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

DOF: 30/05/2024

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,

after agreement

of its

Board of Directors,

based on

the provisions

of articles

31,

first paragraph,

sections IV,

VI and

VII and

second paragraph;

32;

and 70, third paragraph

of the Law to Regulate the Activities of

Savings and Loan Cooperative Societies;

98 Bis of the

Credit Institutions Law,

as well as

4, sections

II, IV, V, XXXVI and XXXVIII and

16, sections

I and

VI of the Law of the

National Banking and Securities Commission, and

CONSIDERING

That,

with the purpose of providing savings and loan cooperative societies with a

regulatory framework consistent with their

operations, it is necessary to make clarifications to the

norm in order to establish that

with respect only to those

restructured credits or

considered as troubled

carrying assets, appraisals of

real estate assets and even

those for residential use must be conducted

at least every three years or updated when

market conditions are unstable at the discretion of the

National Banking and Securities Commission;

likewise that said

appraisals may also be prepared by

valuation units authorized by

Federal Mortgage Society, S.N.C.,

in terms of what is provided in the

Transparency and Competition Promotion Law in

Guaranteed Credit, which will allow

societies to have greater certainty in

compliance with their obligations when

integrating the credit files of their

clients and with the objective of contributing to their

healthy and balanced development, therefore it has resolved to issue the

following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO THE ACTIVITIES OF SAVINGS AND LOAN COOPERATIVE SOCIETIES

SINGLE.-

ARTICLES 33, section II, second paragraph, subsection b), numeral 9, sub-subsection i), sub-numeral 1), second paragraph;

73, section VI, fifth paragraph, subsection d), numeral 1, sub-subsection i), second paragraph;

118, section VI, sixth paragraph, subsection d), numeral 1, sub-subsection i), second paragraph;

174, section VI, seventh paragraph, subsection d), numeral 1, sub-subsection i), second paragraph;

are REFORMED; and

ANNEXES C and C Bis 1 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 its modifications, are REPLACED, to read as follows:

" Article

33.-

. . .

II.

. . .

a 8 .

. .

. . .

Societies, in their credit manuals, must provide that

appraisals are prepared in terms of what is provided in the

Transparency and Competition Promotion Law in

Guaranteed Credit and in accordance with what is established in

Annex C Bis 1, Section VI of these provisions.

2) and 3) . . .

ii) and iii) . . .

10.

to 12.

. . .

c) and d) . . .

. . .

. . . "

" Article

73.-

. . .

to V.

. . .

VI.

. . .

to c) . . .

. . .

Societies, in their credit manuals, must provide that

appraisals are prepared in terms of what is provided in the

Transparency and Competition Promotion Law in

Guaranteed Credit and in accordance with what is established in

Annex C Bis 1, Section VI of these provisions.

ii) and iii) . . .

and 3 .

. .

to g) . . .

. . .

. . . "

" Article

118.-

. . .

to V.

. . .

VI.

. . .

to c) . . .

. . .

Societies, in their credit manuals, must provide that

appraisals are prepared in terms of what is provided in the

Transparency and Competition Promotion Law in

Guaranteed Credit and in accordance with what is established in

Annex C Bis 1, Section VI of these provisions.

ii) and iii) . . .

and 3 .

. .

to g) . . .

. . .

. . . "

" Article

174.-

. . .

to V.

. . .

VI.

. . .

to c) . . .

. . .

Societies, in their credit manuals, must provide that

appraisals are prepared in terms of what is provided in the

Transparency and Competition Promotion Law in

Guaranteed Credit and in accordance with what is established in

Annex C Bis 1, Section VI of these provisions.

ii) and iii) . . .

and 3 .

. .

to g) . . .

. . .

. . . "

TRANSITORY

SINGLE.-

This Resolution will enter into force on the day following its publication in the Official Gazette of the Federation.

Respectfully,

Mexico City, May 21, 2024.- President of the National Banking and Securities Commission, Dr.

Jesús de la Fuente Rodríguez .- Signature.

ANNEX

PROCEDURE FOR THE QUALIFICATION AND CONSTITUTION OF PREVENTIVE ESTIMATES

I. Consumer credit portfolio

Societies must qualify and constitute the corresponding preventive estimates for their

consumer credit portfolio, with figures as of the last day of each

calendar month, following the procedure below:

a) They must classify the entirety of their consumer credit portfolio,

based on the number of days of delay or delinquency elapsed since the day of the first amortization of the credit,

which has not been covered by the borrower as of the date of qualification.

b) Likewise, they must classify their credit portfolio into

Type 1 and Type 2 as follows:

Type 1 Portfolio, that credit portfolio with respect to which it is not estimated that the debtor will default on its credit obligations to the Society, and is not within the circumstances of being considered as "troubled portfolio".
Type 2 Portfolio, that credit portfolio whose credits it is probable that the debtor will default on its credit obligations to the Society, updating such circumstance when it determines that any of the credits under the debtor constitutes a "troubled portfolio".

Once a credit has been classified as Type 2 Portfolio, it will remain in that classification until its liquidation.

