Circular 30/2020 — Modifies Circular 20/2020

154 OFFICIAL GAZETTE Wednesday, August 19, 2020 BANCO DE MÉXICO CIRCULAR 30/2020 addressed to Multiple Banking and Development Banking institutions regarding the Rules applicable to the provision of resources to Credit Institutions to channel credit to micro, small, and medium-sized enterprises, as well as to natural persons.

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

CIRCULAR 30/2020 TO MULTIPLE BANKING AND DEVELOPMENT BANKING INSTITUTIONS: SUBJECT: RULES APPLICABLE TO THE PROVISION OF RESOURCES TO CREDIT INSTITUTIONS TO CHANNEL CREDIT TO MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISES, AS WELL AS TO NATURAL PERSONS.

The Bank of Mexico, considering the impacts that the COVID-19 pandemic has had on the global economy and on the behavior of the financial markets in our country, as well as on the channels for granting credit, has deemed it necessary to make adjustments to the facilities for providing resources to banking institutions for the financing of micro, small, and medium-sized enterprises, as well as of natural persons affected by the aforementioned pandemic, with the purpose of contributing to the existence of conditions that facilitate credit institutions in fulfilling their priority function of providing financing to the economy. The modifications to the operations subject to this facility will be framed within the financing scenarios recognized by law, in accordance with the mandate and parameters that the Political Constitution of the United Mexican States imposes on the Central Bank, ensuring at all times that they fully comply with the objectives and financing limitations established in the Bank of Mexico Law. The facilities that, like this one, the Bank of Mexico has implemented in response to the prevailing conditions of economic and financial stress, have been designed with the purpose that financial institutions that can access these facilities continue to fulfill their function as credit grantors to the people and companies of the country, without this extending to related parties within their respective corporate structures.

For the above reason, based on articles 25, second paragraph, 28, sixth and seventh paragraphs, of the Political Constitution of the United Mexican States, 7, fractions I, II and X, 8, 14, first paragraph, 15, 16, 24, 28 and 36 of the Bank of Mexico Law, 54 and 96 Bis of the Credit Institutions Law, 22 of the Law for Transparency and Order of Financial Services, 4, first paragraph, 8, fourth and eighth paragraphs, 10, 12 Bis, first paragraph, in relation to 20 Ter, fraction II, and 20 Quáter, fractions II and IV, 14 Bis, first paragraph, in relation to 17, fraction I, 14 Bis 1, first paragraph, in relation to 25 Bis 1, fraction IV, 19 Bis 1, fractions I and XI, and 25, fraction VII, of the Internal Regulations of the Bank of Mexico, which grant the authority to issue provisions through the General Directorate of Payment Systems and Market Infrastructures, the General Directorate of Financial Stability, the General Legal Directorate, the General Directorate of Affairs of the Financial System, and the Support for Operations Directorate respectively, as well as Second, fractions I, IV, VI, X and XVII, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, has resolved the following:

FIRST. The definitions of "Eligible Currency" and "MiPyME", the fourth, seventh, ninth and tenth paragraphs of section 2.1, section 2.2, the sections "Term for the execution of repo operations" and "Term of the repo" of section 2.3, section 3.1, the first, second and third paragraphs of section 3.2, the first paragraph of section 3.3, section 3.4, as well as Annex 1, Annex 2 and Annex 3; paragraph eight is added and the subsequent ones are renumbered in section 2.1, as well as the Appendix to the "Rules applicable to the provision of resources to credit institutions to channel credit to micro, small, and medium-sized enterprises, as well as to natural persons", issued by the Bank of Mexico through Circular 20/2020, to remain as follows:

RULES APPLICABLE TO THE PROVISION OF RESOURCES TO CREDIT INSTITUTIONS TO CHANNEL CREDIT TO MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISES, AS WELL AS TO NATURAL PERSONS

