Resolution modifying the General Provisions applicable to credit institutions — SHCP — MX

DOF: 13/09/2023

RESOLUTION modifying the General Provisions applicable to credit institutions

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, with the agreement of its Board of Directors, based on articles 50, first and fifth paragraphs and 98 Bis of the Credit Institutions Law; 87-D, paragraphs first, fraction I, subsection t), second and third of the General Law of Organizations and Auxiliary Activities of Credit, as well as 4, fractions II, XXXVI and XXXVIII and 16, fractions I and VI of the Law of the National Banking and Securities Commission, having the opinion of the Bank of Mexico, and

CONSIDERING

That on January 27, 2016, the Decree declaring reforms and additions to various provisions of the Political Constitution of the United Mexican States was published in the Official Gazette of the Federation, regarding the delinking of the minimum wage, through which it was established that the Measurement and Update Unit will be used in substitution of the minimum wage as the unit of account, index, base, measure or reference to determine the amount of obligations, and other scenarios provided for in federal, local laws, and in any legal provision emanating from the aforementioned;

That the Fourth Transitory Article of the aforementioned Decree establishes that the Federal Public Administration must make adjustments in the laws and regulations corresponding to it, within the scope of its competence, in order to eliminate references to the minimum wage as a unit of account, index, base, measure or reference and substitute them with those related to the Measurement and Update Unit;

That, in view of the above, it is necessary to make the corresponding adjustments to the General Provisions applicable to credit institutions with the aim of replacing references to the minimum wage as a unit of account, index, base, measure or reference with those related to the Measurement and Update Unit,

to comply with what is established in the aforementioned Decree, and

That, additionally, it seeks to homogenize that in all types of operations, the party that maintains the risks and economic benefits of the guarantees is the one that computes and constitutes the capital requirements for market risk. The foregoing, with the purpose of reflecting that such risk must be capitalized by whoever retains both the economic benefits and the risk of price fluctuations, unless otherwise agreed, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS
APPLICABLE TO THE

CREDIT INSTITUTIONS

SINGLE.- Articles 1, first paragraph, fraction XXIX, first paragraph, subsections a), first paragraph, b) and c); 2 Bis 100, first paragraph, fraction III, third paragraph; 2 Bis 103, first paragraph, as well as the title of the table it contains; 2 Bis 106, first paragraph and 2 Bis 118; are REFORMED; articles 1, first paragraph, fraction CXCVII; 2 Bis 99, first paragraph, fractions III and VI; 2 Bis 104 and 2 Bis 107, are ABROGATED; and
ANNEX 1-A of the "General Provisions applicable to credit institutions",
published in the Official Gazette of the Federation on December 2, 2005 and modified for the last time by the resolution published in the aforementioned dissemination medium on April 17, 2023, is SUBSTITUTED, to read as follows:

" FIRST TO FIFTH TITLES

...

List of Annexes

Annex 1

...

Annex 1-A

Integration of risk groups.

Annex 1-B to Annex 73

... "

" Article 1.

...

I. to XXVIII .

...

XXIX . . . .

Consumer: direct credits, including liquidity credits that do not have real estate guarantees, denominated in national currency, foreign currency, in UDIS or in UMA, as well as the interest they generate, granted to natural persons, derived from credit card operations, personal loans, loans for the acquisition of durable consumer goods (known as ABCD), which contemplates, among others, automotive credit and financial leasing operations that are entered into with natural persons, including those credits granted for such purposes to former employees of the Institutions.

...

Housing Mortgage: direct credits denominated in national currency, foreign currency, in UDIS or in UMA, as well as the interest they generate, granted to natural persons and destined for the acquisition of land ownership that has as its purpose the construction of housing, the acquisition, construction, self-production, remodeling or improvement of the housing, without commercial speculation purpose, including those liquidity credits guaranteed by the borrower's housing and those granted for such purposes to former employees of the Institutions.

Commercial: direct or contingent credits, including bridge credits denominated in national currency, foreign currency, in UDIS or in UMA, as well as the interest they generate, granted to legal entities or natural persons with business activity and destined for their commercial or financial activity; including those granted to financial entities other than interbank loans less than 3 business days; factoring operations, Discount and Operations of Assignment of Credit Rights; financial leasing operations that are entered into with said legal entities or individuals; credits granted to trustees acting under trusts and credit schemes commonly known as "structured". Likewise, credits granted to federal entities, municipalities and their decentralized agencies will be included, when they are subject to rating in accordance with the applicable provisions.

...

XXIX Bis. to CXCVI.

...

CXCVII.