For the purposes of the aforementioned numerales 1 and 2, "troubled portfolio" shall be understood as that composed of consumer credits with respect to which it is determined that, based on current information and facts, as well as in the credit review process, there is a considerable probability that they will not be recovered in their entirety, both their principal amount and interest, in accordance with what is established in the contract.

Likewise, it will be "troubled portfolio" that which, having undergone restructuring or renewal, becomes past-due portfolio in accordance with what is established in the Accounting Criteria.

Both the current portfolio and the past-due portfolio are susceptible to being identified as troubled portfolio.

c) For each stratum and type of portfolio, they must maintain and constitute the preventive estimates resulting from applying to the total amount of their consumer credit portfolio the percentage of estimates corresponding in accordance with the following table:

Days of delinquency	Percentage (%) of preventive estimates Type 1 Portfolio	Percentage (%) of preventive estimates Type 2 Portfolio
0	1	10
1 to 7	2	13
8 to 30	10	20
31 to 60	20	35
61 to 90	40	55
91 to 120	70	80
121 to 180	85	95
181 or more	100	100

The amount subject to qualification shall not include accrued but uncollected interest, registered in the balance sheet, of credits that are in past-due portfolio.

II. Commercial credit portfolio

Societies must qualify and constitute the corresponding preventive estimates for their

commercial credit portfolio, with figures as of the last day of each

calendar month, following the procedure below:

a) They must classify the entirety of their commercial credit portfolio,

based on the number of days of delay or delinquency elapsed since the day of the first amortization of the credit

that has not been covered by the borrower as of the date of qualification.

b) They must classify their credit portfolio into

Type 1 and Type 2 as follows:

Type 1 Portfolio, that with respect to which it is not estimated that the debtor will default on its credit obligations to the Society, and is not within the circumstances of being considered as "troubled portfolio".
Type 2 Portfolio, that integrated by credits with respect to which it is probable that the debtor will default on its credit obligations to the Society, updating such circumstance when it determines that any of the credits under the debtor constitutes a "troubled portfolio".

Once a credit has been classified as Type 2 Portfolio, it will remain in that classification until its liquidation.

For the purposes of the aforementioned numerales 1 and 2, "troubled portfolio" shall be understood as that constituted by commercial credits with respect to which it is determined that, based on current information and facts, as well as in the credit review process, there is a considerable probability that they will not be recovered in their entirety, both their principal amount and interest, in accordance with what is established in the contract.

Likewise, it will be "troubled portfolio" that which, having undergone restructuring or renewal, becomes past-due portfolio in accordance with what is established in the Accounting Criteria.

Both the current portfolio and the past-due portfolio are susceptible to being identified as troubled portfolio.

c) For each stratum and type of portfolio, they must maintain and constitute the preventive estimates resulting from applying to the total amount of their commercial credit portfolio the percentage of estimates corresponding in accordance with the following table:

Days of delinquency	Percentage (%) of preventive estimates Type 1 Portfolio	Percentage (%) of preventive estimates Type 2 Portfolio
0	0.50	10
1 to 30	2.5	10
31 to 60	15	30
61 to 90	30	40
91 to 120	40	50
121 to 150	60	70
151 to 180	75	95
181 to 210	85	100
211 to 240	95	100
More than 240	100	100

The amount subject to qualification shall not include accrued but uncollected interest, registered in the balance sheet, of credits that are in past-due portfolio.

III. Productive Microcredits

Societies must qualify and constitute the corresponding preventive estimates for their

Productive Microcredits, following the procedure below:

a) They must classify the entirety of their Productive Microcredits,

based on the number of billing periods that as of the date of qualification report default or delinquency of the required payment established by the Society.

b) For each stratum, they must maintain and constitute the preventive estimates resulting from applying to the total amount of their Productive Microcredits the percentage of estimates corresponding in accordance with the following tables, depending on whether the billing periods with default are weekly, biweekly or monthly.

Weeks of Delinquency	Percentage (%) of preventive estimates
0	0.5
1	1
2	3
3	4
4	5
5	10
6	15
7	20
8	25
9	30
10	35
11	40
12	45
13	50
14	60
15	70
16	80
17	85
18	90
19	95
20 or more	100

Biweeks of Delinquency	Percentage (%) of preventive estimates
0	0.50
1	3
2	5
3	15
4	25
5	35
6	45
7	60
8	80
9	90
10 or more	100

Months of Delinquency	Percentage (%) of preventive estimates
0	0.50
1	5
2	25
3	45
4	80
5 or more	100

IV. Housing credit portfolio

Societies must qualify and constitute the corresponding preventive estimates for their

housing credit portfolio, with figures as of the last day of each

calendar month, following the procedure below:

a) They must classify the entirety of their housing credit portfolio,

based on the number of days of delay or delinquency elapsed since the day of the first amortization of the credit,

which has not been covered by the borrower as of the date of qualification.

b) They must classify their credit portfolio into

Type 1 and Type 2 as follows:

Type 1 Portfolio, that with respect to which it is not estimated that the debtor will default on its credit obligations to the Society, and is not within the circumstances of being considered as "troubled portfolio".
Type 2 Portfolio, that integrated by credits with respect to which it is probable that the debtor will default on its credit obligations to the Society, updating such circumstance when it determines that any of the credits under the debtor constitutes "troubled portfolio".