"1. Definitions. … "Eligible Currency: the Australian dollar, Canadian dollar, United States dollar, New Zealand dollar, euro of the corresponding countries of the European Union, British pound of the United Kingdom of Great Britain and Northern Ireland and Japanese yen." … "MiPyME: the micro, small and medium-sized enterprise, understood as that legal person or natural person with business activity that has a number of employees that does not exceed 250 and that, in case it has entered into one or more financings that remain in force at the moment when such Institution obtains resources from the Bank of Mexico in accordance with these Rules, the sum of the principal amounts of said financings, on the date of their origination, is not greater, in total, to 50 million pesos for each of those enterprises." … "2.1 Conditions for the granting of resources. … … … Institutions must present, through the electronic, computing or telecommunication medium indicated for this purpose in the respective calls, the aforementioned requests in the weeks and schedules indicated in said calls, in accordance with the format attached to these Rules as Annex 1. In each of said requests, the respective Institution must specify the following: (i) if applicable, the provision requiring the use of the entire requested amount in a single payment on the date established for this purpose in accordance with these Rules, or the indication that the use of the total requested amount will be carried out in installments in accordance with what is provided in these same Rules, during a term that will not exceed ninety (90) natural days counted from the day on which the Bank of Mexico has assigned the resources corresponding to said request; (ii) in case it requests the disbursement in installments, it must indicate the amount of the first disbursement it requires to make, of the total that the Bank of Mexico assigns to it as a result of said request; (iii) regarding the repo operations it offers to carry out in accordance with these Rules, the terms among those permitted in the following section 2.3 to which it is willing to celebrate said operations; (iv) the proportion of permitted credit operations that, with the resources it obtains from the Bank of Mexico in accordance with these Rules, it intends to celebrate with MiPyMEs and the proportion of those other permitted operations it intends to celebrate with natural persons under the conditions provided in these same Rules; (v) if applicable, the number of enterprises with which it intends to celebrate the aforementioned credit operations, regarding which such Institution declares that it is not possible for it to verify the number of employees that such enterprises have, under the assumption that the Institution may only celebrate with said enterprises the credit operations referred to in these Rules provided that the sum of the principal amounts of those operations does not exceed one-third of the total amount assigned by the Bank of Mexico as a result of said request, and (vi) in case the Institution intends to celebrate the aforementioned credit operations through non-bank financial entities, it must specify the names of these, the types of entities to which they correspond and the respective keys of the Registry System of Financial Service Providers administered by the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF). … … In the scenario contemplated in the previous paragraph, the Institution in question may request in the requests it presents in accordance with this section that, in case the Bank of Mexico authorizes it to withdraw an amount less than the total requested from Monetary Regulation Deposits, the celebration of repos in accordance with these Rules be carried out for the remaining amount of the total requested. For these purposes, the Institution must indicate, in the same request, the titles it possesses, among those indicated in these Rules, to celebrate repo operations for the amount equivalent to that of the corresponding disbursement of the total resources assigned by the Bank of Mexico for this same type of operations. Institutions may celebrate the repos referred to in these Rules only in case they do not have available resources in Monetary Regulation Deposits, or in the event that they do have such resources, the Bank of Mexico has authorized the granting of a part of those resources, or in the respective requests they present to the Bank of Mexico, they have manifested their determination to maintain said Monetary Regulation Deposits to adequately manage their liquidity. Additionally, in case the Institution in question has requested the disbursement in installments of the resources derived from the withdrawals of Monetary Regulation Deposits or from the repos to be celebrated in accordance with these Rules, it must present the second and subsequent requests for the corresponding partial disbursements on the Banking Business Day of the week that determines it, prior to the expiration of the term of ninety (90) natural days from the day on which the Bank of Mexico has assigned said resources. In the scenario of each partial disbursement that the Institution requests, it will obtain, first, the resources derived from the withdrawal that, if applicable, must be made from its Monetary Regulation Deposit in accordance with what is provided in these Rules and, second, from the repo operations it celebrates, as appropriate. In all cases, the sum of the amounts of all partial disbursements within the referred term of ninety (90) natural days must not exceed the total assigned amount. However, if the sum of the partial disbursements requested by the Institution is less than the total assigned amount at the end of the referred ninety-day term, no penalty will be applied for that sole reason. Once the one-week term indicated in the respective call for the receipt of the requests referred to in this section concludes, the Bank of Mexico will analyze said requests during the immediately following week and, no later than the last Banking Business Day of that last week, it will inform the Institutions of the assignment of the resources subject to these Rules. For these purposes, the Bank of Mexico will attend to the requests presented by the Institutions in accordance with what is provided in the previous paragraphs and, from the respective amounts they have requested, it will assign those that are appropriate in accordance with what is indicated in this section, which it will make known to the Institutions through the electronic, computing or telecommunication medium indicated for this purpose by the Bank of Mexico in the respective call. In case the total amount indicated in all requests exceeds the available amount determined by the Bank of Mexico, it will carry out the assignment pro rata, that is, proportionally to the amounts requested by each Institution. Regarding the disbursement of the resources corresponding to the repos celebrated based on the assignment indicated above, this will be subject to the prior transfer of the titles subject to such repos in the respective securities deposit accounts that Indeval maintains for the Bank of Mexico or, in case of those titles denominated in Eligible Currencies, to the custody accounts abroad corresponding. The applicable accounts, as well as the applicable schedules, will correspond to those specified in the Manual. Regarding the disbursement of the total assigned amount that the Institution in question has requested in a single payment or the first installment that it has indicated in the request it has presented in accordance with the above, the titles subject to the repo for the corresponding amount must be deposited on the Banking Business Day following the day on which the Bank of Mexico has notified the respective assignment, in accordance with what is provided in the Manual. Likewise, in case the Institution has requested to disburse the assigned resources in installments, once, during the term of ninety (90) natural days from the day on which the Bank of Mexico has assigned said resources, it presents its request for the corresponding partial disbursement in accordance with the above, the titles subject to the repo relative to the amount of the installment must be deposited on the Banking Business Day following the day on which the Institution has presented the aforementioned request. Only those Institutions that comply with the requirements established for each type of operation provided for this purpose in accordance with these same Rules may obtain from the Bank of Mexico the resources referred to in these Rules and that, in case the Bank of Mexico has assigned them resources in accordance with these Rules for requests presented previously, they have disposed of the entirety of said resources or the term of 90 days has concluded from the day corresponding to the assignment in question. Regarding development banking institutions, only those authorized to do so in accordance with applicable regulations may celebrate the aforementioned repos. Institutions that have obtained resources from the Bank of Mexico in accordance with these Rules may present new requests on the dates and schedules that it will make known in the following calls, even in case that, regarding the repo operations they have celebrated for this purpose, these remain in force on the dates when the new operations are celebrated.

