Resolution modifying the General Provisions applicable to credit institutions

DOF: 02/12/2025

RESOLUTION modifying the General Provisions applicable to credit institutions

A seal bearing the National Emblem appears at the margin, stating: United Mexican States.- Treasury.- Ministry of Treasury and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, pursuant to the agreement of its Board of Directors, based on the provisions of articles 51; 51 Bis; 96 Bis, first paragraph and 98 Bis of the Credit Institutions Law, as well as 4, fractions II, IV, XXXVI and XXXVIII; 12, fraction XV, and 16, fractions I and VI of the National Banking and Securities Commission Law, and

CONSIDERING

That on April 17, 2023, the "Resolution modifying the General Provisions applicable to credit institutions" was published in the Official Gazette of the Federation, through which the international standard for large exposures to credit risk, established by the Basel Committee on Banking Supervision, of which this National Banking and Securities Commission is a member, was incorporated into the regulatory framework. This standard seeks to strengthen provisions to limit the maximum loss of credit institutions facing a counterparty or group of interconnected counterparties that, due to their size, could endanger their solvency, as well as their continuous operation, and thereby avoid possible contagion among Multiple Banking Institutions of Local Systemic Importance or Institutions of Global Systemic Importance;

That subsequent to the entry into force and implementation of the aforementioned Resolution, changes have been identified that are necessary to provide greater certainty and legal security to credit institutions regarding the scope and observance of the regulation. As a result of the foregoing, it is provided that the definition of Financing shall exclude operations entered into with credit institutions and banking institutions from abroad with a term of up to one business day; and to clarify that participations in federal revenues or federal contributions or both, corresponding to the federal entities or municipalities, and their own revenues, may be used by credit institutions as credit risk coverage to reduce the value of their exposures and for the purpose of calculating the limits established for Large Exposures.

That, in line with the foregoing, it is necessary to specify the criteria for determining the financing limits for maximum loss facing a counterparty or group of interconnected counterparties that, due to their size, could endanger the solvency and continuous operation of credit institutions with multiple-purpose financial societies with which they maintain equity links. It has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO

CREDIT

INSTITUTIONS

SINGLE.- Articles 1, fraction LXXI, third paragraph; LXXV Bis, first paragraph and LXXXVI Bis; 52, first paragraph, fraction IV, subsection b), third and fourth paragraphs; 54, fourth paragraph, fraction II; 57 Bis 2, first paragraph; 58, second paragraph, fraction IV; 60, third and fourth paragraphs and 61, are REFORMED; Articles 1, fraction LXXXV Bis; 52, second paragraph; 54, third paragraph, subsection c) and fifth paragraph, are ADDED; and Articles 54, fourth paragraph, fractions I and III, in its second paragraph; 56, first paragraph, fraction II, and 88, first paragraph, fraction II, subsection b), numeral 11 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 the aforementioned dissemination medium, are REPEALED, to read as follows:

" Article 1.-

. . .

I. to LXX.

. . .

LXXI.

. . .

. . .

In addition to the exceptions indicated in the previous paragraph, operations entered into with other Institutions or with Foreign Banking Institutions with a term of up to one business day may not be considered as Financing.

LXXII. to LXXV.

. . .

LXXV Bis.

Large Exposures: in plural or singular, the sum of the values of the exposures that the Institution in question maintains with a person or a group of persons representing a Common Risk, when such sum is equal to or greater than 10 percent of the basic part of the Net Capital of said Institution, which is applicable in accordance with article 54 Bis of these provisions. This sum shall be subject to the limits established in article 54, or in its case, article 59 of these provisions, and such limits, as well as the corresponding treatment for excesses that occur with respect to them, shall be applicable without prejudice to the limit indicated in article 2 Bis 6, subsection s) of these provisions. For the aforementioned sum, exposures that the Institution maintains with respect to the concepts indicated below shall be included:

a) to c) . . .

. . .

LXXVI. to LXXXV.

. . .

LXXXV Bis.

Foreign Banking Institution: in plural or singular, it is that entity constituted in foreign jurisdictions that carries out banking intermediation, which is supervised and regulated in its respective jurisdiction by financial authorities that carry out tasks equivalent to those of this Commission.

LXXXVI.

. . .

LXXXVI Bis.