Abrogated. "

" Article 2 Bis 99.-

...

I. and II.

...

III.

Abrogated.

IV. and V.

...

VI.

Abrogated.

VII. to IX.

...

Article 2 Bis 100.-

...

I. and II.

...

III.

...

Additionally, Operations in national currency whose yield, by interest rate or premium, is referred to the variation of the UMA, will compute simultaneously in the groups to which
Article 2 Bis 99, fractions II and V above refer.

IV. to XV.

... "

" Article 2 Bis 103.- In the case of Operations in UDIS, UMAS, as well as in national currency with real interest rate or yield referred to this, Institutions in terms of terms and procedures for compensation and capitalization requirements, in order to calculate the capital required for this type of Operations must use the same procedures indicated in Article 2 Bis 102, with the exception of what is provided by fraction II, subsection g) of said article, using for this purpose the table contained in the present
article.

...

UDi, UMA or Real interest rate in national currency

[Table]

Article 2 Bis 104.-

Abrogated. "

" Article 2 Bis 106.- In the case of Operations in UDIS, UMAS, or in national currency with yield referred to the INPC, the total net position will be determined, algebraically summing the amount of the Operations.

...

Article 2 Bis 107.-

Abrogated. "

" Article 2 Bis 118.- The market risk charge coefficients, applicable to the positions that Institutions maintain in Operations referred to nominal interest rate, surcharge and real interest rate in national currency, as well as in Operations referred to the variation of the UMA and interest rates in foreign currency established in the Third Section of Chapter IV of the present title, will be updated and published by the Commission in the Official Gazette of the Federation, when in the judgment of the Commission so justified, hearing the opinion of the Bank of Mexico. "

TRANSITORY ARTICLES

FIRST.- This Resolution will enter into force the day following its publication in the Official Gazette of the Federation.

SECOND.- Institutions that, on the date of entry into force of this Resolution, have Operations referred to the general minimum wage because they have so agreed contractually without making reference to the Measurement and Update Unit, must determine their net capital requirements for market risk exposure of the aforementioned Operations, valid before the entry into force of this Resolution, as follows.

To calculate the capital required for Operations in national currency with a yield rate referred to the variation of the general minimum wage, Institutions in terms of terms and procedures for compensation and capitalization requirements, must use the same procedures indicated in the
Article 2 Bis 102, with the exception of what is provided in its fraction II, subsection g) of said article, using for this
purpose the table contained in the present transitory article.

For the purposes of Article 2 Bis 102, fraction II, subsection a), it will be understood that the Operations are of the same term when the same level of the general minimum wage will be applicable to their settlement.

Zone

Bands

Term to expire

Market Risk Charge Coefficient
(Percentage)

From 1 to 7 days

0.03%

From 8 to 31 days

0.10%

From 32 to 92 days

0.21%

From 93 to 184 days

0.35%

From 185 to 366 days

0.71%

From 367 to 731 days

1.32%

From 732 to 1,096 days

1.99%

From 1,097 to 1,461 days

2.65%

From 1,462 to 1,827 days

3.97%

From 1,828 to 2,557 days

5.77%

From 2,558 to 3,653 days

9.06%

From 3,654 to 5,479 days

11.89%

From 5,480 to 7,305 days

14.73%

More than 7,306 days

18.28%

In Operations in national currency with yield referred to the variation of the general minimum wage general, the total net position will be determined, algebraically summing the amount of the Operations.

The capital requirement will be the amount resulting from applying to the absolute value of the total net position a market risk charge coefficient equivalent to 1.25 percent of the percentage of increase in the general minimum wage observed in the month being computed, and in the 11 months immediately preceding it.

THIRD.- Institutions must continue reporting until maturity the Operations referred to the general minimum wage that they still maintain before the entry into force of this Resolution, because they have so agreed contractually, without making reference to the Measurement and Update Unit in the specific items established for that purpose in the corresponding regulatory forms or reports.

Respectfully

Mexico City, September 4, 2023.- President of the National Banking and Securities Commission, Dr. Jesús de la Fuente Rodríguez.- Signature.

ANNEX 1-A

INTEGRATION OF RISK GROUPS

FOR MARKET RISK.

In addition to what is established in Title First Bis of the provisions, the groups in which the Operations exposed to market risk are classified, indicated in Article 2 Bis 99 of the provisions, will be integrated by the Operations indicated below:

1.1

OPERATIONS IN NATIONAL CURRENCY, WITH NOMINAL INTEREST RATE OR WITH YIELD REFERRED TO THIS.