The Bank of Mexico may not accept the requests for withdrawal of Monetary Regulation Deposits or repos presented by those Institutions that have not exercised the resources granted previously in accordance with these Rules for the granting of credits to MiPyMEs or to natural persons in terms of what is provided in this section."

"2.2 Withdrawals of Monetary Regulation Deposits. The disbursement of the resources corresponding to the withdrawals of Monetary Regulation Deposits, resulting from the assignments referred to in the previous section 2.1, will be carried out in accordance with what is provided in section 3.1 Quater of the Rules applicable to Monetary Regulation Deposits, issued by the Bank of Mexico through Circular 9/2014, published in the Official Gazette of the Federation, on June 9, 2014, as they may be modified subsequently. The Institution that falls under this scenario and that, in turn, is the holder of Reportable Monetary Regulation Bonds (BREMS R) —issued by the Bank of Mexico in accordance with the Rules for the auctions of Reportable Monetary Regulation Bonds (BREMS R) carried out by the Bank of Mexico, issued by this Central Institute through Circular 9/2016, published in the Official Gazette of the Federation on May 12, 2016, as they may be modified by subsequent resolutions— may use the total or partial amount corresponding to those titles to withdraw it from its Monetary Regulation Deposit. For these purposes, the indicated Institution must request to the Bank of Mexico itself, simultaneously with the presentation of the request referred to in section 2.1, as well as, if applicable, in the request for the partial disbursement it presents in accordance with the previous section 2.1, the settlement of said titles for the amount corresponding to the respective disbursement, through a communication prepared in accordance with the format included in Annex 2 of these Rules, in order for the corresponding cash amount to be credited to the Monetary Regulation Deposit so that, added to the other amount of the balance of the Monetary Regulation Deposit constituted in cash, it can be withdrawn up to the amount that the Institution has specified in the respective request, or up to the amount that the Bank of Mexico has authorized it to obtain in accordance with what is indicated in section 2.1."

"2.3 Repo operations. … … … Term for the execution of repo operations: To the Banking Business Day immediately following the day on which the Bank of Mexico has notified the respective assignment, subject to the delivery of the titles subject to the repo for the amount indicated in the request that the Institution has presented in accordance with what is established in the previous section 2.1, as assigned by the Bank of Mexico, corresponding to the total disbursement of said assigned amount that it has indicated to make in a single payment or, if applicable, to the first partial disbursement of said assigned amount that it has requested to make in installments. Likewise, in case the Institution has requested to carry out the disbursement in installments of the assigned amount derived from the repo operations, it must celebrate the subsequent repo operations to the first celebrated in accordance with the above, for the amount of the partial disbursement it has indicated in the request presented in accordance with the previous section 2.1, to the Banking Business Day immediately following the day on which it has presented said request, subject to the delivery of the titles subject to the repo for the amount corresponding in accordance with what is established in the cited section 2.1. Term of the repo: It will be 12, 24 or 36 months, in accordance with what is indicated by the Institution in its request, which may not exceed one thousand eighty (1,080) natural days, from the Banking Business Day immediately following the day on which the repo is perfected."

"3.1 Destination of resources. In the scenario where Institutions obtain resources from the Bank of Mexico through withdrawals of Monetary Regulation Deposits or from the repos celebrated in accordance with these Rules, they must dedicate them to the direct granting or, if applicable, indirect in the terms indicated for this purpose in this section, exclusively of new financings that may only consist of credits, financial leases or financial factoring celebrated with MiPyMEs, or in the increase of the amount of any of the aforementioned existing operations, through restructuring or refinancing indicated in this section or in any other way, with special attention to smaller-sized enterprises, as well as payroll credits, personal, automotive or mortgage credits for natural persons, subject to the limits and conditions established further ahead in this section. For the same purposes of the previous paragraph, Institutions may refer the resources they obtain from the Bank of Mexico to the credit operations or increases previously mentioned that they have celebrated with MiPyMEs, as well as, regarding natural persons, exclusively payroll and personal credits"

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granted to them or expansions of such credits, including restructuring or refinancing referred to, provided that the Institutions have entered into such credit operations with MiPyME or credits with individuals, as well as the expansions, restructuring or refinancing referred to, from June 2, 2020 onwards. Regarding automotive and mortgage credits granted to individuals, as well as expansions, restructuring and refinancing of such credits, Institutions may allocate the referred resources to these operations provided they have been entered into from August 19, 2020 onwards. In the case of the expansions, restructuring or refinancing referred to, these may be entered into with respect to the indicated credit operations that were entered into on any date, as long as they remain in force on the date of the respective expansion, restructuring or refinancing.

