Regulatory Alerts2024-04-25 | DOF 5724617Added
Resolution modifying the General Provisions applicable to general warehouse receipts, exchange houses, credit unions and multiple-object financial companies regulated
The National Banking and Securities Commission modifies the General Provisions applicable to credit unions, exchange houses, general warehouses, and multiple-object financial companies to align with International Financial Reporting Standards (IFRS 9). The resolution updates credit portfolio qualification methodologies, introduces new stages for credit risk classification based on days past due, and mandates specific reserve calculation formulas for each stage. It also repeals certain accounting criteria and obsolete reports while adding new definitions, reporting requirements, and valuation models for financial instruments.
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