General Provisions Designating the Days in 2016 When Financial Entities Supervised by the CNBV Must Close and Suspend Operations

DOF: 22/12/2015

GENERAL PROVISIONS DESIGNATING THE DAYS IN THE YEAR 2016 ON WHICH FINANCIAL ENTITIES SUBJECT TO THE SUPERVISION OF THE NATIONAL BANKING AND SECURITIES COMMISSION MUST CLOSE THEIR DOORS AND SUSPEND OPERATIONS

A seal with the National Emblem appears at the margin, stating: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on Articles 4, fractions XXII and XXXVI, and 16, fraction I of its Organic Law; Article 95 of the Credit Institutions Law; Articles 218, 243, and 279 of the Securities Market Law; Article 80, fraction VIII of the Investment Funds Law; Article 70 of the General Law of Organizations and Auxiliary Activities of Credit; Articles 46 Bis and 124 Bis 3 of the Popular Savings and Credit Law; Article 90 of the Credit Unions Law; and Article 68 of the Law Regulating the Activities of Savings and Loan Cooperatives, has deemed it appropriate to issue the following:

GENERAL PROVISIONS DESIGNATING THE DAYS IN THE YEAR 2016 ON WHICH FINANCIAL ENTITIES SUBJECT TO THE SUPERVISION OF THE NATIONAL BANKING AND SECURITIES COMMISSION MUST CLOSE THEIR DOORS AND SUSPEND OPERATIONS

Article 1.- Credit institutions, brokerage houses, investment companies, operating companies of investment companies, societies and financial entities acting as distributors of shares of investment companies, valuation societies of shares of investment companies, investment funds, operating companies of investment funds, societies and financial entities acting as distributors of shares of investment funds, valuation societies of shares of investment funds, credit rating agencies, regulated multiple-object financial societies, derivatives contract exchanges, stock exchanges, securities depository institutions, central counterparties for securities, clearing houses for derivatives contracts and their liquidating members, credit information societies, credit unions, popular financial societies, community financial societies, and savings and loan cooperatives, must close their doors, suspend operations, and cease providing services to the public throughout the Mexican Republic on the following days of the year 2016:

I. January 1.

II. The first Monday of February in commemoration of February 5, namely, February 1.

III. March 21.

IV. March 24 and 25.

V. May 1.

VI. September 16.

VII. November 2. Additionally, the third Monday of said month in commemoration of November 20, namely, November 21.

VIII. December 12 and 25.

IX. Saturdays and Sundays, in addition to the Sundays indicated in fractions V and VIII above.

Warehouse receipt companies and exchange houses may open their doors, operate, and provide services to the public on all days of the year 2016, provided they comply with these provisions.

Other financial entities, institutions, and bodies subject to the supervision of the National Banking and Securities Commission, not included in the first and second paragraphs of this article, are not subject to these provisions.

Article 2.- The National Banking and Securities Commission may order the financial entities referred to in Article 1 of these provisions to close their doors and suspend operations within the Mexican Republic on days other than those indicated in said article, when it deems necessary for reasons of national security or public interest.

The notifications carried out by said Commission, in accordance with the provisions of the preceding paragraph, may be made via email and other electronic means that allow proof of sending. For this purpose, the Commission must use the most recent information available in its database and provided to it by the financial entities.

Article 3.- The financial entities mentioned in the first paragraph of Article 1 of these provisions, which intend to open their doors, operate, and provide services to the public on the days of the year 2016 referred to in fractions I to IX of said provision, may do so without authorization from the National Banking and Securities Commission, provided they submit a notice indicating the cities or localities of the country that will have open facilities and the type of operations they intend to perform.

Such notice must be accompanied by the annual calendar for said period or, in cases of force majeure, the corresponding days, and in both cases, the respective justification.

Warehouse receipt companies and exchange houses that comply with what is established in Article 1, second paragraph of these provisions, are not obligated to present the aforementioned calendar.

The aforementioned financial entities, as well as warehouse receipt companies and exchange houses that, where applicable, open their doors, operate, and provide services to the public on the days referred to in fractions I to IX of Article 1 of these provisions, shall settle operations agreed upon with their clients with a value date on the next banking or stock market business day, when these require settlement through the country's payment system.

Article 4.- The financial entities mentioned in the first paragraph of Article 1 of these provisions, which intend to close their doors, suspend operations, and cease providing services to the public on the days of the year 2016 additional to those referred to in fractions I to IX of said provision, may do so without authorization from the National Banking and Securities Commission, provided they submit a notice indicating the cities or localities of the country where facilities will remain closed. Such notice must be accompanied by the annual calendar for said period or, in cases of force majeure, the corresponding days, and in both cases, the respective justification.

Warehouse receipt companies and exchange houses that intend to close their doors, suspend operations, and cease providing services to the public on any day of the year 2016 may do so, without authorization from the Commission, provided they comply with the provisions of the preceding paragraph.

Justified causes for presenting the annual calendar referred to in the first paragraph of this article include, among others, when it concerns days that their collective contracts or general working conditions foresee as non-working days according to regional usages and customs established in the locality or geographic zone in question, as well as those determined by laws on electoral matters to carry out an electoral voting day. Without prejudice to the foregoing, financial entities subject to these provisions must provide minimum operational mechanisms to avoid disruptions to the country's payment system.

The dates established in the reference calendar will be considered banking or stock market business days for operation, in accordance with the provisions of these regulations, for all applicable legal and administrative effects.

Article 5.- The annual calendar that financial entities determine to establish under Articles 3 and 4 above, as well as modifications made during the course of the year 2016, must be presented to the National Banking and Securities Commission at least 7 natural days in advance of the date on which they intend to begin application.

Regarding the force majeure scenarios referred to in Articles 3 and 4 above, the respective notice must be submitted as soon as possible. In these cases, notice must also be given of the date on which the extraordinary opening or closing concludes.

The National Banking and Securities Commission may, at any time, veto or order corrections to the aforementioned calendar, when in its judgment and due to the dates indicated, the proper functioning of the country's payment system is endangered or interrupted, or the stability and security of the entity in question or the financial system as a whole.

Article 6.- Without prejudice to what is stated in Articles 3 and 4 above, financial entities subject to these provisions must keep a record of any temporary closure or change in hours of their branches for public attention, or suspension of operations due to fortuitous event or force majeure, in which they record the date and cause that originated it, keeping such record available to the National Banking and Securities Commission.

Likewise, regarding temporary closure, change in hours, or suspension of operations of branches due to the scenarios mentioned in the preceding paragraph, which imply that in one or more cities of the Mexican Republic there is no possibility of opening doors and conducting operations with the public, thereby affecting the country's payment system, immediate notice must be given to the Commission, informing of measures adopted to ensure service continuity to its clientele.

Article 7.- Financial entities may continuously conclude with their clientele those operations and services that, due to their characteristics, terms, and conditions, cannot be suspended, such as debit or credit card transactions and the operation of automatic teller machines, among others.

Article 8.- These provisions are not applicable regarding the installation, relocation, or closure of financial entities' branches.

Article 9.- These provisions apply independently of the regulation relative to labor matters.

TRANSITORY

SOLE TRANSITORY PROVISION.- These provisions enter into force the day following their publication in the Official Journal of the Federation.

Respectfully,

Mexico City, December 11, 2015.- President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

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