Regulatory Alerts2021-09-08 | DOF 5629146Added · Updated
Resolution modifying the General Provisions applicable to the activities of Savings and Loan Cooperative Societies
The CNBV modifies the General Provisions for Savings and Loan Cooperative Societies (levels I-IV) to strengthen the legal framework for documenting guarantees and mitigate risks from non-presential microcredit. The amendments introduce definitions for first-loss and pari-passu coverage schemes, establish risk weightings for protection providers, and mandate specific documentation for loan files, including appraisals and verification reports. Additionally, the resolution updates capital requirement calculations to recognize these guarantee schemes and sets procedures for additional provisions and liquidity loans.