Region

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2017-11-10 | DOF 5504273

Added 2026-08-30

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.

Mexico

Secretaria de Hacienda y Credito Publico

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DOF: 10/11/2017

RESOLUTION that modifies the General Provisions applicable to general warehouse receipts, exchange houses, credit unions, and multiple-object financial companies regulated

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, with the agreement of its Board of Directors and based on the provisions of articles 17, fraction VI; 37, fraction I, subsection b); 40, fraction XVIII; 42; 46; 47; 49, fraction I; 50; 51, fifth paragraph and 62, first paragraph of the Credit Unions Law, as well as 4, fractions II, XXXVI and XXXVIII; 16, fraction I and 19 of the National Banking and Securities Commission Law,

AND CONSIDERING

That the Credit Unions Law grants various powers to the National Banking and Securities Commission to establish norms or standards whose determination will contribute to the development and stability of the credit union sector, which refer, among others, to the authorization processes of such financial entities, the credit process and file integration, as well as to the conceptualization of complementary or auxiliary services;

That in this regard, it is essential to establish the information and documentation that, in addition to that established in the Credit Unions Law, must be presented to the National Banking and Securities Commission by those interested in constituting and operating a credit union, which will provide greater legal certainty in the corresponding procedures, and the same reason applies to determine the additional information and documentation that must be presented to the Commission regarding persons who directly or indirectly intend to maintain a participation in the share capital of the merging entity, in the case of credit unions subject to merger processes;

That with respect to the credit activity developed by credit unions, in line with what is required for other financial entities subject to the supervision of the National Banking and Securities Commission that also grant credits, prudential provisions are established whose purpose is to ensure their solvency and stability, therefore the credit process is regulated, as well as the integration of files for the credits they grant, establishing for the first case, as a facility, that credit unions are exempt from constituting additional preventive provisions when it comes to labor credits, and for the second case, credit unions are exempt from updating said files when it comes to credit operations that are in the process of judicial collection;

That on the other hand, the prohibition is established for credit unions to demand the payment of interest on the credits they grant in advance, but that these payments could only be demanded for expired periods, in protection of the interests of the members of the credit unions;

That for the purpose of strengthening the internal control system of credit unions and ensuring the confidentiality, integrity and availability of the information they administer, as well as that of their members, the relevant norms are incorporated that will allow them to support their processes and carry out their operations through the use of computer systems in a secure and efficient manner, while establishing the obligation to have a person specialized in information control and security matters, who will be responsible for maintaining and monitoring compliance with controls, information classification processes and other functions related to information systems;

That in order to provide greater legal certainty, the services or operations that are considered as complementary or auxiliary services of credit unions are determined, as well as the requirements that societies that will provide said services must satisfy, and as a flexibilization of the norm, the circumstances in which these societies and companies will be supervised by the National Banking and Securities Commission are foreseen, and

That in order to facilitate compliance with their obligations, the deadline is specified in which credit unions must present to the National Banking and Securities Commission the agreement in which the approval by the board of directors regarding operations with related parties is recorded, has resolved to issue the following:

RESOLUTION THAT MODIFIES THE GENERAL PROVISIONS APPLICABLE TO GENERAL WAREHOUSE RECEIPTS, EXCHANGE HOUSES, CREDIT UNIONS AND MULTIPLE-OBJECT FINANCIAL COMPANIES REGULATED

SINGLE.- Article 59 Bis 2, fraction IV; of Title Seventh, the denomination of Chapters First, Second, Third and Fourth are REFORMED to remain as Chapters I, II, III and IV, the latter to remain as "Of the authorizations to constitute and operate as a credit union, to carry out merger processes and to participate in the share capital of credit unions"; the denomination of Section Sixth of the now Chapter III to remain as "Of the General Management"; the denomination of Section First of the now Chapter IV to remain as "Of the authorizations to constitute and operate as a credit union and to carry out merger processes"; articles 95, fraction IV, first paragraph and subsection e) of said fraction; 97, fraction IV, first paragraph and subsection e) of said fraction; 102, second paragraph;

108, fraction III; 117, second paragraph and fractions I and II of said paragraph; 118, fractions III and IV; 119, fractions IV and VII; 120; 122, fraction VII; 123, second paragraph; 124, fraction IV; 125, first and third paragraphs, fraction V, subsections a) to h); 128; 131, first paragraph; 134, first paragraph and 134 Bis; article 87, fractions III and VI are ABROGATED; to article 1, the now fractions I, II, V, XVI, XVIII, XIX, XX, XXI, XXIII, XXIV, XXV, XXVII, XXIX, XXX, XXXVI, XLV, XLVIII and LI are ADDED, reordering all other fractions as appropriate; to Title Seventh, a Chapter I Bis to be called "Credit process and file integration", which comprises a First Section to be called "Granting of credits and additional preventive provisions", which comprises a Section A to be called "Of credit operations", which includes articles 86 Bis to 86 Bis 3; a Section B to be called "Of the foundations of the exercise of credit", which comprises Sub Section A to be called "Of the objectives, guidelines and policies", which includes articles 86 Bis 4 to 86 Bis 6, and Sub Section B to be called "Of the support infrastructure", which comprises articles 86 Bis 7 to 86 Bis 9; a Section C to be called "Of the functions of the credit exercise", which includes Sub Section A to be called "Of the origin of credit", which comprises articles 86 Bis 10 to 86 Bis 18, Sub Section B to be called "Of credit administration", which comprises articles 86 Bis 19 to 86 Bis 29, Sub Section C to be called "General provisions", which includes articles 86 Bis 30 to 86 Bis 33 and Sub Section D to be called "Precautionary measures", which comprises article 86 Bis 34; a Section D to be called "Additional preventive provisions", which includes articles 86 Bis 35 to 86 Bis 39, and a Second Section to be called "Integration of credit files", which comprises articles 86 Bis 40 to 86 Bis 48;

articles 125, second paragraph, fraction V, subsections i) to o) of said fraction; 127, first paragraph, fraction VI and a last paragraph, and a Chapter V to be called "Of Service Companies and Real Estate Societies", which comprises a First Section to be called "Of the organization and functioning and of the services they provide", which includes articles 138 Bis and 138 Bis 1; a Second Section to be called "Of the authorization to invest in Service Companies and Real Estate Societies", which comprises articles 138 Bis 2 and 138 Bis 3; a Third Section to be called "Of inspection and surveillance", which includes articles 138 Bis 4 to 138 Bis 6, and a Fourth Section to be called "Of the revocation of the authorization", which comprises article 138 Bis 7, as well as Annexes 28; 29; 30; 31; 32; 33 and 34, and Annex 24 of the "General Provisions applicable to general warehouse receipts, exchange houses, credit unions and multiple-object financial companies regulated", published in the Official Journal of the Federation on January 19, 2009, and modified through Resolutions published in the said Official Journal on July 1 and 30, 2009; February 18, 2010; February 4, April 11 and December 22, 2011; February 3 and June 27, 2012; January 31, 2013; December 3, 2014; January 8 and 12, May 19, October 19 and 28, 2015; January 22, May 13, September 28 and December 27, 2016; February 28, April 4, July 24, August 25 and October 6, 2017, to remain as follows:

TITLES FIRST to SIXTH

TITLE SEVENTH

Chapter I

Of capitalization requirements

Chapter I Bis

Credit process and file integration

First Section

Granting of credits and additional preventive provisions

Section A

Of credit operations

Section B

Of the foundations of the exercise of credit

Sub Section A

Of the objectives, guidelines and policies

Sub Section B

Of the support infrastructure

Section C

Of the functions of the credit exercise

Sub Section A

Of the origin of credit

Sub Section B

Of credit administration

Sub Section C

General provisions

Sub Section D

Precautionary measures

Section D

Additional preventive provisions

Second Section

Integration of credit files

Chapter II

Of portfolio qualification

First to Third Sections . . .

Chapter III

Internal controls

First to Fifth Sections . . .

Sixth Section

Of the General Management

Seventh and Eighth Sections . . .

Chapter IV

Of the authorizations to constitute and operate as a credit union, to carry out merger processes and to participate in the share capital of credit unions

First Section

Of the authorizations to constitute and operate as a credit union and to carry out merger processes

Second Section . . .

Chapter V

Of Service Companies and Real Estate Societies

First Section

Of the organization and functioning and of the services they provide

Second Section

Of the authorization to invest in Service Companies and Real Estate Societies

Third Section

Of inspection and surveillance

Fourth Section

Of the revocation of the authorization

TITLE EIGHTH

Of additional regulation

Annexes 1 to 23

Annex 24

Information format for persons who intend to maintain a participation in the share capital of a credit union and persons who intend to constitute themselves as creditors with guarantee with respect to the paid share capital of a credit union.

Annexes 25 to 27

Annex 28

Curriculum information format for persons proposed to occupy the positions of councilor, general director or executives with the hierarchy immediately below that of the general director and commissioner of credit unions.

Annex 29

Protest letter formats for persons proposed to occupy the positions of councilor, general director or executives with the hierarchy immediately below that of the general director and commissioner of credit unions.

Annex 30

Documentation and information that credit unions must integrate into the files of credits whose balance at the time of granting is less than an amount equivalent in national currency to four million UDIs.

Annex 31

Documentation and information that credit unions must integrate into the files of credits whose balance at the time of granting is equal to or greater than an amount equivalent in national currency to four million UDIs.

Annex 32

Documentation and information that must be integrated into the files of credit operations in which the debtor, borrower or counterparty of the credit unions are other financial entities, when the transactions are celebrated under framework contracts, such as repos, loans, financial derivatives or currencies.

Annex 33

Minimum operational and security guidelines for the contracting of technological support services provided by Service Companies to credit unions.

Annex 34

Mapping of qualifications and degree of risk.

" Article 1.- For the purposes of these provisions, the following shall be understood, in singular or plural, by:

Credit Activity: to the placement of resources of the credit union among its members through Discount, credit, loan, guarantee or any other operation that facilitates access to credit for these, and which generate or may generate a credit right in favor of the credit union, with respect to which there is a risk of default.

II.

Integrated Risk Management: to the process applied systematically by credit unions to identify, analyze, measure, monitor, limit, control, reveal and treat the different risks to which they are exposed.

III. and IV.

Commercial Credit Portfolio or Commercial Credit Portfolio: to direct or contingent loans or credits, including bridge credits denominated in national, foreign currency or in UDIs as well as the interest they generate, granted to the members of the credit unions and other persons permitted by the LUC, destined for their commercial or financial activity; to factoring operations; Discount; Credit Rights Cession Operations and financial or capitalizable leasing operations, celebrated with said persons.

VI. to XV.

XVI.

Discount: to the operation by virtue of which the discounting credit union obliges itself to anticipate to the discounter the amount of a monetary credit, against a third party and with future maturity, in exchange for the alienation in favor of the discounting credit union of said credit and the deduction of an interest.

XVII.

XVIII.

General Management: to the general director of the credit unions, as well as to the administrative units that assist him in the performance of his functions, each one according to their attributions.

XIX.

Service Companies: to Exclusive Service Companies or Generic Service Companies.

XX.

Exclusive Service Companies: to those legal entities in whose capital a credit union participates and exercises control and whose object is to exclusively provide said union with Complementary or Auxiliary Services.

XXI.

Generic Service Companies: to those legal entities in whose capital one or more credit unions participate and, if applicable, other persons, whose object is to provide credit unions with Complementary or Auxiliary Services, without prejudice to the fact that they may provide services to other persons, provided that at least five percent of their gross income during the calendar year in question comes from the provision of said services to the credit unions.

XXII.

XXIII.

First Loss Coverage Scheme: to the contractual scheme, under the figure of guarantee or insurance, through which the beneficiary or borrower mitigates the loss derived from the default due to non-payment of his borrower by receiving from the coverage provider a percentage of the balance of the credit in question, in order to cover with a limited amount the first losses derived from the credit, once the terms and conditions agreed for the claim of the guarantee or insurance are met.

XXIV.

Counter-Guarantee Trust: to the trusts constituted by development banking institutions, whose activities are limited to guaranteeing, totally or partially through the First Loss Coverage Scheme, the guarantees granted by said institutions or their trusts to credit unions or financial entities and that meet the following conditions:

The development banking institution that constitutes it must act as trustee and as one of the settlors, or as the sole settlor.

The development banking institution must have an express guarantee from the Federal Government.

The trust must be registered with the Budgetary Policy Unit of the Ministry of Finance and Public Credit.

The trust's equity must be constituted with cash.

The liquid funds of the trust are invested in guaranteed or backed debt instruments by the Federal Government or by credit institutions, or in repos of government or bank paper; in the case of direct investments or bank paper repos, the counterparties must have a credit rating issued by a securities rating institution regulated under the Securities Market Law, equal to or better than risk degree 3 of Annex 34 of these provisions.

The amount effectively guaranteed by the trust must be less than its equity.

XXV.

Financing: to any act or contract that implies the realization of an active operation, direct or contingent, through the granting, restructuring, renewal or modification of loans or credits, also including investments in shares or securities, which should not be subtracted from the net capital of the credit union in question.

XXVI.

XXVII.

Independence: to the condition presented by a person, entity, administrative body or collegiate body of the Financial Entities with respect to another in terms of not having any conflict of interest that affects the adequate performance of their functions.

XXVIII.

XXIX.

Sensitive Information: to personal information containing names, addresses, telephone numbers or email addresses, together with bank card numbers, account numbers, credit limits or balances.

XXX.

Technological Infrastructure: to the computing infrastructure, communication networks, operating systems, databases and applications that credit unions use to support their operation.

XXXI. to XXXV .

XXXVI.

Credit Rights Cession Operation: to those financing operations by virtue of which the ownership of credit rights is transmitted to any credit union. Credit portfolio acquisitions will not be considered Credit Rights Cession Operations.

XXXVII. to XLIV.

XLV.

Common Risk: that represented by the debtor of the credit union in question together with the following persons:

When the debtor is a natural person with business activity, the legal entities that are controlled, directly or indirectly, by the debtor himself, regardless of whether they belong or not to the same Business Group or Consortium.

Business Group and Consortium shall be understood as provided in article 1 of these Provisions.

When the debtor is a legal entity:

The person or group of natural and legal persons who act in concert and exercise, directly or indirectly, the administration on behalf of the owner, or the control of the accredited legal entity.

The legal entities that are controlled, directly or indirectly, by the debtor himself, regardless of whether he belongs or not to the same Business Group and, if applicable, Consortium.

The legal entities that belong to the same Business Group or, if applicable, Consortium.

When the debtor is a trust, the settlor, provided that said settlor is, in turn, one of the persons indicated in subsections a) and b) of this fraction and said persons maintain a majority participation in the debtor trust.

Notwithstanding the foregoing, when the settlor does not maintain a majority participation in the debtor trust, only the aliquot or proportional part of the percentage of Financing granted to the trust, as well as the Financings granted directly to each person who has the character of settlor, shall be considered as the same Common Risk.