Demand deposits received. Demand deposits, bank deposits in checking accounts and savings deposits (hereinafter referred to as deposits), must be classified, indistinctly, in bands 1 and 2 of the Table named "Nominal interest rate in national currency", contained in subsection d), of fraction II, of Article 2 bis 102, when these accrue an interest rate higher than 50 percent of the annual rate of yield of the Certificates of the Treasury of the Federation for 28 days, in primary placement during the period for which interest is calculated for said deposits, and in bands 1 to 5 when they do not accrue interest or this is equal to or lower than the rate referred.

Additionally, Institutions may classify the deposits mentioned in the previous paragraph using the following standard model:

The aforementioned deposits may be classified indistinctly in bands 1 to 6 of the Table named "Nominal interest rate in national currency", contained in subsection d), of fraction II, of Article 2 Bis 102. The maximum percentage of the amount of said deposits that may be classified will be the one corresponding according to the result of the degree of stability that the deposits maintain and of the sensitivity of the passive interest rates of said deposits with respect to market interest rates, which is obtained from the following relationship:

SE = (1- W ) * (1 - b max)

Where:

b max = Maximum value of the 95 percent confidence interval of the estimated coefficient of sensitivity of the passive interest rates of the deposits with respect to the market interest rate (Cetes for 28 days) (1) .

W = Represents the degree of stability of the deposits measured as the greatest change monthly negative percentage of the balance of the deposits (2) .

According to the result of sensitivity and stability (SE) obtained, Institutions will be classified into four groups and will apply the Maximum Percentage of demand deposits that may be classified indistinctly in bands 1 to 6, in accordance with the following table:

GROUP

RANGE

MAXIMUM PERCENTAGE (MP)

SE<=0

0 < SE <= 30

III

30 < SE<= 70

70 < SE <= 100

For the amount resulting from the difference between the total of demand deposits and the maximum percentage of demand deposits that can be classified in bands 1 to 6, the provisions of the first paragraph of this subsection must be considered.

The Commission will make known to each Institution during the first fifteen days of the month of December of each year, the value of sensitivity and stability (SE) that they will use during the immediate subsequent calendar year in accordance with the calculation performed by the Bank of Mexico using monthly information for a minimum period of 48 months that must be the same for all Institutions. For this reason, the Bank of Mexico must send the result of said calculation to the Commission for each Institution no later than the first business day of December of each year.

To Institutions that do not have minimum information of the last 48 months, the provisions of the second paragraph of this subsection will not apply.

Institutions may statistically determine the stability in deposits and the sensitivity of the passive interest rates of said deposits with respect to the rates market using an internal model, for which they must have written approval from the Commission. Stable deposits under internal model may be classified in bands greater than those referred to in the preceding paragraphs and will be carried out indistinctly each period, up to the maximum period of demonstrable stability.

Institutions, in order to use an internal model to statistically determine the stability in deposits, must adhere to the following:

Demonstrate to the Commission that they have a solid policy for comprehensive risk management.

Determine and document the classification of deposits in each band.

Ensure that the classification of deposits is consistent for a minimum period of twelve months and is supported by statistical evidence.

Demonstrate, through the procedures and methodologies included in the models, the historical performance of stability in deposits, as well as the sensitivity of the passive interest rates of said deposits to variations in the market interest rate (Cetes 28 days).

Document the procedures, methodologies and qualitative and quantitative processes used in the model.

Perform backtesting on the internal model of stability in deposits that demonstrate that the measurements made are reliable.

Ensure that the information used in the internal models of stability in deposits and of sensitivity of the passive interest rates of said deposits to the variations in the market interest rate (Cetes 28 days) is reliable, complete and timely.

Institutions that use an internal model may classify stable deposits according to the previous paragraph, but in no case, the sum of the weighted assets subject to credit risk, the weighted equivalent positions subject to market risk, as well as the weighted equivalent positions subject to Operational Risk derived from the model, must register a reduction greater than 12.5 percent with respect to said sum if the standard model indicated in the second paragraph of this subsection had not been used. Regardless of the foregoing, the reduction referred to in the paragraph may not exceed in any case two percentage points of the Capitalization Index, considering the sum of the weighted assets subject to credit risk, the weighted equivalent positions subject to market risk, as well as the weighted equivalent positions subject to Operational Risk.

The Commission may request that Institutions adhere to what is referred to in the first paragraph of subsection a. of 1.1 of the present annex, when in its judgment there are changes significant in the stability of said deposits, in the degree of sensitivity of the passive interest rates of said deposits to variations in the market interest rate (Cetes 28 days), failures in the processes and practices of comprehensive risk management or, in case that a deterioration in the financial stability, solvency or liquidity of the Institution is observed.