Once a credit has been classified as Type 2 Portfolio, it will remain in that classification until its liquidation.

For the purposes of the aforementioned numerales 1 and 2, "troubled portfolio" shall be understood as that constituted by housing credits with respect to which it is determined that, based on current information and facts, as well as in the credit review process, there is a considerable probability that they will not be recovered in their entirety, both their principal amount and interest, in accordance with what is established in the contract.

Likewise, it will be "troubled portfolio" that which, having undergone restructuring or renewal, becomes past-due portfolio in accordance with what is established in the Accounting Criteria.

Both the current portfolio and the past-due portfolio are susceptible to being identified as troubled portfolio.

c) For each stratum and type of portfolio, they must maintain and constitute the preventive estimates resulting from applying to the total amount of their housing credit portfolio, including the interest generated by the provisioning percentages indicated below:

Days of delinquency	Percentage (%) of preventive estimates Type 1 Portfolio	Percentage (%) of preventive estimates Type 2 Portfolio
0	0.35	2
1 to 30	1.05	5
31 to 60	2.45	10
61 to 90	8.75	20
91 to 120	17.50	30
121 to 150	33.25	45
151 to 180	34.30	60
181 to 1460	70	80
More than 1460	100	100

The amount subject to qualification shall not include accrued but uncollected interest, registered in the balance sheet, of credits that are in past-due portfolio.

Societies may only constitute the preventive estimates referred to in this Section IV, for the part of the amount of their credits that is covered, with duly registered mortgage guarantees in their name, being applicable to them the percentage corresponding in accordance with the previous table, while to the uncovered part a percentage of 100% will correspond, without the recognition of real estate guarantees being applicable, provided for in Section V of this Annex.

In those credits intended for the remodeling or improvement of housing that do not have a duly registered mortgage guarantee in the name of the Society, to qualify and constitute the corresponding preventive estimates, they must apply the table referred to in Section I of this Annex, as applicable.

V. Adjustments to preventive estimates and recognition of guarantees

Societies may only recognize reductions in the days of delinquency of credits that have been the subject of restructuring or renewal, once there is sustained payment in accordance with what is established in the Accounting Criteria.

When making such reductions, they will adhere to the policies that the Society itself has approved for such purpose.

When Societies have guarantees that comply with what is provided in Annex C Bis 1, Section I of these provisions, they may reduce the percentage of preventive estimates of the credit or credits in question, taking the necessary measures so that the guarantee can be adjudicated and executed at the moment that defaults occur on the part of the borrower, placing them in past-due portfolio, in accordance with what is established in the Accounting Criteria.

The uncovered part will maintain the percentage of preventive estimates corresponding to it.

Societies may only recognize reductions in the days of delinquency derived from the application of personal and non-financial real guarantees of credits that have been the subject of restructuring or renewal when there is sustained payment, and must take the necessary measures so that the guarantee can be adjudicated and executed at the moment that defaults occur on the part of the borrower, placing them in past-due portfolio, in accordance with what is established in the Accounting Criteria.

In the event that the management for the adjudication and execution of the guarantee does not begin at the moment the credit is classified as past-due portfolio, Societies must cease to recognize the coverage provided by said guarantee and assign the preventive estimates corresponding to the days of delinquency registered.

Guarantees constituted in terms of the previous paragraph may cover the total or a certain percentage of the outstanding balance of one or more credits when the deposit contracts or modifications to them provide that there is no possibility of making withdrawals or disposing of the aforementioned guarantees during the validity of the credits, and that these can be covered by charge to such deposits or values.

Societies, when qualifying credits that have 2 or more guarantees, may recognize the coverage of said guarantees considering the following:

a) They will determine the part of the balance that is covered by 2 or more guarantees, whether they are means of payment with immediate liquidity, non-financial guarantees, or Step-by-Step Coverage Scheme or First Loss Coverage Scheme, as well as the exposed or uncovered portion in the terms described.

b) The covered part of the credit balance may be divided into 2 or more segments, based on the type of guarantees that have been granted, when they adjust to the following:

If there are 2 or more Step-by-Step Coverage Schemes or First Loss Coverage Schemes, each guarantor must respond for the guaranteed part of the credit balance, provided that there are no exceptions or defenses of priority order in collection among the guaritons themselves.
If there are 2 or more guarantees constituted with means of payment with immediate liquidity or non-financial guarantees, each one must cover the guaranteed part of the credit balance, provided that it has been expressly and irrevocably agreed in the contracts giving rise to the guarantee the part of the credit that will be guaranteed with each encumbered asset.
In the case of combinations of the Step-by-Step Coverage Scheme or the First Loss Coverage Scheme and means of payment with immediate liquidity or non-financial guarantees, each of them may be considered, provided that they are executable at the time of qualification and comply with the requirements established in subsections a) and b) of this Section.