Likewise, Institutions may enter into restructuring or refinancing of the credits referred to in the previous paragraph that were granted previously, provided that, through such restructuring or refinancing, the respective debtors can have access to additional resources derived from those obtained by the Institutions in accordance with the operations provided for in these Rules. In this case, the Institutions must compute, for the purposes of these Rules, only the additional amounts derived from the operations subject to these same Rules.

The Institutions will enter into credits, financial leases and financial factoring, as well as their expansions, contemplated in the first paragraph of this section, and will carry out the restructuring and refinancing referred to in the previous paragraph, under their own account and risk, by virtue of which they will determine the terms and conditions applicable to them, without prejudice to those indicated in these Rules. Additionally, such credits, financial leases and financial factoring, as well as the expansions, restructuring and refinancing, may be associated with the support and guarantee programs of the development banking Institutions, in which case the Institutions granting them must subject them to the terms and conditions established in accordance with said programs.

In the case of those credits and financial leases entered into with resources coming from the Monetary Regulation Deposits, these must be granted for terms of no less than six months.

Regarding credits, financial leases or financial factoring entered into with MiPyME, the principal amount of these, as well as the additional amount granted as part of the restructuring or refinancing operation with resources derived from the operations subject to these Rules, shall not exceed 50 million pesos per each MiPyME.

For its part, regarding credits granted to individuals, as well as their respective expansions, the principal amount of these granted with resources derived from the operations subject to these Rules shall not exceed 192,500 pesos for payroll or personal credits, as well as 220,000 pesos for automotive credits. With respect to the referred mortgage credits, Institutions may only grant with the resources obtained from the Bank of Mexico in accordance with these Rules or refer to said resources up to 1,400,000 pesos per each individual who enters into that type of credit, even if the amount of this is greater than that amount. Additionally, the referred automotive credits will only have as their object the acquisition of new cars, backed by a real guarantee on said cars. In the case of the referred mortgage credits, these will consist of credits intended for the acquisition of real estate used for housing with a mortgage guarantee on said real estate or well, refinancing consisting of the granting of credits for the settlement of the same types of credits referred to.

With respect to those restructuring or refinancing of the credit operations that the Institutions have granted to MiPyME and individuals previously to obtaining the resources subject to these Rules, said Institutions may only make available to the respective debtor persons, as part of those restructuring or refinancing, the resources derived from the operations carried out in accordance with these Rules, provided that they agree to establish the same or better terms and conditions of term and rate as those stipulated in the contracts of the operations subject to the restructuring or financing in question.

The Institutions may also allocate the respective resources for the celebration or expansion of the referred credit operations, indirectly, through another non-bank financial entity, specified in the request referred to in section 2.1 above, to which the corresponding Institution, in turn, grants a credit for these purposes exclusively. In this case, the respective Institution must agree with said financial intermediary the terms and conditions applicable to the credit operations that the latter enters into, in its own name and on its own account, with the respective resources, as well as ensure obtaining from that intermediary the necessary information to present to the Bank of Mexico the report described in section 3.3 of these Rules. Regarding the credits to individuals contemplated in this section, said persons, at the time of granting the credit, must be

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accredited or account holders of the respective Institution or of that non-bank financial entity through which the credit is channeled or well, members of credit unions through which such channeling is carried out.

In accordance with what is stated above in this section, once the Institution in question has available, totally or partially in accordance with the above, the respective resources from those that the Bank of Mexico has assigned in accordance with these Rules, said Institution will have a term of 20 Banking Business Days subsequent to that in which the Bank of Mexico has made available the resources derived from the operations subject to these Rules, to, at the latest by the conclusion of such term, allocate said resources to the celebration or expansion of the previously referred credit operations and, if applicable, refer those other credit operations entered into from June 2, 2020 and August 19, 2020 that are allowed to be included for the calculation of the allocation of said resources in accordance with this section.

Regarding the resources derived from a repo agreement entered into in accordance with these Rules, in the event that the respective Institution has allocated part of those resources to the celebration or expansion of any of the credit operations provided for in these same Rules or has referred said resources to credit operations entered into from June 2 or August 19, 2020, as applicable in accordance with this section, and this receives, prior to the maturity of said repo, the payment of part or the entirety of the credit operation in question covered with the referred resources, it must allocate the resources from that payment to the celebration or expansion of a new credit operation in the terms described above, within a term of 20 Banking Business Days subsequent to that in which it has received said payment. Likewise, in the event that the corresponding Institution has allocated, within the term of 20 Banking Business Days mentioned, resources derived from the withdrawal of Monetary Regulation Deposits to the celebration of any of the previously referred credit operations or has referred said resources to credit operations entered into from June 2 or August 19, 2020, as applicable, and this receives the payment, at any time during the 125 Banking Business Days subsequent to the conclusion of that term, of part or the entirety of the credit operation in question, it must allocate the resources from that payment to the celebration of a new credit operation in the terms described above, within a term of 20 Banking Business Days subsequent to that in which it has received said payment.