The authorization that, if any, the Commission grants will have a validity of 12 months counted from its granting. In any case, Institutions must apply consistently the internal model to statistically determine the stability in deposits during the 12 months for which it was authorized.

When Institutions request again the authorization of their internal model to determine statistically the stability in deposits they must, if any, include the differences that exist with the methodology, assumptions, parameters and processes related to statistically determine the stability in deposits with respect to the last authorized internal model.

The Commission may revoke at any time the authorization to use the internal model to statistically determine the stability in deposits, when in its judgment it considers that the calibration assumptions are not those considered in said model or well, when it considers that the internal model to statistically determine the stability in deposits does not meet the assumptions under which it was authorized.

Term bank deposits received.

Holding of securities, including those granted as collateral without transfer of ownership, whose yield charged to the issuer by interest rate or discount rate, is referred to nominal interest rates, regardless of whether the securities in question have been acquired through a securities lending operation or a repo operation with a premium that is not referred to nominal interest rates or any other operation.

Securities to be received by repo operations, whose yield of the securities charged to the issuer, by interest rate or discount rate, is referred to interest rates nominal, regardless of whether in the corresponding repo operation a premium that is not referred to nominal interest rates had been agreed. 1 /

National currency to be delivered by repo operations of any type of securities, whose premium of the repo is referred to nominal interest rates. 1 /

Securities to be delivered by repo operations, whose yield of the securities charged to the issuer, by interest rate or discount rate, is referred to interest rates nominal, regardless of whether in the corresponding repo operation a premium that is not referred to nominal interest rates had been agreed . 1 /

National currency to be received by repo operations of any type of securities, whose premium of the repo is referred to nominal interest rates. 1 /

Securities to be received: for pending settlement purchases; for securities loans, acting as borrower, pending settlement, and for securities lending acting as lender. 1 /

Securities to be delivered: for pending sales; and for securities lending acting as lender, pending settlement, and for securities lending acting as borrower. 1 /

Futures and forward contracts, in terms of what is provided in fractions IV and VII of
Article 2 Bis 100 of the provisions.

Goods to be received as collateral (granted as collateral with transfer of ownership), denominated in national currency and whose yield is referred to interest rates nominal, in which contractually the Institution receiving the collateral maintains the right to retain the cash flows generated by said goods subject to collateral, or the capital gains and losses derived from changes in their price.

Goods to be delivered as collateral (received as collateral with transfer of ownership), denominated in national currency and whose yield is referred to interest rates nominal, in which contractually the Institution granting the collateral maintains the right to retain the cash flows generated by said goods subject to collateral, or the capital gains and losses derived from changes in their price.

Options and option titles, in terms of what is provided in fraction IV of Article 2 Bis 100, of these provisions.

Operations of exchange of money flows, for the part of these that is referred to a nominal interest rate or to the yield of an instrument in national currency with nominal interest rate.

Securities portfolio forming part of the assets and, if applicable, liabilities of investment funds, in terms of what is provided in fraction IX of Article 2 Bis 100 of these provisions.

Discounted credit portfolio, without responsibility of the assignor. 2 / and 3 /

Loans and credits granted, including financial leasing operations. 2 /

Credit portfolio taken at discount, with responsibility of the assignor. 4 /

Discounted titles with endorsement (with responsibility). 2 / and 3 /

Liabilities for discount of titles with endorsement . 4 /

Public collection, loans and deposits of credit institutions, as well as other financing received, for term, that are subject to payment of a nominal interest rate.

Fixed-rate mortgage credits for housing originated with similar prudential criteria (Down payment, payment schemes, demographic data of the applicant, bank and non-bank debts in relation to their income, among others), that are exposed to the same interest rate and contractual term, that have established in the contracts the possibility of pre-payment and that are expressed in the same currency.

Institutions, with prior authorization from the Commission, may incorporate an amount of prepayment of the aforementioned mortgage credits in the calculation of the duration referred to in Annex 1-N of these provisions. This amount may be incorporated up to the corresponding lower limit of the confidence interval used to measure the precision of the internal model indicated in subsection iv of the following paragraph, provided that this limit considers at least scenarios regarding which the interest rate increases by at least two standard deviations with respect to its estimated average level.

