Region

Jurisdiction

Regulator

2025-12-04 | DOF 5775137

Added 2026-08-23

Resolution modifying the General Provisions applicable to credit institutions

The National Banking and Securities Commission modifies the General Provisions applicable to credit institutions to align the regulatory treatment of credit risk exposures involving trusts with the Basel Committee's Standardized Approach. The amendments redefine credit risk exposures to explicitly include operations structured with or under trusts, establish specific risk weightings for exposures to federal entities and municipalities based on credit ratings, and introduce a new risk group for exposures to trusts and infrastructure projects. Credit institutions are required to adjust their capital calculations and reporting to comply with these changes within 90 days of the resolution's entry into force.

Mexico

Secretaria de Hacienda y Credito Publico

If the document is presented incomplete on the right margin, it is because it contains tables that exceed the default width. If this is the case, click here to view it correctly.

DOF: 04/12/2025

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.- Treasury.- Ministry of Finance and Public Credit.-

National Banking and Securities Commission.

The National Banking and Securities Commission, with the prior agreement of its Board of Directors, based on the provisions of articles 50, first paragraph, fraction I and fifth, and 98 Bis of the Credit Institutions Law; as well as 4, fractions XXXVI and XXXVIII, 12, fractions XIV and XV, and 16, first paragraph, fractions I and VI of the National Banking and Securities Commission Law, having received the opinion of the Bank of Mexico, and

CONSIDERING

That, in order to provide credit institutions with better elements to determine their capital requirements for credit risk, it is deemed necessary to clarify in their regulatory framework the treatment applicable to operations subject to credit risks with or under trusts, in line with the Standardized Approach for exposures to companies of the Basel Committee on Banking Supervision, and

That, taking the above into account, it is sought that credit institutions classify their operations subject to credit risk with or under trusts, determining the weighting to calculate capital requirements according to the risk of the operation, which will result in the stability and solvency of these financial entities, as well as a better exercise of the supervisory powers of this National Banking and Securities Commission, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS

SINGLE.- Articles 1, fraction CXXIV; 2 Bis 16, first, third, fractions I to IV, and fourth paragraphs; 2 Bis 18, first, fraction I, and third paragraphs; 2 Bis 19, first paragraph, as well as Annex 1-A, numeral 2, sub-numerals 2.2 and 2.7, are REFORMED; articles 2 Bis 16, eighth and ninth paragraphs, and 2 Bis 18, first paragraph, fraction V, are ADDED; and Annexes 1-B and 1-G of the "General Provisions applicable to credit institutions", published in the Official Gazette of the Federation on December 2, 2005, and last modified by resolutions published in the aforementioned medium of dissemination, are SUBSTITUTED, to read as follows:

" Article 1.-

. . .

I. to CXXIII.

. . .

CXXIV.

Credit Risk Exposures: to deposits, accounts receivable, advance payments, and deferred charges that are not subtracted when determining Net Capital, securities, credits, repurchase agreements, money flow exchange operations (swap), forward contracts, securities lending, options, structured operations, packages of derivative instruments, and contingent operations, as well as other banking operations exposed to credit risk according to Annex 1-A of these provisions, regardless of whether they are carried out under, or structured with or under trusts.

CXXV. to CXCVII.

. . . "

" Article 2 Bis 16 .- Group V shall be composed of Credit Risk Exposures with or under federal entities and municipalities, or their decentralized agencies, or guaranteed by the federal entity to which said municipalities or agencies belong, including those under trusts in which said public entities act as settlors and trustees.

. . .

20 percent if they are registered with the Secretariat, have Ratings from at least two Rating Agencies authorized by the Commission, and the Rating granted to the federal entity, municipality, or decentralized agency in question corresponds to at least the second category of Rating next lower than the Rating granted to the Federal Government, according to the corresponding scale, short-term or long-term, and debt in pesos or debt in foreign currency.

II.