The Institutions, in the course of their operation, may enter into credit operations with MiPyME and individuals in accordance with what is stated above, in proportions different from those indicated regarding this in the respective requests they have presented in accordance with section 2.1 above.

Regarding the credit operations that the corresponding Institution enters into with companies with respect to which the latter, in the request presented to the Bank of Mexico in accordance with what is indicated in section 2.1, fourth paragraph, item (v), above, has declared that it is not possible for it to verify the number of employees that such companies have, the number of these may not be greater than that indicated in said request. In this last case, the Institution may only enter into with said companies the referred credit operations from August 19, 2020 and, notwithstanding what is provided in the previous paragraph, the sum of the principal amounts of said operations may not exceed, in any case, the limit indicated in section 2.1, fourth paragraph, item (v), cited.

In the event that the Institutions obtain resources by virtue of the operations entered into in accordance with these Rules and do not allocate said resources to the celebration or expansion of credit operations or refer them to the other credit operations entered into from June 2 or August 19, 2020, in the terms established in these same Rules, they will be obliged to return to the Bank of Mexico the respective resources in the cases indicated in section 3.2 below.”

“3.2 Additional Conditions. In the event that the Bank of Mexico makes available to an Institution resources derived from the withdrawal of its Monetary Regulation Deposit in accordance with these Rules and that, within the term of 20 Banking Business Days subsequent to that in which the Bank of Mexico makes the credit of such resources in its Single Account, said Institution does not allocate the entirety of said resources to the celebration of credit operations previously described in these same Rules or refer them to the other credit operations entered into from June 2 or August 19, 2020 in accordance with the above, the Institution must return to the Monetary Regulation Deposit at the Bank of Mexico the amount that it has not allocated or referred to the mentioned credit operations.

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Likewise, in the event that any Institution enters into a repo in accordance with these Rules and, during the term of said repo, does not allocate or refer the entirety of the resources derived from said operation to the credit operations previously described in the terms established for this purpose in section 3.1 above, it must return to the Bank of Mexico the amount that it has not allocated or referred to the mentioned credit operations, in which case the repo will be considered prematurely matured and the parties may enter into a new repo, in the same terms, with the same maturity date as the previous one and with the same titles that cover, at least, the price equivalent to the amount of resources that the Institution has actually allocated or referred to the previously mentioned credit operations, plus the estimated Premium in accordance with the above for the remaining term and, if applicable, other agreed expenses.

In the cases referred to in the first two paragraphs of this section, the Bank of Mexico, within the 10 Banking Business Days immediately following that in which the Institution in question presents the weekly report that corresponds in accordance with section 3.3 below, on the credit operations that it has entered into or referred in the respective weeks within the term of 20 Banking Business Days that results applicable in accordance with said paragraphs or well, to that Banking Business Day established for the presentation of said report in which the Institution has omitted to report the referred credit operations, will send to that Institution a notification in which it will indicate the amount that it must return to the Bank of Mexico in accordance with the above, in order for this to manifest what is convenient for its rights, within the 3 Banking Business Days immediately following that in which it receives the mentioned notification. Additionally, in the event that, in accordance with the other information that the Bank of Mexico obtains in the exercise of its powers, it presumes that the corresponding Institution has not entered into or referred the credit operations in accordance with what is established in these Rules, the Bank of Mexico will send to it, at any time, a notification in the same terms and for the same effects indicated above. Once the referred term of 3 Banking Business Days concludes and the Institution has not disproven what was stated by the Bank of Mexico in the corresponding notification in accordance with the above, the latter will carry out, on the Banking Business Day following that in which said term concludes, a charge in the Single Account of the referred Institution for the amount that it has become obligated to return.

… …”

“3.3 Information to the Bank of Mexico. The Institutions must inform the Bank of Mexico of the credit operations to which they have allocated or referred the resources that the latter has credited to them in the respective Single Accounts in accordance with what is provided in these Rules. For these purposes, each Institution must present to the Bank of Mexico reports with a weekly periodicity, on the day and with the detail that the latter indicates in the form that, for these purposes, it establishes through the Direction of Information of the Financial System. In said reports, the Institutions must specify those companies with which they have entered into the referred credit operations, with respect to which the Institutions declare that it is not possible for them to verify the number of employees that such companies have, as well as they must also describe the way in which they have attended to the smaller-sized companies.