For the purposes of the previous paragraph, Institutions must present to the Commission the request for authorization of their internal model to calculate the prepayment amount, which must be signed by the members of the risk committee and accompanied by the following:

i. The evidence that the credits to be considered meet the characteristics indicated in the first paragraph of this subsection v.

ii. The authorization of the Board of Directors regarding the use of the internal model to calculate the prepayment amount for the purpose of calculating the Institution's capital requirements.

iii. The methodology, assumptions, parameters and processes related to the calculation of the prepayment amount, which must be documented in the risk management manual.

iv. The evaluation of the precision of the internal model to calculate the prepayment amount with a backtesting test that is carried out with information from a complete economic cycle. The stated cycle cannot be less than 5 years. In any case, the precision of the internal model used must be at least 97.5 percent confidence for the 12 months in which the Institution committed to use said model.

v. The analysis of the effect on the internal model to calculate the prepayment amount that considers at least the following elements:

Current and future behavior of interest rates, as well as their influence on prepayment rates considering at least that future rates could deviate from the proposed projection up to two standard deviations of said projection in both directions.
Age of the credits since origination.
Payment seasonality.
Refinancing patterns.
Conditions and policies for the origination of credits (term, rate, Down payment, payment schemes, demographic data of the applicant, bank and non-bank debts in relation to their income, among others).
Economic conditions to which both the applicant and the collateral are exposed (appreciation or depreciation of real estate, unemployment, among others).
Defaults on fixed-rate mortgage credits for housing, including costs associated with said defaults and the various types of recovery.
In its case, the prepayment penalty.

vi. A letter signed by the General Director of the Institution containing the commitment of said Institution to present within a maximum period of 12 months from the date on which the Commission authorized the internal model to calculate the prepayment amount, its request for approval of the internal model to statistically determine the stability in deposits and the sensitivity of passive rates of these with respect to market rates, under the terms established in numeral 1.1 of this Annex.

The authorization that, if applicable, the Commission grants will have a validity of 12 months counted from its granting. In any case, Institutions must apply consistently the internal model to calculate the prepayment amount during the 12 months for which it was authorized.

When Institutions request again the authorization of their internal model to calculate the prepayment amount they must, if applicable, include the differences that exist with the methodology, assumptions, parameters and processes related to calculate the prepayment amount with respect to the last authorized internal model.

The Commission may revoke at any time the authorization to use the internal prepayment model, when in its judgment it considers that the calibration assumptions are not those considered in said model or, when it considers that the internal model does not meet the assumptions under which it was authorized.

w. The other Term Operations that are subject to charging or paying a nominal interest rate.

1.1 BIS
OPERATIONS WITH SECURITIES IN NATIONAL CURRENCY, WITH SURCHARGE.

a. Holding of securities, including those granted as collateral without transfer of ownership, denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency, regardless of whether the securities in question have been acquired through a securities lending operation or a repo operation or any other operation.

b. Securities to be received by repo operations, denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency. 1 /

c. Securities to be delivered by repo operations, denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency. 1 /

d. Securities to be received denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency: for pending settlements; for securities loans, acting as borrower, pending settlements, and for securities loans acting as lender. 1 /

e. Securities to be delivered denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency: for pending sales; for securities loans acting as lender, pending settlements, and for securities loans acting as borrower. 1 /

f. Securities to be received as collateral (granted as collateral with transfer of ownership), denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency, in which contractually the Institution receiving the collateral maintains the right to conserve the cash flows generated by said securities object of the collateral, or the gains and losses derived from changes in their price .

g. Securities to be delivered as collateral (received as collateral with transfer of ownership), denominated in national currency and whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency, in which contractually the Institution granting the collateral maintains the right to conserve the cash flows generated by said securities object of the collateral, or the gains and losses derived from changes in their price .

h. The other operations with national currency debt titles whose yield rate consists of a surcharge and a revisable rate, the latter referred to some nominal interest rate in national currency.

1.2
OPERATIONS IN UDIS AND UMAS, AS WELL AS IN NATIONAL CURRENCY WITH REAL INTEREST RATE OR YIELD REFERRED TO THIS.

a. Time bank deposits received.

b. Holding of securities, including those granted as collateral without transfer of ownership, whose yield due to the issuer, by interest rate or discount rate, is referred to real interest rates, or to the variation in UMAS, regardless of whether the securities in question have been acquired through a securities lending operation or a repo operation with a premium that is not referred to real interest rates or UMAS or any other operation.