Upon receiving guarantees whose validity is subject to the fulfillment of terms and conditions by the Society, the creditor of the guarantee, and the latter fails to comply with said terms and conditions, the guarantee shall not be considered for the purposes of what is established in this Section.

Societies, in no case, may simultaneously take the Step-by-Step Coverage Scheme or the First Loss Coverage Scheme and means of payment with immediate liquidity or non-financial guarantees from the same guarantor.

Societies may opt not to recognize the guarantees, if doing so results in higher preventive estimates.

The credit balance for the purposes of portfolio qualification shall not consider accrued but uncollected interest of credits that are in past-due portfolio, as these will be reserved separately applying a 100% estimate.

With respect to guarantees constituted with the means of

payment

with

immediate liquidity

provided for in

the

Annex

Bis

Section

subsections

a),

b),

and

these

provisions,

against

which

may

ensured

the

application

such

resources

the

totality

the

outstanding

balance

determined

percentage

the

outstanding

balance

the

loan,

the

Societies

may

exempt

the

portion

the

loan

covered

such

guarantees

from

the

constitution

preventive

provisions.

Regarding

guarantees

constituted

with

the

means

payment

with

immediate

liquidity

provided

for

Annex

Bis

Section

subsections

and

these

provisions,

against

which

may

ensured

the

application

such

resources

the

totality

the

outstanding

balance

determined

percentage

the

outstanding

balance

the

loan,

the

Societies

shall

constitute

the

provisions

corresponding

the

covered

portion

percentage

0.5

the

case

where

the

Societies

are

beneficiaries

under

the

First

Loss

Coverage

Scheme

for

loan

for

portfolio

identified

loans

with

similar

characteristics,

they

must

apply

the

following

procedure:

Ensure

that

the

loans

comprising

the

portfolio

covered

the

received

guarantee

are

clearly

identified

and

have

similar

characteristics.

Calculate

the

provision

requirement

for

the

loan,

for

each

the

loans

the

covered

portfolio

according

the

methodologies

described

Sections

this

Annex,

applicable,

and

the

case

loan

portfolios,

sum

the

results

each

the

loans

determine

the

total

provision

requirement

for

said

portfolios.

The

total

provisions

calculated

according

the

preceding

subsection

must

compared

with

the

value

the

corresponding

First

Loss

Coverage

Schemes,

order

comply

with

the

following:

the

value

the

First

Loss

Coverage

Schemes

greater

than

equal

the

total

provision

requirement

for

the

loan

for

the

loan

portfolio

before

the

recognition

the

own

guarantees,

the

Society

will

only

constitute

the

provisions

resulting

from

multiplying

the

provision

percentage

corresponding

the

Protection

Provider,

accordance

with

this

Annex,

the

amount

the

provisions

required

for

the

loan

portfolio.

the

value

the

First

Loss

Coverage

Scheme

less

than

the

total

provision

requirement

for

the

loan

for

the

loan

portfolio

before

the

recognition

the

own

guarantees,

the

Society

must

constitute

provisions

for

the

uncovered

portion

the

amount

necessary

reach

the

totality

the

required

provisions,

while

for

the

covered

portion,

must

constitute

the

provisions

resulting

from

multiplying

the

provision

percentage

corresponding

the

Protection

Provider,

accordance

with

this

Annex,

the

amount

the

guarantee.

For

the

Societies

recognize

the

guarantees

and

assign

the

corresponding

reserve

the

covered

tranches

the

loan

portfolio,

there

must

evidence

compliance

with

the

terms

and

conditions

established

the

guarantors

regarding

the

information

they

require,

well

compliance

with

the

processes

established

the

corresponding

contracts.

Regarding

the

Step-by-Step

Coverage

Scheme,

the

Society

must

separate

the

covered

portion

the

loan

covered

portfolio

from

the

uncovered

portion,

assigning

the

former

the

provision

percentage

corresponding

the

Protection

Provider

and

the

latter

the

provision

percentage

corresponding

the

original

borrower,

accordance

with

this

Annex.

both

the

case

First

Loss

Coverage

Schemes

and

the

Step-by-Step

Coverage

Scheme

proportional

schemes,

only

the

following

groups

admissible

Protection

Providers

will

recognized

for

portfolio

classification

purposes:

Group

Development

bank

institutions.

National

Financial

Institution

for

Agropecuary,

Rural,

Forestry

and

Fishery

Development,

the

one

that

replaces

it.

Public

trusts

that

are

part

the

Mexican

financial

system

accordance

with

Article

3rd

the

Credit

Institutions

Law.

Trusts

concluded

specifically

for

the

purpose

sharing

credit

risk,

which

development

bank

institutions

with

express

guarantee

from

the

Federal

Government

act

settlor

and

trustee.

National

Guarantee

Fund

for

the

Agropecuary,

Forestry,

Fishery

and

Rural

Sectors,

the

one

that

replaces

it.

