Resolution modifying the General Provisions applicable to Development Agencies and Development Entities

DOF: 24/07/2025

RESOLUTION modifying the General Provisions applicable to Development Agencies and Development Entities

A seal bearing the National Coat of Arms 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, based on the provisions of Articles 98 Bis and 125, paragraph five of the Credit Institutions Law; Article 33, paragraph one of the Law of the National Institute for Consumer Protection for Workers; Article 66, paragraph one, fractions II and IV of the Law of the National Housing Fund for Workers; Article 190, paragraph two of the Law of the Institute for Social Security and Services for State Workers; as well as Articles 4, fractions II, III, V, XXXVI and XXXVIII and 16, fraction I of the Law of the National Banking and Securities Commission, and

CONSIDERING

That, in accordance with Article 78 of the General Law for Regulatory Improvement and with the aim of reducing the compliance cost of this modifying resolution, the National Banking and Securities Commission, through the issuance of the "Resolution modifying the General Provisions applicable to Brokerage Houses" published in the Official Gazette of the Federation on October 3, 2017, specified the information that allows verifying the honorability and satisfactory credit history of potential shareholders, board members, and other relevant executives of a brokerage house, consistent with what is required in the Securities Market Law;

That, it is necessary to make adjustments to the regulations applicable to Development Agencies and Development Entities regarding special accounting criteria and special accounting records, in order to provide legal certainty regarding natural phenomena that trigger the condition for their authorization and the requirements they must meet to demonstrate adverse impact on the solvency or liquidity of those financial entities and, if applicable, on the stability of the financial system as a whole, or when they are undergoing financial cleanup or corporate restructuring processes;

That, in this sense, and to provide Development Agencies and Development Entities with better elements, the information they must present to obtain authorization and application of said special accounting criteria and special accounting records is established, which will benefit the stability of the financial system as a whole, and which in turn allows the National Banking and Securities Commission to better exercise its authorization and supervision powers; therefore, it has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO DEVELOPMENT AGENCIES AND DEVELOPMENT ENTITIES

SOLE.- Article 293 is REFORMED and Articles 293 Bis and 293 Bis 1 are ADDED to the "General Provisions applicable to Development Agencies and Development Entities", published in the Official Gazette of the Federation on December 1, 2014, and modified through resolutions published in said dissemination medium, to read as follows:

" Article 293 .- The Commission may authorize Development Agencies and Development Entities to apply special accounting criteria temporarily regarding the application of accounting criteria contained in Annexes 37 and 38 of these provisions, respectively, when competent authorities issue declarations of emergency or natural disaster due to disruptive natural phenomena that generate effects on the economy that, in the opinion of the Commission, could cause an adverse impact on the solvency or liquidity of two or more Development Agencies or Development Entities and, if applicable, on the stability of the financial system.

For the purposes of the foregoing, a disruptive natural phenomenon shall refer to that mentioned in the General Law for Civil Protection or the law that replaces it.

To obtain authorization for the application of special accounting criteria, the following must be sent to the Commission at a minimum:

I.

Detailed description of the requested special accounting criteria, as well as the period and geographic area of application.

II.

Detailed narrative of the economic effects caused or estimated to be caused by the disruptive natural phenomenon.

III.

Estimation of the impact that the economic effects could have on the solvency, liquidity, and those indicators related to the application of special accounting criteria of the affected Development Agencies or Development Entities and, if applicable, on the stability of the financial system.

IV.

Explanation of how the special accounting criteria will help reduce or prevent the effects referred to in the preceding fractions.

The authorization request must be sent in a free format, signed by the legal representative of the Development Agencies and Development Entities, accompanied by documents proving their legal personality.

Until the Commission authorizes the application of special accounting criteria, Development Agencies and Development Entities must continue using the accounting criteria contained in Annex 37 and Annex 38 of these provisions, as applicable.

The validity for the application of authorized special accounting criteria may be extended only once for a period that cannot exceed the originally granted term, when, in the opinion of the Commission, the applicants demonstrate that the economic effects persist on the date of the extension request.