c. Securities to be received by repo operations, whose yield of the securities due to the issuer, by interest rate or discount rate, is referred to real interest rates, or to the variation in UMAS, regardless of whether in the corresponding repo operation a premium had been agreed that is not referred to real interest rates or the variation of the UMAS . 1 /

d. National currency to be delivered by repo operations of any type of securities, whose repo premium is referred to real interest rates or the variation of the UMAS. 1 /

e. Securities to be delivered by repo operations, whose yield of the securities due to the issuer, by interest rate or discount rate, is referred to real interest rates, or to the variation in UMAS, regardless of whether in the corresponding repo operation a premium had been agreed that is not referred to real interest rates or the variation of the UMAS . 1 /

f. National currency to be received by repo operations of any type of securities, whose repo premium is referred to real interest rates or the variation of the UMAS. 1 /

g. Securities to be received: for pending purchases; for securities loans, acting as borrower, pending settlements, and for securities loans acting as lender. 1 /

h. Securities to be delivered: for pending sales; for securities loans, acting as lender, pending settlements, and for securities loans acting as borrower. 1 /

i. Futures and forward contracts, in terms of what is provided in subsections IV and VII of Article 2 Bis 100 of these provisions.

j. Goods to be received as collateral (granted as collateral with transfer of ownership), denominated in national currency, in UDIS or UMAS, and whose yield is referred to real interest rates or the variation of the UMAS, in which contractually the Institution receiving the collateral maintains the right to conserve the cash flows generated by said goods object of the collateral, or the gains and losses derived from changes in their price .

k. Goods to be delivered as collateral (received as collateral with transfer of ownership), denominated in national currency, in UDIS or UMAS, and whose yield is referred to real interest rates or the variation of the UMAS, in which contractually the Institution granting the collateral maintains the right to conserve the cash flows generated by said goods object of the collateral, or the gains and losses derived from changes in their price .

l. Options and optional titles, in terms of what is provided in subsection IV of Article 2 Bis 100 of these provisions.

m. Money flow exchange operations, for the part of these that is referred to a real interest rate or to the yield of an instrument in UDIS, UMAS or in national currency with real interest rate or referred to the variation of the UMAS.

n. Securities portfolio forming part of the assets and, if applicable, liabilities of investment funds, in terms of what is provided in subsection IX of Article 2 Bis 100 of these provisions.

o. Purchased credit portfolio at discount, without liability of the assignor. 2 / and 3 /

p. Loans and credits granted, including financial leasing operations. 2 /

q. Taken credit portfolio at discount, with liability of the assignor. 4 /

r. Discounted titles with endorsement (with liability). 2 / and 3 /

s. Liabilities for discounting titles with endorsement. 4 /

t. Public capture, loans and deposits of credit institutions, as well as other financing received, on term, that are subject to payment of a real interest rate or referred to the variation of the UMAS .

u. The other Term Operations that are subject to charging or paying a yield referred to real interest rates or UMAS .

1.3
OPERATIONS IN FOREIGN CURRENCY OR INDEXED TO EXCHANGE RATES, WITH INTEREST RATE.

a. Demand deposits received. As each Institution decides, interest-free checking accounts shall be classified, indistinctly, in bands 1 to 5 of the Table contained in Article 2 Bis 105 of these provisions, interest-bearing checking accounts shall be classified, indistinctly, in bands 1 and 2 of said Table.

b. Time bank deposits received.

c. Securities denominated in foreign currency or indexed to exchange rates, including those granted as collateral without transfer of ownership, whose yield due to the issuer, by interest rate or discount rate, is referred to interest rates in foreign currency, regardless of whether the securities in question have been acquired through a securities lending operation or a repo operation with a premium that is not referred to interest rates in foreign currency or any other operation. 1 /

d. Securities denominated in foreign currency or indexed to exchange rates, to be received by repo operations, whose yield of the securities due to the issuer, by interest rate and/or discount rate, is referred to interest rates in foreign currency, regardless of whether in the corresponding repo operation a premium had been agreed that is not referred to interest rates in foreign currency . 1 /

e. Foreign currency, or its equivalent in national currency, to be delivered by repo operations of any type of securities, whose repo premium is referred to interest rates in foreign currency. 1 /

f. Securities denominated in foreign currency or indexed to exchange rates, to be delivered by repo operations, whose yield of the securities due to the issuer, by interest rate or discount rate, is referred to interest rates in foreign currency, regardless of whether in the corresponding repo operation a premium had been agreed that is not referred to interest rates in foreign currency. 1 /

g. Foreign currency, or its equivalent in national currency, to be received by repo operations of any type of securities, whose repo premium is referred to interest rates in foreign currency. 1 /

h. Securities to be received: for pending purchases; for securities loans, acting as borrower, pending settlements, and for securities loans acting as lender. 1 /

i. Securities to be delivered: for pending sales; for securities loans, acting as lender, pending settlements, and for securities loans acting as borrower. 1 /

j. Futures and forward contracts, in terms of what is provided in subsections IV and VII of Article 2 Bis 100 of these provisions.