For the purposes of what is established in this fraction, in factoring, Discount and Credit Rights Cession Operations, the factor, discounter or assignor of the credit rights may also be considered as the debtor, only when there is joint and several obligation of the latter; otherwise, the passive subject of the acquired credits will continue to be considered as the debtor.

XLVI. and XLVII.

XLVIII.

Complementary or Auxiliary Services: to those provided by Service Companies to one or more credit unions, as the case may be, related to support or assistance in their administration or in the performance of the operations provided for in article 40 of the LUC.

XLIX. and L.

LI.

Real Estate Societies: to those legal entities in whose capital one or more credit unions participate and exercise control, either jointly or separately, and that are owners or administer the real estate in which the offices of these are located.

LII. to LVII. . . . "

" Article 59 Bis 2.-

I. to III.

IV.

The Independence of the personnel or administrative unit responsible for the validation and monitoring of the Registry of certificates and pledge bonds or, if applicable, of the registrations and annotations in the RUCAM, with respect to the responsible or responsible for the registration of the information.

" TITLE SEVENTH

OF CREDIT UNIONS

Chapter I

Of capitalization requirements

Chapter I Bis

Credit process and file integration

First Section

Granting of credits and additional preventive provisions

Section A

Of credit operations

Article 86 Bis.- The provisions of this Section have the purpose of establishing minimum guidelines that credit unions must observe in the development of Credit Activity, to delimit the different functions and responsibilities of the social bodies, areas, officials and personnel involved in said operations, to promote the creation of control mechanisms in the realization of the mentioned credit operations, as well as to foster the prevailing commercial usages among the unions and avoid conflicts of interest.

Article 86 Bis 1.- Credit unions must consider as part of the Credit Activity, at least, the following concepts:

Fundamentals of credit exercise, which include:

Objectives, guidelines, and policies.

Support infrastructure.

II.

Functions of credit exercise, which include:

Credit origination.

Credit administration.

In the development of the aforementioned fundamentals and functions, the participation of the various governing bodies and areas of the credit union must be specified, always seeking independence in the performance of their respective activities to avoid conflicts of interest.

Article 86 Bis 2.- With regard to the functions of credit exercise, credit unions must contemplate, at a minimum, the following stages:

Credit origination.

Promotion.

Evaluation.

Approval.

Instrumentation.

II.

Credit administration.

Monitoring.

Control.

Administrative recovery.

Judicial recovery of problematic credits.

Article 86 Bis 3.- The General Manager shall be responsible, as part of the credit union's strategy, for ensuring consistency between the objectives, guidelines, and policies, the support infrastructure, and the functions of credit origination and administration within the union. To this end, they must report, at least once a year, to the Board of Directors on the issues causing deviations in the credit strategy and the actions aimed at resolving them, as well as regarding the human, material, and economic resources allocated to guarantee adequate administration of the credit portfolio.

Section B

Of the fundamentals of credit exercise

Subsection A

Of the objectives, guidelines, and policies

Article 86 Bis 4.- The Board of Directors shall be responsible for approving the objectives, guidelines, and policies regarding credit origination and administration, which must be consistent, compatible, and complementary to those established for Comprehensive Risk Management.

The Board of Directors must designate the committees and, where applicable, the officials of the credit union responsible for drafting the aforementioned objectives, guidelines, and policies, as well as for formulating changes deemed appropriate at the appropriate time; but in all cases, both committees and officials must be approved by the Board itself.

The Board of Directors of each credit union shall review the aforementioned objectives, guidelines, and policies regarding credit at least once a year.

The General Manager of the credit union, for their part, must ensure compliance with the objectives, guidelines, and policies for credit origination and administration.

Article 86 Bis 5.- The objectives, guidelines, and policies regarding credit must contemplate, at a minimum, the following aspects:

The functions and responsibilities of the various governing bodies, areas, and personnel involved in credit origination and administration, always seeking to avoid conflicts of interest.

II.

The powers of the governing bodies or authorized officials for the origination of different types of credit, establishing authorization or granting levels both by amount and by type.

III.

The origination strategies and policies for Credit Activity, which, in addition to being consistent with the characteristics and capabilities of the credit union, must consider the following elements:

Segments or sectors to which the credit union will focus.

Types of credit that the credit union will grant.

Maximum granting levels by type of credit and sector.

Operations permitted by type of credit, such as renewals, restructurings, and modifications to credit lines.

IV.

The administration strategies and policies for Credit Activity, which will be oriented toward the certain recovery of granted credits, including cases where problems exist that put the aforementioned recovery at risk, and which must always consider the general policies regarding:

The monitoring and control of different types of credit.

The restructurings and renewals of different types of credit.

Write-offs, charges, losses, or bonuses.

The administrative and judicial recovery of different types of credit.

Article 86 Bis 6.- Credit unions must have a credit manual containing the processes, methodologies, procedures, and other necessary information for the origination and administration of credits. This manual must be consistent, compatible, and complementary with Comprehensive Risk Management.

The Audit Committee shall be responsible for reviewing that the credit manual is in accordance with the objectives, guidelines, and policies regarding credit origination and administration approved by the Board of Directors.

The General Manager of the credit union shall be responsible for the preparation, implementation, and proper application of the credit manual.

Subsection B

Of the support infrastructure

Article 86 Bis 7.- In the development of Credit Activity, credit unions must have, for each of the stages, processes, adequate personnel, and computing systems that allow the achievement of their objectives in credit matters, adhering to these provisions, as well as to the methodologies, models, policies, and procedures established in their credit manual.

The General Manager must ensure that the support infrastructure available for the credit exercise granted by the credit union does not in any way contravene the objectives, guidelines, and policies approved by the Board of Directors.

Article 86 Bis 8.- Credit unions must have credit information systems for the management of credits in the different stages of the credit process, which must at minimum:

Allow proper interrelation and interfaces between the different areas participating in the credit process.

II.

Generate reliable reports, avoid multiple entries and data manipulation, and allow automatic, timely, and transparent reconciliation of accounting.

III.

Maintain adequate controls that guarantee the confidentiality of information, ensure its security, both physical and logical, as well as measures for information recovery in contingency cases.

IV.

Provide the necessary information for decision-making in credit matters by the Board of Directors, the General Management, and the business areas responsible for credit operations.

Article 86 Bis 9.- Credit unions, with respect to personnel performing functions related to the origination or administration of Credit Activity, must contemplate at minimum mechanisms that:

Accredit the moral solvency and ethical performance of the involved personnel and develop permanent communication programs that define the credit union's standards on this topic.

II.

Evaluate the technical capacity of the involved personnel and develop permanent training programs that allow maintaining the standards defined by the credit union.

III.

Guarantee the confidentiality of the information used by the involved personnel.

Section C

Of the functions of credit exercise

Subsection A

Of credit origination

Article 86 Bis 10.- Persons who participate in credit promotion within the credit union, such as account executives and promoters of credit business areas, are prohibited from participating in the approval of credits for which they are responsible for origination or negotiation.

Regarding commercial credits with amounts less than the equivalent in national currency to four hundred thousand UDIs, persons who participate in credit promotion within the credit union may participate in the approval of credits for which they are also responsible for origination or negotiation.

Credit unions, when entering into operations on financial instruments, including derivatives, where there is counterparty risk, must open a credit line with their counterparties. Likewise, for the aforementioned credit line, the determination of maximum payment capacity through the corresponding credit study must be considered.

Article 86 Bis 11.- Credit unions must establish different evaluation methods to approve and grant different types of credit, observing, in all cases, the following:

No credit may proceed to the approval stage if the evaluation has not included the minimum information and documentation established in the credit manual and applicable provisions.

II.

Regarding commercial credits with amounts less than the equivalent in national currency to four hundred thousand UDIs, credit unions may use parametric methods for their approval, understood as those that allow evaluating the borrower qualitatively and quantitatively, based on standardized data and information, whose weighting to yield a favorable result has been previously defined by the credit union, in order to expedite and, where applicable, automate the analysis process of the borrower.

Credit unions that opt for the methods described in the preceding paragraph, in order to grant the corresponding credits, must comply, at minimum, with the following:

Have documentation of the parametric methodology used, including the established approval parameters and the description of the applied quantitative and qualitative analysis.

Maintain consistency in the parameters to be used for credit evaluation, according to their type and the results generated by the models.

Consider in the quantitative and qualitative evaluation, at minimum:

The solvency of the credit applicant.

The borrower's payment experience, reviewing for this purpose a Credit Information Report whose age is not greater than three months.

Regarding factoring operations, Discount, and Credit Rights Cession Operations, credit unions must determine if the credit risk falls on the factor, discounter, or ceder, or on the debtor of the transmitted credit rights. In all cases, credit unions must review the Credit Information Report of the person in whom they identify that the credit risk falls. This requirement shall not be applicable when dealing with the following entities:

Public trusts that have the status of parastatal entities.

ii.

Counter-guarantee trusts.

iii.

The National Financial Development Bank for Agriculture, Rural, Forestry, and Fisheries.

iv.

The National Infrastructure Fund.

The National Guarantee Fund for the Agricultural, Forestry, Fisheries, and Rural sectors.

vi.

Trusts celebrated specifically for the purpose of sharing credit risk with credit unions, in which institutions of development banking act as settlors and trustees that have the express guarantee of the Federal Government.

vii.

Any entity with express guarantee of the Federal Government.

In the event that the risk falls on the debtor of the transmitted credit rights and operational difficulties arise that prevent obtaining their express authorization to consult their Credit Information Report, credit unions, in order to be able to comply with what this section states, may consult the Credit Information Report of the factor, discounter, or ceder, provided that this party has become jointly and severally liable with respect to the commitments of the debtor of the credit rights.

Payment capacity through the estimated income of the probable borrower, the relationship between the possible debtor's income and the payment of the obligation, and the relationship between the credit term and the capacity to generate resources; as well as the analysis of all other credits and other liabilities that the possible debtor has with the credit union and other financial entities.

Where applicable, the information and documentation of patrimonial assets presented by the possible borrower.

The minimum personal references required in the credit manual to prove the moral quality of the borrower.

Evaluate, in the case of commercial credits with amounts less than the equivalent in national currency to four hundred thousand UDIs, in addition to what is provided in the preceding letter c), the following:

The primary source of credit recovery.

Financial statement information, in the case that the borrower has them or the necessary information to estimate the income of the possible borrower.

Regarding commercial credits with amounts equal to or less than the equivalent in national currency to two thousand UDIs, once the parametric evaluation referred to in this section has been carried out, credit unions may conduct the borrower's study using this evaluation for the granting of subsequent credits, provided that it is not older than one year and the total amount of the credits does not exceed in its entirety an amount equivalent in national currency to twenty-five thousand UDIs.

III.

Regarding commercial credits, whose amount is equal to or greater than the equivalent in national currency to four hundred thousand UDIs, credit unions when establishing evaluation methods must comply, as appropriate, with the following:

In the quantitative and qualitative evaluation consider, at minimum:

The financial statements and, where applicable, their audits, the list of patrimonial assets, and in general, the information and documentation presented by the possible borrower.

Credit unions shall only consider external audit reports on financial statements when dealing with persons obliged to audit their financial statements for tax purposes, in accordance with article 52 of the Federal Tax Code in accordance with what is provided by article 32-A of the same Code.

The primary source of credit recovery.

Exposure to risk for all credit operations under the possible debtor, as well as their payment experience, reviewing for this purpose a Credit Information Report whose age is not greater than three months.

Additionally, to evaluate the credit risk exposure of derivative financial instruments, the volatility implicit in the value of the derivative instruments must be considered, this for the purpose of determining up to what level of maximum possible loss the counterparty can assume, and relating this contingency to the total amount of the credit line.

The solvency of the credit applicant.

The relationship between the possible debtor's income and the payment of the obligation, and the relationship between said payment and the amount of the credit.

The possible existence of common risks.

Where applicable, for credits with own payment source, the term must be established in relation to the maturity of the respective project. Additionally, the estimation of the borrower's future cash flows must be considered.

In operations where part of the resources to finance the asset or project in question corresponds to sources other than those financed by the credit union, it must be identified if such part comes from the possible debtor's own resources, or if they are obtained from another credit.

In the case of credits with real guarantees, the physical condition, legal situation, and insurance of the asset in question will be reviewed, as well as market circumstances, additionally considering an updated appraisal performed by an external appraiser, in accordance with the particular policies of each of the credit unions. Likewise, regarding personal guarantees, the guarantor will be evaluated as any other borrower.

The contracts and other legal instruments through which the operations are formalized must be approved by the legal area, prior to the celebration of these. For the credits referred to in the preceding letter c), such approval must be expressed in each case, by signature on the respective documents.

Any change to the terms and conditions that have been agreed upon in a credit, derived from restructurings, defaults, or lack of payment capacity, will be subject to a new evaluation and approval, and the procedures contained in the credit manual for this type of cases must be followed.

IV.

Regarding factoring operations, Discount, and Credit Rights Cession Operations, as appropriate, in the evaluation stage referred to in the preceding sections II and III, in addition, credit unions must:

Ensure, where applicable, the existence of the contract formalizing the operations between the provider of the goods or services and the debtor of the transmitted credit rights and that in said contract or in the document with which the credit right is accredited, clauses or legends that oppose the cession of the credit rights are not included.

Identify, in the case of Credit Rights Cession Operations, that the payment scheme allows the total recovery of the amount paid to the ceder of the rights.

Establish maximum terms for the factor, discounter, or ceder of the credit rights to deliver the resources to the credit union, when it has been agreed that the administration and collection of the credit rights will be carried out by the factor, discounter, or ceder of the credit rights.

Verify that the person who presents the assigned document in favor of the credit union is legally authorized for this purpose.

Ensure, where applicable, that the document assigned to their favor has not been presented to back another obligation by the factor, discounter, or ceder of the credit rights, at least with the information available in the credit unions and from the consultation they carry out with any public registry.

Identify the operational risks that could arise in this type of operations, as well as potential agreements between the factor, discounter, or ceder and the debtor of the transmitted credit rights to the detriment of the credit union, and carry out the administration of these risks in accordance with the Comprehensive Risk Management that the credit union has determined. These risks must be reported to the corresponding risk areas, as well as to internal audit and control areas so that they are followed up during the administration stage of these operations.

In the case of Credit Rights Cession Operations, where the collection of the resources granted to the ceder intends to be carried out through an administration trust and payment source, credit unions must ensure that:

There is independence between the administrator of said trust and the person in whom the credit risk falls.

The trust can immediately reconcile the cash flows it receives with the invoices or credit rights that gave rise to them.

Credit unions must have documentary evidence of what is stated in the preceding letters, which must be available at all times to the Commission, unless they use the automated platform referred to in article 86 Bis 12 of these provisions, in which case electronic evidence of compliance with the content of said article will suffice.

Article 86 Bis 12.- Credit unions may use an automated platform for the purpose of executing the validation process of the documents related to factoring, Discount, or Credit Rights Cession Operations they enter into, in which the debtors of the transmitted credit rights register the invoices or documents in which it is stated that there is a pending payment obligation on their part, provided that the use of said platform is possible:

Allow debtors of credit rights to register the numbers, keys, or electronic references, as well as due dates and suppliers that identify the invoices or documents they have pending payment.