50 percent if they are registered with the Secretariat, have Ratings from at least two Rating Agencies authorized by the Commission, and the Rating granted to the federal entity, municipality, or decentralized agency in question is in the third or fourth category of Rating next lower than the Rating granted to the Federal Government, according to the corresponding scale, short-term or long-term, and debt in pesos or debt in foreign currency.

III.

115 percent if they are registered with the Secretariat, have Ratings from at least two Rating Agencies authorized by the Commission, and the Rating granted to the federal entity, municipality, or decentralized agency in question is lower than the fourth category of Rating next lower than the Rating granted to the Federal Government, according to the corresponding scale, short-term or long-term, and debt in pesos or debt in foreign currency.

IV.

150 percent if they are not registered with the Secretariat or do not have at least two Ratings from two Rating Agencies authorized by the Commission.

In the case where two or more Ratings are granted to the federal entity, municipality, or decentralized agency in question, to determine the difference between the rating categories referred to in fractions I to III above, the Rating of that Rating Agency determined by the criteria established in article 2 Bis 25 of these provisions shall be taken.

. . .

In the case where a specific Rating of the Credit Risk Exposure in question is available, different from that granted to the public entities referred to in this article, Institutions must determine the credit risk weighting based on fractions I to III of this article, provided that such operation is registered with the Secretariat and is rated by at least one of the Rating Agencies authorized by the Commission. This is understood to mean that, if two or more specific Ratings of the Credit Risk Exposure are available, granted by the Rating Agencies authorized by the Commission, to determine the difference between the rating categories referred to in fractions I to III above, the specific Rating of that Rating Agency determined by the criteria established in article 2 Bis 25 of these provisions shall be considered.

Regarding Credit Risk Exposures under trusts in which said public entities act as settlors and trustees, which are rated by at least one Rating Agency recognized by this Commission, Institutions must use the Rating of the trust or structure as the specific Rating of said operation, understanding that the credit risk weighting must be determined based on fractions I to III of this article and that, if two or more specific Ratings of that operation are available, granted by the Rating Agencies authorized by the Commission, to determine the difference between the rating categories referred to in fractions I to III above, the specific Rating of that Rating Agency determined by the criteria established in article 2 Bis 25 of these provisions shall be considered. The foregoing shall only apply when the operations referred to in this paragraph are registered with the Secretariat and are accounted for as public debt of the beneficiary entities in accordance with the Law on Financial Discipline of Federal Entities and Municipalities, or the one that replaces it. "

" Article 2 Bis 18.-

. . .

Credit Risk Exposures with or under legal or natural persons with business activity whose Annual Net Income or Net Sales are equal to or greater than the equivalent in national currency to 14 million UDIs, considering for the calculation of the equivalent in national currency of the UDIs, the peso value that the Bank of Mexico has published in the Official Gazette of the Federation for said unit on the date of the mentioned financial statement.

. . .

II. to IV.

. . .

Credit Risk Exposures with or under trusts, other than those indicated in article 2 Bis 15, fraction II; 2 Bis 16, first paragraph; 2 Bis 19, first paragraph, and any reference to another group other than those indicated in these provisions. Likewise, the positions of Institutions derived from Securitization Schemes subject to capital requirements referred to in article 2 Bis 53 of these provisions are not considered, which must adhere to the capitalization treatment established in Section F of this Title.

. . .

The Operations included in this group must be weighted according to the Risk Grade corresponding to the credit rating assigned by any of the Rating Agencies to the issuer or counterparty in question, as provided in Annex 1-B of these provisions. In the case of Operations with or under trusts referred to in the first paragraph, fraction V of this article, only the specific Rating of the operation may be used, so the criteria established in articles 2 Bis 26 and 2 Bis 27 of these provisions shall not apply in such cases.

. . .

Article 2 Bis 19.- Group VII-B shall classify Credit Risk Exposures with or under the counterparties referred to in article 2 Bis 18, fraction I of these provisions, including those structured with or under trusts, and which are credits granted for infrastructure projects.

