Regulatory Alerts2014-04-29 | Circular 6/2014Added
Circular 6/2014 — Extension of the Effective Date of Circular 4/2013
The Bank of Mexico extends the effective dates for specific provisions of Circular 4/2013, which amends Circular 17/2010 regarding the Interbank Electronic Payment System. The provisions in section 3.1(e)(iii) and section 6(a Bis) are deferred to November 7, 2014; those in section 3.1(c Bis), section 6(a) third paragraph, and section 7.2(b) to March 6, 2015; and those in section 3.3(a) second paragraph, section 6(a) and (c) second paragraphs, section 7.2(d Bis), and section 7.3 to May 8, 2015. Additionally, Issuing Participants must process Mobile Device Transfer orders daily between 6:00 and 17:30 hours from January 17, 2015, until the March 6, 2015 effective date.
Tuesday, April 29, 2014 OFFICIAL GAZETTE (First Section) 106
CIRCULAR 6/2014 addressed to participants in the Interbank Electronic Payment System, regarding the extension of the effective date of Circular 4/2013.
At the margin, a logo that says: Bank of Mexico.
CIRCULAR 6/2014
TO THE PARTICIPANTS IN THE INTERBANK ELECTRONIC PAYMENT SYSTEM:
SUBJECT: EXTENSION OF THE EFFECTIVE DATE OF CIRCULAR 4/2013
The Bank of Mexico, considering the convenience of granting a period that, under the prevailing circumstances at present, allows the Participants referred to in Circular 17/2010, issued by the Bank itself, to fully comply with the provisions of said Circular, in terms of the reforms subject of Circular 4/2013, has resolved to defer the entry into force of said reforms.
For the above reason, based on Articles 28, sixth and seventh paragraphs, of the Political Constitution of the United Mexican States; 2, 3, fraction I, 24 and 31 of the Bank of Mexico Law; 6 and 10 of the Payment Systems Law, 22 of the Law for Transparency and Ordering of Financial Services; as well as 4, first paragraph, 8, fourth and seventh paragraphs, 10, first paragraph, 14 Bis, in relation to 17, fraction I, 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 and the General Directorate of Payment Systems and Corporate Services, respectively, as well as Second, fractions VIII and X, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, has resolved to reform Articles Second, Third and Fourth Transitional of Circular 4/2013, in the following terms:
"TRANSITIONAL PROVISIONS
...
SECOND. The provisions set forth in item 3.1, subsection e), sub-subsection (iii), and in item 6, subsection a Bis), shall enter into force on November 7, 2014.
THIRD. The provisions set forth in item 3.1, subsection c Bis), in item 6, subsection a), third paragraph, and in item 7.2, subsection b), shall enter into force on March 6, 2015.
From January 17, 2015 until the date indicated in the preceding paragraph, regarding Transfers through Mobile Devices, Issuing Participants shall receive and process the respective requests for Transfer Orders, every day of the year, at least during the hours of 6:00 to 17:30.
FOURTH. The provisions set forth in item 3.3, subsection a), second paragraph; item 6, subsection a), second paragraph; item 6, subsection c), second paragraph; item 7.2, subsection d Bis), as well as item 7.3, shall enter into force on May 8, 2015."
TRANSITIONAL PROVISIONS
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., April 28, 2014.- BANK OF MEXICO: The General Director of Payment Systems and Corporate Services, Lorenza Martínez Trigueros.- Signature.- The General Legal Director, Luis Urrutia Corral.- Signature.
Tuesday, April 29, 2014 OFFICIAL GAZETTE (First Section) 107
For any inquiries regarding the content of this Circular, please contact the Authorization, Consultations and Legal Control Department, at the phone numbers (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000, extension 3200.
More like this from BANXICO
We email you every new BANXICO publication the day it's published.