Article 293 Bis.- The Commission may authorize Development Agencies and Development Entities to carry out special accounting records regarding the application of accounting criteria provided for in Annexes 37 and 38 of these provisions, as applicable, when, in the opinion of the Commission, these are necessary to ensure the stability and proper functioning of Development Agencies or Development Entities during Financial Cleanup or Corporate Restructuring processes, provided that such processes do not result from non-compliance with the regulatory framework applicable to them and that the Development Agency or Development Entity in question is not applying special accounting records on the date of the request.

The request to obtain authorization for the application of special accounting records must be sent to the Commission in a free format, signed by its legal representative, accompanied by documents proving its legal personality, and must contain at least the following:

I.

Detailed description of the requested special accounting records, indicating at least the items of the financial statements that would be affected, amounts, and period for their application.

II.

Detailed explanation of the causes that have generated the need to carry out the Financial Cleanup or Corporate Restructuring process.

III.

The solvency, liquidity, capital indicators, and those related to the application of special accounting records, determined on the date of the request, as well as a detailed description of the effects that these indicators might present in case of not having the requested authorization.

IV.

The actions and remediation measures that constitute the Financial Cleanup or Corporate Restructuring processes required by the Development Agency or Development Entity.

V.

Evidence that the actions and measures indicated in the request have the approval of the Board of Directors of the requesting Development Agency or Development Entity.

For the purposes of this article, the following shall be understood:

a)

Financial Cleanup, as the reorganization process to improve the financial situation of a Development Agency or Development Entity, resulting from an effect on its solvency, stability, or liquidity that puts the continuity of said Development Agency or Development Entity at risk.

b)

Corporate Restructuring, as the set of actions that transform the legal structure of a Development Agency or Development Entity and that result from an effect on its solvency, stability, or liquidity that puts its business continuity at risk and are carried out with the aim of obtaining an economic effect aimed at its recovery, such as mergers, spin-offs, and discontinued operations.

Until the Commission authorizes the application of special accounting records, Development Agencies and Development Entities must continue using the accounting criteria contained in Annexes 37 and 38 of these provisions, as applicable.

Article 293 Bis 1.- Development Agencies and Development Entities that have obtained authorization from the Commission to apply special accounting criteria or special accounting records, under Articles 293 and 293 Bis respectively, must disclose in the explanatory notes to the audited annual and quarterly consolidated basic financial statements corresponding to the periods in which these are applied, and in public financial information communications, the following:

I.

That they have authorization from the Commission to apply special accounting criteria or special accounting records, specifying, if applicable, the period for which authorization is granted for their application.

II.

The description of the authorized special accounting criteria or special accounting records and how they have been applied, as well as the records that should have been made in accordance with the accounting criteria contained in Annex 37 and Annex 38 of these provisions, as applicable.

III.

The amounts that would have been recorded and presented both in the statement of financial position and in the statement of comprehensive income had authorization not been obtained to apply the special accounting criteria or special accounting records.

IV.

The detail of the concepts and amounts for which the accounting effect was made.

V.

The impact that the application of special accounting criteria or special accounting records generates on solvency, liquidity, capital indicators, and those related to the application of these.

VI.

The additional information that the Commission determines in the authorization of the special accounting criteria or special accounting records.

Regarding the annual financial statements referred to in this article, the disclosure must be made through a specific note.

The Commission may revoke the special accounting criteria or special accounting records authorized under Articles 293 and 293 Bis, respectively, when Development Agencies or Development Entities fail to comply with what is provided in fractions I to VI of this article regarding the information to be disclosed, or with the requirements contained in the authorized special accounting criteria or special accounting records, as applicable.

In case it is applicable, Development Agencies or Development Entities to which the Commission has revoked the authorization to apply special accounting criteria shall have the obligation to maintain the agreements they have made with their clients as a consequence of the application of said criteria, prior to the date on which the revocation is determined."

TRANSITIONAL

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

Respectfully

Mexico City, July 15, 2025. - President of the National Banking and Securities Commission, Dr. Jesús de la Fuente Rodríguez.- Signature.

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