. . .

. . . "

TRANSITORY PROVISIONS

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

SECOND.- Credit institutions shall have up to 90 days following the entry into force of this Resolution to comply with the provisions established herein.

Respectfully,

Mexico City, November 24, 2025.- President of the National Banking and Securities Commission, Lic. Ángel Cabrera Mendoza.- Rubric.

" ANNEX 1-A

INTEGRATION OF RISK GROUPS

. . .

FOR CREDIT RISK.

. . .

2.1

. . .

2.2

Credit Operations shall be understood in their broadest sense and shall include: taking of immediate collection documents and remittances in transit; correspondent credit; credit risk portfolio stage 1, stage 2, and stage 3; loans to personnel; refinancing and capitalization of interest; guarantees, letters of credit, accrued interest, and accrued commissions and premiums, regardless of whether they are carried out under, or structured with or under trusts.

2.3 to 2.6

. . .

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 with complementary or auxiliary services in their administration or in the carrying out of their object, referred to in article 88 of the Law, shall form part of the group referred to in article 2 Bis 21, fraction I of these provisions. Other share investments shall not count for the purposes of this numeral. Also included in this numeral shall be adjudicated assets, fixed assets owned by the Institution, and advance payments and deferred charges that are not subtracted when determining Net Capital. The investments referred to in this numeral shall not count for the purposes of determining the 0.6 percent referred to in article 2 Bis 7, fraction III of these provisions. "

ANNEX 1-B

RATING AND RISK GRADE MAPPING

Long-term Rating and Risk Grade Correspondence Table

Risk Grades

Standardized Approach

Recognized Rating Scales

Global Scale

Risk Weighting

Local Mexico Scale

Risk Weighting

S&P

MOODY ' S

FITCH

HR RATINGS

A.M.

Best

Group

III

Group

VII

S&P

MOODY ' S

FITCH

RATINGS

VERUM

A.M. Best

Group

III

Group

VII

AAA

AA+

AA-

Aaa

Aa1

Aa2

Aa3

AAA

AA+

AA-

HR AAA (G)

HR AA+ (G)

HR AA (G)

HR AA- (G)

aaa

aa+

aa-

20%

A+

A-

A+

A-

HR A+ (G)

HR A (G)

HR A- (G)

20%

50%

mxAAA

AAA.mx

AAA (mex)

HR AAA

AAA/M

aaa.mx

20%

BBB+

BBB

BBB-

Baa1

Baa2

Baa3

BBB+

BBB

BBB-

HR BBB+ (G)

HR BBB (G)

HR BBB- (G)

bbb+

bbb

bbb-

50%

20%

75%

mxAA+

mxA A

mxA A-

AA+.mx

AA.mx

AA-.mx

AA+ (mex)

AA (mex)

AA- (mex)

HR AA+

HR AA

HR AA-

AA+/M

AA/M

AA-/M

aa+.mx

aa.mx

aa-.mx

50%

20%

BB+

BB-

Ba1

Ba2

Ba3

BB+

BB-

HR BB+ (G)

HR BB (G)

HR BB- (G)

bb+

bb-

100%

mxA+

mxA

mxA-

A+.mx

A.mx

A-.mx

A+ (mex)

A (mex)

A- (mex)

HR A+

HR A

HR A-

A+/M

A/M

A-/M

a+.mx

a.mx

a-.mx

100%

20%

50%

mxBBB+

mxBBB

mxBBB-

BBB+.mx

BBB.mx

BBB-.mx

BBB+ (mex)

BBB (mex)

BBB- (mex)

HR BBB+

HR BBB

HR BBB-

BBB+/M

BBB/M

BBB-/M

bbb+.mx

bbb.mx

bbb-.mx

100%

20%

75%

B+

B-

B+

B-

HR B+ (G)

HR B (G)

HR B- (G)

100%

150%

mxBB+

mxBB

mxBB-

BB+.mx

BB.mx

BB-.mx

BB+ (mex)

