Regulatory Alerts2017-07-24 | DOF 5491640Added
Resolution modifying the General Provisions applicable to Popular Savings and Credit Entities, Integration Organizations, Community Financial Societies, and Rural Financial Integration Organizations under the Popular Savings and Credit Law
The resolution amends Annex E, Criterion B-2, of the General Provisions applicable to Popular Savings and Credit Entities, Integration Organizations, Community Financial Societies, and Rural Financial Integration Organizations. It extends the time period during which held-to-maturity securities can be sold or reclassified without losing that classification status and clarifies the requirements for isolated events outside the entities' control. The changes apply prospectively to popular financial societies, requiring them to disclose significant accounting standard changes in their financial statement notes while maintaining previous classifications for investments made before the effective date.
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