… …”

“3.4 Responsibility of the Institutions in the granting of credits to MiPyME and individuals. Credit operations with MiPyME and individuals, with resources obtained from the Bank of Mexico as a result of the operations provided for in these Rules, will be entered into by the respective Institutions as a result of decisions that only correspond to them to take, as part of the origination and evaluation process that they carry out, by virtue of which the Bank of Mexico will be excluded from all responsibility for said decisions that the Institutions take. Likewise, for the formalization of the

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referred credit operations, the Institutions must comply with the applicable regulations, including that referred to in article 115 of the Credit Institutions Law, corresponding to the prevention of operations with resources of illicit origin.”

Annex 1 Request format that Institutions must present to the Bank of Mexico Mexico City, on (DAY) of (MONTH) of (YEAR). Bank of Mexico Present Attention: General Direction of Central Banking Operations By this conduct, the undersigned, [ FULL NAME ], in my capacity as [ POSITION ] of the credit institution named [ FULL DESIGNATION OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ], in the name and on behalf of said institution, requests the Bank of Mexico to grant to my represented party the resources indicated below, in terms of what is provided in the “Rules Applicable to the Provision of Resources to Credit Institutions to Channel Credit to Micro, Small and Medium-sized Enterprises, as well as to Individuals” (hereinafter, the “Facility Rules”), issued by that Central Institute through Circular 20/2020, as they may be modified, if applicable, through subsequent resolutions.

The amount of the referred resources that my represented party requests is $[ AMOUNT IN NUMBERS ] ( [ AMOUNT IN LETTERS ]), pesos, national currency.

Include one of the following four options: [For these purposes, I request the Bank of Mexico to carry out the withdrawal of the balance of the Monetary Regulation Deposit that my represented party maintains with it, for the amount indicated above, in the terms and subject to the conditions established for this purpose in the previously cited Rules.] [For these purposes, I request the Bank of Mexico to carry out the withdrawal of the balance of the Monetary Regulation Deposit that my represented party maintains with it, for the amount of $[ AMOUNT IN NUMBERS ] ( [ AMOUNT IN LETTERS ]), pesos, national currency. Additionally, [regardless of whether my represented party will still maintain a balance of Monetary Regulation Deposit available after the requested return,] I request the celebration of repos with the titles that, for these purposes, are specified in the appendix of this request, for the amount of $[ AMOUNT IN NUMBERS ] ( [ AMOUNT IN LETTERS ]), pesos, national currency, for the term of [ 360 ] [ 720 ] [ 1,080 ] natural days, in the terms and subject to the conditions established for this purpose in the previously cited Rules. [This last part by virtue of the fact that my represented party has decided to maintain said Monetary Regulation Deposits to adequately manage its liquidity.]] [For these purposes, I request the Bank of Mexico to carry out the withdrawal of the balance of the Monetary Regulation Deposit that my represented party maintains with it, for the amount of $[ AMOUNT IN NUMBERS ] ( [ AMOUNT IN LETTERS ]), pesos, national currency. Additionally, taking into account the decision that that Bank of Mexico could take, in accordance with the cited Rules, to authorize the withdrawal of the Monetary Regulation Deposit of my represented party for an amount lower than that requested in this, I request the celebration of repos with the titles that, for these purposes, are specified in the appendix of this request, for the amount of up to $[ AMOUNT IN NUMBERS ] ( [ AMOUNT IN LETTERS ]), pesos, national currency, for the term of [ 360 ] [ 720 ] [ 1,080 ] natural days, in the terms and subject to the conditions established for this purpose in the previously cited Rules.](The second amount of this option may only be less than or equal to the amount of the requested withdrawal of the Monetary Regulation Deposit. The Bank of Mexico will proceed to formalize repos only when the authorized amount is lower than the requested one and it will do so by the amount equivalent to the difference between what is requested and what is authorized, or by the indicated amount, whichever results lower. [For these purposes, I request the Bank of Mexico the celebration of repos with the titles that, for these purposes, are specified in the appendix of this request, for the amount of $[ AMOUNT IN NUMBERS ] ( [ AMOUNT IN LETTERS ]), pesos, national currency, for the term of [ 360 ] [ 720 ] [ 1,080 ] natural days, in the terms and subject to the conditions established for this purpose in the previously cited Rules. The above by virtue of the fact that, notwithstanding that my represented party maintains resources in Monetary Regulation Deposits, I request that that Bank of Mexico provide resources derived from the indicated repos instead of withdrawing the amounts of said deposits, due to the fact that my represented party has decided to maintain said Monetary Regulation Deposits to adequately manage its liquidity.] (Include the paragraph between brackets only if it is applicable.)