k. Goods to be received as collateral (granted as collateral with transfer of ownership), denominated in foreign currency or indexed to exchange rates, and whose yield is referred to interest rates in foreign currency, in which contractually the Institution receiving the collateral maintains the right to conserve the cash flows generated by said goods object of the collateral, or the gains and losses derived from changes in their price .

l. Goods to be delivered as collateral (received as collateral with transfer of ownership), denominated in foreign currency or indexed to exchange rates, and whose yield is referred to interest rates in foreign currency, in which contractually the Institution granting the collateral maintains the right to conserve the cash flows generated by said goods object of the collateral, or the gains and losses derived from changes in their price .

m. Options and optional titles, in terms of what is provided in subsection IV of Article 2 Bis 100 of these provisions.

n. Money flow exchange operations, for the part of these that is referred to an interest rate in foreign currency or to the yield of an instrument in foreign currency or indexed to exchange rates.

o. Securities portfolio forming part of the assets and, if applicable, liabilities of investment funds, in terms of what is provided in subsection IX of Article 2 Bis 100 of these provisions.

p. Purchased credit portfolio at discount, without liability of the assignor. 2 / and 3 /

q. Loans and credits granted, including financial leasing operations. 2 /

r. Taken credit portfolio at discount, with liability of the assignor. 4 /

s. Discounted titles with endorsement (with liability). 2 / and 3 /

t. Liabilities for discounting titles with endorsement. 4 /

u. Public capture, loans and deposits of credit institutions as well as other financing received, on term, that are subject to payment of a yield referred to interest rates in foreign currency.

v. The other Term Operations that are subject to charging or paying a yield referred to interest rates in foreign currency.

1.4
OPERATIONS IN UDIS, UMAS,
AS WELL AS IN NATIONAL CURRENCY WITH YIELD
REFERRED TO THE INPC.

This group will be integrated with the Operations included in numeral 1.2 of this annex.

1.5
OPERATIONS IN FOREIGN CURRENCY OR INDEXED TO EXCHANGE RATES.

This group will be integrated with the Operations included in numeral 1.3 of this annex as well as by the other Demand and Term Operations that must be considered to determine positions in foreign currencies in accordance with the provisions issued by the Bank of Mexico.

1.6
OPERATIONS WITH SHARES AND ON SHARES 5 /
OR WHOSE YIELD IS
REFERRED TO THE VARIATION IN THE PRICE OF A SHARE, A BASKET OF SHARES OR AN EQUITY INDEX.

a. Holding of shares, including those granted as collateral without transfer of ownership, regardless of whether the shares in question have been acquired through a share lending operation or a repo operation with a premium that is not referred to the variation in the price of a share, a basket of shares or an equity index or any other operation. 1 /

b. Holding of titles whose yield is referred to the variation in the price of a share, a basket of shares or an equity index, including those granted as collateral without transfer of ownership, regardless of whether the titles in question have been acquired through a title lending operation or a repo operation with a premium that is not referred to the variation in the price of a share, a basket of shares or an equity index or any other operation. 1 /

c. Contracting of liabilities (by issuance of titles or any other form), whose yield is referred to the variation in the price of a share, a basket of shares or an equity index. 1 /

d. Shares to be received by repo operations. 1 /

e. Money to be delivered by repo operations of any type of securities, whose repo premium is referred to the variation in the price of a share, a basket of shares or an equity index. 1 /

f. Shares to be delivered by repo operations. 1 /

g. Money to be received by repo operations of any type of securities, whose repo premium is referred to the variation in the price of a share, a basket of shares or an equity index. 1 /

h. Shares to be received: for pending purchases; for securities loans, acting as borrower, pending settlements, and for securities loans acting as lender. 1 /

i. Shares to be delivered: for pending sales; for securities loans, acting as lender, pending settlements, and for securities loans acting as borrower. 1 /

j. Futures and forward contracts, in terms of what is provided in subsection IV of Article 2 Bis 100 of these provisions.

k. Goods to be received as collateral (granted as collateral with transfer of ownership), whose yield is referred to the variation in the price of a share, a basket of shares or an equity index, in which contractually the Institution receiving the collateral maintains the right to conserve the cash flows generated by said goods object of the collateral, or the gains and losses derived from changes in their price .

l. Goods to be delivered as collateral (received as collateral with transfer of ownership), whose yield is referred to the variation in the price of a share, a basket of shares or an equity index , in which contractually the Institution granting the collateral maintains the right to conserve the cash flows generated by said goods object of the collateral, or the gains and losses derived from changes in their price .

m. Money flow exchange operations, for the part of these that is referred to the variation in the price of a share, a basket of shares or an equity index.

n. Options and optional titles (warrants), in terms of what is provided in subsection IV of Article 2 Bis 100 of these provisions.

o. Securities portfolio forming part of the assets and, if applicable, liabilities of investment funds, in terms of what is provided in subsection I of Article 2 Bis 109 of these provisions.

p. The other active or passive operations, subject to the variation in the price of a share, a basket of shares or an equity index.