II.

Allow credit unions:

To consult exclusively the register with the numbers, keys, or electronic references that identify the invoices or documents assigned to their favor; as well as to the factors, discounters, or ceder of the rights to which they will grant resources, without showing the information of other credit unions, in the latter case, if the platform contained data from the latter.

To have relevant information that allows them to comply with these provisions regarding the administration and control of the respective operations.

III.

To automatically notify the debtor of the credit rights that their obligation has been transmitted in favor of the credit union.

IV.

To identify those documents that have already been assigned in other operations with the information stored in the platform itself.

To maintain the confidentiality, integrity, and availability of information observing, in the case of systems administered by credit unions, the controls indicated in article 125 of these provisions, regarding:

Access to information, authenticating users and granting permissions according to their profile.

Operational continuity schemes.

Protection of processed, transmitted, and stored information in computer systems

considering, in the case of remote access, mechanisms for encrypting information.

Record of accesses and user activity in audit logs, as well as

mechanisms for their periodic review.

Version control schemes for applications, ensuring that unauthorized functionalities are not present in the

computer systems.

For the purposes of this article, credit unions may contract with third parties,

including other credit unions, for the provision of services related to automated control

systems, in accordance with the provisions of Article 94 of the LUC.

Upon accessing the aforementioned platform, a warning must be displayed stating that information

properly obtained and authorized by the platform administrator will have probative value in court;

while the obtaining of information stored in the platform's databases and files without

corresponding authorization, or the improper use of such information, will be sanctioned

in accordance with the provisions of the LUC, even in the case of third parties contracted under the provisions

of Article 94 of said legal framework.

Article 86 Bis 13.- The approval of credits shall be the responsibility of the Board of Directors, which may delegate

this function to committees and, where applicable, to credit union officials as determined for this purpose.

The credit manual must contain the powers granted to said committees and

officials regarding credit approval, as well as, where applicable, the structure and operation of the

committees.

Article 86 Bis 14.- In the event that credit approval is carried out through committees, at least

the members of the business and risk evaluation and monitoring areas, all with credit-related functions,

must participate in their sessions.

In the case where credit approval is carried out by authorized officials, these

officials must have extensive experience in the origination or administration of credits. Furthermore, such

officials must avoid at all times performing other types of operations within the credit

origination process that imply or could imply conflicts of interest.

Regarding the credits referred to in Article 86 Bis 11, fraction III, subsection c) of these provisions,

they must be approved by credit union officials who are at least at the second

hierarchical level of the areas involved in their approval.

Article 86 Bis 15.- All resolutions taken within the credit approval process

must be duly documented in minutes or records, indicating the persons responsible for the decisions

taken.

In the case of credit committee resolutions, these must be recorded in the minutes or record of the

corresponding session, which must be jointly signed by the attending members of the respective

committee session, who have the authority to grant credits in accordance with

the credit manual.

In the case of resolutions by credit union officials authorized to approve credits,

these must be recorded in the documents specified by the credit manual for this purpose, which must be

signed by the official who issued the corresponding resolution.

The credit manual must designate the area responsible for the custody and safekeeping of the minutes or records and

documents referred to in the preceding paragraph, which must be available to those responsible for

internal oversight, internal audit, and external audit functions. This is without prejudice to the fact that,

in accordance with the credit manual, copies of such minutes and

documents must be provided to other areas of the credit union. Competent authorities may, at any time, request the credit unions to provide

the documents indicated in this paragraph.

Article 86 Bis 16.- Employees, officials, and board members are prohibited from participating in the

approval of credits in which they have or may have conflicts of interest.

Article 86 Bis 17.- Credit unions, as part of the formalization of credit origination,

must perform a credit activity control function in an area Independent of the promotion areas, which will be responsible for the various controls that guarantee an adequate credit origination process.

Article 86 Bis 18.- The area performing the control function described in Article 86 Bis 17 of these

provisions will have, among other responsibilities, the following:

Verify compliance with each and every requirement established in the credit manual for the

conclusion of credit operations.

II.

Verify that the credits to be granted are documented in the terms and conditions approved by

the committees or officials of the credit union authorized for this purpose.

III.

Maintain a log recording the events referred to in the preceding subsections I and II,

noting the operations performed and the relevant data for an adequate review

of the control function.

IV.

Corroborate that the corresponding areas provide individual and permanent follow-up to each of

the credit union's credits and, where applicable, that the different stages established by the credit manual are fulfilled during their validity.

No credit, credit line, or partial drawdown thereof may be exercised without the prior approval of

an official responsible for the control area referred to in this article, except for commercial credits

with amounts less than the equivalent in national currency to two thousand UDIs.

The General Manager of the credit union shall report, at least quarterly, to the Board of Directors and the Audit Committee, regarding any deviations detected with respect to objectives, guidelines, policies, procedures, strategies, and current regulations in the matter of credit. Such reports must be available to the internal and external auditors, and the Commission may request them from the credit union at any time.

Credit unions must follow up on the credit samples referred to in the third paragraph of this article with the aim of, where applicable, adjusting statistical sampling techniques and implementing necessary corrective actions in the credit origination process.

Subsection B

Of credit administration

Article 86 Bis 19.- Credit unions must provide permanent follow-up to each of the

credits in their portfolio, obtaining all relevant information indicating the status of the

credits in question, the guarantees, where applicable, ensuring they maintain the minimum proportion established, and the guarantors, as if they were any other borrower. The credit manual will define the area that must perform this function.

Without prejudice to the foregoing, credit unions must establish stricter evaluation and

follow-up procedures for those credits that, whether or not in delinquent portfolio, show some deterioration, or with respect to which the agreed terms and conditions have not been fully met.

Regarding factoring, Discount, and Credit Rights Cession operations, credit unions must obtain the debtor's acknowledgment of the debt for the credit rights transferred. The debtor's acknowledgment must be in writing, by electronic means, or any other method suitable for proving it, provided it allows generating evidence for subsequent verification.

The provision in the preceding paragraph shall be deemed fulfilled if no response is obtained from the debtors, when credit unions have exhausted the internal procedures established for this purpose, aimed at obtaining acknowledgment by the debtor.

Additionally, regarding factoring, Discount, and Credit Rights Cession operations, credit unions must ensure that the document assigned to their favor has not been presented to back another obligation by the factor, discounter, or assignor of the credit rights, at least with the information available in the credit unions and from the consultation they make to any public registry, unless previously done in the evaluation stage.

Article 86 Bis 20.- Credit unions must exercise effective control over the credits

granted based on the information collected in the follow-up, including in their credit manual a credit classification system that indicates the general actions that will result from previously defined situations.

This classification system will indicate the treatment to be given to the credits, the areas or officials

responsible for such actions, as well as the time and result objectives that result in a change in

the classification.

Credits that, as a result of permanent follow-up or having fallen into delinquent portfolio, are likely to have recovery problems, must be subject to a detailed evaluation, in order to determine in a timely manner the possibility of establishing new terms and conditions that increase their probability of recovery.

Article 86 Bis 21.- Any credit restructuring or renewal must be carried out by mutual agreement

with the respective borrower, and must go through the different stages of the credit process from

origination.

Article 86 Bis 22.- Credit unions must carry out credit risk administration, adhering to the Comprehensive Risk Management they define.

Article 86 Bis 23.- The area responsible for performing credit risk administration must:

Follow up on the quality and main risk and profitability trends of the portfolio. This

follow-up must allow credit unions to automatically detect significant increases in their risk exposures.

In the case of factoring, Discount, and Credit Rights Cession operations, credit unions

must follow up on concentration exposures with whom they have determined that

credit risk rests, in accordance with the provisions of subsections II, subsection c), numeral 2 and III,

subsection a), numeral 3 of Article 86 Bis 11 of these provisions. When a significant increase is detected in these exposures, the area responsible for performing credit risk administration will request evidence of the reasonableness of such increase from the business units.

II.

Establish guidelines and criteria for applying the portfolio rating methodology in compliance with applicable regulations, as well as verify that such rating is carried out with the frequency marked by applicable regulation.

III.

Verify that the interest rate assignment criteria applicable to credit operations, according to their inherent risk, are in line with what is provided in the credit manual.

IV.

Establish guidelines to determine, in the evaluation stage, the degree of risk of each credit.

The measurements and analyses referred to in this article must cover all operations that imply credit risk.

The area responsible for credit risk administration must report, at least monthly, to the General Management the results of its analyses and projections, as well as the amount of preventive reserves that should be established.

Article 86 Bis 24.- Credit unions will perform administrative recovery functions, which must be managed by an Independent area of the business areas or, where applicable, by external service providers, who will carry out the administrative collection procedures required in the credit union's credit manual.

Regarding commercial credits with amounts less than the equivalent in national currency to four hundred thousand UDIs, administrative recovery functions may be managed by the business areas.

Article 86 Bis 25.- Credit unions will perform judicial recovery functions for credit portfolio in cases of distressed credits, assigning them to an independent area of the business areas or, where applicable, to external service providers, who will carry out the judicial collection procedures required in the credit union's credit manual.

Regarding commercial credits with amounts less than the equivalent in national currency to four hundred thousand UDIs, judicial recovery functions for credit portfolio may be managed by the business areas.

Article 86 Bis 26.- The credit manual must establish judicial recovery strategies and procedures, covering the different events that will occur internally from the first payment delay, up to the adjudication of assets or loss.

For each event, all and every step to be followed, deadlines provided for their execution, as well as the responsibility of each area, official, or employee must be foreseen. Credit unions, when delegating collection to external service providers, must evaluate their efficiency and moral solvency.

Article 86 Bis 27.- Credit unions will carry out an internal audit in the matter of credit, which allows establishing and following up on procedures and controls relative to operations that imply some risk and to the observance of exposure limits to risk that the credit unions define in their Comprehensive Risk Management. The area in charge of performing the functions referred to in this article will be the same as that referred to in Article 121 of these provisions.

Article 86 Bis 28.- The area responsible for the internal audit function in the matter of credit, at a minimum, must:

Implement a classification scheme that defines the priorities to be reviewed and, consequently, the frequency with which the different areas, officials, and functions of Credit Activity will be audited to maintain adequate control over it.

II.

Verify that Credit Activity is developing, in general, in accordance with the methodologies, models, and procedures established in the credit manual and applicable regulations, as well as that the officials and employees of the credit union in question, in particular, are fulfilling the responsibilities entrusted to them, without exceeding the powers delegated to them, including the functions performed by the legal area regarding its participation in Credit Activity.

III.

Ensure through representative statistical sampling applied to the totality of the credits, that the corresponding areas follow up on the credit union's credits and, where applicable, that the different stages established by the credit manual are fulfilled during their validity.

IV.

Review that the rating of the credit portfolio is carried out in accordance with current regulations, the credit union's credit manual, as well as the methodology and procedures determined by the credit risk evaluation area.

Review credit information systems, particularly regarding:

Compliance with modifications, updates, improvements, and innovations proposed by the areas.

The quality and truthfulness of the information issued, verifying the results with the areas involved in the credit process.

The timeliness and frequency of reporting such information.

VI.

Monitor the adequate functioning of the systems with which the credit union has for operations with derivative instruments and for investment in debt securities, with the object of:

Knowing with full timeliness the disposed and undispensed balance of the credits.

Reducing exposure to risk up to the amount that applies, in the event that due to market movements, existing operations imply an excess to said limit.

VII.

Verify that, regarding credit operations, the treatment of reserves, discounts, write-offs, losses, and recoveries, as well as that applicable to administrative collection and, where applicable, judicial, including that entrusted to external service providers, complies with what is provided in the credit manual, which must expressly establish the different events, requirements, and conditions for this purpose.

VIII.

Review the adequate integration, update, and control of credit files, in accordance with what is provided in the Second Section of Chapter I Bis of these provisions.

IX.

In factoring, Discount, and Credit Rights Cession operations:

Ensure that the control mechanisms established in Article 86 Bis 11, fraction IV of these provisions have been complied with in the evaluation stage to approve and originate these operations; or

Verify that the platforms comply with what is stated in Article 86 Bis 12 of these provisions, in case credit unions use automated platforms.

The area in charge of the credit internal audit function must provide a report of what was observed in its reviews, at least once a year, to the Board of Directors and the Audit Committee, as well as keep said report available to the external auditor. In any case, the Commission may request the aforementioned report from the credit union.

Article 86 Bis 29.- Credit unions, in addition to the control and internal audit functions in the matter of credit mentioned in these provisions, must:

Corroborate the timely and proper delivery of the various files, reports, and information among the different officials, areas, and corporate bodies involved in the Credit Activity of the credit union, as well as to competent authorities.

II.

Monitor that the payments of borrowers related to administrative collection and, where applicable,

judicial, are made on the dates agreed in the credit contract, reporting any irregularity to those in charge of the administration of the credit in question.

III.

Corroborate that administrative collection and, where applicable, judicial, including that entrusted to

external service providers, is carried out in accordance with the strategies and procedures

established in the credit manual and applicable regulations. Regarding collection delegated to external service providers, parameters incorporating cost, time, and the problem of credit recovery must be considered.

Additionally, the action framework defined for these service providers must be considered, which establishes rights and obligations, as well as economic and administrative sanctions in case of non-compliance for either or both parties.

Subsection C

General provisions

Article 86 Bis 30.- The Commission may be assisted by a consulting company, for the evaluation or diagnosis of the Credit Activity of credit unions.

Article 86 Bis 31.- The General Director of the credit union will be responsible for the timely and proper delivery of information to credit information societies.

Article 86 Bis 32.- The legal area must be Independent of the credit origination and administration areas.

Article 86 Bis 33.- The Commission may request information from credit unions that it deems convenient, with the object of verifying compliance with what is provided in this chapter.

Subsection D

Precautionary measures

Article 86 Bis 34.- The Commission may:

Order the establishment of preventive reserves for risk in the operation of the credit portfolio,

in addition to those derived from the rating process of said portfolio, for those credits that

in their process present vices or irregularities or conflicts of interest in accordance with what is stated in

these provisions, or in the event that they depart from applicable regulations,

sound practices and financial usages, or from the objectives, guidelines, and policies established in

the matter of credit.

II.

Order, based on Article 7 of its law and other applicable provisions, the suspension

in the granting of new credits, by those credit unions whose Credit Activity, in general, presents serious deficiencies.

Section D

Additional preventive provisions

Article 86 Bis 35.- Credit unions must establish additional preventive provisions to those

they must create as a result of the rating process of their credit portfolio, up to the amount that

is required to provision 100% of those that are granted without documentation existing in the respective credit files:

That certifies having reviewed the Credit Information Report of the applicant that corresponds

prior to its granting and, where applicable, of the persons acting as guarantors, sureties, or joint obligors in the operation, or when the Credit Information Reports of the persons referred to in this subsection are not found in said files.

II.

That certifies compliance with all obligations established in fraction IV of Article 86 Bis 11 of these provisions, unless credit unions use automated platforms, in which case compliance with what is provided by Article 86 Bis 12 of these provisions must be certified.

