Regulatory Alerts2021-12-15 | DOF 5638359Added · Updated
Resolution modifying the General Provisions applicable to Financial Technology Institutions
The resolution amends the accounting criteria for Collective Financing Institutions and Electronic Payment Fund Institutions to require the use of the closing daily exchange rate published by the Bank of Mexico for converting foreign currency balances and cash flows. This change replaces the previous requirement to use the Fixed Exchange Rate (FIX) to align financial reporting with treasury operations. The amendments specifically modify Annex 6 and Annex 7 of the General Provisions, updating paragraphs related to the application of standards and the statement of cash flows. The resolution entered into force on December 15, 2021.
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