Resolution modifying the General Provisions applicable to Financial Technology Institutions

DOF: 24/07/2025

RESOLUTION modifying the General Provisions applicable to Financial Technology Institutions

A seal with the National Coat of Arms appears at the margin, which reads: United Mexican States.- Treasury.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on the provisions of Article 48, first paragraph of the Law to Regulate Financial Technology Institutions; Articles 4, fractions III, V, XXXVI and XXXVIII, and 16, fraction I of the Law of the National Banking and Securities Commission; as well as Article 98 Bis of the Credit Institutions Law; 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 credit institutions," published in the Official Gazette of the Federation on July 23, 2021, recognized the methodology for estimating preventive reserves and credit portfolio classification, the lower risk incurred by credit institutions when granting loans to women, adjusting the risk parameters of probability of default and severity of loss taken into account for the classification of credit portfolios and the calculation of preventive reserves for credit risks of non-revolving consumer credit portfolios and housing mortgage portfolios granted to women;

That it is necessary to make adjustments to the regulations applicable to financial technology institutions regarding special accounting criteria and special accounting records, in order to provide legal certainty regarding the natural phenomena that trigger the assumption for their authorization and the requirements that must be met 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 those financial entities are carrying out financial rehabilitation or corporate restructuring processes;

That, in that sense, and to provide better elements to financial technology institutions, 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 at the same time allow 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 FINANCIAL TECHNOLOGY INSTITUTIONS

SINGLE.- Article 15 is REFORMED, and Articles 15 Bis and 15 Bis 1 are ADDED, to the "General Provisions applicable to financial technology institutions," published in the Official Gazette of the Federation on September 10, 2018, and modified through resolutions published in said dissemination medium, to read as follows:

"Article 15.- The Commission may authorize ITFs special accounting criteria on a temporary basis regarding the application of the accounting criteria contained in Annexes 6 and 7 of these provisions, when competent authorities issue declarations of emergency or natural disaster due to the occurrence of disturbing natural phenomena that generate effects on the economy that, in the Commission's judgment, could cause an adverse impact on the solvency or liquidity of two or more ITFs and, if applicable, on the stability of the financial system.

For the purposes of the foregoing, disturbing natural phenomenon shall refer to that referred to in the General Law for Civil Protection or the one that replaces it.

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

I.

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

II.

Detailed narrative of the economic effects that the disturbing natural phenomenon has caused or is estimated to cause.

III.

Estimation of the impact that the economic effects could cause on the solvency, liquidity indicators and those related to the application of the special accounting criteria of the affected ITFs 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 free format, signed by the legal representative of the ITFs, accompanied by documents proving their personality, or if applicable, signed by the legal representative of self-regulatory bodies recognized by the Commission or of a trade representation body.

Until the Commission authorizes the application of special accounting criteria, ITFs must continue to use the accounting criteria contained in Annexes 6 and 7 of these provisions, as applicable.

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

Article 15 Bis.- The Commission may authorize ITFs regarding the application of the accounting criteria provided for in Annexes 6 and 7 of these provisions, to carry out special accounting records, when in the Commission's judgment, these are necessary to ensure the stability and proper functioning of ITFs during Financial Rehabilitation or Corporate Restructuring processes, provided that such processes do not result from non-compliance with the regulatory framework applicable to them and that the ITF in question is not applying special accounting records at the date of the request.

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

I.

Detailed description of the special accounting records requested, 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 Rehabilitation or Corporate Restructuring process.

III.

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

IV.

The remediation actions and measures that constitute the Financial Rehabilitation or Corporate Restructuring processes required by the ITF.

V.

Evidence that the actions and measures indicated in the request have the approval of the Administrative Body of the requesting ITF.

For the purposes of this article, it must be understood by:

a)

Financial Rehabilitation, the reorganization process for the improvement of the financial situation of an ITF, which results from an effect on its solvency, stability or liquidity that puts the continuity of the ITF at risk.

b)

Corporate Restructuring, the set of actions that transform the legal structure of an ITF and which result from an effect on its solvency, stability or liquidity that puts its business continuity at risk and which 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, ITFs must continue to use the accounting criteria contained in Annexes 6 and 7 of these provisions, as applicable.

Article 15 Bis 1.- ITFs that have obtained authorization from the Commission to apply special accounting criteria or special accounting records, in terms of Articles 15 and 15 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 communications of financial information, the following:

I.

That they have authorization from the Commission to apply special accounting criteria or special accounting records, specifying in case, the period for which they have authorization for their application.

II.

The description of the special accounting criteria or special accounting records authorized and how they have been applied, as well as the records that should have been made in accordance with the accounting criteria contained in Annexes 6 and 7 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 if they did not have the authorization to apply 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 the solvency, liquidity, capital indicators and those related to the application of these.

VI.

The additional information that the Commission determines in the authorization of 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 referred to in Articles 15 and 15 Bis, respectively, when ITFs fail to comply with what is provided in fractions I to VI of this article regarding the information to disclose, or with the requirements contained in the authorized special accounting criteria or special accounting records, as applicable.

In case that, if applicable, ITFs to which the Commission has revoked the authorization to apply special accounting criteria, will 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."

TRANSITORY

SINGLE.- This Resolution will 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.- Rubric.

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