposits in guarantee. 2309 Creditors for interest.

OFFICIAL GAZETTE (Third Section) Friday, March 2, 2012 2310 Creditors for overdue obligations.
2311 Miscellaneous creditors.
2312 Deposits and obligations not subject to investment.
2314 Deposits for amortization and interest services.
2315 VAT to be paid.
2316 Tax collections and similar.
2317 Deposits to make investments on behalf of third parties.
2318 Traveler's checks in national currency.
2319 Loans from the Federal Government.
2321 ISSSTE deposits relating to the Retirement Savings System (SAR).
2324 Deposits for Fovissste credit amortizations.
2327 Dividends and interest coupons on securities to be delivered received on loan.
2329 Loans from insurance institutions.
2330 Creditors for settlement of operations.
2331 Premiums to be paid in securities lending operations.
2332 Collections on behalf of IMSS and contributions to INFONAVIT.

GROUP III
2201 Bank deposits at term.
2202 Bank loans.
2203 Deposits and loans from foreign banks.

Creditor balances of asset accounts:
1103 Banks.
05 From abroad (creditor balance resulting after individually compensating remittances in transit owed by foreign banks).
1107 Correspondents, from abroad, (creditor balance resulting after individually compensating debtor balances and remittances in transit with each correspondent).

GROUP IV
2409 Creditors for repo of government securities.

GROUP V
2306 Loans from public fiduciary funds.
2313 Declared dividends.
2401 Futures to be delivered.

Friday, March 2, 2012 OFFICIAL GAZETTE (Third Section) 2410 Repos, government securities to be delivered.
2411 Creditors for repo of bank securities.
2412 Repos - Bank securities to be delivered.
2413 Creditors for repo of own securities.
2501 Provision for retirement labor obligations.
2503 Provisions for miscellaneous obligations.
2505 Preventive provisions for coverage of credit risks.
6404 Liabilities for bonds.
6405 Irrevocable commercial credits granted.

Other accounts: Contingent letters of credit or common guarantees commonly known as "standby" and bank guarantees, issued based on the opening of irrevocable credits, to which the Uniform Rules and Practices Relating to Documentary Credits, publication No. 500, as well as the Uniform Rules for Demand Guarantees, publication No. 458, the Uniform Rules for Contractual Guarantees, publication No. 325 and the International Standby Practices 1998, publication No. 590, of the International Chamber of Commerce. 1/ 6406 Pending claims.

The accounts comprised in group 26 of the Chart of Accounts approved by the National Banking and Securities Commission.

1/ Regardless of the accounting account where they are registered.

TRANSITORY PROVISIONS

FIRST. This Circular shall enter into force on June 1, 2012.

SECOND. From the entry into force of this Circular, the following provisions are repealed:
I. Circular 2019/95 of September 20, 1995 addressed to Multiple Banking Institutions;
II. Provisions applicable to the determination of the exchange rate to settle obligations denominated in foreign currency payable in the Mexican Republic, published in the Official Gazette of the Federation on March 22, 1996.
III. Circular 1/2006 of January 27, 2006 addressed to Development Banking Institutions and the Rural Financial Institution.
IV. Circular 23/2008 containing the "General Provisions referred to in article 179 of the General Law of Negotiable Instruments and Credit Operations, to determine the amount from which checks must be nominative", published in the Official Gazette of the Federation on June 3, 2008;
V. Circular 25/2008 containing the "General Provisions for the transfer of salary, pensions and other labor benefits, in accordance with what is provided in article 18 of the law for transparency and ordering of financial services", published in the Official Gazette of the Federation on June 11, 2008, and
VI. Circular 23/2009 containing the "Rules for Direct Debit in bank deposit accounts", published in the Official Gazette of the Federation on September 22, 2009.

OFFICIAL GAZETTE (Third Section) Friday, March 2, 2012

THIRD. Institutions may open and maintain until February 15, 2013 accounts in which the sum of the credits during a calendar month does not exceed the equivalent in national currency to one thousand five hundred UDIS, provided that they meet the opening requirements provided for these accounts in the "General Provisions referred to in article 115 of the Credit Institutions Law" issued by the Ministry of Finance and Public Credit, published in the Official Gazette of the Federation on April 20, 2009. Such accounts shall be for exclusive use within national territory in terms of what is provided in section III of article 20 of these Provisions.

Except for what is stated in the previous paragraph, the provisions relating to level 2 accounts shall apply to these accounts.

FOURTH. Contracts that document the operation of the Single Account in national currency; the provision of SIAC-BANXICO services; the deposit of titles in administration; operations derived from liquidity auctions to participants in payment systems; repos to provide liquidity to payment systems, as well as operations relating to the procedure for the determination of the national currency interbank equilibrium interest rate, celebrated prior to the entry into force of these Provisions, shall retain their validity and full force in all and each of their stipulations, so it will not be required to sign new contracts due to what is provided in this Circular.

For this reason, the references to Circulars 2019/95 and 1/2006 provided for in the aforementioned contracts shall be understood as made to these Provisions.

FIFTH. Credit institutions that from June 1 of the current year wish to continue or begin carrying out the following activities: a) settle operations with CLS Bank International; b) celebrate repos through which liquidity is provided to payment systems; c) celebrate repos related to the procedure for the determination of the TIIE; d) celebrate repos related to liquidity auctions; e) celebrate repos to settle the amount of Government Securities assigned in the auctions mentioned in article 145; f) participate in the clearing of Documents, and g) modify the distribution of the maximum credit limit that Multiple Banking Institutions belonging to the same financial group grant to each other relative to the RSP and SICAM; shall deliver to the Bank of Mexico by May 18, 2012 the corresponding mandates prepared in accordance with the models attached to these Provisions as Annexes 6, 8, Appendix of 9, 10 and 17 of these Provisions.

Such mandates shall be signed by those who have the authority to exercise acts of dominion and shall be presented accompanied by the certified and simple copies of the deeds in which their authority is recorded, as well as the simple copy of their official identification.

Credit institutions that by May 18, 2012 at the latest have not delivered to the Bank of Mexico the respective mandates and corresponding documentation, shall not be able to carry out the activities in question until they deliver them in terms of what is provided in the articles of these Provisions.

SIXTH. The authorizations of the Bank of Mexico to Institutions to operate as Clearing Houses that have been granted prior to the entry into force of these Provisions shall retain their validity.

Mexico, D.F., February 24, 2012.- BANK OF MEXICO: The General Director of Central Banking Operations, Francisco Javier Duclaud González de Castilla.- Initialled.- The General Legal Director, Héctor Reynaldo Tinoco Jaramillo.- Initialled.- The General Director of Financial System Affairs, José Gerardo Quijano León.- Initialled.- The Director of Payment Systems, Ricardo Medina Alvarez.- Initialled.

For any consultation regarding the content of this Circular, please go to the Manager of Authorizations, Consultations and Legal Control, located at 5 de Mayo Avenue number 2, Centro Colony, Mexico, Federal District, C.P. 06059, or to the phones 5237.2308, 5237.2317 or 52372000 Ext. 3200.