BB (mex)

BB- (mex)

HR BB+

HR BB

HR BB-

BB+/M

BB/M

BB-/M

bb+.mx

bb.mx

bb-.mx

100%

CCC

and lower

Caa

and lower

CCC

and lower

HR C+ (G)

HR C (G)

HR C- (G)

and lower

ccc+

ccc

ccc-

and lower

150%

mxB+

mxB

mxB-

mxCCC

mxCC

and lower

B+.mx

B.mx

B-.mx

CCC+.mx

CCC.mx

CCC-.mx

CC.mx

C.mx

and lower

B+ (mex)

B (mex)

B- (mex)

CCC (mex)

CC (mex)

C (mex)

and lower

HR B+

HR B

HR B-

HR C+

HR C

HR C-

and lower

B+/M

B/M

B-/M

C/M

D/M

and lower

b+.mx

b.mx

b-.mx

ccc+.mx

ccc.mx

ccc-.mx

and lower

150%

Not Rated

100%

Short-term Rating and Risk Grade Correspondence Table

Short-term Risk Grades

Standardized Approach

Recognized Rating Scales

Risk Weighting

Global Scale

Local Mexico Scale

S&P

MOODY ' S

FITCH

RATINGS

A.M. Best

S&P

MOODY ' S

FITCH

RATINGS

VERUM

A-1+

A-1

P-1

F1+

HR+1 (G)

HR1 (G)

AMB-1+

AMB-1

mxA-1+

mxA-1

ML A-1.mx

F1+(mex)

F1 (mex)

HR+1

HR1

1+/M

1/M

20%

A-2

P-2

HR2 (G)

AMB-2

mxA-2

ML A-2.mx

F2 (mex)

HR2

2/M

50%

A-3

P-3

HR3 (G)

AMB-3

mxA-3

ML A-3.mx

F3 (mex)

HR3

3/M

100%

HR4 (G)

AMB-4

mxB

ML B.mx

B (mex)

HR4

4/M

120%

HR5 (G)

and lower

mxC and lower

ML C.mx

and lower

C (mex) and lower

HR5 and lower

D/M and lower

150%

Unclassified short-term credits shall be weighted at 100%.

ANNEX 1-G

RATING AND RISK GRADE MAPPING FOR SECURITIZATION SCHEMES

When a Rating Agency grants a Rating, according to the scale and type of currency corresponding, Institutions must adhere to the following matrix to associate the assigned Rating with the Risk Grade detailed below.

Rating-based Method for Securitizations

Long-term Ratings and Risk Grades Global and Local Scales

Long-term Risk Grades

Internally or Inferentially Based Rating Method

Authorized Rating Scales

S&P Global Scale

MOODY'S Global Scale

FITCH Global Scale

HR RATINGS Global Scale

A.M. Best Global Scale

S&P CaVal Mexico Scale

MOODY'S Mexico Scale

FITCH Mexico Scale

HR RATINGS Mexico Scale

VERUM Mexico Scale

A.M. Best Mexico Scale

Grade 1

1.1

AAA

Aaa

AAA

HR AAA (G)

aaa

1.2

AA+

Aa1

AA+

HR AA+ (G)

aa+

1.3

Aa2

HR AA (G)

1.4

AA-

Aa3

AA-

HR AA- (G)

aa-

mxAAA

AAA.mx

AAA (mex)

HR AAA

AAA/M

aaa.mx

Grade 2

2.1

A+

HR A+ (G)

mxA A+

AA+.mx

AA+ (mex)

HR AA+

AA+/M

aa+.mx

2.2

HR A (G)

mxA A

AA.mx

AA (mex)

HR AA

AA/M

aa.mx

2.3

A-

HR A- (G)

mxA A-

AA-.mx

AA- (mex)

HR AA-

AA-/M

aa-.mx

Grade 3

3.1

BBB+

Baa1

BBB+

HR BBB+ (G)

bbb+

mxA+

A+.mx

A+ (mex)

