Resolution modifying the general provisions applicable to credit institutions — SHCP — MX

DOF: 31/05/2017

RESOLUTION modifying the general provisions applicable to credit institutions

A seal with the National Coat of Arms appears at the margin, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, with the approval of its Board of Directors and based on the provisions of Article 50 of the Credit Institutions Law; as well as Articles 4, sections XXXVI and XXXVIII, and 16, sections I and VI of the National Banking and Securities Commission Law; and

CONSIDERING

That in order to address the high volatility recorded by the exchange rate of the peso against the dollar in recent months and to promote a more orderly functioning in the foreign exchange market, the Bank of Mexico implemented a foreign exchange hedging program payable at maturity based on differences in national currency, which involves the participation of multiple banking institutions in auctions where its counterparty is the Bank of Mexico. Therefore, it is necessary to establish the respective treatment for the calculation of capital requirements, establishing a credit risk weight equal to 0%, since there is no credit risk when it comes to operations with said Central Institute, it has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS

SOLE ARTICLE. Article 2 Bis 98 b, last paragraph, is ADDED to the "General Provisions Applicable to Credit Institutions", published in the Official Gazette of the Federation on December 2, 2005, modified by Resolutions published in the aforementioned Official Gazette on March 3 and 28, September 15, December 6 and 8, 2006, January 12, March 23, April 26, November 5, 2007, March 10, August 22, September 19, October 14, December 4, 2008, April 27, May 28, June 11, August 12, October 16, November 9, December 1 and 24, 2009, January 27, February 10, April 9 and 15, May 17, June 28, July 29, August 19, September 9 and 28, October 25, November 26, December 20, 2010, January 24 and 27, March 4, April 21, July 5, August 3 and 12, September 30, October 5 and 27, December 28, 2011, June 19, July 5, October 23, November 28, December 13, 2012, January 31, April 16, May 3, June 3 and 24, July 12, October 2, December 24, 2013, January 7 and 31, March 26, May 12 and 19, July 3 and 31, September 24, October 30, December 8 and 31, 2014, January 9, February 5, April 30, May 27, June 23, August 27, September 21, October 29, November 9 and 13, December 16 and 31, 2015, April 7 and 28, June 22, July 7 and 29, August 1, September 19 and 28, December 27, 2016, January 6, April 4 and 27, 2017, respectively, to read as follows:

"Article 2 Bis 98 b.-

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Table

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In the case of operations subject to the capital requirement included in this section that are under the responsibility of the Bank of Mexico, Institutions must apply a credit risk weight of 0 percent."

TRANSITORY

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

Respectfully,

Mexico City, May 24, 2017. - The President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

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