Regulatory Alerts2017-11-10 | DOF 5504273Added
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 amends the General Provisions to establish prudential rules for credit unions, including the credit granting process, file integration, and internal controls. The resolution defines new terms such as commercial credit portfolio and common risk, mandates the appointment of an information security officer, and prohibits the advance collection of interest on loans. It also introduces specific requirements for service companies and real estate societies, updates capitalization and portfolio qualification chapters, and replaces Annex 24 with new information formats for shareholders and creditors.