National

Infrastructure

Fund,

the

one

that

replaces

it.

Entities

the

Federal

Public

Administration

under

direct

budgetary

control,

state-owned

productive

enterprises,

programs

derived

from

federal

law

that

are

part

the

Federal

Expenditure

Budget.

Funds

constituted

with

resources

contributed

guarantee

state

municipal

governments

that

are

liquid

and

irrevocable

favor

the

Society.

Group

National

multiple

bank

institutions

that

have

rating

least

investment

grade

the

national

scale.

Other

entities

members

the

Mexican

financial

system,

including

insurance

companies,

that

have

least

investment

grade

the

national

scale.

Other

legal

persons

international

financial

entities

that

have

least

investment

grade

the

international

scale.

Group

Other

members

the

same

Society.

When

Protection

Providers

listed

Group

are

available,

the

provision

percentage

that

will

correspond

the

covered

portion

will

0.5

Regarding

Protection

Providers

listed

Group

provision

percentage

will

assigned

the

covered

portion.

the

case

guarantees

given

the

persons

referred

Group

the

provision

percentage

corresponding

the

maximum

days

default

that

said

member

has

recorded

other

credit

operations

with

the

Society,

distinct

from

the

one

being

guaranteed,

applied

the

provision

table

the

covered

operation,

will

assigned

the

covered

portion.

the

event

that

the

uncovered

portion

assigned

provision

percentage

lower

than

that

assigned

the

covered

portion,

indicated

the

preceding

paragraph,

the

Societies

may

use

the

former

for

the

entire

operation.

the

case

loans

destined

finance

the

primary

activity

the

agropecuary

sector

that

have

agricultural

and

animal

damage

insurance,

which

complies

with

the

characteristics

referred

Annex

Bis

Section

these

provisions,

the

Societies

may

multiply

the

provisions

corresponding

the

direct

borrower

factor

long

insurance

claim

filed.

For

the

purposes

the

preceding

paragraph,

"loans

the

agropecuary

and

rural

sector"

shall

understood

those

directed

the

primary

production

the

agricultural,

livestock,

forestry

and

fishery

sectors,

well

the

industrial,

commerce

and

services

sectors

when

these

are

integrated

the

primary

activity

the

initially

mentioned

sectors,

whose

branches

and

sub-branches

economic

activity

correspond

those

indicated

sector

the

North

American

Industrial

Classification

System

2018

(NAICS)

the

National

Institute

Statistics

and

Geography

(INEGI),

the

one

that

replaces

it.

the

case

where

claim

filed

with

the

insurance

granting

entity

the

lending

Society

and

said

entity

accepts

without

the

covered

amount

having

been

executed

paid

and,

therefore,

the

loan

has

not

been

derecognized

from

the

balance

sheet

the

Societies,

these

may

calculate

the

provisions

multiplying

the

balance

the

covered

loan

0.5

when

the

aforementioned

insurance

granting

entity

has

rating

assigned

rating

agency

less

than

investment

grade

the

national

scale.

Societies

that

have

non-financial

real

guarantees

covering

least

the

outstanding

balance

the

loan

the

date

calculation

preventive

provisions,

may

recognize

such

guarantees

for

the

purposes

provisioning

their

credit

portfolio

the

amount

resulting

from

multiplying

the

recognition

percentage

provided

the

following

table

their

last

appraisal

value,

updated

for

depreciation

the

case

movable

property:

Type

non-financial

guarantee

assimilable

instrument

Percentage

(%)

recognition

Commercial

and

residential

real

estate

Movable

property

and

others

determine

the

corresponding

provisions

for

the

covered

portion

each

loan

portfolio

covered

with

non-financial

guarantees

and

assimilable

instruments,

provisioning

percentage

0.5

will

assigned.

ANNEX

BIS

REQUIREMENTS

THAT

GUARANTEES

MUST

COMPLY

WITH

RECOGNIZED

FOR

THE

PURPOSES

DETERMINING

THE

CAPITAL

REQUIREMENT

FOR

CREDIT

RISK

AND

PREVENTIVE

PROVISIONS

FOR

CREDIT

RISKS

When

the

Societies

have

guarantees

constituted

with

means

payment

with

immediate

liquidity,

with

Step-by-Step

Coverage

Schemes,

First

Loss

Coverage

Schemes,

with

non-financial

guarantees

assimilable

instruments

that

comply

with

what

provided

this

Annex,

they

may

reduce

the

percentage

preventive

provisions

the

loan

loans

question,

accordance

with

what

established

Annex

Section

these

provisions.