Credit unions, for the purposes of this article, will consult the credit history of persons

applying for credit, natural and legal persons, with residence abroad, through companies that

provide such services in the country where they reside.

Credit unions may only release the additional preventive provisions established in accordance with

what is stated in the first paragraph of this article, three months after they obtain the documentation

referred to in subsections I and II above, and integrate it into the corresponding credit file.

Article 86 Bis 36.- Credit unions will be exempt from what is provided in Article 86 Bis 35

of these provisions, regarding:

Credits whose applicants have an employment relationship with the granting credit union and give their

irrevocable consent for the payment to be made through deductions that are made

from his

salary.

II.

Credits whose amount in national currency does not exceed the equivalent in national currency to 1,000

UDIs at the time they are granted or well, are denominated in said unit up to the

same amount, as well as credits whose amount in national currency is greater than the equivalent to

1,000 UDIs and up to the equivalent in national currency to 1,500 UDIs, in the latter case always

that it is the first credit that the credit union grants to its member.

Article 86 Bis 37.- Credit unions must have policies and procedures that allow

implement control measures to identify, evaluate and limit in a timely manner the taking of risks in the

granting of credits, based on the information they obtain from Credit Information Reports,

in which they foresee, at least, the following:

Criteria for valuing the content of the respective Credit Information Report, which allow

qualify the degrees of risk of a given credit applicant and, if applicable, of their guarantors,

sureties and joint obligors, when they have overdue debts or other type of credit

history.

II.

The additional information that would be required from the persons who are located in the situations provided

in the previous fraction.

III.

The circumstances under which credit would be granted or denied, to the persons who are located in the

situations provided in the previous fraction I.

IV.

The percentage of initial provisioning and, if applicable, additional, applicable to the credits in question, as well as the circumstances in which their release is appropriate.

Likewise, the aforementioned policies and procedures must refer, where appropriate, to the credits that, in

case, are granted under the provisions of article 86 Bis 36 of these provisions.

Credit unions will incorporate the mentioned policies and

procedures into their credit manuals, observing the provisions contained in

this chapter.

Article 86 Bis 38.- Credit unions may release the provisions constituted for the credits

that they grant, adjusting to what is established in the policies and procedures referred to in article 86 Bis

37 of these previous provisions.

Article 86 Bis 39.- Credit unions will send to the Commission, the policies and procedures that are

contained in the credit manual referred to in article 86 Bis 37 of these provisions,

approved by the Board.

The Commission will have the power to veto or order corrections to the policies and procedures contained

in this section, within 30 natural days following the date on which it receives them.

Second Section

Integration of credit files

Article 86 Bis 40.- Credit unions must include in their policies and procedures manuals

relative to Credit Activity, the requirements for the integration and maintenance of the files with which

they must count for each type of operation they celebrate with their debtors or borrowers, in terms of what

is stated in the provisions of this Chapter.

These requirements must foresee the incorporation of relevant information and documentation based on

the stage of the credit process that corresponds, including that relative to both promotion, evaluation,

approval and instrumenting of the credit, as well as that relative to follow-up, control and recovery of the portfolio,

considering for such effect, at least that indicated in Annexes 30 to 32 of these provisions,

as appropriate, understanding such data collection as the credit file.

Article 86 Bis 41.- Credit unions must integrate a file for each type of operation

credit that they celebrate with each debtor or borrower, during the validity of the credits or even being

overdue, with the information and documentation that corresponds attending the classification that follows

indicates:

Credits whose authorized amount is less than an amount equivalent in national currency to four

million UDIs, according to the requirements indicated in Annex 30.

II.

Credits whose authorized amount is equal to or greater than an amount equivalent in national currency to

four million UDIs, in terms of what is indicated in Annex 31.

III.

Credit operations in which the debtor, borrower or counterparty of the credit unions are

other financial entities, when transactions are celebrated under framework contracts,

such as repos, loans, financial derivatives or currencies that cause credit risk, they

will adjust to the terms of what is provided by Annex 32.

Notwithstanding what is provided in the first paragraph of this article, credit unions may integrate

a credit file per debtor or borrower, provided that said file contains the information

and documentation of all operations celebrated with the persons referred to, in terms of what is stated

in these provisions.

Article 86 Bis 42.- Credit unions, when they celebrate factoring, Discount or

Assignment of Credit Rights operations in which it is agreed that the factor, discounter or assignor retains the

administration and collection of a certain credit portfolio and credit rights that have been object

of the aforementioned operations, or well, hire collection offices, must foresee mechanisms and

controls that allow them to verify the adequate integration of credit files by the

persons mentioned above, in the terms and conditions contained in these provisions, as well

as stipulations that oblige the service provider to conserve them and keep them at their immediate

disposition.

Credit unions must integrate the respective file for which they may agree with the

person administering the portfolio, the integration, custody and administration of this, the above with

independence of whether the latter is or is not obliged to integrate its own file.

Article 86 Bis 43.- The files of each credit integrated in accordance with these provisions,

can be kept in paper or through electronic files, recorded or microfilmed, provided that

are always available for consultation by the personnel of the credit unions duly

authorized, as well as by the Commission.

When the documentation in paper is not integrated into the credit files for reasons of

security, credit unions through the responsible personnel for integrating and updating said

files, must attach to these a certificate indicating the physical place of storage where they are

such documents or instruments.

The documentation comprising the credit files may be under the custody of

different areas provided that it is established in the internal policies of the credit union and in the manuals

respective. To this effect, credit unions must implement controls that allow knowing at all times

the location of each of the documents that make up the file, as well as the identity of the

official responsible for its custody and safekeeping.

Article 86 Bis 44.- The information and documentation contained in the file must be kept

updated in accordance with these provisions and the policies of the credit union, for which credit unions must have control and verification mechanisms that allow detecting, if applicable, shortages and

procedures for their regularization and collection. To this effect, credit unions will designate the personnel

responsible for integrating and updating the files, as well as controlling the service of their consultation and

safekeeping.

Credit unions, when the debtor or borrower belongs to a Group of persons that

represent Common Risk for the credit union, as provided in article 47, fraction II of the

LUC, must identify this condition in the file assigned to each of them, identifying also the Common Risk group to which the debtor, borrower or counterparty in question belongs or

well, establish mechanisms or controls of accessibility and, if applicable, of recovery for that

information that allows identifying at all times the different Common Risk groups from the

consultation of an individual file.

Likewise, said credit unions, when celebrating credit operations with the persons referred to in

article 62 of the LUC, must indicate in the respective credit files that it is an operation

celebrated with related persons in the terms of the cited article.

Regarding credit operations that are in the process of judicial collection, credit unions

will be exempt from updating the files, exclusively with respect to the

information that must be provided by the debtor or borrower.

Article 86 Bis 45.- The term for the conservation of credit files will adjust to the provisions

legal and administrative applicable. The above, even once the write-offs or losses that, in

case, determine the credit unions in accordance with accounting criteria.

Article 86 Bis 46.- The Commission may order the constitution and maintenance of preventive reserves

for risk in the operation for the credit portfolio, additional to those derived from the rating process, for

100% of the credit debt balance, when it is not contained in the corresponding files, or cannot

be proven by the credit union, the existence of the information considered necessary for

exercise the collection action of the credit operations, according to what is established in the Annexes that

correspond to the type of operation in question.

In the case of operations indicated in article 86 Bis 36 of these provisions, the

credit unions will be exempt from integrating into the respective files the Credit Information Report.

The preventive reserves referred to in this article must be considered of general character and

only can be released once the credit union proves to the Commission that it has corrected the

observed deficiencies.

Article 86 Bis 47.- Credit unions in credits, loans or Financing that they grant

for any amount to their members, cannot demand payment of interest in advance, but

only for overdue periods; this situation must be reported at the time of agreeing on the operation.

Article 86 Bis 48.- Operations with related persons that must be submitted to the approval

of the Board in terms of what is provided by article 62 of the LUC, will be presented through the channel and with the favorable opinion of the credit committee or of whoever performs its functions in the credit union in question.

In case of being approved, credit unions must present to the Commission a certified copy of the

agreement in which the approval of the operation is recorded, within 15 business days following the session

of the Board in which the aforementioned operation has been approved, informing it in writing of the characteristics of the

credit granted, the way in which its payment will be made and, if applicable, its renewal or its extinction.

Chapter II

Of portfolio rating

Article 87.- . . .

I. and II.

. . .

III.

Repealed.

IV. and V.

. . .

VI.

Repealed.

VII.

. . . "

" Article 95.-

. . .

I. to III.

. . .

IV.

In the case where guarantees are received under the First Loss Coverage Scheme, for

portfolios of at least fifty credits, the following procedure will be followed:

a) to d) . . .

The total amount of portfolio estimates calculated in accordance with the previous subsection must

be compared with the value of the guarantees granted through the First Loss Coverage

Scheme, adjusting as follows:

and 2. . . .

. . .

. . . "

" Article 97.-

. . .

I. to III.

. . .

IV.

In the case where guarantees are received under the First Loss Coverage Scheme, for

portfolios of at least fifty credits, the following procedure will be followed:

a) to d)

. . .

The total amount of portfolio estimates calculated in accordance with the previous subsection must

be compared with the value of the guarantees granted through the First Loss Coverage

Scheme, adjusting as follows:

and 2.

. . . "

" Article 102.-

. . .

The resulting amount of estimates to be constituted as a result of the use of guarantees under Schemes of

First Loss Coverage must be considered under the item of specific provisions. "

" Chapter III

Internal Controls

Article 108.- . . .

I. and II.

. . .

III.

Approve, if applicable, the code of conduct of the credit union, as well as promote its dissemination

and application in coordination with the General Directorate.

. . .

IV. to VI. . . .

. . . "

" Article 117 .- . . .

The objectives and guidelines of the Internal Control System must attend to what is provided in the articles

107 and 108 of these provisions and refer to at least, the aspects indicated below, which will be elaborated by the General Directorate and submitted to the consideration of the committee itself:

General policies relative to the organizational structure of the credit union, seeking that

there is a clear segregation and delegation of functions and responsibilities between the different

units of the credit union, as well as the Independence between the units, areas and functions

that so require.

II.

Establishment of communication channels and information flow between the different units

and areas of the credit union to the effect that the General Directorate can implement what is stated

in subsection b) of fraction IV of article 125 of these provisions.

III. and IV.

. . .

Article 118.- . . .

I. and II.

. . .

III.

The code of conduct of the credit unions elaborated by the General Directorate.

IV.

The changes, if applicable, to accounting policies regarding the recording, valuation of items of the

financial statements and presentation and disclosure of information of the credit union, so that

the latter is complete, correct, precise, integral, reliable and timely, elaborated by the director

general in accordance with applicable regulations. In any case, the committee may also propose

the cited changes when it considers necessary for the credit union, hearing the opinion of the

General Directorate.

. . .

Article 119.-

. . .

I. to III.

. . .

IV.

Monitor the Independence of the Internal Audit area, with respect to the other business units and

administrative of the credit union. In case of lack of Independence, it must be reported to the

Board.

V. and VI.

. . .

VII.

Review, in coordination with the General Directorate, at least once a year or when there are

significant changes in the operation of the credit union, the manuals referred to in

fraction II of this article, as well as the code of conduct referred to in fraction III

of article 118 of these provisions.

VIII. to X.

. . .

Article 120.- The Audit Committee in the elaboration of the report referred to in article 119 fraction

VI of these provisions, will hear the General Directorate, the internal auditor and the responsible or

responsible for the functions of Internal Comptrollership of the credit union. In case of difference of

opinion between the latter, with respect to the Internal Control System, such differences must be incorporated into said

report. "

" Article 122.-

. . .

I. to VI.

. . .

VII.

Verify the organizational structure authorized by the Board, in relation to the Independence of

the different functions that so require, as well as the effective segregation of functions and exercise of

powers attributed to each unit of the credit union.

VIII. to XI.

. . .

Article 123.- . . .

The responsible for the functions of Internal Audit will inform in writing the result of its management, to the

Audit Committee at least semi-annually or with a greater frequency when so established by said Committee. The above, without prejudice to making its knowledge, in an immediate manner, the detection of

any deficiency or deviation that it identifies in the exercise of its functions and that, in accordance with the System

Internal Control, is considered significant or relevant. Additionally, such reports will be delivered to the

General Directorate and to other units of the credit union, when so deemed appropriate in attention to

the nature of the detected problem.

Article 124.-

. . .

I. to III.

. . .

IV.

Rotation of audit personnel, according to the areas subject to review, in order to preserve

its

Independence.

V. to VII.

. . .

Sixth Section

Of the General Directorate

Article 125.- The General Directorate will be responsible for the proper implementation of the System of

Internal Control; the above, within the scope of the functions corresponding to said direction.

. . .

To this effect, to the General Directorate, in addition to what is stated in these provisions, it will correspond to carry

out the following activities:

I. to IV.

. . .

Elaborate, document and implement the policies and procedures necessary so that the

Technological Infrastructure that the credit union uses to carry out its operations and provide its

services, complies with the following:

Each element of the Technological Infrastructure performs at all times the functions for which

it was designed, developed or acquired.

Include controls that ensure adequate segregation of functions between the personnel

user, as well as adequate schemes of authorization of the operations that are carried out through

the own computer system.

Have documented processes, functionalities and configurations, including its

development or acquisition methodology, as well as the records of its changes and the inventory of

all elements of the Technological Infrastructure.

Incorporate aspects of information security and a mechanism of project control for

each of its elements during the various stages of the life cycle, considering the

elaboration of requirements, design, development or acquisition, implementation tests,

release processes, periodic tests, change management, replacement and destruction of

information. Regarding elements of communications and computer equipment, said

security aspects must include, at least:

Logical and physical segregation of the different networks in different domains depending on the

function they develop or the type of data that is transmitted.

ii.

Secure configuration according to the type of element, considering at least, ports,

services, permissions, access lists, manufacturer updates and configuration

factory.

Each element of the Technological Infrastructure is tested before being implemented or at

being modified, using quality control mechanisms that prevent that in said tests

use real data from the production environment, reveal sensitive or security information, or that

introduce any functionality not recognized for said element.

Have the licenses or use authorizations that are necessary.

Contain strict security measures for access and use of the information that is

transmitted, stored and processed in the Technological Infrastructure that maintains the union

of credit, considering at least:

Identification and authentication mechanisms of all and each of the users of the

Technological Infrastructure that allow them to be recognized unequivocally and ensure access

only to persons expressly authorized for this purpose. Both

mechanisms must include specific controls for those users with greater

privileges, derived from their functions, such as those of database administration

and operating systems.

ii.

User profiles that limit access only to the functionality of the

Technological Infrastructure and required information, based on the responsibilities and

powers of the position of each user.

iii.

Information encryption mechanisms according to the degree of sensitivity that the union

credit determines, when it is transmitted or stored.

iv.

Robust composition of passwords and access keys.

Control of unattended sessions, as well as simultaneous sessions with the same

user identifier.

vi.

Security mechanisms, both physical access, as well as environmental and electrical energy,

that protect and allow operation in accordance with the specifications of the supplier,

manufacturer or developer of each element of the Technological Infrastructure of the union

of credit.

