Resolution modifying the General Provisions applicable to the activities of Savings and Loan Cooperative Societies — SHCP — MX

DOF: 12/15/2021

RESOLUTION modifying the General Provisions applicable to the activities of Savings and Loan Cooperative Societies

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- TREASURY.- Ministry of

Treasury and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on articles 32 of the Law to Regulate

the Activities of Savings and Loan Cooperative Societies; 98 Bis of the Credit Institutions Law, as well as 4, fractions III, V, XXXVI and XXXVIII and 16, fraction I of the Law of the National Banking and Securities Commission, and

CONSIDERING

That, in accordance with article 78 of the General Law for Regulatory Improvement and with the purpose of reducing the

compliance cost of this Resolution, the National Banking and Securities Commission through

a resolution published in the Official Gazette of the Federation on December 26, 2017, reformed the

"General Provisions applicable to credit institutions", with the object of granting an

extension to the deadline to which multiple banking institutions were subject to constitute their

operational risk capital requirements;

That, in terms of the current accounting criteria, the National Banking and Securities Commission instructs

the entities subject to its regulation, to use the exchange rate to establish the equivalence of the

national currency with the United States dollar, being the FIX exchange rate (Fixed Exchange

Rate) published by the Bank of Mexico in the Official Gazette of the Federation, a situation that allows maintaining

uniform criteria among said entities;

That the FIX exchange rate is determined by the Bank of Mexico based on an average of

cotizations from the wholesale foreign exchange market for operations settleable on the second following banking business day

and that are obtained from foreign exchange transaction platforms and other electronic means with

representativeness in the foreign exchange market. The Bank of Mexico makes the FIX known starting at 12:00

hours on all banking business days, it is published in the Official Gazette of the Federation one banking business day

after the date of determination and is used to settle obligations denominated in

dollars settleable in the Mexican Republic the day following its publication in said dissemination medium;

That, derived from the time that exists between the schedules established for the sampling used for

the determination of the FIX exchange rate in accordance with the applicable regulations issued by the Bank of

Mexico (from 9:00:00 to 9:59:00 hours; from 10:00:00 to 10:59:00 hours, and from 11:00:00 to

12:00:00 hours) and the value of the exchange rate at the close of the business day used by the entities to close their operations

(14:00 hours), differences arise between the exchange rate for purposes of

recognition in financial information and the exchange rates used in treasury areas, and

That, in attention to the foregoing, it is necessary to use an exchange rate published by the Bank of Mexico

that considers a wider sample window in order to be consistent with the close of the business day,

therefore it has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE

to the

ACTIVITIES OF SAVINGS AND LOAN COOPERATIVE SOCIETIES

SINGLE.- The Annex E, Accounting Criteria A-3, paragraph 32 and D-4, paragraphs 30, 36 and 37 of the

"General Provisions applicable to the activities of savings and loan cooperative societies", published in the Official Gazette of the Federation on June 4, 2012 and modified for the last time

through the resolution published in said Gazette on September 8, 2021, are REFORMED, to read as follows:

" ANNEX E

ACCOUNTING CRITERIA FOR SAVINGS AND LOAN COOPERATIVE SOCIETIES "

"A-3 APPLICATION OF GENERAL STANDARDS

Paragraphs 1 to 31 . . .

In the formulation of financial statements, the exchange rate to be used to establish the

equivalence of the national currency with the United States dollar, shall be the

closing daily exchange rate on the date of the transaction or of the preparation of the financial

statements, as applicable, published by the Bank of Mexico on its Internet page

www.banxico.org.mx, or the one that replaces it.

Paragraphs 33 to 35 . . . "

" D-4 STATEMENT OF CASH FLOWS

Paragraphs 1 to 29 . . .

Entities must present in a separate line item, as applicable, the following:

The effects from exchange gains or losses on cash and cash equivalents referred to in

paragraph 38, which includes the difference generated by the conversion of the

initial balance of cash and cash equivalents at the closing daily exchange rate on

the date of the close of the previous period that the Bank of Mexico publishes on its Internet

page www.banxico.org.mx, or the one that replaces it, and of the final balance of cash and

cash equivalents at the closing daily exchange rate of the current period, which

the Bank of Mexico publishes on the aforementioned Internet page;

The effects on cash and cash equivalent balances resulting from changes in their

fair value, and

The effects from inflation associated with the balances and the cash flows and cash equivalents

of any of the entities that make up the consolidated economic entity and

that is located in an inflationary economic environment.

Paragraphs 31 to 35 . . .

Conversion of foreign currency cash balances or flows

In order to determine the changes in the balances of foreign currency operational items from

operational activities, these shall be converted at the closing daily exchange rate published by the Bank of Mexico on its Internet page

www.banxico.org.mx, or the one that replaces it, on the date of the close.

Cash flows arising from foreign currency transactions related to

investment and financing activities, shall be converted to the entity's reporting currency

by applying to the amount in foreign currency the closing daily exchange rate on the

date on which each flow occurred, which shall be the one published by the Bank of Mexico on the

aforementioned Internet page.

Paragraphs 38 to 46 . . . "

TRANSITORY

SINGLE.- This Resolution shall enter into force as of December 15, 2021.

Respectfully

Mexico City, December 8, 2021.- President of the National Banking and Securities Commission,

Dr. Jesús de la Fuente Rodríguez.- Signature.

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INQUIRY

BY DATE

INDICATORS

Exchange Rate and Rates as of 08/28/2026

DOLLAR

16.9712 UDIS

8.808812 TIIE 28 DAYS

6.7559% TIIE 91 DAYS

6.7931% TIIE 182 DAYS

6.8474% TIIE DE FONDEO

6.50%

SURVEYS

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