The

eligible

guarantees

constituted

for

such

purposes

are

those

indicated

below:

Guarantees

constituted

with

means

payment

with

immediate

liquidity,

regarding

which

the

Societies

must

observe

the

following:

shall

understood

that

guarantee

constituted

with

means

payment

with

immediate

liquidity

when

concerns:

Cash

cash

deposits

constituted

the

borrower

any

other

member

third

party

favor

the

own

Society,

well

means

payment

with

maturity

greater

than

equal

the

term

the

loan

granted

the

member

favor

the

Society

question,

taking

the

necessary

measures

that

the

guarantee

can

adjudicated

and

executed

the

moment

that

defaults

the

borrower

occur

that

place

delinquent

portfolio,

accordance

with

what

established

the

Accounting

Criteria

when

the

debtor

third

party

constitutes

deposit

the

own

Society

and

grants

irrevocable

mandate

apply

the

respective

resources

the

payment

the

loans,

when

concerns

negotiable

credit

instruments

immediate

realization

and

wide

circulation

and,

the

event

default,

are

available

without

any

legal

restriction

for

the

Society

and

from

which

the

debtor

any

other

person

distinct

from

the

own

society

cannot

dispose

while

the

obligation

subsists.

Values

issued

the

Bank

Mexico.

Values

issued

guaranteed

the

Federal

Government.

Values,

instruments,

and

documents

issued

the

Institute

for

the

Protection

Bank

Savings,

well

the

obligations

guaranteed

said

institute.

Bank

instruments

that

have

credit

rating

issued

securities

rating

institution,

equal

better

than

risk

grade

the

national

scale

granted,

least,

one

rating

agency.

Investments

representing

the

capital

daily

liquidity

investment

funds.

For

the

purposes

this

subsection,

the

aforementioned

investments

shall

understood

terms

Articles

10,

fraction

subsection

and

13,

fraction

II,

subsection

these

provisions.

II.

Non-financial

guarantees

and

assimilable

instruments,

regarding

which

the

following

must

considered:

The

Societies,

order

use

non-financial

guarantees

and

assimilable

instruments

for

the

purposes

provisioning

their

credit

portfolio,

must

have

available

the

Commission

evidence

that

accredits

what

indicated

below:

The

signing

contracts

other

instruments

which

the

constitution

the

guarantees

documented,

which

the

causes

default

that

generate

the

Society's

right

execute

such

guarantees

are

stated.

the

case

the

movable

guarantees

provided

for

Article

bis

the

Commercial

Code,

the

consultation

certification

obtained

from

the

Unique

Movable

Guarantees,

and

the

case

deposit

certificates

and

pledge

bonds,

the

consultation

certification

obtained

from

the

Unique

Certificates,

Warehouses

and

Goods

denominated

its

acronym

"RUCAM",

referred

Article

Bis

the

General

Law

Organizations

and

Auxiliary

Credit

Activities.

the

case

pledge

bonds

traded

for

the

first

time

separately

from

the

deposit

certificate,

the

Societies

must

have

evidence

that

they

complied

with

what

provided

Article

236

the

General

Law

Instruments

and

Credit

Operations.

the

case

where

the

Societies

take

deposit

certificates

guarantee,

they

must

notify

the

general

warehouses

deposit

such

situation

and

have

evidence

it.

The

adoption

the

necessary

measures

that

ensure

the

conservation

the

goods

that

are

the

object

the

guarantees,

which

includes

their

registration

the

Public

Property

that

corresponds;

the

case

the

movable

guarantees

provided

for

Article

bis

the

Commercial

Code,

the

registration

the

Unique

Movable

Guarantees,

and

the

case

participations

federal

revenues,

federal

contributions,

and

other

own

revenues

the

states

and

municipalities,

the

borrowings

and

obligations

the

corresponding

federative

entity

and

the

Unique

referred

the

Law

Financial

Discipline

the

Federative

Entities

and

the

Municipalities,

the

one

that

replaces

it,

well

those

necessary

exercise

the

right

compensation

based

the

transfer

ownership

the

non-financial

guarantees.

The

Societies

that

take

deposit

certificates

and

pledge

bonds

must

exercise

the

right

consignated

the

second

paragraph

Article

Bis

the

General

Law

Organizations

and

Auxiliary

Credit

Activities

and

have

the

certification

the

electronic

file

the

deposit

certificate

obtained

the

RUCAM

which

indicated

that

the

corresponding

annotations

the

taking

the

referenced

certificates

and

pledge

bonds

were

made.

The

existence

risk

management

processes

that,

addition

what

provided

TITLE

THIRD,

Chapter

these

provisions,

explicitly

consider

the

legal,

operational,

liquidity,

and

market

risks

that

derive

from

the

use

non-financial

guarantees.

Said

processes

must

comply

with

the

requirements

indicated

Section

this

Annex.

The

incorporation

into

credit

policies

and

manuals

derived

from

them,

guidelines

and

procedures

for

the

administration

non-financial

guarantees

general,

and

elements

for

the

decrease

provision

requirements,

specifically.

With

regard

this,

the

Societies

must

have

policies

ensure

that:

Frequent

valuation

non-financial

guarantees

carried

out,

accordance

with

what

indicated

Section

this

Annex,

including

tests

and

scenario

analyses

under

unusual

extreme

market

conditions.

Updated

information

regarding

the

situation,

location,

and

condition

the

received

non-financial

guarantees

available,

well

potential

liquidation

problems.

There

adequate

risk

diversification

with

respect

non-financial

guarantees.