Global Systemic Importance Institution: in singular or plural, that multiple banking institution or Foreign Banking Institution that has been classified as a globally systemically important bank by the association constituted under Swiss legislation known as the Financial Stability Board (FSB), according to the list of said entities published by that association on its Internet website with the domain name www.fsb.org or any other that replaces it, as well as that multiple banking institution that is a branch or subsidiary of a Foreign Banking Institution that, in turn, has been identified with that same character in accordance with this fraction.

LXXXVII. to CXCVII.

. . . "

" Article 52.-

. . .

I. to III.

. . .

IV.

There is economic interdependence between legal persons that are individual counterparties of the Institution, when the sum of all Financing, determined in accordance with article 57 of these provisions, owed by each of these individual counterparties, as well as all parts of payment obligations owed by third parties and in favor of the Institution that are covered by guarantees or other Operations that said persons have entered into, in their capacity as guarantors or providers of protection, exceeds 5 percent of the basic part of the Net Capital of the Institution in question and at least one of the following criteria is met:

a)

. . .

b)

All counterparties in which, individually, 80 percent or more of their annual gross income comes from the same source of income or supplier, and such source of income or supplier is not a counterparty of the Institution.

c) to h)

. . .

Institutions, prior to granting Financing or when establishing a credit risk coverage mechanism for such Financing, shall evaluate and determine the existence of Common Risk, identifying, if applicable, whether the criteria indicated in this article are met, for which they shall use systems, instructions, mechanisms or methodologies established by the Institutions themselves and documented in their policy and procedure manuals and approved by the competent bodies, which shall be available to the Commission at all times. For the foregoing, Institutions shall consider that the financial information of the counterparties required to make such evaluation shall be the last available and not have an age greater than 18 months at the time of the evaluation.

With respect to Multiple Banking Institutions of Local Systemic Importance and Institutions of Global Systemic Importance, the evaluation of compliance with the criteria indicated in this article shall be subject to a review, at least once a year, by their respective Boards or bodies they designate, while, for the rest of the Institutions, such review shall be carried out at least every two years.

The results of the evaluations shall be recorded in a report signed and approved by the General Manager.

The risk committee shall approve it, without the vote of the General Manager, and, once done, it shall be presented to the Board and subsequently sent to the Commission, within the first 20 business days of the month of March following the annual or biennial period, as applicable, to which the report refers.

. . .

. . . "

" Article 54.-

. . .

. . .

. . .

a) and b)

. . .

c)

When one or more counterparties of an Institution are under the Control of Multiple Banking Institutions of Local Systemic Importance or Institutions of Global Systemic Importance, or meet the criteria of economic interdependence with them, in accordance with article 52, fraction IV of these provisions, or any other criterion of Common Risk referred to in article 1, fraction CLVIII of these provisions, they shall be considered in the same group of Common Risk with the Institutions indicated, and subject to the maximum limit established in subsection a) of this article.

The foregoing shall not be applicable when the indicated counterparties correspond to multiple-purpose financial societies, entities and companies referred to in fractions II and III of the fourth paragraph of this article; in such case, the limit and treatment provided for in the fourth and fifth paragraphs, respectively, of this article shall apply.

Furthermore, Institutions shall apply the following limits to the Large Exposures described below:

I.

Repealed.

II.

Each of the Large Exposures that the Institution in question maintains with each of the multiple-purpose financial societies with respect to which said Institution is the holder of more than 50 percent of the shares representing its share capital, which shall have a maximum limit that shall not exceed 100 percent of the basic part of the Net Capital of the respective Institution. For the compliance with this limit, the treatments described in articles 57 Bis to 57 Bis 2 of these provisions shall not apply.

III.

. . .

Repealed

When one or more counterparties of an Institution are not considered in the previous fractions II and III, but are under the Control of the multiple-purpose financial societies, entities and companies referred to in those fractions, or meet the criteria of economic interdependence in accordance with article 52, fraction IV of these provisions, exposures with said counterparties shall not be subject to the limits applicable to the previous fractions II and III; but their exposures shall be subject to the treatments provided for in the second and third paragraphs, as applicable, of this article. "

" Article 56.-

. . .

I.

. . .

II.

Repealed.

III. to X.

. . .

. . .