Additionally, in terms of what is provided in section 2.1, third paragraph, of the Facility Rules, the institution that I represent requests to carry out the disposition of the resources that the Bank of Mexico grants it

162 DIARIO OFICIAL Wednesday, August 19, 2020

assign with respect to the present, in accordance with the foregoing, by [a single payment for the total amount of said resources] / [installments during the term and under the conditions established in said section, pursuant to which I request to have access to the first of said installments in the amount of $[AMOUNT IN NUMBERS] ([AMOUNT IN LETTERS])]. [On the other hand, in accordance with what is provided in section 2.1, third paragraph, of the Rules of the Facility, I declare on behalf of my represented entity the intention to carry out the credit operations referred to in the aforementioned Rules of the Facility with [specify number] companies regarding which, by means of this, my represented entity declares before this Central Bank that it is not possible for it to verify the number of employees these companies have, and recognizes its obligation that it may only carry out the aforementioned credit operations with said companies provided that the sum of the principal amounts of these operations does not exceed one third of the total amount assigned by the Bank of Mexico as a result of the present request.] I declare that, of the total resources that my represented entity intends to have access to those assigned by the Bank of Mexico in attention to the present request, this will allocate the _________% to the financing of SMEs and the remaining amount to the financing of natural persons, through the credit operations indicated in the Rules of the Facility; and the date required for the disbursement of [ the total ] [ the first aforementioned installment of ] said resources, by my represented entity, is the [ DAY ] of [ MONTH ] of 2020 [ , subject to the transfer of the securities subject to repurchase in the respective securities deposit accounts that Indeval, or custody accounts abroad, in terms of what is established in the Manual, hold at the Bank of Mexico or in the foreign custodian designated by the Bank of Mexico itself. For these purposes, my represented entity accepts to carry out the repurchase operations in the form and terms provided in the aforementioned Circular, as well as in the corresponding contracts. ] In the same way, my represented entity declares its agreement with the modifications that, if any, have been or will be made to Circular 20/2020, after the celebration of the contract that documents the repurchase operation with the Bank of Mexico. Likewise, it recognizes that, in case of discrepancy between the terms and conditions established in the aforementioned contract and those provided in said Circular and its respective modifications, which are in force at the time of the present request, the terms and conditions provided in the latter shall prevail. Additionally, with the purpose of maintaining agile communication for clarifications or requests for additional information, the Institution designates the following contacts: Name Position Phone Email In the same way, I declare that, in the report that my represented entity presents to the Bank of Mexico, in compliance with what is provided in the Rules of the Facility, —at the conclusion of the term of 20 Banking Business Days subsequent to that in which the Bank of Mexico carries out the credit to the Unique Account of my represented entity of the resources equivalent to the disbursement that corresponds to those assigned by the latter with respect to the present request— we will present to the Bank of Mexico the description of the credits destined to the SMEs and to the natural persons [, as well as, if applicable, those companies regarding which it is not possible for my represented entity to verify the number of employees these companies have, as indicated above,] during the period comprised between the date of the aforementioned credit and the conclusion of said term, in the terms indicated to that effect by said Central Institute. I declare, under oath, that the statements contained in this communication are true and reliable, for all legal effects that may apply. Sincerely, [NAME AND SIGNATURE OF THE LEGAL REPRESENTATIVE WITH POWERS TO PERFORM ACTS OF DOMINION] Appendix to the request to obtain from the Bank of Mexico resources corresponding to the "Rules applicable to the provision of resources to credit institutions to channel credit to micro, small and medium-sized enterprises, as well as to natural persons", issued by Circular 20/2020 of the Bank of Mexico, as modified:

Wednesday, August 19, 2020 DIARIO OFICIAL 163 Securities subject to repurchases to be carried out with the Bank of Mexico Type of security Issuer ISIN Series (if applicable) Date of Issuance Date of Maturity Principal Amount Interest or other accessories Annex 2 Format for request for repurchase of BREMS R that Institutions must present to the Bank of Mexico Mexico City, on (DAY) of (MONTH) of (YEAR). Bank of Mexico P r e s e n t Attention: General Directorate of Central Banking Operations By this means, the undersigned, [ FULL NAME ], in my capacity as [ POSITION ] of the credit institution named [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ], on behalf and for the account of said institution, requests the Bank of Mexico to carry out a repurchase of securities XR251023 (BREMS XR) that [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ], maintains in position, which will be carried out on the X of XX of 2020. For this purpose, below we attach the data for the settlement of the operation as a whole: • [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ], via Indeval will send the [DAY] of [MONTH] of 2020_______ (amount in letters) XR251023 titles to account 02 033 5000 of the Bank of Mexico. • Bank of Mexico, will settle on the [DAY] of [MONTH] of 2020 to [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ], to the account where it holds its Monetary Regulation Deposit, the nominal value of the securities amounting to an amount of $[AMOUNT IN NUMBERS] [(amount in letters)] pesos, national currency. • Bank of Mexico will settle to [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ], on the [DAY] of [MONTH] of 2020 to its Unique Account the accrued interest amounting to an amount of $ [AMOUNT IN NUMBERS] [(AMOUNT IN LETTERS)] pesos, national currency. In relation to the above, [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ] declares its agreement to carry out, in the terms described, the aforementioned operation on the [ DAY ] of [ MONTH ] of 2020. Sincerely, [NAME AND SIGNATURE OF THE LEGAL REPRESENTATIVE WITH POWERS TO PERFORM ACTS OF DOMINION] Annex 3 Format for communication of early payment of financing that Institutions must present to the Bank of Mexico Mexico City, on (DAY) of (MONTH) of (YEAR). Bank of Mexico P r e s e n t Attention: Operations Management Department By this means, I inform you that on [DAY] of [MONTH] of [YEAR], [ FULL NAME OF THE CREDIT INSTITUTION, INCLUDING, IF APPLICABLE, THE FINANCIAL GROUP TO WHICH IT BELONGS ] will carry out the early payment of the financing granted to it by the Bank of Mexico in terms of Circular 20/2020 for: The Price of the repurchase equivalent to the amount of $ [AMOUNT IN NUMBERS] [(AMOUNT IN LETTERS)], pesos, national currency, plus the Premium of the repurchase and, if applicable, corresponding accessories, or

