Regulatory Alerts2021-12-15 | DOF 5638356Added · Updated
Resolution modifying the General Provisions applicable to credit institutions
The National Banking and Securities Commission amends Accounting Criteria A-2 and D-4 within the General Provisions applicable to credit institutions to replace the use of the FIX exchange rate with the closing day exchange rate published by the Bank of Mexico for financial reporting and cash flow conversion. This change requires entities to use the closing rate to ensure consistency between financial statement recognition and treasury operations, addressing discrepancies caused by the time difference between FIX determination and the end of the business day. The resolution enters into force on December 15, 2021.
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