Regulatory Alerts2021-12-15 | DOF 5638361Added · Updated
Resolution modifying the General Provisions applicable to General Warehouses, Exchange Houses, Credit Unions, and Regulated Multiple-Object Financial Companies
The National Banking and Securities Commission amends the accounting criteria for general warehouses, exchange houses, credit unions, and regulated multiple-object financial companies to require the use of the closing daily exchange rate published by the Bank of Mexico for converting foreign currency balances and cash flows in financial statements. This change replaces the previous requirement to use the FIX (Fixed Exchange Rate) to ensure consistency between financial reporting and treasury operations, specifically addressing discrepancies arising from the time difference between FIX determination and the end of the business day. The amendments apply to specific paragraphs within Annexes 1, 4, 5, and 17 of the General Provisions.
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