Resolution modifying the general provisions applicable to credit institutions

DOF: 26/12/2017

RESOLUTION modifying the general provisions applicable to credit institutions

At the margin, a seal with 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, after agreement by its Board of Directors and pursuant to Article 50 of the Credit Institutions Law; as well as Articles 4, fractions XXXVI and XXXVIII, and 16, fractions I and VI of the National Banking and Securities Commission Law, and with the prior opinion of the Bank of Mexico, and

CONSIDERING

That it is deemed convenient to establish, for the benefit of multiple banking institutions, that those with a credit portfolio of less than 30 billion investment units and which have shown capital sufficiency under the adverse scenarios defined by the National Banking and Securities Commission, may enjoy an extension in the deadline to establish capital requirements for operational risk, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO

CREDIT INSTITUTIONS

SINGLE.- The

transitional articles THIRD and FOURTH of the "Resolution modifying the general provisions applicable to credit institutions" published in the Official Gazette of the Federation on December 31, 2014, added by modifying resolutions published in the said dissemination organ on October 29, 2015, and July 29, 2016, are REFORMED, to read as follows:

"THIRD.- Multiple banking institutions that have an average monthly credit portfolio between January and August 2014 of less than thirty billion investment units, according to the figures at the close of each month published by the National Banking and Securities Commission, considering the value of the investment unit published by the Bank of Mexico on the corresponding date, shall adjust to what is provided in articles 2 Bis 111, 2 Bis 112, 2 Bis 113, 2 Bis 114, 2 Bis 114 a, and 2 Bis 115, as well as Annexes 1-D, 1-E, and 12-A of the "General provisions applicable to credit institutions" starting from January 1, 2016.

During the period from January 1, 2016, to October 31, 2020, the institutions referred to in this article, which use any of the basic, standard, or alternative standard indicator methods, may establish their capital requirements for operational risk as follows:

I.

They shall calculate the capital requirement for operational risk in accordance with the provisions in force.

II.

When the result of the calculation of the applicable capital requirement for operational risk is lower than the result of the average of the last 36 months of the sum of the capital requirements for credit and market risk, to establish the corresponding operational risk requirement, they shall apply the percentage indicated in the following table:

As of November 30, 2017
As of October 31, 2018
As of October 31, 2019
As of October 31, 2020
Percentage of the sum of capital requirements for credit and market risk 3 % 3 % 2 % 0 %

III.

When the result of the calculation of the applicable capital requirement for operational risk is higher than the result of the average of the last 36 months of the sum of the capital requirements for credit and market risk, to establish the corresponding operational risk requirement, they may apply the percentage indicated in the following table:

As of November 30, 2017
As of October 31, 2018
As of October 31, 2019
As of October 31, 2020
Percentage of the sum of capital requirements for credit and market risk 60 % 70 % 80 % 100 %

What is provided in the above table shall apply whenever, in either of the two immediate supervisory scenario capital sufficiency evaluations prior to the date of calculation of the operational risk capital requirement carried out in accordance with article 2 Bis 117 e. of the "General provisions applicable to credit institutions", it has been determined that the net capital of the multiple banking institutions was sufficient to keep them classified in Category I in accordance with article 220 of said provisions.

IV.

Regarding multiple banking institutions that do not fall under the circumstance of the second paragraph of the preceding fraction III, they shall calculate the capital requirement for operational risk in accordance with the provisions in force, and when the result is lower than the average of the last 36 months of the sum of the capital requirements for credit and market risk, they shall establish the corresponding operational risk requirement for the last quarter of 2017 applying a 2 % rate on said sum.

If the result of the above calculation is higher than the average of the last 36 months of the sum of the capital requirements for credit and market risk, they shall establish the corresponding operational risk requirement for the last quarter of 2017 applying an 80 % rate on said sum.

The multiple banking institutions referred to in this fraction, which use any of the basic, standard, or alternative standard indicator methods, shall establish the capital requirement for operational risk subject to the articles and annexes referred to in the first paragraph of this article starting from January 1, 2018.

The multiple banking institutions referred to in fractions II and III of this transitional article THIRD shall calculate their capital requirement for operational risk in accordance with the method they use, and must establish the full amount of said requirement starting from November 1, 2020.

Multiple banking institutions that have commenced operations between September 2014 and October 2017, and provided that in their last year of operation or with the most recent information available it is determined that they have an average monthly credit portfolio of less than thirty billion investment units, according to the figures at the close of each month published by the National Banking and Securities Commission, considering the value of the investment unit published by the Bank of Mexico, may adjust to what is provided in this transitional article.

FOURTH.- The multiple banking institutions referred to in the first paragraph of the preceding transitional article THIRD may opt to establish the following percentages of their capital requirement for operational risk, in the periods indicated in the table shown below:

As of November 30, 2017
As of October 31, 2018
As of October 31, 2019
As of October 31, 2020
Percentage of the operational risk requirement that must be maintained during the indicated period 60 % 70 % 80 % 100 %

To exercise this option, institutions must meet the circumstance provided in the second paragraph of fraction III of the preceding transitional article THIRD; regarding multiple banking institutions that do not meet this circumstance, they shall calculate the capital requirement for operational risk in accordance with the provisions in force.

In any case, multiple banking institutions that opt for the application of what is provided in this transitional article must comply with it until its conclusion, and must establish the full amount of said requirement starting from November 1, 2020.

Multiple banking institutions that have commenced operations between September 2014 and August 2017, and provided that in their last year of operation or with the most recent information available it is determined that they have an average monthly credit portfolio of less than thirty billion investment units, according to the figures at the close of each month published by the National Banking and Securities Commission, considering the value of the investment unit published by the Bank of Mexico, may adjust to what is provided in this transitional article. "

TRANSITIONAL

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

Respectfully,

Mexico City, December 18, 2017. - The President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

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