General Provisions Designating the Days in 2019 That Financial Entities Supervised by the CNBV Must Close and Suspend Operations — SHCP — MX

DOF: 11/12/2018

GENERAL PROVISIONS DESIGNATING THE DAYS IN THE YEAR 2019, ON WHICH FINANCIAL ENTITIES SUBJECT TO THE SUPERVISION OF THE NATIONAL BANKING AND SECURITIES COMMISSION, 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 to Regulate the Activities of Savings and Loan Cooperative Societies, has deemed it appropriate to issue the following:

Article 1.- Credit institutions, brokerage houses, investment company operating societies, investment funds, investment fund operating societies, and entities acting as distributors of investment fund shares, investment fund share rating societies, securities rating agencies, regulated multiple-object financial societies, derivatives contract exchanges, stock exchanges, securities depository institutions, central counterparties for securities, derivatives contract clearing houses, and their liquidating partners, credit information societies, credit unions, popular financial societies, community financial societies, savings and loan cooperative societies, and fintech institutions must close their doors, suspend operations, and cease providing services to the public in the Mexican Republic on the following days of the year 2019:

I. January 1.

II. The first Monday in February in commemoration of February 5, that is, February 4.

III. The third Monday in March in commemoration of March 21, that is, March 18.

IV. April 18 and 19.

V. May 1.

VI. September 16.

VII. November 2. Additionally, the third Monday in November in commemoration of November 20, that is, November 18.

VIII. December 12 and 25.

IX. Saturdays and Sundays, in addition to that indicated in the preceding fraction VII.

Warehouse receipts and exchange houses may open their doors, operate, and provide services to the public on all days of the year 2019, 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 to be kept. 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 2019 referred to in fractions I to VIII of the cited provision, may do so without 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 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 receipts and exchange houses that comply with what is established in Article 1, second paragraph of these provisions, are not obligated to submit the aforementioned calendar.

The aforementioned financial entities, as well as warehouse receipts 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 VIII 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 2019 additional to those referred to in fractions I to VIII of the cited provision, may do so without 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.

Warehouse receipts 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 2019 may do so, without authorization from the National Banking and Securities Commission, provided they comply with the provisions in the preceding paragraph.

Justified causes for submitting the annual calendar referred to in the first paragraph of this article will be considered to exist, among others, when they refer to 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 geographic zone in question, as well as those determined by laws on 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 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 may make during the course of the year 2019, 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 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 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 or, where applicable, the stability and security of the entity in question or the financial system as a whole, is endangered or interrupted.

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 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 Banking and Securities Commission.

Likewise, regarding the temporary closure, change in hours, or suspension of operations of branches due to the scenarios 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 National Banking and Securities Commission, informing of the measures adopted to ensure service continuity to their clientele.

Article 7.- Financial entities may celebrate uninterrupted 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 financial entities' branches.

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

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, November 30, 2018.- President of the National Banking and Securities Commission, José Bernardo González Rosas.- Signature.

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