Circular 46/2008 — Modifies Circular 6/2007

Friday, September 26, 2008 OFFICIAL GAZETTE (First Section) 1

CIRCULAR 46/2008 containing the modifications to the Rules to which credit institutions must adhere regarding basic payroll accounts and for the general public, as referred to in Article 48 Bis 2 of the Credit Institutions Law.

At the margin a logo, which says: Bank of Mexico.

CIRCULAR 46/2008

TO CREDIT INSTITUTIONS:
SUBJECT: RESOLUTION MODIFYING THE RULES FOR BASIC PAYROLL AND GENERAL PUBLIC ACCOUNTS

The Bank of Mexico, based on Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 24 and 26 of the Bank of Mexico Law; 48 and 48 Bis 2 of the Credit Institutions Law; 4 and 22 of the Law for Transparency and Ordering of Financial Services; 8th paragraphs third and sixth, 10, 14 in relation with 25 fraction II, 17 fraction I and 20 fraction IV of the Internal Regulations of the Bank of Mexico, which provide for the attribution of the Central Bank, through the General Directorate of Analysis of the Financial System, the Directorate of Central Banking Provisions and the Directorate of Operational Systems and Payments, respectively, to issue provisions; Unique Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, fractions I, III and IV, and with the objective of promoting the sound development of the financial system; protecting the interests of the public and expanding the provision of the "Basic Payroll Account" service, has resolved to modify numeral 2.2, as well as add numerals 2.21. and 2.22. of the "Rules to which credit institutions must adhere regarding basic payroll accounts and for the general public, as referred to in Article 48 Bis 2 of the Credit Institutions Law", made known through Circular 6/2007 and modified through Resolution of November 29, 2007, to remain in the following terms:

RULES TO WHICH CREDIT INSTITUTIONS MUST ADHERE REGARDING BASIC PAYROLL ACCOUNTS AND FOR THE GENERAL PUBLIC, AS REFERRED TO IN ARTICLE 48 BIS 2 OF THE CREDIT INSTITUTIONS LAW

2. BASIC PAYROLL ACCOUNT

"2.2 Account holders

2.21. Natural persons regarding whom their employer has concluded an agreement with the depositary Credit Institution under which they are able to contract the Basic Payroll Account, in order for their salary and other benefits of a labor nature to be deposited therein.

2.22. Natural persons who hold a job, position or commission of any nature in the Federal Public Administration, who enter into a contract with a Credit Institution for the opening of a Basic Payroll Account, in order for their salary and other benefits of a labor nature to be deposited therein."

TRANSITORY

UNIQUE. These Rules shall enter into force on October 1, 2008.

Friday, September 26, 2008 OFFICIAL GAZETTE (First Section) 2

Mexico, D.F., September 24, 2008.- BANK OF MEXICO: The General Director of Analysis of the Financial System, José Gerardo Quijano León.- Rubric.- The Director of Central Banking Provisions, Fernando Luis Corvera Caraza.- Rubric.- The Director of Operational Systems and Payments, Ricardo Medina Alvarez.- Rubric.

For any inquiries regarding the content of this Circular, please contact the General Manager of Authorizations, Consultations and Legal Control, located at 5 de Mayo Avenue number 2, sixth floor, Centro Neighborhood, Mexico City, D.F., C.P. 06059, or at the phones 5237.2308, 5237.2317 or 5237.2000 Ext. 3200.