Notice revoking authorization for the establishment in national territory of JPMorgan Chase Bank, N.A., New York, New York, United States of North America, Representation Office in Monterrey, Nuevo León

DOF: 27/09/2018

NOTICE revoking the authorization for the establishment in national territory of JPMorgan Chase Bank, N.A., New York, New York, United States of North America, Representation Office in Monterrey, Nuevo León.

A seal with the National Coat of Arms appears on the margin, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Vice Presidency of Normativity.- Vice Presidency of Supervision of Groups and Financial Intermediaries B.- General Directorate of Authorizations to the Financial System.- General Directorate of Supervision of Groups and Financial Intermediaries E.- Notice No.: 312-2-66498/2018.- Exp. CNBV. 312.211.23 (8132).

Subject:

Closure of your Representation Office in

Mexico, as well as revocation of the

authorization for its establishment.

JP MORGAN CHASE BANK, N.A.,

Paseo de las Palmas 405, floor 21

Torre Óptima

Col. Lomas de Chapultepec

Del. Miguel Hidalgo

11000, Mexico City.

Attention:

MR. JOHN PHILIP MURRAY PECORARO

Representative

We refer to the writings presented on March 15, June 19, and July 10, 2018,

through which you notified this Commission of the definitive closure of JPMorgan Chase Bank, N.A., New York,

New York, United States of North America, Representation Office in Monterrey, Nuevo León and, in

consequence, requested the revocation of the corresponding authorization.

BACKGROUND

1.

Through notice 102-E-367-DGBM-II-B-c-1099 dated September 9, 1994, the Ministry of

Finance and Public Credit (SHCP), authorized the establishment of a representation office in

the city of Monterrey, Nuevo León, under the name Chemical Bank, New York, N.Y.,

United States of North America, representation in Mexico, Monterrey, Nuevo León.

2.

On July 14, 1996, Chemical Bank merged with The Chase Manhattan Bank, N.A., under the

corporate name The Chase Manhattan Bank.

3.

With notice 102-E-367-DGBM-IV-1766 dated July 24, 1996, the SHCP authorized the closure of

the representation office established in the City of Monterrey, Nuevo León, of Chemical Bank,

which was not carried out as the necessary procedures for its closure were not completed.

4.

On November 10, 2001, the merger of Morgan Guaranty Trust Company of New

York, as merged entity, and The Chase Manhattan Bank, as merging entity, took effect, with the latter

subsisting under the corporate name of JP Morgan Chase Bank.

5.

On November 13, 2004, JP Morgan Chase Bank changed its state banking operation license to one

under the corporate name of JP Morgan Chase Bank, National Association.

6.

Through notice 312-1/17025/2017 dated November 28, 2017, the National Banking and Securities

Commission (CNBV), took note, for regularization purposes, of the change in the denomination of the

external financial entity Chemical Bank to JP Morgan Chase Bank, N.A. and as

a consequence thereof, the modification to the corporate name of its representation office

Chemical Bank, New York, N.Y., United States of North America, Representation in Mexico,

Monterrey Nuevo León to JPMorgan Chase Bank, N.A. New York, New York, United States

of North America, Representation Office in Monterrey, Nuevo León.

7.

With notice 312-1/17028/2017 dated November 28, 2017 and due to the acts described

in the previous paragraph, the CNBV modified the terms of the authorization contained in notice

102-E- 367-DGBM-II-B-c-1099, issued by the SHCP on September 9, 1994, to substitute the

denomination of Chemical Bank, New York, N.Y., United States of North America, Representation

in Mexico, Monterrey, Nuevo León with that of JPMorgan Chase Bank, N.A.,

New York, New York,

United States of North America, Representation Office in Monterrey, Nuevo León.

Attending to the background exposed and considering that the request and documentation presented

comply with the applicable provisions, this Commission, based on what is established in the Tenth

Fifth, fraction VI of the "Rules for representation offices of external financial entities",

published in the Official Gazette of the Federation on December 31, 2014, has resolved to authorize the closure of

JPMorgan Chase Bank, N.A., New York, New York, United States of North America, Office of

Representation in Monterrey, Nuevo León.

On the other hand, and based on the aforementioned Tenth Fifth rule, the members of the Board

of Directors of this Commission, in a session held on September 7 of the current year, adopted

the following:

AGREEMENT

" TWENTY-FIRST.- The members of the Board of Directors, based on article 12,

fraction XV of the Law of the National Banking and Securities Commission, in relation to article 7 of the

Law of Credit Institutions and the Tenth Fifth, fraction VI of the Rules for representation offices of

external financial entities, taking into consideration the favorable opinion issued by the Committee

of

Authorizations of the National Banking and Securities Commission in its session held on August 31 of

2018, unanimously approved the revocation of the authorization for the establishment in national territory

of JPMorgan Chase Bank, N.A., New York, New York, United States of North America, Office of

Representation in Monterrey, Nuevo León, granted by the Ministry of Finance and Public Credit

through notice 102-E-367-DGBM-II-B-c-1099 dated September 9, 1994, as a consequence of

its closure. "

This notice is issued based on articles 12, in relation to 19, fractions I, subsection f),

III and last paragraph and 40, fractions I and VII of the Internal Regulations of the National Banking and Securities

Commission, published in the Official Gazette of the Federation on November 12, 2014.

Respectfully,

Mexico City, September 11, 2018. - The General Director of Authorizations to the Financial

System, Alejandro Daniel Haro Acosta. - Signature. - The General Director of Supervision of Groups and

Financial Intermediaries E, José Ramón Canales Márquez. - Signature.

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