Minimize the risk of interruption of the operation based on backup mechanisms and

information recovery procedures, as well as of the Technological Infrastructure and

the alternate means for information exchange.

Maintain audit logs, including detailed information of accesses and the

operation or activity carried out by the user personnel, regardless of the level of

privileges with which this has for access, generation or modification of the information

that it receives, generates, stores or transmits in each element of the Technological Infrastructure,

as well as the procedures for the periodic review of said records.

Contemplate the performance of tests tending to detect vulnerabilities and threats, as well

as penetration in the different elements of its Technological Infrastructure, in order to

implement defense mechanisms that prevent unauthorized access and use of this.

Said tests will be carried out at least once a year or when they carry out modifications

substantive in some element of the Technological Infrastructure.

Processes of reaction and handling of security incidents that guarantee detection,

classification, attention, investigation, diagnosis, report to competent hierarchical levels,

solution, follow-up and communication of said incidents.

Have planning exercises that allow measuring the capacity of the Technological Infrastructure

that supports its operation, defined by the credit unions, as well as that they adhere to

the results of said exercises with respect to the needs of increase of

capacity.

Contemplate automated controls that minimize the risk that user personnel commits

errors or omissions in the manual or semi-automated processes that they must perform in the

computer system in question.

Allow detecting the alteration or falsification of records in the Technological Infrastructure.

Implement mechanisms that measure and ensure levels of availability and times of

response, that guarantee the execution of the operations and services performed.

VI. to VIII.

. . .

. . . "

" Article 127.- . . .

I. to V.

. . .

VI.

Allow, through the information security officer referred to in Article 128 of these provisions, at least the following:

Authorize and monitor access to the credit union's computer systems, including those used for the storage, processing, and transmission of its information and that of its members.

Participate in the definition of security policies and procedures, referred to in fraction V of Article 125 of these provisions.

Review at least quarterly, or sooner in the event of security events or incidents, the activities carried out by user personnel and service providers in the different elements of the credit union's Technological Infrastructure, including technical personnel with high access privileges, such as operating system and database administrators.

Verify the implementation and continuous compliance with information security policies and procedures in the credit union's Technological Infrastructure, including at least those included in fraction V of Article 125 of these provisions.

Credit unions must ensure that the information security officer has available to him/her the records of persons who have access to information related to operations carried out by their members, as well as those in which the credit union intervenes, including those located abroad, users with high privileges, such as operating system and database administration, as well as their service providers.

Article 128.- The Internal Comptrollership functions that, in principle, correspond to the General Directorate of the credit union, may be assigned to a specific area or, if applicable, to personnel distributed across several areas, possibly even being hierarchically independent of the General Directorate; however, in no case may they be attributed to personnel belonging to the Internal Audit area referred to in Article 121 of these provisions, or to persons or units that represent a conflict of interest for their proper performance. The aforementioned Internal Comptrollership functions, as well as their assignment within the credit union, must be documented in manuals.

Additionally, as part of the Internal Comptrollership functions, credit unions must designate a person to serve as the information security officer, who, in addition to meeting the conditions previously stated, must enjoy independence from business units as well as computer systems and audit areas, and whose function will consist of complying with what is established in Article 127, fractions V and VI of these provisions. "

" Article 131.- The code of conduct drafted by the General Directorate and which the Audit Committee will propose for approval by the Board, will establish a self-regulatory framework that governs the conduct of directors, executives, and other personnel within the credit union, as well as with their members and other entities.

. . . "

" Chapter IV

Of the authorizations to constitute and operate as a credit union, to carry out merger processes, and to participate in the share capital of credit unions

First Section

Of the authorizations to constitute and operate as a credit union and to carry out merger processes

Article 134.- Persons who intend to obtain authorization to constitute and operate as a credit union in accordance with what is stated in Article 17 of the LUC or who intend to carry out a merger process in accordance with Article 37 of the LUC, must present, in addition to what is provided in said articles, according to the case, the following documentation regarding each of the persons who intend to subscribe to the share capital of the company in question:

I. and II.

. . .

Article 134 Bis.- Authorization requests to constitute and operate a credit union, in addition to what is established in Article 17 of the LUC, must be accompanied by the following documentation and information:

The documentation that accredits the personality and powers of the person promoting the request, granted by the company or possible shareholders, indicating an address for hearing and receiving all types of notifications, as well as the name of the person or persons authorized for such effects.

II.

The name of the requesting company and, if applicable, in the draft articles of association of the company, the proposed name.

III.

The list of members of the Board, auditors, directors or general managers and executives of the next two levels, who must present their curriculum vitae, as well as a sworn statement that they meet the legal and administrative requirements to hold the position in question, in accordance with Annexes 28 and 29 of these provisions.

IV.

The draft manuals for credit, internal control, integrated risk management, and others that, in accordance with the LUC and these provisions, must be drafted.

Copy of the document issued by the Commission, in which the current certification of the compliance officer to be appointed by the credit union is recorded, obtained in accordance with the "General Provisions for the certification of independent external auditors, compliance officers, and other professionals in matters of prevention of operations with illicit resources and terrorist financing" published in the Official Journal of the Federation on October 2, 2014, and their respective modifications. "

" Chapter V

Of Service Companies and Real Estate Societies

First Section

Of the organization and functioning and of the services they provide

Article 138 Bis.- Service Companies and Real Estate Societies must be constituted as a fixed or variable capital anonymous company and organized in accordance with the General Law of Commercial Companies. The companies referred to in this article must comply with the following obligations:

Notify the Commission of the address where the main seat of their administration is located. Additionally, they must notify the Commission of the opening, change of location, and closure of any of their offices.

II.

Request authorization from the Commission to merge or split, for which they must indicate, if applicable, the terms and conditions under which they intend to transfer their assets, liabilities, and capital, and must present draft minutes of the assembly in which the approval of their governing body is recorded, regarding the corporate act in question, in addition to the legal instruments documenting them and the financial statements approved by the competent bodies. Regarding Service Companies, they must indicate the effects that the merger or split would have on their general operating plan and on the credit unions that participate in their capital.

III.

Refrain from investing in share certificates representing the share capital of their shareholders that are credit unions.

IV.

Refrain from increasing the amount of their liabilities with the credit unions that participate in their capital, by an amount greater than their book capital.

Without prejudice to what is stated in this fraction, Real Estate Societies may not obtain credits for the acquisition of real estate.

Submit to the approval of the Commission the reforms to their articles of association, within a period of thirty business days following the holding of the respective shareholders' assembly in which the reform was agreed.

VI.

Regarding the documents indicated in fractions V and XII of Article 138 Bis 2 of these provisions, they must submit to the approval of the Commission any modifications that may have an impact on the performance or situation of the credit unions.

VII.

Real Estate Societies must refrain from acquiring, administering, or taking under financial lease real estate not intended for the offices of credit unions. Likewise, they must begin construction works on lands owned by them, within a period that does not exceed two years from the date of acquisition of the lands. In exceptional cases, the Commission may extend this period only once, for the period that in its judgment is strictly necessary, provided that the extension does not exceed two years.

As an exception to the provisions of the previous paragraph, Real Estate Societies may designate for a period that cannot exceed three years, up to fifty percent of each real estate property owned by them to the offices of any other entity or person other than those participating in their share capital. For this purpose, they must inform the Commission and provide draft legal instruments documenting the use of the real estate, as well as a description of the actions they will carry out to comply with the previous paragraph once the respective periods have concluded, with a twenty-business-day advance notice from the date on which they intend to designate the real estate for the aforementioned purposes.

Service Companies may act on behalf and for the account of credit unions to carry out the operations provided for in Article 40 of the LUC, provided that they adhere to what is provided in Article 94 of the LUC and the provisions emanating from said provision.

Article 138 Bis 1.- The Complementary or Auxiliary Services that Service Companies may provide to credit unions will be the following:

Administration, recruitment, selection, training, organization, and inspection of personnel.

II.

Accounting, logistics engineering, and marketing.

III.

Legal and security.

IV.

Acquisition, lease, or construction of the movable or immovable property necessary or convenient for the development of their operations, as well as those of their members, in accordance with fractions XXI, XXV, and XXVII of Article 40 of the LUC.

Obtaining by any title, concessions, permits, authorizations, or licenses necessary for the carrying out of their activities or those of their members, which must be issued by the competent authority.

VI.

Transport of goods or merchandise obtained or manufactured by their members or third parties.

VII.

Import and export of goods or merchandise and their transfer to fiscal or supervised warehouses obtained or manufactured by their members or third parties.

VIII.

Loading and unloading maneuvers, stevedoring or unstevedoring of goods or merchandise obtained or manufactured by their members or third parties in any means of transport.

IX.

Storage, conservation, handling, control, distribution, and marketing of goods or merchandise obtained or manufactured by their members or third parties.

Packaging and wrapping of goods or merchandise, as well as placement of labels, seals, or tags on goods manufactured by their members or third parties.

XI.

Operational processes or database and computer system administration.

XII.

Information processing.

XIII.

Use of Technological or telecommunications Infrastructure.

Second Section

Of the authorization to invest in Service Companies and Real Estate Societies

Article 138 Bis 2.- Credit unions that intend to obtain authorization to invest in share certificates representing the share capital of Service Companies and Real Estate Societies must present to the Commission the following information and documentation:

Request, in free format, signed by their legal representative, accompanied by documents that accredit their personality.

II.

Certified copy of the articles of association of the Service Company or Real Estate Society in which they intend to invest. Regarding Service Companies or Real Estate Societies that have not yet been constituted, the draft articles of association must be presented.

III.

List of shareholders of the Service Company or Real Estate Society in question and the shareholding percentage of each.

IV.

Data of the general director or equivalent, as well as of the executives of the two immediate lower hierarchies from this of the Service Company or Real Estate Society in which they intend to invest.

General operating plan of the Service Company or Real Estate Society.

Regarding Service Companies, the security and confidentiality mechanisms required must be included, depending on the type of services to be provided to credit unions.

In all cases, the general operating plan must provide for a contingency plan so that, in the event of operational problems, the proper functioning of the credit union or credit unions, or the members of these, that invest in its share capital, including contingency procedures in case of natural disasters, is not affected.

VI.

Certified copy by the Board secretary, of the agreement adopted by the corresponding governing body, in which the approval regarding the investment in the Service Company or Real Estate Society in question is recorded.

VII.

Amount of the investment intended to be made and the percentage that its participation would represent in the share capital of the Service Company or Real Estate Society in question, specifying, if applicable, the series, class, and nominal value of the shares.

VIII.

Regarding Service Companies, the indication of whether it is an Exclusive Service Company or a Generic Service Company.

IX.

Justification of the economic and operational viability, for a minimum period of three years, regarding the participation in the share capital of the Service Company or Real Estate Society in which they intend to invest, and, if applicable, the need for the provision of the respective services.

Pro forma financial statements of the credit union in question for the next three fiscal years, as well as the financial statements of the Service Company or Real Estate Society in question for the last three fiscal years or from the date of its constitution, when this is less than 3 years.

XI.

Location where the main seat of the administration of the Service Company or Real Estate Society is or will be located and, if applicable, the other offices.

XII.

Draft contracts in which the rights and obligations of the credit union or credit unions, as well as of the Service Company or Real Estate Society in question, are stipulated.

XIII.

In the event that the services to be provided by Service Companies are related to operational processes or database and computer system administration, information processing, or use of Technological or telecommunications Infrastructure, the following must be presented additionally:

Specify the operational process or database and computer system administration, the type of information processing, or the Technological or telecommunications Infrastructure, object of the services to be provided by the Service Company.

A report specifying the operational processes or database and computer system administration of the credit union that are the object of the services to be provided, as well as the criteria and procedures to evaluate the experience, technical capacity, and human resources of the Service Company to provide the service with adequate levels of performance, reliability, and security, as well as the effects that could be produced on one or more operations carried out by the entity itself.

In the event that the services refer to the use of Technological or telecommunications Infrastructure, additionally a technical report specifying the type of operations or services that will be carried out using the technological base provided by the Service Company, as well as the manner in which compliance with the minimum operation and security guidelines, indicated in Annex 33 of these provisions, which must be observed at all times by the Service Company, will be given.

The evaluations carried out by the credit union to determine the extent to which the services to be provided by Service Companies could qualitatively or quantitatively affect the operations carried out by the credit union, taking into account the following:

The capacity of the credit union to, in case of contingency, maintain operational continuity and the carrying out of operations and services with its members.

ii.

The complexity and time required to find a third party that, if applicable, replaces the Service Company.

iii.

The limitation in decision-making that significantly transcends in the administrative, financial, operational, or legal situation of the credit union itself.

iv.

The ability of the credit union to maintain appropriate internal controls and timeliness in accounting registration, as well as to comply with regulatory requirements in the event of service suspension by the Service Company.

The impact that the suspension of the service would have on the finances, reputation, and operations of the credit union.

vi.

The vulnerability of information related to members.

The measures that credit unions will implement in the aforementioned cases.

Article 138 Bis 3.- Credit unions will require authorization from the Commission to increase or decrease the investment they have in the share capital of Service Companies and Real Estate Societies, for which they must present a written request and attach the following information and documentation:

Request, in free format, signed by their legal representative, accompanied by documents that accredit their personality.

II.

Amount of the increase or decrease in the investment held, as well as the shareholding percentage that this represents in the share capital of said company.

III.

Drafts of the documents relating to the acts that give rise to the said increase or decrease.

IV.

Justification of the said increase or decrease.

List of shareholders of the company in question, as well as the percentage of their shareholding that would result from the increase or decrease in the investment.

VI.

Certified copy by the Board secretary, of the agreement adopted by the corresponding governing body, in which the approval of the increase or decrease in the investment in the capital of the company in question is recorded.

VII.

The description of the changes in the general operating plan of the Service Company or Real Estate Society, if applicable.

For the purposes of what is provided by this article, there will be no increase or decrease in the investment when there is a variation in the shareholding percentage of the credit union in the Service Company or Real Estate Society in question, by virtue of the increase or decrease in the shareholding of other shareholders, without the acquisition or disposal of the titles by the credit union. In such cases, the credit union must notify the Commission within a period of ten business days following the update of the case in question, indicating the percentage that they finally maintain.

Third Section

Of inspection and surveillance

Article 138 Bis 4.- The Commission will have the faculty to supervise Service Companies and Real Estate Societies, regarding the carrying out of operations and services or the situation of such companies that affect the stability, liquidity, or solvency of the credit union to which they belong and to which they provide the respective services.

Article 138 Bis 5.- In the authorization granted to credit unions to invest in Service Companies and Real Estate Societies and in order to observe what is stated in Article 138 Bis 4 of these provisions, it may be provided that, prior to the start of the respective operations, the Commission will carry out the inspection visits it deems necessary to ensure that it is in conditions to provide the agreed services, possibly opposing, if applicable, the said start of operations.

Article 138 Bis 6.- For the purposes of what is provided in Article 138 Bis 4 of these provisions, Service Companies and Real Estate Societies must present to the Commission the following information:

Their financial information, as well as any information requested from them, in the form and terms established for this purpose.

