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

DOF: 25/07/2025

RESOLUTION that modifies the General Provisions applicable to popular savings and credit entities, integration organizations, community financial societies, and rural financial integration organizations, referred to in the Popular Savings and Credit Law.

A seal with the National Coat of Arms appears on the margin, which states: United Mexican States.- Treasury.- Secretariat of Treasury and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on what is provided in articles 116, first paragraph, fraction XI; 117 and 118, second paragraph of the Popular Savings and Credit Law; 4, fractions II, III, V, XXXVI and XXXVIII and 16, fraction I of the Law of the National Banking and Securities Commission; as well as 98 Bis of the Credit Institutions Law, and

CONSIDERING

That, in accordance with article 78 of the General Law for Regulatory Improvement and with the aim of reducing the cost of compliance of this modifying resolution, the National Banking and Securities Commission through the issuance of the "Resolution that modifies the General Provisions applicable to credit institutions" and the "Resolution that modifies the General Provisions applicable to credit institutions" published in the Official Gazette of the Federation on July 23, 2021 and June 14 2024, respectively, recognized the methodology for estimating preventive reserves and portfolio rating, the lower risk incurred by credit institutions when granting loans to women, adjusting the parameters of probability of default and severity of loss that are taken into account for the rating of the credit portfolio and the calculation of preventive reserves for risks credit risks of non-revolving consumer credit portfolios and housing mortgage portfolios granted to women, and strengthened the internal control of credit institutions in matters of prevention, detection and timely response to observable conduct for fraud management;

That, it is necessary to make adjustments to the regulations applicable to popular financial societies regarding special accounting criteria and special accounting records, with the object of providing legal certainty regarding natural phenomena that trigger the assumption for their authorization and the requirements that must be met to demonstrate adverse impact on the solvency or liquidity of those societies and, in its case, on the stability of the financial system as a whole, or when such societies are carrying out financial rehabilitation processes or corporate restructuring;

That, in that sense, and in order to provide better elements to popular financial societies, it establishes the information they must present to obtain authorization and application of said special accounting criteria and special accounting records, which will result in benefit for the stability of the financial system as a whole, and at the same time allow the National Banking and Securities Commission to exercise better its powers of authorization and supervision; therefore it has resolved to issue the following:

RESOLUTION THAT MODIFIES THE GENERAL PROVISIONS APPLICABLE TO POPULAR SAVINGS AND CREDIT ENTITIES, INTEGRATION ORGANIZATIONS, COMMUNITY FINANCIAL SOCIETIES AND RURAL FINANCIAL INTEGRATION ORGANIZATIONS, TO WHICH THE POPULAR SAVINGS AND CREDIT LAW REFERS

UNIQUE.- Articles 210 Bis; 210 Bis 1; 210 Bis 2; 210 Bis 3 are ADDED; Article 212, first paragraph, first fraction, second paragraph is REFORMED; Article 211 is DEROGATED from the "General Provisions applicable to popular savings and credit entities, integration organizations, community financial societies and rural financial integration organizations, referred to in the popular savings and credit law", published in the Official Gazette of the Federation on December 18, 2006, and modified by resolutions published in the aforementioned dissemination medium, to read as follows:

" Article 210 Bis .- Popular Financial Societies shall keep their accounting in accordance with the Accounting Criteria attached to these provisions as Annex E, which are divided into the series and criteria indicated below:

Series A. Criteria relating to the general scheme of accounting for Popular Financial Societies, Community Financial Societies and Rural Financial Integration Organizations. A-1. Basic scheme of the set of Accounting Criteria applicable to Popular Financial Societies Popular Financial Societies, Community Financial Societies and Rural Financial Integration Organizations. A-2. Application of particular rules. A-3. Application of general rules. A-4. Supplementary application to Accounting Criteria.

Series B. Criteria relating to the concepts that make up the financial statements. B-1 Availability. B-2 Investments in securities. B-3 Repurchase agreements. B-4 Credit portfolio. B-5 Adjudicated assets. B-6 Guarantees. B-7 Custody and administration of assets. B-8 Trusts.

Series C. Criteria applicable to specific concepts. C-1 Recognition and derecognition of financial assets. C-2 Related parties.

Series D. Criteria relating to basic financial statements. D-1 Balance sheet. D-2 Statement of results. D-3 Statement of changes in equity. D-4 Statement of cash flows.

Article 210 Bis 1 .- The Commission may authorize Popular Financial Societies special accounting criteria on a temporary basis regarding the application of the accounting criteria contained in Annex E of these provisions, when competent authorities issue declarations of emergency or natural disaster upon the occurrence of disturbing natural phenomena that generate impacts on the economy that, in the opinion of the Commission, could cause an adverse impact on the solvency or liquidity of two or more Popular Financial Societies and, in its case, on the stability of the financial system.

For the purposes of the foregoing, disturbing natural phenomenon shall be understood as referred to in the General Law for Civil Protection or the one that replaces it.

