Regulatory Alerts2024-04-18 | DOF 5723741Added
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 National Banking and Securities Commission modifies the General Provisions applicable to Popular Savings and Credit Entities, Integration Organizations, Community Financial Societies, and Rural Financial Integration Organizations to align with International Financial Reporting Standards (IFRS 9). The resolution introduces new definitions for credit risk ratings, high investment grade, and probability of default, and mandates the classification of commercial credit portfolios into risk stages based on days past due. It establishes specific provisioning methodologies for consumer, microcredit, housing, and commercial portfolios, and updates prudential regulations and reporting requirements for Popular Financial Societies based on their total asset thresholds.
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