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

DOF: 25/07/2025

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

A seal bearing the National Coat of Arms appears at the margin, stating: United Mexican States.- Treasury.- Ministry of

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

The National Banking and Securities Commission, based on the provisions of articles 31, first paragraph, fraction XI; 32 and 34, second paragraph of the Law to Regulate the Activities of Savings and Loan Cooperative Societies; 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 purpose of reducing the compliance cost of this modifying resolution, the National Banking and Securities Commission, through the issuance of the "Resolution modifying the General Provisions that establish the procedure for attending to the requests for information and documentation that competent authorities formulate to financial entities subject to the supervision of the National Banking and Securities Commission, through this", published in the Official Gazette of the Federation on April 28, 2017, established that in cases of positive response and whenever authorities request it, the information and documentation delivered by financial entities must be sent through electronic devices and the format of the information requested regarding account statements;

That it is necessary to make adjustments to the applicable regulations for savings and loan cooperative societies regarding special accounting criteria and special accounting records, in order to provide legal certainty regarding the natural phenomena that trigger the condition for their authorization and the requirements they must meet to demonstrate adverse impact on the solvency or liquidity of those financial entities and, if applicable, on the stability of the financial system as a whole, or when those societies are undergoing financial cleanup or corporate restructuring processes;

That, in that sense, and to provide better elements to savings and loan cooperative societies, the information they must present to obtain authorization and application of said special accounting criteria and special accounting records is established, which will benefit the stability of the financial system as a whole, and which in turn will allow the National Banking and Securities Commission to better exercise its authorization and supervision powers; therefore it has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO THE

ACTIVITIES OF SAVINGS AND LOAN COOPERATIVE SOCIETIES

SINGLE.- Article 195 is REFORMED and Articles 195 Bis and 195 Bis 1 are ADDED, to 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 through resolutions published in the aforementioned dissemination medium, to read as follows:

" Article 195 .-

. . .

. . .

The Commission may authorize Savings and Loan Cooperative Societies with operation levels I to IV, 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 due to the occurrence of disturbing natural phenomena that generate effects on the economy that, in the opinion of the Commission, could cause an adverse impact on the solvency or liquidity of two or more Savings and Loan Cooperative Societies and, if applicable, on the stability of the financial system.

For the purposes of the foregoing, disturbing natural phenomenon shall refer to that mentioned 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 geographic area of application.

II.

Detailed narrative of the economic effects that have occurred or are estimated to occur due to the disturbing natural phenomenon.

III.

Estimation of the impact that the economic effects could cause on the solvency, liquidity indicators and those related to the application of the special accounting criteria of the affected Savings and Loan Cooperative Societies and, if applicable, the impact on the stability of the financial system.

IV.

Explanation of how the special accounting criteria will help reduce or prevent the effects referred to in the preceding fractions.

The authorization request must be sent in free format, signed by the legal representative of the Savings and Loan Cooperative Societies, accompanied by documents accrediting their personality, or if applicable, signed by the legal representative of the self-regulatory bodies recognized by the Commission or of any guild representation body.

Until the Commission authorizes the application of the special accounting criteria, Savings and Loan Cooperative Societies must continue using the accounting criteria contained in Annex E of these provisions.

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

Article 195 Bis.- The Commission may authorize Savings and Loan Cooperative Societies with operation levels I to IV, regarding the application of the accounting criteria provided 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 correct functioning of the Savings and Loan Cooperative Societies during Financial Cleanup or Corporate Restructuring processes, provided that such processes do not result from non-compliance with the regulatory framework applicable to them and that the Savings and Loan Cooperative 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 accrediting its 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 Financial Cleanup or Corporate Restructuring process.

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 effects that said indicators could present in case of not having the requested authorization.

IV.

The actions and remediation measures that constitute the Financial Cleanup or Corporate Restructuring processes required by the Savings and Loan Cooperative Society.

V.

Evidence that the actions and measures indicated in the request have the approval of the Board of Directors of the requesting Cooperative Savings and Loan Society.

For the purposes of this article, it must be understood by:

a)

Financial Cleanup, the reorganization process for the improvement of the financial situation of a Savings and Loan Cooperative Society, which results from an effect on its solvency, stability or liquidity that puts the continuity of the Savings and Loan Cooperative Society at risk.

b)

Corporate Restructuring, the set of actions that transform the legal structure of a Savings and Loan Cooperative Society and which result from an effect on its solvency, stability or liquidity that puts its business continuity at risk and which 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 the special accounting records, Savings and Loan Cooperative Societies must continue using the accounting criteria contained in Annex E of these provisions.

Article 195 Bis 1.- Savings and Loan Cooperative Societies with operation levels I to IV, that have obtained authorization from the Commission to apply special accounting criteria or special accounting records, in terms of articles 195 and 195 Bis 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 they have authorization for their application.

II.

The description of the special accounting criteria or special accounting records authorized 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 income statement if they did not have the authorization to apply the special accounting criteria or special accounting records.

IV.

The detail of the concepts and amounts for which the accounting effect was made.

V.

The impact that the application of the 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 195 and 195 Bis, respectively, when Savings and Loan Cooperative 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 authorized special accounting criteria or special accounting records, as the case may be. "

In case that, if applicable, Savings and Loan Cooperative Societies to which the Commission has revoked the 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 on which the revocation is determined.

TRANSITIONAL

SINGLE.- 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.- Rubric.

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