Regulatory Alerts2017-07-04 | DOF 5488880Added
Resolution modifying the general provisions applicable to credit institutions
The resolution amends Annex 33, Criterion B-2, regarding the accounting criteria for credit institutions' investments in securities. It extends the period during which held-to-maturity securities can be sold or reclassified without losing that classification status, specifically by clarifying the requirements for isolated events outside the institution's control. The changes apply prospectively, meaning institutions do not need to re-evaluate prior classifications, but must disclose significant accounting changes in financial statement notes. The resolution entered into force the day after its publication in the Official Gazette on July 5, 2017.
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