. . . "

" Article 57 Bis 2.- Unless otherwise specified, for the purpose of calculating the limits indicated in this section, Institutions shall reduce the value of their exposures by applying credit risk coverage techniques contained in Title First Bis, Chapter III, Second Section, Section E of these provisions for the calculation of capital requirements for credit risk under the standard method. Additionally, for the purpose of reducing the value of their exposures, Institutions may recognize participations in federal revenues, federal contributions and own revenues of the federal entities or municipalities, when they meet the requirements established in Annex 24, fraction II, subsection b), numerals 4 and 5 of these provisions, determining the covered part and the uncovered portion in accordance with Article 2 Bis 77, fraction I, second paragraph of these provisions, specifically with respect to procedural rules for other non-financial real guarantees.

. . .

I. and II.

. . .

. . . "

" Article 58.-

. . .

. . .

I. to III.

. . .

IV.

Those corresponding to the 20 largest exposures calculated in accordance with articles 57, 57 Bis, 57 Bis 1 and 57 Bis 2 of these provisions, regardless of the values of said exposures in relation to the basic part of the Net Capital of the Institution, for which the exposures referred to in the previous fraction shall not be considered. "

" Article 60.-

. . .

. . .

The risk committee of each Institution shall evaluate compliance with the limits established in articles 54 and 59 of these provisions, and at least annually, shall review and, if applicable, update the quantitative criteria, instructions and systems used for the identification of Common Risk among the Institution's counterparties.

Institutions are obligated to communicate to the Commission any non-compliance detected, having previously informed the risk committee, within two business days following the date on which such non-compliance was detected. Such communication shall include the immediate actions to be taken to restore compliance with the limits that have been exceeded. Without prejudice to the sanctions that may correspond in case of non-compliance with the referred limits, Institutions shall immediately adhere to the treatment established in article 2 Bis 6, fraction I, subsection t) of these provisions.

Article 61.- When, due to events unrelated to the Institution's decisions or not foreseen in its Desired Risk Profile, and subsequent to the granting of Financing or the coverage of guarantees, Credit Insurance, Credit Derivative Operations and Protection Operations against payment defaults of its debtors, the Institution exceeds the maximum limits referred to in articles 54 and 59 of these provisions, it may request the Commission for an exception to the subtraction of the concept established in article 2 Bis 6, fraction I, subsection t) of these provisions.

The request indicated in the previous paragraph shall be presented to the Commission within 10 business days following the date on which the Institution has found itself in such situation and shall be accompanied by a scheduled plan signed by the General Manager of the Institution and approved by the risk committee, with the explanation of the events that gave rise to the excesses in the financing limits, the documentary evidence supporting such explanation, as well as the measures that the Institution shall assume in order to comply within a period not exceeding three months with what is provided in the aforementioned article 54, or in its case, article 59 of these provisions. For this purpose, the Commission may grant a single extension for up to the same period established in this paragraph, if in its judgment, such extension is duly justified, detailing the causes for which the Institution has not been able to comply with what was planned to adjust to the established limits, provided that they are unrelated to the Institution, and provided that the phases of the plan have been fulfilled in a timely and proper manner. In such plan, Institutions that have investments in securities or equity and debt titles may contemplate a divestment program, independent of the measures related to the capital requirements applicable, or the manner in which they will adapt to the provisions of this section. Once the Commission reviews the request, it may order corrections or request additional information, which shall be attended to within the periods determined by it. Likewise, the Institution shall keep evidence of the progress made in accordance with the scheduled plan, which shall be available to the Commission at all times, and send to the referred Commission through the Vice Presidency in charge of its supervision, within ten business days following the one in which the deadline or the deadline for the execution of said plan has concluded, a final report regarding its compliance.

When, in the judgment of the Commission, the ordered corrections have not been resolved within the required period, the proposed measures prove inadequate or insufficient or it is considered that the excesses to the limits are not attributable to the events referred to in the first paragraph of this article, the Commission shall have the authority to reject the request, whereby Institutions shall observe, at all times, what is provided in article 2 Bis 6, fraction I, subsection t) of these provisions.

Likewise, multiple banking institutions shall verify that the measures referred to in the second paragraph of this article are included in the next update of their Contingency Plan. "

" Article 88.- . . .

I.

. . .

II.

. . .

a)

. . .

b)

. . .

1. to 10.

. . .

Repealed.

III. to IX.

. . .

. . . "

TRANSITORY PROVISIONS

FIRST.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation, except for what is provided in the following transitory article.

SECOND.- Institutions shall have until March 1, 2026, to adjust to the A-3511 report of the R35 Series Large Exposures, in accordance with what is established in this Resolution.

Respectfully,

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

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