Circular 5/2013 — Modification to Circular 22/2010

(First Section) OFFICIAL GAZETTE Friday, December 6, 2013 BANCO DE MEXICO CIRCULAR 5/2013 regarding the Modification to Circular 22/2010. At the margin, a logo that says: Banco de México. CIRCULAR 5/2013 TO CREDIT INSTITUTIONS AND MULTI-PURPOSE FINANCIAL COMPANIES REGULATED: SUBJECT: MODIFICATION TO CIRCULAR 22/2010 The Bank of Mexico, with the objective of promoting the sound development of the financial system, of fostering the good functioning of payment systems, and of protecting the interests of the public, considers it convenient to promote financial inclusion by encouraging the use of mobile devices as a means to carry out electronic transfers. To this effect, it deems it convenient to establish limits on the commissions that credit institutions charge for such service. Likewise, it is convenient to update the provisions of Circular 22/2010 to the current regulatory framework. For the above reason, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States; 24 and 26 of the Bank of Mexico Law; 4, 4 Bis and 22 of the Law for Transparency and Orderly Regulation of Financial Services; 48 of the Credit Institutions Law; 4th, first paragraph, 8th, paragraphs fourth and seventh, 10, first paragraph, 14 Bis, in relation to 17, fraction I, 14 Bis 1, in relation to 25 Bis 1, fraction IV and 25 Bis 2, fraction II and 15, in relation to 20, fraction XI, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Directorate, the General Directorate of Financial System Affairs, and the General Directorate of Payment Systems and Corporate Services, respectively, as well as the Second Article of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, fractions I, VIII and X; it has resolved to add in numeral 1 the definition of "Transfer through Mobile Devices", modify numerals 1, in the definitions "Issuer", "Financial Entity", "Disposal Means" and "ATM Operator"; 3 sub-paragraphs h) and l); 5 in its sub-paragraph a), as well as 6, first paragraph, and repeal from numeral 3 sub-paragraph f), of the "General Provisions Establishing Prohibitions and Limits on the Charging of Commissions", contained in Circular 22/2010, to remain in the following terms: GENERAL PROVISIONS ESTABLISHING PROHIBITIONS AND LIMITS ON THE CHARGING OF COMMISSIONS "1. DEFINITIONS For brevity, singular or plural, the following shall be understood as: . . . Issuer: credit institutions and multi-purpose financial companies regulated that issue, as appropriate, debit or credit cards. Financial Entity: credit institutions and multi-purpose financial companies regulated. Disposal Means: debit cards, credit cards, checks and fund transfer orders, including the service known as direct debit. . . .

Friday, December 6, 2013 OFFICIAL GAZETTE (First Section) ATM Operator: credit institutions and multi-purpose financial companies regulated, that provide services through ATMs. Transfer through Mobile Devices: the electronic transfer of funds between deposit accounts for demand deposits administered by two credit institutions, in which the ordering account holder has transmitted the transfer instruction to the respective institution by means of a mobile device whose mobile phone line number has been associated with said account. . . ." "3. LIMITATIONS AND PROHIBITIONS ON THE CHARGING OF COMMISSIONS ON DEPOSIT ACCOUNTS AND OTHER PASSIVE OPERATIONS Credit institutions shall not charge Commissions: a) to e) . . . f) Repealed; g) . . . h) For the cancellation of debit cards; i) to k) . . . l) For not using debit cards associated with level 1 accounts provided for in Circular 3/2012 issued by the Bank of Mexico, during a period of 365 calendar days; m) and n) . . ." "5. LIMITATIONS ON THE CHARGING OF COMMISSIONS ON FUND TRANSFER ORDERS AND DIRECT DEBIT Regarding this type of operation: a) Under no circumstances shall the amount of Commissions be determined based on the amount of fund transfer orders and direct debits, except for Transfers through Mobile Devices. In the latter case, such Commission shall not exceed the lesser of: i) a percentage with respect to the amount of the transfer, or ii) the amount denominated in national currency, which the credit institution determines and registers with the Bank of Mexico, in accordance with the procedure provided in Article 6 of the Law for Transparency and Orderly Regulation of Financial Services; b) and c) . . ." "6. LIMITATIONS ON THE CHARGING OF COMMISSIONS THROUGH COMMISSION AGENTS Credit institutions that carry out operations or provide services through commission agents shall under no circumstances determine the amount of the Commissions they charge through them based on the amount of the corresponding operation, so these must be fixed for each type of operation. The foregoing, with the exception of what is provided in numeral 5, sub-paragraph a), regarding Transfers through Mobile Devices. . . ." TRANSITORY SINGLE. This Circular shall enter into force on the next banking business day following its publication in the Official Gazette of the Federation. Mexico, D.F., December 4, 2013.- BANCO DE MÉXICO: The General Director of Payment Systems and Corporate Services, Lorenza Martínez Trigueros.- Signature.- The General Director of Financial System Affairs, Jesús Alan Elizondo Flores.- Signature.- The General Legal Director, Luis Urrutia Corral.- Signature.

(First Section) OFFICIAL GAZETTE Friday, December 6, 2013 For any inquiries regarding the content of this Circular, please contact the Department of Authorizations, Consultations and Legal Control, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000 Ext. 3200.