To obtain authorization for the application of special accounting criteria, the following must be sent to the Commission at least:

I. Detailed description of the special accounting criteria requested, as well as the period and area geographic scope of application. II. Detailed narrative of the economic impacts caused or estimated to be caused by the disturbing natural phenomenon. III. Estimation of the impact that the economic impacts could have on the indicators of solvency, liquidity, and those related to the application of the special accounting criteria of the affected Popular Financial Societies and, in its case, the impact on the stability of the financial system. IV. Explanation of how the special accounting criteria will help reduce or prevent the impacts referred to in the previous fractions.

The authorization request must be sent in free format, signed by the legal representative of the Popular Financial Societies, accompanied by documents proving their personality, or in its case, signed by the legal representative of self-regulatory organizations recognized by the Commission or of any guild representation body.

Until the Commission authorizes the application of special accounting criteria, the Popular Financial Societies must continue using the accounting criteria contained in Annex E of these provisions.

The validity for the application of authorized special accounting criteria may be extended once for a period that cannot exceed the originally granted term, when in the opinion of the Commission, the applicants demonstrate that the economic impacts persist at the date of the request for extension.

Article 210 Bis 2.- The Commission may authorize Popular Financial Societies regarding the application of the accounting criteria provided for in Annex E of these provisions, to carry out special accounting records, when in the opinion of the Commission, these are necessary to ensure the stability and proper functioning of Popular Financial Societies during processes of Financial Rehabilitation or Corporate Restructuring, provided that such processes do not derive from non-compliance with the regulatory framework applicable to them and that the Popular Financial Society in question is not applying special accounting records at the date of the request.

The request to obtain authorization for the application of special accounting records must be sent to the Commission in free format, signed by its legal representative, accompanied by documents that prove their personality and must contain at least the following:

I. Detailed description of the special accounting records requested, indicating at least, the items of the financial statements that would be affected, amounts and period for their application. II. Detailed explanation of the causes that have generated the need to carry out the process of Financial Rehabilitation or Corporate Restructuring. III. The solvency, liquidity, capital indicators and those related to the application of the special accounting records, determined at the date of the request, as well as a detailed description of the impacts that said indicators might present in case of not having the requested authorization. IV. The actions and remediation measures that constitute the Financial Rehabilitation or Corporate Restructuring processes required by the Popular Financial Society. V. Evidence that the actions and measures indicated in the request have been approved by the Board of Directors of the requesting Popular Financial Society.

For the purposes of this article, it must be understood by: a) Financial Rehabilitation, the reorganization process to improve the financial situation of a Popular Financial Society that derives from an impact on its solvency, stability or liquidity that puts the continuity of said society at risk. b) Corporate Restructuring, the set of actions that transform the legal structure of a Popular Financial Society and that derive from an impact on its solvency, stability or liquidity that puts its business continuity at risk and that are carried out with the purpose of obtaining an economic effect aimed at its recovery, such as mergers, spin-offs and discontinued operations.

Until the Commission authorizes the application of special accounting records, the Popular Financial Societies must continue using the accounting criteria contained in Annex E of these provisions.

Article 210 Bis 3.- Popular Financial Societies that have obtained authorization from the Commission to apply special accounting criteria or special accounting records, in terms of the articles 210 Bis 1 and 210 Bis 2 respectively, must disclose in the explanatory notes to the annual audited consolidated basic financial statements and quarterly corresponding to the periods in which these are applied and in public communications of financial information, the following:

I. That they have authorization from the Commission to apply special accounting criteria or special accounting records, specifying in its case, the period for which authorization is held for their application. II. The description of the authorized special accounting criteria or special accounting records and how they have been applied, as well as the records that should have been made in accordance with the accounting criteria contained in Annex E of these provisions. III. The amounts that would have been recorded and presented both in the balance sheet and in the statement of results had they not had the authorization to apply the special accounting criteria or special accounting records. IV. The detail of the concepts and amounts for which the accounting impact was made. V. The impact that the application of special accounting criteria or special accounting records generates on the solvency, liquidity, capital indicators and those related to the application of these. VI. The additional information that the Commission determines in the authorization of the special accounting criteria or special accounting records.

Regarding the annual financial statements referred to in this article, the disclosure must be made through a specific note.

The Commission may revoke the special accounting criteria or special accounting records authorized referred to in articles 210 Bis 1 and 210 Bis 2, respectively, when Popular Financial Societies fail to comply with what is provided in any of the fractions I to VI of this article regarding the information to disclose, or with the requirements contained in the special accounting criteria or special accounting records authorized, as the case may be.

In case that applies, Popular Financial Societies to which the Commission has revoked authorization for the application of special accounting criteria, will have the obligation to maintain the agreements they have made with their clients as a consequence of the application of said criteria, prior to the date when revocation is determined.

Article 211.- Derogated."

" Article 212.-

... I. ... Popular Financial Societies must prepare their basic financial statements in conformity with the Accounting Criteria referred to in article 210 Bis, or those that replace them.

... ... II. to IX. ... "

TRANSITIONAL

UNIQUE.- This Resolution will enter into force the day following its publication in the Official Gazette of the Federation.

Respectfully

Mexico City, July 15, 2025. - President of the National Banking and Securities Commission, Dr. Jesús de la Fuente Rodríguez.- Signature.

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