Circular 30/2009 — Modifies Circular 2019/95

CIRCULAR 30/2009 Mexico, D.F., December 16, 2009 TO MULTIPLE BANKING INSTITUTIONS: SUBJECT: MODIFICATIONS TO CIRCULAR 2019/95

The Bank of Mexico, based on what is provided in Article 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; Articles 24 and 26 of the Bank of Mexico Law; Article 22 of the Law for Transparency and Order of Financial Services; as well as Articles 8°, third and sixth paragraphs, 10, 14, in relation to Article 25 fraction II and Article 17 fraction I, which provide the attributions of the General Directorate of Analysis of the Financial System and the Directorate of Central Banking Provisions, respectively, to participate in the issuance of provisions, all of them of the Internal Regulations of the Bank of Mexico; as well as in the Sole Article of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, fractions III and IV, and with the objective of promoting the sound development of the financial system by making clarifications to the regime applicable to multiple banking institutions regarding the acceptance of promissory notes in national currency, as well as regulating the acceptance of promissory notes in foreign currency they carry out, has resolved to modify numeral M.11.5; add numeral M.12.8, as well as repeal numerales M.11.51., M.11.52., M.11.52.1, M.11.53. and M.11.54., all of Circular 2019/95, to remain in the following terms:

M.1 PASSIVE OPERATIONS M.11. CHARACTERISTICS OF OPERATIONS IN NATIONAL CURRENCY

“M.11.5 BANK ACCEPTANCES

Institutions may accept promissory notes in national currency when:

i) They have previously received their amount or have contracted a credit or a credit line 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.”

“M.11.51. Repealed”

“M.11.52. Repealed”

“M.11.52.1 Repealed”

“M.11.53. Repealed”

“M.11.54. Repealed”

M.12. CHARACTERISTICS OF OPERATIONS IN FOREIGN CURRENCY

“M.12.8 BANK ACCEPTANCES

Institutions may accept promissory notes in foreign currency when:

i) They have previously received their amount or have contracted a credit or a credit line 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.”

TRANSITORY SINGLE. This Circular shall enter into force on January 11, 2010.