Correct

administration

the

guarantees

carried

out,

order

consider

the

differences

maturity

dates

and

the

consequent

exposure

periods,

once

the

non-financial

guarantees

expire.

Surveillance

and

attention

risks

derived

from

external

factors,

which

could

affect

the

ability

non-financial

guarantees

address

credit

risk

(for

example,

liquidity

behavior

the

market

for

non-financial

guarantees),

carried

out.

The

governing

bodies

the

Society

and

the

members

are

aware

the

policies

the

management

and

administration

risks,

derived

from

the

use

non-financial

guarantees

coverage

for

credit

risk.

The

establishment

methods

and

internal

controls

that

ensure:

That

the

non-financial

guarantees

given

are

not

securities

issued

the

same

common

risk

group

which

the

borrower

belongs.

The

observance

the

conditions

and

terms

established

the

contracts,

well

the

identification

any

default

the

counterparty

and,

consequently,

the

ability

request

the

execution

the

non-financial

guarantees.

For

the

purposes

the

above,

the

default

event

defined

the

contracts

must

consider

situations

which

the

debtor

delinquent

portfolio

status

with

respect

the

Society,

when

determines

that

any

the

loans

under

the

debtor

constitutes

troubled

portfolio,

has

filed

for

the

commercial

bankruptcy

the

debtor,

the

latter

has

requested

it.

The

taking

necessary

measures

ensure

the

separation

non-financial

guarantees

from

other

assets

when

the

real

guarantee

under

the

custody

third

party

the

own

borrower.

III.

Non-financial

guarantees

and

assimilable

instruments

admissible

must

correspond

one

the

following

types:

Commercial

residential

real

estate

for

amount

that

does

not

exceed

the

current

reasonable

value

which

the

property

could

sold

through

private

contract.

Movable

property

other

guarantees

provided

for

Article

bis

the

Commercial

Code,

registered

the

Unique

Movable

Guarantees

referred

the

Commercial

Code

deposited

general

warehouses

deposit,

including

those

goods

given

lease,

regarding

which

there

purchase

option

the

end

the

term

the

contract.

The

guarantee

must

considered

amount

that

does

not

exceed

the

current

reasonable

value

which

the

good

could

sold

through

private

contract.

The

guarantees

provided

for

Article

bis

the

Commercial

Code

may

not

previously

registered

the

Unique

Movable

Guarantees

covered

deposit

certificates

and

pledge

bonds

issued

general

warehouses

deposit

and

registered

the

RUCAM.

Receivable

and

fiduciary

rights,

understood

such

the

securities

whose

liquidation

must

carried

out

through

the

flows

derived

from

the

underlying

assets,

regarding

which

the

Society

must

have

ownership

and

disposition

the

cash

flows

derived

from

the

receivable

rights,

any

foreseeable

circumstance.

Included

within

the

concept

referred

the

preceding

paragraph

are

self-liquidating

depts

proceeding

from

the

sale

goods

services

linked

commercial

operations,

well

the

amounts

any

nature

due

buyers,

suppliers,

the

Federal

Public

Administration

State

Administration,

state-owned

productive

enterprises,

well

other

independent

third

parties

not

the

sale

goods

services

linked

commercial

operation.

Admissible

receivable

and

fiduciary

rights

not

include

those

securitizations

sub-participations.

When

the

debtor

makes

payments

directly

the

assignor

the

receivable

rights,

trust,

collection

administrator,

the

Society

must

periodically

prove

that

those

payments

are

forwarded

within

the

terms

included

the

contract.

Participations

federal

revenues

federal

contributions,

both,

that

correspond

the

federative

entities

municipalities,

which

may

given

through:

Guarantee

administration

trust,

both.

Instructions

irrevocables

mandate contracts

for

guarantee,

both.

Own revenues

that correspond to

the federative entities

or municipalities,

which may be granted through:

Trust of guarantee or administration,

or both.

Irrevocable instructions or mandate contracts

for guarantee,

or both.

Deposit certificates

and pledge bonds registered in

the RUCAM,

provided that the

Society notifies the

general warehouse of deposit

issuer of said

titles that these were taken by the said

Society as guarantee and

has the certification of the electronic file of the

deposit certificate obtained in

the RUCAM,

in which it is stated that the

corresponding annotations were made of the

taking in guarantee of the

referenced certificates and pledge bonds by

part of the Society.

For the purposes of what is provided by the present

Annex, "other assimilable instruments" shall be understood as

those provided for by the

subsections d) and e) of the previous

Section.

IV.

The guarantees and instruments referred to in

Section III, subsections d) and e) of the previous

Annex, to guarantee their legal certainty,

at a minimum must:

Be duly constituted in favor of the

Society in question.