2
FOR CREDIT RISK.

Without limitation to what is established in Title First Bis of the provisions, the groups in which Operations exposed to credit risk are classified, will be integrated by the Operations in national currency, UDIS, UMAS and in foreign currencies, which are specified in Articles 2 Bis 12 to 2 Bis 21, as appropriate, in accordance with the following:

2.1
Bank deposits and investments in securities comprise the respective accrued interests and, if applicable, interest and dividend coupons.

2.2
Credit Operations will be understood in their broadest sense and will comprise: taking documents of immediate collection and remittances in transit; correspondent credit; current and overdue portfolio; loans to personnel; refinancing and capitalization of interests; guarantees, letters of credit, accrued interests, and commissions and premiums accrued.

2.3
Investments charged to the pension reserve fund for personnel and seniority premiums, will be considered as one more investment in the group to which they correspond.

2.4

They shall form part of the group referred to in Article 2 Bis 12.

Investments in "debt instruments" and in subordinated obligations included in subsection b) of fraction I of Article 2 Bis 6.
Discounts on commercial paper with the guarantee of the Institution itself.
Simple credits and current account credits for subscribers of commercial paper with the guarantee of the Institution itself.
The Value Added Tax paid upon application.

2.5 To determine the accredited person and the currency of the operation: in the portfolio taken at discount with liability of the assignor, the characteristics of the financing granted through the discount operation shall be considered; and in Portfolio Cession Operations with liability of the assignor (discounted titles with endorsement), the characteristics of the credit subject to discount shall be considered.

2.6 Irrevocable commercial credit opening operations shall form part of the group referred to in Article 2 Bis 14, except for lines or parts thereof that are guaranteeing existing derivative operations, which shall form part of the group referred to in Article 2 Bis 18.

Credit line openings used as a guarantee for supply support, bid bond, performance bond, and refund guarantee shall be included in the group referred to in Article 2 Bis 14.

The issuance of "stand by" letters of credit issued to guarantee the fulfillment of financing, the payment of title issuance, the payment of title issuance for securitizations of portfolios, and other similar guarantees, shall be governed by what is established in Article 2 Bis 62.

2.7 Without prejudice to the fact that they are not exposed to credit risk, investments in shares of: banking real estate companies and companies that provide them complementary or auxiliary services in their administration or in the realization of their object, referred to in article 88 of the Law, shall form part of the group referred to in fraction I of Article 2 Bis 21. Other share investments shall not count for the purposes of this section. Also included in this section shall be the fixed assets owned by the Institution, the adjudicated assets, and the deferred assets, which are not deducted when determining Net Capital.

The investments referred to in this section shall not count for the purposes of determining the 0.6 percent referred to in fraction III of Article 2 Bis 7.

1 / Depending on the case, it includes values or money, to be received or delivered, value 24, 48, 72 or 96 hours, for pending liquidation operations: purchase, sale, loan or repo.

2 / Includes, if applicable, the refinancing or capitalization of interest.

3 / To determine market risk (currency, yield and term of the operation), the characteristics of the credit subject to discount shall be considered.

4 / To determine market risk (currency, yield and term of the operation), the characteristics of the financing through the discount operation shall be considered.

5 / Including ADRs and other similar titles.

1 The coefficient (beta) is the result of a linear regression that has as dependent variable the variation of passive interest rates and as independent variable the market interest rate (Cetes 28), using monthly data for a minimum period of 48 months. To determine the maximum value of beta (beta max), a confidence interval for beta at 95 percent is calculated.

2 The observations represent the largest negative monthly percentage change in the balance of demand deposits during a minimum period of four years. In case there is no negative monthly percentage change, the value of said variable will be zero.

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Exchange Rate and Rates as of 26/08/2026

DOLLAR 16.9460 UDIS 8.807698 TIIE 28 DAYS 6.7559% TIIE 91 DAYS 6.7931% TIIE 182 DAYS 6.8474% TIIE DE FONDEO 6.50%

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