Resolution modifying the general provisions applicable to credit institutions

DOF: 22/01/2018

RESOLUTION modifying the general provisions applicable to credit institutions

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, after agreement of its Board of Directors and based on what is provided in 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 having the prior opinion of the Bank of Mexico, and

CONSIDERING

That on December 26, 2017, the "Resolution modifying the general provisions applicable to credit institutions" was published in the Official Gazette of the Federation, whose object is to establish a benefit for certain multiple banking institutions so that they can enjoy an extension in the deadline to constitute the capital requirements for operational risk, and

That it is necessary to clarify the formula for calculating the benefit in order to allow the proper application of the aforementioned benefit, safeguarding the financial stability of said multiple banking institutions and the financial system as a whole, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS

SINGLE.- The THIRD and FOURTH transitional articles 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 aforementioned dissemination organ on October 29, 2015, and July 29, 2016, and reformed by resolutions published in the same newspaper on December 26, 2017, are REFORMED, to read as follows:

"THIRD.- Multiple banking institutions that have a monthly average 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 in Annexes 1-D, 1-E and 12-A of the "General provisions applicable to credit institutions" starting from January 1, 2016.

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

I.

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

II.

When the result of the calculation of the capital requirement for operational risk referred to in the previous fraction I is lower than the result of multiplying the percentage established for the period indicated in the following table, by the average of the last 36 months of the sum of the capital requirements for credit risk and market risk, the capital requirement for operational risk that must be constituted will be equal to the result of said multiplication.

Period

Percentage

1st Semester

5%

2nd Semester

4%

1st Semester

3%

2nd Semester

2%

From 2018 until October 2020

III.

When the result of the calculation of the capital requirement for operational risk referred to in the previous fraction I is higher than the result of multiplying the percentage established for the period indicated in the following table, by the average of the last 36 months of the sum of the capital requirements for credit risk and market risk, the capital requirement for operational risk that must be constituted will be equal to the result of said multiplication.

Period

Percentage

1st Semester

15%

2nd Semester

30%

1st Semester

45%

From July to November

80%

December

60%

From January to September

From October to December

70%

From January to September

From October to December

80%

From January to October

Starting from December 2017, what is provided in this fraction will be applicable whenever in any of the two immediate supervisory scenario capital adequacy evaluations prior to the date of calculation of the operational risk capital requirement that is carried out in accordance with Article 2 Bis 117 e. of the "General provisions applicable to credit institutions", it has been notified by the National Banking and Securities Commission 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.

Starting from December 2017, for the calculation of the capital requirement for operational risk of multiple banking institutions that do not fall under the case in the second paragraph of fraction III of this article, they must carry it out in accordance with the provisions in force, and when the result of the calculation of the capital requirement for operational risk is higher than the result of multiplying eighty percent, by the average of the last 36 months of the sum of the capital requirements for credit risk and market risk, the capital requirement for operational risk at that date will be this latter result.

Starting from January 1, 2018, multiple banking institutions that do not fall under fraction III, second paragraph of this article, must constitute the capital requirement for operational risk in accordance with the provisions in force.

V.

If the result of the calculation of the capital requirement for operational risk from January 2016 to October 2020 referred to in fraction I of this transitional article is equal to or greater than the result of the multiplication referred to in the previous fraction II, and equal to or less than the result of the multiplication in accordance with fraction III of this transitional article, the capital requirement for operational risk that must be constituted will be the one calculated subject to the articles and annexes referred to in the first paragraph of this article.

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

Multiple banking institutions that have started operations from September 1, 2014, until January 31, 2018, and provided that in their last year of operation or with the most recent information they have, it is determined that they have a monthly average 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 previous THIRD transitional article may opt to constitute the following percentages of their capital requirement for operational risk calculated in accordance with the provisions in force, in the periods indicated in the table shown below:

Period

Percentage of the capital requirement for operational risk that must be maintained during the indicated term

2nd Semester

30%

1st Semester

45%

From July to November

80%

December

60%

From January to September

From October to December

70%

From January to September

From October to December

80%

From January to October

To exercise the option referred to in this transitional article, multiple banking institutions must inform in writing to the National Banking and Securities Commission that they will be subject to what is provided in this transitional article, indicating whether to carry out the calculation of the capital requirements for operational risk they will continue with the approach they have used until before the date of publication of this Resolution or whether they will use a standard or alternative standard approach in accordance with the General provisions applicable to credit institutions.

Starting from December 2017, to continue exercising this option, institutions must be in the case provided for in the second paragraph of fraction III of the previous THIRD transitional article; in the case of multiple banking institutions that do not meet this case from that date, they must calculate the capital requirement for operational risk in accordance with the provisions in force.

Multiple banking institutions that had exercised the option of this FOURTH transitional article before December 2017 and on that date do not fall under the case provided for in the second paragraph of fraction III of the previous THIRD transitional article, the capital requirement for operational risk at December 31, 2017, that they must constitute will be eighty percent of the capital requirement for operational risk that results 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 constitute the entirety of the capital requirement for operational risk starting from November 1, 2020.

Likewise, multiple banking institutions must maintain during the periods indicated in the table referred to in this article, a capital requirement for operational risk that cannot be lower than that registered by said institutions on June 30, 2016. When the calculation of the capital requirement for operational risk in accordance with the General provisions applicable to credit institutions results in lower than that registered on June 30, 2016, the capital requirement for operational risk to be constituted will be the one corresponding in accordance with the provisions in force without applying the percentages indicated in the table of this transitional article.

Multiple banking institutions that have started operations from September 1, 2014, until January 31, 2018, and provided that in their last year of operation or with the most recent information they have, it is determined that they have a monthly average 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 will enter into force the day following its publication in the Official Gazette of the Federation.

Respectfully

Mexico City, January 17, 2018.- In substitution for the absence of the President of the National Banking and Securities Commission, based on Article 54 of the Internal Regulations of the National Banking and Securities Commission.- The Vice President of Regulation of the National Banking and Securities Commission, Arcelia Olea Leyva.- Rubric.

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