II.

Copy of the service provision contracts between the company or society in question and the credit union or credit unions to which they provide their services, when so requested.

Additionally, the general director or equivalent of Service Companies and Real Estate Societies must inform the Commission annually by the last business day of April of each year, the percentage that the gross income obtained from the provision of their services to credit unions represents, with respect to their total income.

Fourth Section

Of the revocation of the authorization

Article 138 Bis 7.- The Commission may revoke the authorization granted to a credit union for the investment in Service Companies or Real Estate Societies, when any of the following circumstances occur:

These provisions or others applicable to them are seriously or repeatedly violated.

II.

The operational or financial stability of the credit union is seriously jeopardized.

In this case, the credit union must adopt the appropriate measures to terminate the contracts it has entered into that place it in this situation.

III.

The status of Service Company or Real Estate Society is lost.

For the purposes of the revocation referred to in the first paragraph of this article, the Commission must hear the respective credit union.

When companies lose the status of Service Companies or Real Estate Societies, said companies and credit unions must inform the Commission within a period that will not exceed 15 business days, counted from the day following that on which they have knowledge of that circumstance.

Credit unions that retain investments in Service Companies or Real Estate Societies that lose said status, must present to the Commission a plan to withdraw the investments or to adjust them to the regulations. To this effect, credit unions will have a period of 180 calendar days,

counted from the day following the notification of the revocation, to cease participating in the capital of the Service Company in question, and of 360 natural days counted from the day following the notification of the revocation, in the case of Real Estate Companies.

TRANSITORY

FIRST.- This Resolution shall enter into force the day following its publication in the Official Journal of the Federation, except for what is provided in the following transitory articles.

SECOND.- The rules contained in the First Section and Second Section of Chapter I Bis of Title Seventh of the General Provisions applicable to general warehouse companies, exchange houses, credit unions, and multiple-object financial companies regulated, which are added by means of this instrument, shall enter into force twelve months following their publication in the Official Journal of the Federation.

THIRD.- Credit unions shall have a period of up to six months for the elaboration and documentation of the policies and procedures referred to in fraction V of article 125 of the General Provisions applicable to general warehouse companies, exchange houses, credit unions, and multiple-object financial companies regulated, which are reformed through this instrument, and of up to twelve months for their implementation, both periods counted from the entry into force of this Resolution.

FOURTH.- Credit unions must carry out the designation of the person who will serve as the information security officer referred to in article 128, second paragraph of the General Provisions applicable to general warehouse companies, exchange houses, credit unions, and multiple-object financial companies regulated, which are reformed through this instrument, no later than twelve months counted from the entry into force of this Resolution.

Respectfully,

Mexico City, October 30, 2017. - The President of the National Banking and Securities Commission, Jaime González Aguadé. - Rubric.

ANNEX 24

INFORMATION FORMAT FOR PERSONS WHO INTEND TO MAINTAIN A PARTICIPATION IN THE SHARE CAPITAL OF A CREDIT UNION AND PERSONS WHO INTEND TO CONSTITUTE THEMSELVES AS CREDITORS WITH GUARANTEE REGARDING THE PAID SHARE CAPITAL OF A CREDIT UNION

Name or possible name of the company.

Date of preparation (dd/mm/yyyy).

This information is part of the authorization request to constitute and operate a credit union or to carry out a merger process of a credit union in terms of article 37 of the Credit Unions Law, as well as the authorization requests referred to in article 23 or according to what is stated in article 37 of the aforementioned law, as applicable, presented before the National Banking and Securities Commission. Its content is confidential and will be subject to review and verification.

Filling Instructions.

This format must be duly filled out by:

a) Natural or legal persons who intend to subscribe more than five percent and up to thirty percent of the share capital of a credit union.

b) Each of the members of a Group of persons who collectively intend to acquire more than five percent of the share capital of a credit union or obtain control of said company.

c) Persons who intend to receive in guarantee more than five percent of shares representing the share capital of a credit union.

No spaces should be left blank. In any case, mention: None, No, I do not have, Not applicable.

All names and data required must be expressed in full (e.g., persons with two names).

SECTION 1

NATURAL PERSONS

Personal identification data

Name(s).

Paternal surname.

Maternal surname.

Nationality.

RFC (with homoclave).

CURP.

Address for hearing and receiving notifications

Street and exterior and interior number.

Neighborhood.

Delegation or Municipality.

Federal entity.

Postal code.

Country.

Marital status.

Name of spouse, concubine or concubine, as well as their economic dependents.

Name of relatives in ascending and descending straight line up to the first degree.

LEGAL ENTITIES, TRUSTS OR INVESTMENT VEHICLES

Identification data

Name or trade name.

Main activity.

Nationality.

RFC (with homoclave).

Date of constitution.

Name of the legal representative.

Profession of the legal representative.

Work background of the legal representative.

Address for hearing and receiving notifications

Street and exterior and interior number.

Neighborhood.

Delegation or Municipality.

Federal entity.

Postal code.

Country.

Name of the shareholders or persons

who participate with 10% or more of the

share capital of the legal entity, or of the

trust or investment vehicle's assets. *

Shareholder

(%)

In the case of legal entities, trusts, or other investment vehicles, the direct and indirect participations of natural persons in the capital of these must be related and broken down in a way that allows the identification of the natural persons who are the ultimate beneficiaries of said participations.

According to statutes, can it invest in companies?

Yes ______

No _____

Has the investment in question been approved by its board of directors?

Yes ______

No _____

Does it have or has it had investment in financial entities?

Yes ______

No _____

Specify: __% equity

Name:__________

SECTION 2

PARTICIPATION OF THE PERSON IN THE CREDIT UNION

Shareholder:

___ % current shareholding.

___ % shareholding after acquisition.

___ % shareholding with which it would participate in the new entity.

Position, if applicable.

President of the board of directors.

Owner director.

Independent:

Yes

Alternate director.

Independent:

Yes

Secretary of the Board of Directors.

General Manager.

Legal Director.

Finance Director.

Commercial Director.

Others (s).

Which?

SECTION 3

PATRIMONIAL RELATIONSHIP

a) Assets and rights.

AMOUNT

(thousands of pesos)

1.- Real estate of the applicant, his spouse, concubine or concubine, as well

as their economic dependents.

Total:

2.- Movable assets (including motor vehicles, aircraft, and

vessels) of the applicant, his spouse, concubine or concubine, as well as their

economic dependents.

Total:

3.- Balances in bank accounts of national or foreign financial entities

(including deposits and debt securities).

Total:

4.- Others, including investments and other types of securities in the share capital of

financial entities or legal entities with profit purposes national or

foreign.

4.1.- Specify the name of the financial entity or legal person:

4.2.- Specify the percentage of shareholding: _______.

Total:

5.- Share participation in the share capital of financial entities or legal

entities national or foreign of the applicant, his spouse, concubine or

concubine, as well as their economic dependents and relatives by

cognatic, affinal, or civil relationship up to the first degree.

Total:

6.- Sponsorships, courtesies, and donations received by the applicant, his spouse,

concubine or concubine, as well as their economic dependents and relatives

by cognatic, affinal, or civil relationship up to the first degree.

Total:

7.- Total assets and rights (gross assets).

b) Debts and obligations.

8.- Mortgages and financial obligations and loans of the applicant, his spouse,

concubine or concubine, as well as their economic dependents and relatives

by cognatic, affinal, or civil relationship up to the first degree.

Total:

9.- Others, including economic and financial interests.

Total:

10.- Total debts and obligations.

11.- Assets (Subtract 7 minus 10).

12.- Guarantees and sureties granted.

13.- Insurance policies.

14.- Total net income of the

applicant.

Amount

(thousands of pesos).

Main source(s) of income.

Last year 20_ _.

Penultimate year 20_ _.

Antepenultimate year 20_ _.

15.- Total net income of the

spouse, concubine or concubine

and economic dependents of the

applicant.

Amount

(thousands of pesos).

Main source(s) of income.

Last year 20_ _.

Penultimate year 20_ _.

Antepenultimate year 20_ _.

16.- Comments and clarifications.

SECTION 4

ORIGIN OF RESOURCES

Source

Entity or person

Exact amount to

contribute to the share

capital, price of the

shares or amount of the

obligation for which the

guarantee is received,

as applicable

(%).

Own resources. Specify:

N / A.

Others. Specify:________

(indicate if they come from

credits granted by

national or foreign financial

entities).

Total resources:

100 %

Comments and clarifications.

SECTION 5

POSITIONS OR ACTIVITIES INFORMATION (NATURAL PERSONS)

1.- Positions and offices held in public or private entities by the applicant, his spouse,

concubine or concubine, as well as their economic dependents and relatives by cognatic,

affinal, or civil relationship up to the first degree.

2.- Professional or business activities carried out by the applicant, his spouse, concubine or

concubine, as well as their economic dependents and relatives by cognatic, affinal, or civil

relationship up to the first degree.

3.- Honorary positions and offices held by the applicant.

4.- Participation in councils and philanthropic activities of the applicant, his spouse, concubine or

concubine, as well as their economic dependents and relatives by cognatic, affinal,

or civil

relationship up to the first degree.

SECTION 6

ADDITIONAL INFORMATION

If you consider that there is any other relevant information not contemplated in the previous sections, you must list the information and comment on it in the following box:

Section.

Information.

SECTION 7

DECLARATIONS AND SIGNATURES

By this document, the undersigned authorizes the National Banking and Securities Commission, regarding the

information provided here, to:

Verify it as it deems pertinent and obtain, from any other authority it deems convenient,

information about my person, in connection with the authorization request presented before that

Commission.

Share it on a confidential basis with the National Insurance and Sureties Commission,

National Retirement Savings System Commission, the Bank of Mexico, the Tax Administration Service,

the Attorney General's Office and other authorities, for the exclusive

fulfillment of their functions.

I confirm that I have read and filled out this format carefully, such that I understand its content

and legal implications.

I understand that providing false data will be grounds for exclusion of the undersigned, without prejudice to the

criminal or legal sanctions that may apply according to the case.

I DECLARE UNDER OATH THAT THE DATA CONTAINED IN THIS

DECLARATION ARE TRUE.

Signature of the person or legal representative

NAME

DATE

SECTION 8

DOCUMENTS THAT MUST ACCOMPANY THE APPLICATION

Natural persons

Copy of valid official identification (voter ID or valid passport and, in the case of

foreign nationals, migratory form or passport).

Copy of the tax identification card, if applicable.

Copy of the Unique Population Registry Key (CURP).

Copy of the professional card or certificate of studies or of the document that accredits the last degree

of studies achieved.

Patrimonial situation of the last three years.

Report prepared by legal entities that provide audit or corporate investigation services of recognized prestige,

in the judgment of the National Banking and Securities Commission, on the

veracity of the statements regarding the origin of the resources that make up the assets of

the person for which the respective documentary support must be at hand. Likewise, it

must be attached to the authorization request, documentary evidence related to the referred

origin of the resources.

Copy of the contract for the provision of audit or corporate investigation services that the

applicant has entered into with the legal entity referred to in the previous numeral, which contains

the terms and conditions agreed upon by the parties for the preparation of the report contained in the

previous numeral, regarding which the National Banking and Securities Commission may require

modifications.

Copy of the annual tax declarations of the last three fiscal years.

Legal entities

Certified copy of the current social statutes.

Copy of the tax identification card.

Authenticated copy by the sole administrator or by the secretary of the board of directors of the

annual audited financial statements and the external auditor's report, if obliged to do so, approved by its administrative body of the last three fiscal years, or those corresponding according to the date of their constitution.

If applicable, authenticated copy, by the secretary of the board of directors of the resolution of the

administrative body that approves the subscription and payment of the shares of the credit union to

be constituted.

Copy of the annual tax declarations of the last three fiscal years.

In the case of legal entities that are not obliged to audit their financial statements in terms of the applicable provisions, a report prepared by legal entities that provide audit or corporate investigation services of recognized prestige, in the judgment of the National Banking and Securities Commission, on the veracity of the statements regarding the origin of the resources that make up the assets of the person for which the respective documentary support must be at hand. Likewise, documentary evidence related to the referred origin of the resources must be attached to the authorization request.

Copy of the contract for the provision of audit or corporate investigation services that the

applicant has entered into with the legal entity referred to in the previous numeral, which contains

the terms and conditions agreed upon by the parties for the preparation of the report contained in the

previous numeral.

ANNEX 28

CURRICULAR INFORMATION FORMAT FOR PERSONS PROPOSED TO OCCUPY THE

POSITIONS OF DIRECTOR, GENERAL MANAGER OR EXECUTIVES WITH THE HIERARCHY IMMEDIATELY

INFERIOR TO THAT OF THE GENERAL MANAGER AND COMMISSIONER OF CREDIT UNIONS

Name of the credit union

Date of preparation (dd/mm/yyyy)

This information is part of the request presented before the National Banking and Securities Commission,

its content is confidential and may be subject to review and verification.

Filling Instructions.

This format must be filled out by:

Directors.

General manager.

Executives who hold positions with the hierarchy immediately inferior to that of the General Manager.

Commissioners.

No spaces should be left blank, in any case mention: None, No, I do not have, Not

applicable.

All names and data required must be presented in full (e.g., persons with two

names).

SECTION 1.

Personal identification data.

Name(s).

Paternal surname.

Maternal surname.

Nationality.

CURP.

RFC (with homoclave).

Address for hearing and receiving notifications.

Street and exterior and/or interior number.

Neighborhood.

Delegation or Municipality.

Federal Entity.

Postal code.

Country.

Marital status.

Name of spouse or

concubine (s).

Name of relatives in straight

line ascending and descending up to the second degree.

SECTION 2.

Participation of the person in the credit union.

Position.

President of the board of directors.

Owner director.

Independent:

Yes

Alternate director.

Independent:

Yes

Secretary of the board of directors.

General manager.

Finance director.

Legal director.

Commercial director.

Others (s).

Specify:

SECTION 3.

Academic experience

Institution

Date

Degree

SECTION 4.

Professional experience (5 previous jobs)

Institution

Period

Position

SECTION 5.

Additional information.

If you consider that there is any other relevant information not contemplated in the previous sections, you must list the information and comment on it in the following box.

Section.

Information.

SECTION 6.

Declarations and signatures.

By this document, the undersigned authorizes the National Banking and Securities Commission, regarding

the information provided here, to:

Verify it as it deems pertinent, as well as obtain from any other authority it deems

convenient information about my person, in connection with the authorization request

presented before that Commission.

Share it on a confidential basis with the National Insurance and Sureties Commission, the

National Retirement Savings System Commission, the Bank of Mexico, the Tax

Administration Service, the Attorney General's Office and other authorities, for the

exclusive fulfillment of their functions.

I confirm that I have read and filled out this format carefully, such that I understand its content

and legal implications.

I understand that providing false data will be grounds for exclusion of the undersigned, without prejudice to the

criminal or legal sanctions that may apply according to the case.

I DECLARE UNDER OATH THAT THE DATA CONTAINED

IN THIS

DECLARATION ARE TRUE.

