Regulatory Alerts2021-12-15 | DOF 5638360Added · Updated
Resolution modifying the General Provisions applicable to the activities of Savings and Loan Cooperative Societies
The National Banking and Securities Commission amends Accounting Criteria A-3 and D-4 of the General Provisions applicable to Savings and Loan Cooperative Societies to require the use of the closing daily exchange rate published by the Bank of Mexico for financial reporting, replacing the previously mandated FIX rate. This change aligns the exchange rate used for financial statement preparation with the rate used in treasury operations to eliminate discrepancies caused by the time difference between FIX determination and the end of the business day. The resolution enters into force on December 15, 2021.
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