164 DIARIO OFICIAL Wednesday, August 19, 2020 A partial payment of the Price of the repurchase equivalent to the amount of $ [AMOUNT IN NUMBERS] [(AMOUNT IN LETTERS)], pesos, national currency, plus the Premium of the repurchase and, if applicable, corresponding accessories, for which I authorize and instruct said Central Institute to make the respective charge in the Unique Account that it holds for this institution in terms of the contract. Sincerely, (NAME AND SIGNATURE OF PERSONS PREVIOUSLY REGISTERED IN BANK OF MEXICO) SECOND. Section 3.1 Quater (Additional Adjusted Amount), second paragraph, of the "Rules Applicable to Monetary Regulation Deposits", issued by Circular 9/2014, published in the Official Gazette of the Federation on June 9, 2014, as modified by subsequent resolutions, is modified, to read as follows: RULES APPLICABLE TO MONETARY REGULATION DEPOSITS "3.1 Quater. Additional Adjusted Amount ... In the event that a Credit Institution, in accordance with what is provided in section 2.1 of the "Rules Applicable to the Provision of Resources to Credit Institutions to Channel Credit to Micro, Small and Medium-sized Enterprises, as well as to Natural Persons", issued by the Bank of Mexico through Circular 20/2020, has presented a withdrawal request that meets the requirements indicated in said section, at the opening of operations of the SIAC-BANXICO on the Banking Business Day following that in which the Bank has determined an assignment, it will make the necessary credit to the Unique Account that it holds for the Credit Institution, for the amount that results due. Likewise, the Bank, on the same date, will credit the amount for the concept of interest that accrues on the amounts of the Monetary Regulation Deposits that have been returned in accordance with the foregoing and that have been maintained during the last interest period. In the event that the disbursement of the Monetary Regulation Deposit of the respective Institution is to be made in installments in accordance with the aforementioned Rules, once it has presented, on the day of the week established for this purpose during the term of three months from the assignment of the resources requested by it in accordance with said Rules, its request for the partial disbursement that corresponds, the Bank of Mexico, at the opening of operations of the SIAC-BANXICO on the Banking Business Day following that in which the Credit Institution has presented the aforementioned request, will make the credit to the aforementioned Unique Account that it holds for the Credit Institution, for the amount of the installment that results due in terms of said Rules. Likewise, the Bank of Mexico, on the same date of said credit, will add the amount for the concept of interest that accrues on the amount of the Monetary Regulation Deposit that has been returned in accordance with the foregoing and that has been maintained during the last interest period. ... ..." THIRD. The Second Transitory Rule of Circular 20/2020, published in the Official Gazette of the Federation on June 2, 2020, is modified, to read as follows: TRANSITORY "FIRST. ... SECOND. The validity of the Rules Applicable to the Provision of Resources to Credit Institutions to Channel Credit to Micro, Small and Medium-sized Enterprises, as well as to Natural Persons, provided for in the First Resolutive of this Circular, will expire on December 31, 2020. In the event that, on the date of expiration of the aforementioned validity, repurchases celebrated by Institutions with the Bank of Mexico in accordance with said Rules remain in force, these will remain in force until the date of their liquidation, subject to these provisions and the applicable contracts." TRANSITORY UNIQUE. The modifications to these Rules will enter into force on the day of their publication in the Official Gazette of the Federation.

Wednesday, August 19, 2020 DIARIO OFICIAL 165 Mexico City, August 12, 2020.- BANK OF MEXICO: The General Director of Payment Systems and Market Infrastructures, Manuel Miguel Ángel Díaz Díaz.- Initials.- The General Legal Director, Luis Urrutia Corral.- Initials.- The General Director of Financial System Affairs, José Luis Negrín Muñoz.- Initials.- The Director of Support for Operations, Joaquín Rodrigo Cano Jauregui Segura Millan.- Initials.- The Director of Financial Stability, Jorge Luis García Ramírez.- Initials. For any inquiries regarding the content of this Circular, the Bank of Mexico is at your disposal through the Directorate of Central Banking Authorizations and Sanctions at phone (55) 5237-2000 extension 3200.