Signature of the person or legal representative

NAME.

DATE.

SECTION 7.

Documents that must accompany this application.

Copy of valid official identification (voter ID or passport and in the case of persons

of foreign nationality, migratory document or passport).

Copy of the tax identification card.

Copy of the CURP, of the natural person and/or of the legal representative of the legal entity in

question.

ANNEX 29

PROTEST LETTER FORMATS FOR PERSONS PROPOSED TO OCCUPY

THE POSITIONS

OF DIRECTOR, GENERAL MANAGER OR EXECUTIVES WITH THE HIERARCHY IMMEDIATELY INFERIOR TO

THAT OF THE GENERAL MANAGER AND COMMISSIONER OF CREDIT UNIONS

PERSONS PROPOSED AS DIRECTORS OF CREDIT UNIONS.

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and in relation to the

authorization request presented before that Commission for the organization and operation of the credit

union to be named (___________________), in which I would be proposed to serve as

Director, by means of this I declare UNDER OATH THAT I SPEAK THE TRUTH:

That I do not fall under any of the following circumstances established in Article 26 of the Law

of Credit Unions, as an impediment to being a director of a credit union:

Being an executive or employee of the credit union (with the exception of the general manager).

II.

Being spouse, concubine or concubine of any of the directors. Likewise, not

having kinship by cognatic or affinal relationship up to the second degree, or civil, with more than

two directors.

III.

Being an executive or employee of companies in which one or more directors of the

credit union are shareholders.

IV.

Having a pending lawsuit with any of the persons requesting authorization for the

organization and operation of the credit union.

Having been sentenced for intentional patrimonial crimes; disqualified from exercising

commerce or from holding an employment, position, or commission in public service, or in the

Mexican financial system.

VI.

Having been declared bankrupt or in insolvency proceedings.

VII.

Carrying out supervision or regulation functions of any credit union.

That I do not fall under any of the restriction or incompatibility circumstances provided

in the applicable legislation.

That I do not have a conflict of interest or interest opposed to that of the persons requesting authorization

for the organization and operation of the referred credit union.

That I am up to date with my credit obligations of any kind, which I

accredit with the reports of two credit information societies attached to the

present, with an issuance date not greater than three months prior to the date of the present.

That I know the rights and obligations I would assume upon accepting the appointment of

Director of the credit union to be named (___________________) and that I have the

necessary experience to perform said position.

That I am or have been subject or party before common or federal jurisdiction courts,

criminal investigations, as well as any other procedure that by its relevance

must be declared by the applicant, which are indicated below: (1)

Type of

procedure

Body before which

the procedure is

carried out

Capacity in which

I intervened

Status of the

procedure,

including start date and, if

any, conclusion

Sense of the

definitive resolution,

if applicable

Respectfully,

(NAME AND SIGNATURE).

Annexes.- Special credit reports issued by two credit information societies, with an issuance date

not greater than three months prior to the date of the application.

II.

PERSONS PROPOSED TO OCCUPY THE POSITION OF GENERAL MANAGER OR

EXECUTIVES WITH THE HIERARCHY IMMEDIATELY INFERIOR TO THAT OF THE GENERAL MANAGER OF

CREDIT UNIONS.

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and in relation to the

authorization request presented before that Commission for the organization and operation of the credit

union to be named (___________________), in which I would be proposed to serve as

(position that corresponds), by means of this I declare UNDER OATH THAT I SPEAK THE TRUTH:

That I reside in Mexican territory.

That I have provided at least five years of my services in high-level decision-making positions, whose

performance required knowledge and experience in financial and administrative matters.

That I do not fall under any of the following circumstances established in Article 26 of the Law

of Credit Unions, as an impediment to being a high-level executive of a credit

union:

Having a pending lawsuit with any of the persons requesting authorization for the

organization and operation of the credit union in question.

II.

Having been sentenced for intentional patrimonial crimes; disqualified from exercising

commerce or from holding an employment, position, or commission in public service, or in the

Mexican financial system.

III.

Having been declared bankrupt or in insolvency proceedings.

IV.

Carrying out supervision or regulation functions of credit unions.

That I do not fall under any of the restriction or incompatibility scenarios provided for in the applicable legislation.

That I have no conflict of interest or interest opposed to that of the persons requesting authorization for the organization and operation of the referred credit union.

That I am up to date with my credit obligations of any kind, which I evidence with reports from two credit information societies attached to the present, issued no more than three months prior to the date of the present.

That I know the rights and obligations I would assume upon accepting the appointment of (corresponding position) of the credit union to be named (___________________) and that I have the necessary experience to perform said position.

That I am or have been a subject or party before common or federal jurisdictional tribunals, criminal investigations, as well as any other procedure that by its relevance must be declared by the applicant, which are indicated below: (2)

Type of procedure	Body before which the procedure is carried out	Capacity in which I intervened	Status of the procedure, including start date and, if applicable, conclusion	Sense of the final resolution, if any

Sincerely,

(NAME AND SIGNATURE).

Annexes.-

Special credit reports issued by two credit information societies, with an issue date no more than three months prior to the date of the request.

III.

PERSONS PROPOSED TO OCCUPY THE POSITION OF COMMISSIONER OF CREDIT UNIONS

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, (name of the person signing), by my own right and in relation to the authorization request presented before this Commission for the organization and operation of the credit union to be named (___________________), in which I would be proposed to serve as Commissioner, by means of this document I declare UNDER OATH OF TRUTH:

That I reside in Mexican territory.

That I do not have pending litigation with any of the persons requesting authorization for the organization and operation of the credit union in question.

That I have not been sentenced for intentional property crimes; nor disqualified from exercising commerce or from holding an employment, position, or commission in the public service, or in the Mexican financial system.

That I do not fall under any of the restriction or incompatibility scenarios provided for in the applicable legislation.

That I have no conflict of interest or interest opposed to that of the persons requesting authorization for the organization and operation of the referred credit union.

That I know the rights and obligations I would assume upon accepting the appointment as commissioner of the credit union to be named (___________________) and that I have the necessary experience to perform said position.

Type of procedure	Body before which the procedure is carried out	Capacity in which I intervened	Status of the procedure, including start date and, if applicable, conclusion	Sense of the final resolution, if any

Sincerely,

(NAME AND SIGNATURE).

Annexes.-

Special credit reports issued by two credit information societies, with an issue date no more than three months prior to the date of the request.

ANNEX 30

DOCUMENTATION AND INFORMATION THAT CREDIT UNIONS MUST INCLUDE IN CREDIT FILES WHOSE BALANCE AT THE TIME OF GRANTING IS LESS THAN AN AMOUNT EQUIVALENT IN NATIONAL CURRENCY TO FOUR MILLION UDIs

Regarding credits for amounts equal to or less than the equivalent in national currency to twenty-five thousand UDIs:

For the celebration of the credit operation

Documentation that evidences having requested a Credit Information Report from the credit applicant and, if applicable, from the joint obligor, guarantor, or surety, prior to its granting, as well as the reports issued by the credit information societies updated in accordance with the applicable provisions in matters of portfolio qualification.

Credit authorizations.

Credit study that may be parametric, in which the borrower or guarantor is analyzed, when the latter is considered in the credit qualification process, adjusting in all cases to what is provided for in Article 51 of the Law.

Credit, factoring, Discount, or Assignment of Credit Rights Operations contracts with which the same has been documented, including, when the nature of the credit requires it, the registration of the contract in the Public Property or Commerce Registry.

Regarding legal entities, information that provides evidence of the volume of operations, financial situation, payment capacity, or transactions of the borrower, such as bank statements and, if applicable, of the corresponding guarantor, joint obligor, or surety, with the autograph signature of the legal representative or attorney.

Regarding natural persons, a property list or any other information that provides evidence of their financial situation or payment capacity, such as bank statements and, if applicable, of the joint obligor, guarantor, or surety.

Identification of the borrower and their guarantors

Regarding natural persons, a copy of the official identification (passport, voter credential, or professional ID), as well as, if applicable, a copy of the official identification of their guarantors, joint obligors, or sureties when these are natural persons.

Likewise, the Unique Population Registry Key of the persons mentioned in the previous paragraph must be included.

In the case of legal entities, a copy of the documentation that evidences that they are legally constituted persons, such as notarial deeds or public broker policies of constitutive deeds or compulsated to the date of granting, of the borrower or guarantor, if applicable, duly registered in the Public Commerce Registry or its equivalent according to the country where they operate.

Evidence that the person(s) who sign(s) the credit contract(s) or titles have the legal faculties to do so.

Follow-up

Updated information that allows appreciating the borrower's behavior in fulfilling their credit obligations with the credit union, such as disbursements, payments made, renewals, restructurings, discounts, adjudications, or dations in payment, as well as any other that supports the qualification granted to the credit in question.

Reports of site visits in accordance with the credit union's policies, if applicable.

Guarantees

Certificates or verification of the existence or non-existence of encumbrances on the guarantees, limitations of ownership, or preventive annotations, as well as certificate or verification of the registration of the guarantees before the Public Property or Commerce Registry, if applicable.

Insurance policies for the guarantees in favor of the credit union, when by the nature of the goods and in accordance with the credit union's regulations the contracting of an insurance is required.

Credits in judicial collection

Periodic and updated information, in accordance with the credit union's policies, of the person responsible for the judicial or extrajudicial collection of the credit.

Information that evidences the settlement of debts (dation in payment, adjudications of guarantees, and discounts).

Restructured credits

Studies that demonstrate the payment capacity of the debt or the establishment of better credit conditions, such as the granting of additional guarantees, adjusting to what is provided for in Article 51 of the Law.

Authorization of the restructuring or judicial agreement, discounts, and losses in accordance with the credit union's regulations or, if applicable, the necessary information in accordance with the applicable institutional programs.

Restructuring contracts or judicial agreements or promissory notes, if applicable, including registration in the Public Property or Commerce Registry when required.

Written-off credits

Information that evidences that the different recovery instances have been exhausted or, if applicable, the necessary information in accordance with the institutional policies in this matter.

Information through which the corresponding instances request the application of the credit.

Necessary to exercise the collection action

Credit contracts or promissory notes with which the same has been documented.

II.

Regarding credits for amounts greater than the equivalent in national currency to twenty-five thousand UDIs and equal to or less than 2 million UDIs:

For the celebration of the credit operation

Credit authorizations.

Credit study that may be parametric, in which the borrower or guarantor is analyzed, when the latter is considered in the credit qualification process, adjusting to what is provided for in Article 51 of the Law.

If applicable, information that evidences compliance with what is provided in Articles 61 and 62 of the Law.

Regarding legal entities, internal financial statements at the close of the immediately preceding fiscal year, as well as the financial statements corresponding to the current fiscal year with a closing date no older than six months, or other information that provides evidence of the volume of operations, financial situation, payment capacity, or transactions of the borrower, such as bank statements and, if applicable, of the corresponding guarantor, joint obligor, or surety, with the autograph signature of the legal representative or attorney.

Regarding natural persons:

Annual tax returns corresponding to the last two fiscal years of the borrower, or

ii)

Bank statements of at least the last twelve months.

In their absence, a property list must be included.

If applicable, the information indicated in this item 6 must be included regarding the joint obligor, guarantor, or surety.

Identification of the borrower and their guarantors

Likewise, the Unique Population Registry Key of the persons mentioned in the previous paragraph must be included.

Evidence that the person(s) who sign(s) the credit contract(s) or titles have the legal faculties to do so.

Legal opinion that validates the information mentioned in points 2 and 3 above.

Follow-up

Reports of site visits in accordance with the credit union's policies, if applicable.

Annual update of the Credit Information Report of the credit applicant and, if applicable, of the joint obligor, guarantor, or surety.

Guarantees

Updated appraisals in accordance with the credit union's policies of the goods that guarantee the debt, and carried out in accordance with the general provisions established by the Commission, if applicable.

Insurance policies for the guarantees in favor of the credit union, when by the nature of the goods and in accordance with the credit union's regulations the contracting of an insurance is required.

Reports from the credit union of the site visit for the verification of the existence of the guarantees, if applicable. These reports must contain the name, position, and signature of the responsible official.

Information on those guarantees coming from securities and other financial instruments and movable goods that are deposited in general warehouses or regarding which the credit union has ownership.

Credits in judicial collection

Periodic and updated information, in accordance with the credit union's policies, of the person responsible for the judicial or extrajudicial collection of the credit.

Information that evidences the settlement of debts (dation in payment, adjudications of guarantees, and discounts).

Restructured credits

Restructuring contracts or judicial agreements or promissory notes, if applicable, including registration in the Public Property or Commerce Registry when required.

Written-off credits

Information that evidences that the different recovery instances have been exhausted or, if applicable, the necessary information in accordance with the institutional policies in this matter.

Information through which the corresponding instances request the application of the credit.

Necessary to exercise the collection action

Credit contracts or promissory notes with which the same has been documented.

III.

Regarding credits for amounts greater than the equivalent in national currency to 2 million UDIs and less than 4 million UDIs:

For the celebration of the credit operation

Credit authorizations.

If applicable, information that evidences compliance with what is provided in Articles 61 and 62 of the Law.

Regarding legal entities, internal financial statements at the close of the last two complete fiscal years or other information that provides evidence of the volume of operations, financial situation, payment capacity, or transactions of the borrower, such as bank statements and, if applicable, of the corresponding guarantor, joint obligor, or surety, with the autograph signature of the legal representative or attorney.

Regarding natural persons:

Annual tax returns corresponding to the last two fiscal years of the borrower, or

ii)

Bank statements of at least the last twelve months.

If applicable, the information indicated in this item 6 must be included regarding the joint obligor, guarantor, or surety.

Cash flow of the borrower for the term of the credit, or projections thereof.

Identification of the borrower and their guarantors

Likewise, the Unique Population Registry Key of the persons mentioned in the previous paragraph must be included.

Evidence that the person(s) who sign(s) the credit contract(s) or titles have the legal faculties to do so.

Legal opinion that validates the information mentioned in points 2 and 3 above.

Follow-up

Information that allows appreciating the borrower's behavior in fulfilling their credit obligations with the credit union, such as disbursements, payments made, renewals, restructurings, discounts, adjudications, or dations in payment, as well as any other that supports the qualification granted to the credit in question.

Annual update of the Credit Information Report of the credit applicant and, if applicable, of the joint obligor, guarantor, or surety.

The site visit reports, in accordance with the credit union's policies or the respective contract, if applicable.

Guarantees

Certificates or verification of the existence or non-existence of encumbrances on the guarantees, limitations of ownership, or preventive annotations; as well as certificate or verification of the registration of the guarantees before the Public Property or Commerce Registry, if applicable.

Insurance policies for the guarantees in favor of the credit union, when by the nature of the goods and in accordance with the credit union's regulations the contracting of an insurance is required.

Information on those guarantees coming from securities and other financial instruments and movable goods that are deposited in general warehouses or regarding which the credit union has ownership.

Credits in judicial collection

Periodic and updated information in accordance with the credit union's policies, of the person responsible for the judicial or extrajudicial collection of the credit.

