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

DOF: 25/10/2017

RESOLUTION modifying the general provisions applicable to credit institutions

A seal bearing 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 prior agreement of its Board of Directors and based on what is established by Article 51 of the Credit Institutions Law; as well as Articles 4, sections II, XXXVI and XXXVIII, and 16, sections I and VI of the National Banking and Securities Commission Law, and

CONSIDERING

That it is convenient to establish, for the benefit of credit institutions, that they will not be obligated to comply with the maximum financing limits applicable to them, when they enter into operations with unstructured public trusts that have as a payment source the participations or contributions in federal revenues corresponding to the federative entities or municipalities that constitute them, and regarding which, there is a mandate from the federative entity or municipality to the Ministry of Finance and Public Credit for the delivery of the affected federal participations as the payment source for said financings, given that such operations carry a risk equivalent to those entered into directly with federative entities and municipalities that possess these same guarantees or payment sources, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS

SOLE ARTICLE.- Article 56, section II of the "General Provisions Applicable to Credit Institutions", published in the Official Gazette of the Federation on December 2, 2005 and modified through Resolutions published in said dissemination medium on March 3 and 28, September 15, December 6 and 8, 2006; January 12, March 23, April 26 and November 5, 2007; March 10, August 22, September 19, October 14 and December 4, 2008; April 27, May 28, June 11, August 12, October 16, November 9, as well as 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 and December 20, 2010; January 24 and 27, March 4, April 21, July 5, August 3 and 12, September 30, October 5 and 27, and December 28, 2011; June 19, July 5, October 23, November 28 and December 13, 2012; January 31, April 16, May 3, June 3 and 24, July 12, October 2 and December 24, 2013; January 7 and 31, March 26, May 12 and 19, July 3 and 31, September 24, October 30, as well as 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, as well as December 16 and 31, 2015; April 7 and 28, June 22, July 7 and 29, August 1, September 19 and 28, and December 27, 2016; January 6, April 4 and 27, May 31, June 26, July 4 and 24, August 29, and October 6, 2017, shall read as follows:

"Article 56.-

...

II.

Mexico City, federative entities or municipalities, provided that said Financings are guaranteed or have as a payment source the participations or contributions in federal revenues corresponding to them, and regarding which irrevocable instructions have been issued to the Ministry through the Federal Treasury or to the competent state authorities, to apply the aforementioned participations or contributions to the payment of said Financings; as well as with unstructured public trusts constituted by the aforementioned subjects, when they have as a payment source the participations or contributions in federal revenues corresponding to them, and regarding which they grant a mandate to the Ministry for the delivery of the aforementioned affected participations or contributions as the payment source for said financings. For these purposes, the guarantee or payment source must be constituted or, in its case, adjusted to what is provided in Articles 9 and 50 of the Fiscal Coordination Law.

III. to V.

..."

TRANSITORY

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

Respectfully,

Mexico City, October 17, 2017.- The President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

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