General Provisions Designating the Days in 2018 When Financial Entities Supervised by the CNBV Must Close and Suspend Operations — SHCP — MX

DOF: 12/18/2017

GENERAL PROVISIONS DESIGNATING THE DAYS IN THE YEAR 2018, ON WHICH FINANCIAL ENTITIES SUBJECT TO THE SUPERVISION OF THE NATIONAL BANK AND SECURITIES COMMISSION, MUST CLOSE THEIR DOORS AND SUSPEND OPERATIONS

A seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Bank and Securities Commission.

The National Bank 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 to Regulate the Activities of Savings and Loan Cooperatives, has deemed it appropriate to issue the following:

Article 1.- Credit institutions, brokerage houses, investment companies, operating companies of investment companies, investment funds, operating companies of investment funds, companies and financial entities acting as distributors of investment fund shares, companies valuing investment fund shares, securities rating agencies, regulated multi-objective financial companies, derivatives contract exchanges, stock exchanges, institutions for the deposit of securities, central counterparties for securities, clearing houses for derivatives contracts and their liquidating members, credit information companies, credit unions, popular financial companies, community financial companies, 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 2018:

January 1.

II.

February 5.

III.

The third Monday of March in commemoration of March 21, that is, March 19.

IV.

March 29 and 30.

May 1.

VI.

July 1, on account of the federal elections.

VII.

September 16.

VIII.

November 2. Additionally, the third Monday of said month in commemoration of November 20, that is, November 19.

IX.

December 1, 12, and 25.

Saturdays and Sundays, in addition to those indicated in the preceding fractions VI and VII, as well as the first indicated in the preceding fraction IX.

General warehouses and exchange houses may open their doors, operate, and provide services to the public on all days of the year 2018, provided they comply with these provisions.

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

Article 2.- The National Bank 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 on file in its database and that has been 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 2018 referred to in fractions I to IX of said provision, may do so without the need for authorization from the National Bank 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 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.

General warehouses 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 general warehouses 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 the operations they agree 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 their services to the public on the days of the year 2018 additional to those referred to in fractions I to IX of said provision, may do so without the need for authorization from the National Bank 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 warehouses 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 2018 may do so, without the need for 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 will be considered to exist, among others, when it concerns days that their collective contracts or general working conditions provide as non-working days in accordance with regional usages and customs that have been established in the locality or geographical zone in question, as well as those determined by laws in electoral matters, to carry out any electoral 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 Articles 3 and 4 above, as well as any modifications they make during the course of the year 2018, must be submitted to the National Bank and Securities Commission, at least 7 calendar days in advance of the date on which they intend to begin its 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, they must also notify the date on which the extraordinary opening or closing concludes.

The National Bank 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 schedule of their branches for public service or, where applicable, 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 Bank and Securities Commission.

Likewise, regarding the temporary closure, change in schedule, or suspension of operations of branches due to the scenarios indicated in the preceding paragraph, which imply that in one or more cities in the Mexican Republic it is not possible to open the doors and conduct 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 transactions with debit or credit cards 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.

TRANSITIONAL

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

Respectfully

Mexico City, December 8, 2017.- The President of the National Bank and Securities Commission, Jaime González Aguadé.- Signature.

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