Information that evidences the settlement of debts (dation in payment, adjudications of guarantees, and discounts).

Restructured credits

Feasibility studies of the restructuring, adjusting to what is provided for in Article 51 of the Law.

Restructuring contracts or judicial agreements or promissory notes, if applicable, including registration in the Public Property or Commerce Registry when required.

Written-off credits

Information that evidences that the different recovery instances have been exhausted or, if applicable, the necessary information in accordance with the institutional policies in this matter.

Information through which the corresponding instances request the application of the credit.

Necessary to exercise the collection action

Credit contracts or promissory notes with which the same has been documented.

Regarding factoring, Discount, or Assignment of Credit Rights Operations, the documentation and information referred to in this annex must correspond to the person on whom the credit risk falls, whether the debtor of the transmitted credit rights, or the factored, discounted, or assignor. Additionally, with respect to these operations, the following documentation and information must be included in the file:

The document in which the credit right is recorded, as necessary documentation to exercise the collection action referred to in subsection h of fractions I to III above.

If applicable, the contract that formalizes the operations between the provider of the goods or services or factor, discounter, or assignor and the debtor of the transmitted credit rights;

In the case of Assignment of Credit Rights Operations, the payment scheme that allows the total recovery of the amount paid to the assignor of the credit rights;

Evidence that the assigned document in favor of the credit union is recognized by the debtor of the transmitted credit rights.

The express authorization of the factor, discounter, or assignor or of the debtor of the transmitted credit rights, to perform the consultation of their credit history with any

credit information company, as applicable.

ANNEX 31

DOCUMENTATION AND INFORMATION THAT CREDIT UNIONS MUST INCLUDE IN CREDIT FILES FOR WHICH THE BALANCE AT THE TIME OF GRANTING IS EQUAL TO OR GREATER THAN AN AMOUNT EQUIVALENT IN NATIONAL CURRENCY TO FOUR MILLION UDIS

For the celebration of the credit operation

Credit application duly filled out and signed, either manually or electronically.

Documentation accrediting that a Credit Information Report of the credit applicant and, where applicable, of the joint obligor, guarantor, or surety was requested prior to granting, as well as the reports issued by credit information companies updated in accordance with the applicable provisions in matters of portfolio rating.

Credit studies analyzing the borrower or guarantor, when the latter is considered in the credit rating process, adjusted to what is provided in Article 51 of the Law.

Credit authorizations.

Where applicable, information evidencing compliance with the provisions of Articles 61 and 62 of the Law.

Credit contracts, factoring, Discount, or Credit Rights Cession Operations with which the same has been documented, including, when the nature of the credit requires it, the registration of the contract in the Public Property or Commerce Registry.

In the case of legal entities, internal financial statements at the close of the last two complete fiscal years or other information that provides evidence of the volume of operations, financial situation, payment capacity, or transactions of the borrower, such as bank statements and, where applicable, of the corresponding joint obligor, guarantor, or surety, with the manual signature of the legal representative or attorney-in-fact.

In the case of natural persons:

Annual tax returns corresponding to the last two fiscal years of the borrower, or

ii)

Bank statements for at least the last twelve months.

Where applicable, the information indicated in this subsection 7 must be included regarding the joint obligor, guarantor, or surety.

Cash flow of the borrower for the term of the credit, or cash flow projections, where applicable.

Identification of the borrower and its guarantors

Copy of the official identification of the borrower (passport, voter ID card, or professional ID card) of its guarantors, joint obligors, or sureties when these are natural persons.

Likewise, the Unique Population Registry Key of the persons mentioned in the previous paragraph must be included.

In the case of legal entities, a copy of the documentation accrediting that they are legally constituted entities, such as notarial deeds or public broker policies of constitutive deeds or certified copies as of the date of granting, of the borrower or guarantor, where applicable, duly registered in the Public Commerce Registry or its equivalent according to the country where they operate.

Evidence that the person(s) signing the credit contract(s) or titles have the legal authority to do so.

Legal opinion validating the information mentioned in points 2 and 3 above.

Follow-up

Rating cards of the last four quarters.

Information allowing the evaluation of the borrower's financial situation for credit rating purposes and in accordance with the credit union's internal policies, such as:

In the case of legal entities, internal financial statements of the borrower and, where applicable, of the guarantor, with the manual signature of the legal representative or attorney-in-fact.

ii)

In the case of natural persons:

Annual tax returns corresponding to the last two fiscal years of the borrower, or
Bank statements for at least the last twelve months.

In default thereof, a statement of financial position must be included.

Where applicable, the information indicated in this sub-clause ii) must be included regarding the joint obligor, guarantor, or surety.

Information allowing the appreciation of the borrower's behavior in fulfilling its credit obligations with the credit union, such as disbursements, payments made, renewals, restructurings, haircuts, adjudications, or dations in payment, as well as any other information supporting the rating granted to the credit in question.

Annual update of the Credit Information Report of the credit applicant and, where applicable, of the joint obligor, guarantor, or surety.

Follow-up reports on conditions to do and not to do, where applicable.

On-site visit reports, in compliance with the union's policies or the respective contract, where applicable.

Guarantees

Updated appraisals, in accordance with the credit union's policies, of the assets securing the debt, and carried out in accordance with the general provisions established by the Commission, where applicable.

Certificates or verification of existence or non-existence of liens on the guarantees, limitations of ownership, or preventive annotations; as well as certificate or verification of registration of the guarantees before the Public Property or Commerce Registry, where applicable.

Credit union reports of the on-site visit for the verification of the existence of the guarantees, where applicable. Such reports must contain the name, position, and signature of the responsible official.

Insurance policies for the guarantees in favor of the credit union, when the nature of the assets and in accordance with the credit union's regulations requires the contracting of insurance.

Information regarding those guarantees coming from securities and other financial instruments and movable assets that are deposited in general warehouse deposits or regarding which the credit union has ownership.

Credits in judicial collection

Periodic and updated information in accordance with credit union policies, of the person responsible for the judicial or extrajudicial collection of the credit.

Information accrediting the settlement of debts (dation in payment, adjudication of guarantees, and haircuts).

Restructured credits

Feasibility studies of the restructuring, adjusted to what is provided in Article 51 of the Law.

Authorization of the restructuring or judicial agreement, haircuts, and losses in accordance with the credit union's regulations or, where applicable, the necessary information in accordance with the applicable institutional programs.

Restructuring contracts or judicial agreements or promissory notes, where applicable, including registration in the Public Property or Commerce Registry when required.

Charged-off credits

Information accrediting that the different instances of recovery have been exhausted or, where applicable, the necessary information in accordance with institutional policies in this matter.

Information through which the corresponding instances request the application of the credit.

Necessary to exercise the collection action

Credit contracts or promissory notes with which the same has been documented.

Document stating the credit right in the case of factoring, Discount, or Credit Rights Cession Operations.

In the case of factoring, Discount, or Credit Rights Cession Operations, the documentation and information referred to in this annex must correspond to the person on whom the credit risk falls. Additionally, regarding these operations, the following documentation and information must be included in the file:

Where applicable, the contract formalizing the operations between the provider of the goods or services and the debtor of the transmitted credit rights.

In the case of Credit Rights Cession Operations, the payment scheme allowing the total recovery of the amount paid to the assignor of the credit rights.

Evidence that the assigned document in favor of the credit union is recognized by the debtor of the transmitted credit rights. This documentation will not be required from credit unions that carry out their factoring operations through the platforms referred to in Article 86 Bis 12 of these provisions.

The express authorization of the factor, discounter, or assignor, or of the debtor of the transmitted credit rights, to consult their Credit Information Report, as applicable.

ANNEX 32

DOCUMENTATION AND INFORMATION THAT MUST BE INCLUDED IN THE FILES OF CREDIT OPERATIONS IN WHICH THE DEBTOR, BORROWER, OR COUNTERPARTY OF THE CREDIT UNIONS ARE OTHER FINANCIAL ENTITIES, WHEN THE TRANSACTIONS ARE CONCLUDED UNDER MASTER CONTRACTS, SUCH AS REPOS, LOANS, FINANCIAL DERIVATIVES, OR CURRENCIES

For the celebration of operations

Copy of the legal documents of the financial entity such as: constitutive minutes or deeds of grant of powers in favor of the person(s) signing the contract.

Copy of the respective master contracts and, where applicable, of the additional documentation necessary to ensure its execution and documentation of the treatment of the operation according to its nature.

Where applicable, the authorization of lines to operate with the counterparty and type of operation in question or collateralization schemes used.

Follow-up

Credit unions must have evidence of the exposure per operation for the counterparty in question, as well as information on the guarantees related to each operation.

Necessary to exercise the collection action

Copy of the respective master contracts, as well as the additional documentation related to the confirmation of individual operations under the contract.

ANNEX 33

MINIMUM OPERATIONAL AND SECURITY GUIDELINES FOR THE CONTRACTING OF TECHNOLOGICAL SUPPORT SERVICES PROVIDED BY SERVICE COMPANIES TO CREDIT UNIONS

Credit unions must consider the following aspects:

Operational matters.

Redundancy schemes or alternate mechanisms in point-to-point telecommunications that allow for communication links that minimize the risk of interruption in the telecommunications service.

Continuity strategy in the computer services provided to the credit union, giving it the capacity to process and operate systems in the event of contingency, failures, or interruptions in telecommunications or central computer equipment and others involved in the information processing service of operations or services.

Mechanisms to establish and monitor quality in information services, as well as system and application response times.

Technical support scheme, in order to solve problems and incidents, independently, where applicable, of differences in time zones and business days.

Mechanisms allowing the credit union to maintain on its premises detailed records of all operations current at the daily close (own and third-party) of the different products supported by the service contracted with a third party, as well as its accounting records. Such records must be maintained in a format allowing their consultation and use, even when the service contracted with the third party is not available.

II.

Security matters.

Measures to ensure the transmission of Sensitive Information in encrypted point-to-point form and security elements or controls at each of the nodes involved in the sending and receiving of data.

Establishment of functions of the information security officer. For the purposes that the contracting credit union remains fully informed of the access and use of information, it must designate a person to serve as the information security officer in the credit union, who will have independence with respect to operational, audit, and systems areas, and whose function will consist, among other things, in administering and authorizing accesses. Such accesses must correspond to the need to know the information according to the documented functions of the position.

Likewise, the information security officer must always have records of all personnel having access to information related to the credit union's operations, including that located outside national territory, in which case the personnel authorized to access such information must be authorized by the officer of internal control functions indicated in fraction V of Article 127 of these provisions.

Scheme by which the access log to information by duly authorized personnel will be maintained in an office of the contracting credit union.

III.

Audit and Supervision.

Policies and procedures regarding the carrying out of internal or external audits on the infrastructure, controls, and operation of the third party's computer center, related to the production environment for the credit union, at least once every two years in order to evaluate compliance with what is mentioned in this annex.

Means with which the credit union will have access to and use of the services or systems contracted with third parties from its premises in national territory.

ANNEX 34

RATING AND RISK GRADE MAPPING

Long-Term Rating and Risk Grade Correspondence Table

Risk Grades

Standard

Method

Recognized Rating Scales

Global Scale

Risk Weighter

Local Mexico Scale

Risk Weighter

S&P

MOODY'S

FITCH

RATINGS

Group II

Group III

Group VII

S&P

MOODY'S

FITCH

RATINGS

VERUM

Group II

Group

III

Group

VII

AAA

AA+

AA-

Aaa

Aa1

Aa2

Aa3

AAA

AA+

AA-

HR AAA (G)

HR AA+ (G)

HR AA (G)

HR AA- (G)

20%

A+

A-

A+

A-

HR A+ (G)

HR A (G)

HR A- (G)

20%

50%

mxAAA

Aaa.mx

AAA (mex)

HR AAA

AAA/M

20%

BBB+

BBB

BBB-

Baa1

Baa2

Baa3

BBB+

BBB

BBB-

HR BBB+ (G)

HR BBB (G)

HR BBB- (G)

50%

20%

100%

mxAA+

mxAA

mxAA-

Aa1.mx

Aa2.mx

Aa3.mx

AA+ (mex)

AA (mex)

AA- (mex)

HR AA+

HR AA

HR AA-

AA+/M

AA/M

AA-/M

50%

20%

50%

BB+

BB-

Ba1

Ba2

Ba3

BB+

BB-

HR BB+ (G)

HR BB (G)

HR BB- (G)

100%

mxA+

mxA

mxA-

A1.mx

A2.mx

A3.mx

A+ (mex)

A (mex)

A- (mex)

HR A+

HR A

HR A-

A+/M

A/M

A-/M

100%

20%

100%

mxBBB+

mxBBB

mxBBB-

Baa1.mx

Baa2.mx

Baa3.mx

BBB+ (mex)

BBB (mex)

BBB- (mex)

HR BBB+

HR BBB

HR BBB-

BBB+/M

BBB/M

BBB-/M

B+

B-

B+

B-

HR B+ (G)

HR B (G)

HR B- (G)

100%

150%

mxB+

mxB

mxB-

Ba1.mx

Ba2.mx

Ba3.mx

BB+ (mex)

BB (mex)

BB- (mex)

HR BB+

HR BB

HR BB-

BB+/M

BB/M

BB-/M

100%

CCC

and lower

Caa

and lower

CCC

and lower

HR C+ (G)

HR C (G)

HR C- (G)

and lower

150%

mxB+

mxB

mxB-

mxCCC

mxCC

and lower

B1.mx

B2.mx

B3.mx

Caa1.mx

Caa2.mx

Caa3.mx

Ca.mx

C.mx

and lower

B+ (mex)

B (mex)

B- (mex)

CCC (mex)

CC (mex)

C (mex)

and lower

HR B+

HR B

HR B-

HR C+

HR C

HR C-

and lower

B+/M

B/M

B-/M

C/M

D/M

and lower

150%

Not

Rated

100%

Short-Term Rating and Risk Grade Correspondence Table

Short-Term Risk Grades

Standard

Method

Recognized Rating Scales

Risk Weighter

Global Scale

Local Mexico Scale

S&P

MOODY'S

FITCH

RATINGS

S&P

MOODY'S

FITCH

RATINGS

VERUM

A-1+

A-1

P-1

F1+

HR+1 (G)

HR1 (G)

mxA-1+

mxA-1

MX-1

F1+(mex)

F1 (mex)

HR+1

HR1

1+/M

1/M

20%

A-2

P-2

HR2 (G)

mxA-2

MX-2

F2 (mex)

HR2

2/M

50%

A-3

P-3

HR3 (G)

mxA-3

MX-3

F3 (mex)

HR3

3/M

100%

HR4 (G)

mxB

B (mex)

HR4

4/M

120%

HR5 (G)

mxC and

lower

MX-4 and

lower

C (mex) and

lower

HR5 and

lower

D/M and

lower

150%

Unclassified short-term credits will be weighted at 100%.

Only applies in the case where the signatory has been a subject or party to any process before common or federal jurisdictional courts, criminal investigations, as well as any other that by its relevance must be declared by the applicant. Otherwise, the fields must be filled with "N/A".

Otherwise, the fields must be filled with "N/A".

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