Regulatory Alerts2022-01-04 | DOF 5640119Added · Updated
Resolution modifying the General Provisions applicable to general warehouse receipts, exchange houses, credit unions, and multiple-object financial societies
The CNBV modifies the General Provisions applicable to credit unions to recognize First Loss Coverage and Pari-Passu Coverage schemes as credit risk mitigants, assigning risk weightings of 0%, 20%, or 100% based on the protection provider's group. The resolution updates definitions for investment grade, risk grades, and protection providers, and establishes specific capital deduction rules and portfolio coverage calculations. It also amends credit portfolio qualification methodologies, setting a 4 million UDI threshold for parametric qualification and detailing procedures for adjusting credit ratings based on collateral and restructurings.