General Provisions Designating the Days in 2017 When Financial Entities Supervised by the CNBV Must Close and Suspend Operations

DOF: 20/12/2016

GENERAL PROVISIONS DESIGNATING THE DAYS IN THE YEAR 2017, ON WHICH FINANCIAL ENTITIES SUBJECT TO THE SUPERVISION OF THE COMISIÓN NACIONAL BANCARIA Y DE VALORES, MUST CLOSE THEIR DOORS AND SUSPEND OPERATIONS

A seal bearing the National Coat of Arms, which reads: 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 Law; 95 of the Credit Institutions Law; 218, 243, and 279 of the Securities Market Law; 80, fraction VIII of the Investment Funds Law; 70 of the General Law of Organizations and Auxiliary Credit Activities; 46 Bis and 124 Bis 3 of the Popular Savings and Credit Law; 90 of the Credit Unions Law; and 68 of the Law for the Regulation of the Activities of Savings and Loan Cooperatives, has deemed it appropriate to issue the following:

GENERAL PROVISIONS DESIGNATING THE DAYS IN THE YEAR 2017, 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 societies, societies operating investment societies, societies valuing shares of investment societies, investment funds, societies operating investment funds, societies and financial entities acting as distributors of investment fund shares, societies valuing shares of investment funds, securities rating agencies, regulated multi-objective financial societies, derivatives contract exchanges, stock exchanges, institutions for the deposit of securities, central counterparties for securities, clearing houses for derivatives contracts and their liquidating partners, credit information societies, credit unions, popular financial societies, community financial societies, and savings and loan cooperatives, must close their doors, suspend operations, as well as the provision of services to the public in the Mexican Republic, on the following days of the year 2017:

I.

January 1.

II.

The first Monday of February in commemoration of February 5, that is, February 6.

III.

The third Monday of March in commemoration of March 21, that is, March 20.

IV.

April 13 and 14.

V.

May 1.

VI.

September 16.

VII.

November 2 and 20.

VIII.

December 12 and 25.

IX.

Saturdays and Sundays, in addition to the Saturdays and Sundays indicated in fractions I and VI above.

General depositories and exchange houses may open their doors, operate, and provide services to the public on all days of the year 2017, 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 the aforementioned Commission, in accordance with the provisions of the preceding paragraph, may be made by 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 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 2017 referred to in fractions I to IX of said provision, may do so without the need for authorization from the National Banking and Securities Commission, provided they submit a notice indicating the cities or localities in the country that will have open facilities and the type of operations they intend to carry out.

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.

General depositories and exchange houses that comply with what is established in Article 1, second paragraph of these provisions, will not be obligated to submit the aforementioned calendar.

The aforementioned financial entities, as well as general depositories 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, will conduct operations agreed upon with their clients, with a value date of 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 their services to the public on the days of the year 2017 additional to those referred to in fractions I to IX of said provision, may do so without the need for authorization from the National Banking and Securities Commission, provided they submit a notice indicating the cities or localities in the country where the 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.

General depositories and exchange houses that intend to close their doors, suspend operations, and cease providing their services to the public on any day of the year 2017 may do so, without the need for authorization from the Commission, provided they comply with the provisions of the preceding paragraph.

It will be considered that there are justified causes to present the annual calendar referred to in the first paragraph of this article, among others, when it concerns days that their collective contracts or general working conditions foresee as non-working days in accordance with regional usages and customs that have been established in the locality or geographic zone in question, as well as those determined by laws in electoral matters, to carry out any electoral voting day. Without prejudice to the foregoing, financial entities subject to these provisions must provide for minimum operational mechanisms that avoid disruptions to the country's payment system.

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

Article 5.- The annual calendar that financial entities determine to establish under the auspices of Articles 3 and 4 above, as well as the modifications that they make, where applicable, during the course of the year 2017, must be submitted to the National Banking and Securities Commission, at least 7 calendar days in advance of the date on which they intend to start its application.

Regarding the force majeure situations referred to in Articles 3 and 4 above, the respective notice must be submitted as soon as possible. In these cases, they must also notify the date on which the extraordinary opening or closure 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, where applicable, 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, where applicable, the suspension of operations due to fortuitous event or force majeure, in which they record the date and the cause that originated it, keeping said record available to the National Banking and Securities Commission.

Likewise, regarding the temporary closure, change in hours, or suspension of operations of branches due to the situations indicated 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 the 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 automated teller machines, among others.

Article 8.- These provisions will not be applicable in matters of installation, relocation, or closure of branches of financial entities.

Article 9.- These provisions will apply independently of the regulation regarding labor matters.

TRANSITORY

SINGLE TRANSITORY PROVISION.- These provisions will enter into force the day following their publication in the Official Gazette of the Federation.

Respectfully,

Mexico City, December 12, 2016.- The President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

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