HR A+

A+/M

a+.mx

3.2

BBB

Baa2

BBB

HR BBB (G)

bbb

mxA

A.mx

A (mex)

HR A

A/M

a.mx

3.3

BBB-

Baa3

BBB-

HR BBB-(G)

bbb-

mxA-

A-.mx

A- (mex)

HR A-

A-/M

a-.mx

Grade 4

4.1

BB+

Ba1

BB+

HR BB+ (G)

bb+

mxBBB+

BBB+.mx

BBB+ (mex)

HR BBB+

BBB+/M

bbb+.mx

4.2

Ba2

HR BB (G)

mxBBB

BBB.mx

BBB (mex)

HR BBB

BBB/M

bbb.mx

4.3

mxBBB-

BBB-.mx

BBB- (mex)

HR BBB-

BBB-/M

bbb-.mx

4.4

BB-

Ba3

BB-

HR BB- (G)

bb-

mxBB+

BB+.mx

BB+ (mex)

HR BB+

BB+/M

bb+.mx

4.5

mxBB

BB.mx

BB (mex)

HR BB

BB/M

bb.mx

4.6

mxBB-

BB-.mx

BB- (mex)

HR BB-

BB-/M

bb-.mx

Grade 5

5.1

B+

HR B+ (G)

5.2

HR B (G)

5.3

B-

HR B- (G)

5.4

CCC

Caa

CCC

HR C+ (G)

ccc+

mxB+

B+.mx

B+ (mex)

HR B+

B+/M

b+.mx

5.5

HR C (G)

ccc

mxB

B.mx

B (mex)

HR B

B/M

b.mx

5.6

HR C- (G)

ccc-

mxB-

B-.mx

B- (mex)

HR B-

B-/M

b-.mx

5.7

and lower

mxCCC

CCC+.mx

CCC (mex)

HR C+

C/M

ccc+

5.8

mxCC and lower

CCC.mx

CC (mex)

HR C

D/M

ccc

5.9

CCC-.mx

CC.mx

C.mx

and lower

C (mex) and lower

HR C- and lower

E/M and lower

ccc- and lower

Short-term Ratings and Risk Grades

Short-term Risk Grades

Internally or Inferentially Based Rating Method

Authorized Rating Scales

S&P Global Scale

MOODY'S Global Scale

FITCH Global Scale

HR RATINGS Global Scale

A.M. Best Global Scale

S&P CaVal Mexico Scale

MOODY'S Mexico Scale

FITCH Mexico Scale

HR RATINGS Mexico Scale

VERUM Mexico Scale

A-1+

A-1

P-1

F1+

HR+1 (G)

HR1 (G)

AMB-1+

AMB-1

mxA-1+

mxA-1

ML A-1.mx

F1+ (mex)

F1 (mex)

HR+1

HR1

1+/M

1/M

A-2

P-2

HR2 (G)

AMB-2

mxA-2

ML A-2.mx

F2 (mex)

HR2

2/M

A-3

P-3

HR3 (G)

AMB-3

mxA-3

ML A-3.mx

F3 (mex)

HR3

3/M

HR4 (G)

AMB-4

mxB

ML B.mx

B (mex)

HR4

4/M

HR5 (G)

and lower

mxC and lower

ML C.mx

and lower

C (mex) and lower

HR5 and lower

D/M and lower

The document you are viewing may contain text, characters, or objects that do not display correctly due to conversion to HTML format, so we recommend always taking the digitized image of the DOF or the PDF file of the edition as a reference. The content, form, and scope of published documents are the strict responsibility of their issuer.

BY DATE

INDICATORS

Exchange Rate and Rates as of 08/22/2026

UDIS

8.805261

SURVEYS

Did you like the new look of the Official Gazette of the Federation website?

Yes

Official Gazette of the Federation

Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our services menu

Electronic address: dof.gob.mx

113