Regulatory Alerts2022-09-02 | DOF 5663333Added · Updated
Resolution modifying the General Provisions applicable to credit institutions
The National Banking and Securities Commission replaces Annex 69 of the General Provisions applicable to credit institutions to establish detailed requirements for the contingency plans of multiple banking institutions. These plans must be submitted in editable electronic and physical formats and include an executive summary, a description of the institution's structure and critical functions, governance participation, and specific recovery actions with defined quantitative and qualitative indicators. The resolution mandates annual stress tests and sets a notification deadline of 24 hours for activating contingency plans, entering into force on January 1, 2023.
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