In the case of

participations in federal revenues,

federal contributions and other own revenues of the federative entities

and municipalities must:

i) Have authorization from the local legislatures, in accordance with what is established in the local debt laws corresponding.

ii) Be registered in the registry of borrowings and obligations of the corresponding federative entity.

iii) Be registered in the Unique Registry referred to in the Law of Financial Discipline of the Federative Entities and the Municipalities, or the one that replaces it.

iv) Have clear mechanisms for channeling resources in favor of the Societies for the payment of financing, such as a valid letter of irrevocable instruction to the Treasury of the Federation or through trusts or other structured products.

v) Have the opinion of an independent specialized legal firm, or that of the legal area of the Society, regarding the validity of the backing of the participations and contributions in federal revenues based on the documents backing the obligations of the federative entity or municipality with the Society.

vi) Have the opinion of an independent specialized legal firm, or that of the legal area of the Society, in the case of credits guaranteed with own revenues, regarding the validity of the backing of said revenues.

In the case of real estate, they must:

i) Be legally enforceable in the jurisdiction and be duly constituted.

ii) Be registered in the Public Registry of Property in question.

iii) Have agreements or clauses that document the guarantees and that allow the Society in question to execute them.

In the case of receivables and fiduciary rights, the documents or legal instruments in which they are recorded must:

i) Ensure the enforceability of their yields.

ii) Be binding on all parties and legally enforceable in the corresponding jurisdiction.

The Societies must monitor compliance with their terms, for which they will have the necessary mechanisms to allow such verification.

iii) Establish certain and clearly defined procedures that allow for the rapid collection of cash flows generated by the receivables.

In any case, the procedures with which the Societies have must guarantee the observance of all pertinent conditions in the legal scope for the declaration of the member's default and the rapid adjudication of the guarantee.

Likewise, the documents or legal instruments in which the guarantees are recorded must provide for the possibility of selling or assigning the receivables to third parties without the prior consent of the debtors in cases where there are financial difficulties or default by the creditor.

Be free of encumbrances with third parties or, in the contrary case, that the Society in question appears first in the order of payment, considering for such effect the appraisal of the guarantee,

Be easy to realize.

In the administration of movable and immovable property, the Societies must clearly document the characteristics that must be met to be accepted as non-financial guarantees and the policies for their administration, as well as ensure that the goods accepted as guarantee are insured in favor of the Society in question in case of damage or defects, and carry out continuous monitoring of the existence and degree of any preferential right over the property.

VI.

In the administration of risks of the guarantees referred to in Section III of the present Annex, the Societies must:

For the case of real estate, including those for habitual use:

Regarding credits that have been restructured and when considered "troubled portfolio" in accordance with what is provided in Annex C of these Provisions, the Societies will carry out an appraisal at least every three years. Likewise, said appraisals will be updated when, in the judgment of the Commission, market conditions are unstable or it considers that the materialization of certain events warrants it. When, as a result of the application of value estimates of the real estate, any is identified whose value has decreased, or when the available information suggests that the value of the real estate may have been significantly reduced compared to general market prices and new appraisals are needed, the appraisal must be updated.

Real estate that are in any of the cases indicated in the previous paragraph will not be considered as credit risk mitigants until the corresponding appraisal is updated, as well as those real estate that are guarantee of credits that are in default.

The appraisals referred to in the previous numeral for credits guaranteed for housing will be carried out through valuation units or by professional appraisers, authorized by Federal Mortgage Society, S.N.C., in accordance with what is established in the Law of Transparency and Promotion of Competition in Guaranteed Credit and will be updated according to the policies of the Savings and Loan Cooperative Society in question.

The appraisals must contain evidence of the existence and current physical state of the real estate, as well as the monitoring of the existence and degree of any preferential right over it.

For the case of receivables:

Have a clear process to determine the credit risk of the receivables. Said process must, among other aspects, include the analysis of the creditor's business and the economic sector in which it operates, considering the effects of the economic cycle, as well as the type of member with whom it negotiates. In the event that they use information provided by the creditor to evaluate the credit risk of the members, the Societies must examine the creditor's credit history to corroborate its solidity and credibility.

Ensure that the margin or the cushion between the amount of the credit and the value of the receivables reflects all timely factors including the cost of adjudication, the degree of concentration of the receivables coming from a single creditor and the concentration risk with respect to the total positions of the Society in question.

Carry out a continuous and adequate monitoring process for each type of risk, whether direct or contingent, attributable to the guarantee used as coverage. This process must include reports on age, control of commercial documents, certificates of the debt base, frequent audits of the guarantee, account confirmation, control of income of credited accounts, dilution analysis and periodic financial analysis of both the creditor and the issuers of the receivables, especially in the case that the guarantee is formed by a small number of high-value receivables. Likewise, they must observe the concentration limits that the Society in question establishes for its guarantees in receivables, as well as the agreements related to the loan in question.

Ensure that the receivables pledged by a creditor are diversified. In the event that such rights depend predominantly on the credit quality of the guarantor, the corresponding risks must be taken into consideration when establishing margins for the set of guarantees. Receivables coming from persons related to the creditor, including subsidiaries and employees, will not be recognized as risk coverage.

Have a documented process for collecting receivables in situations of difficulty, including the necessary services to carry it out, even if the collection work is usually carried out by the creditor.

VII.

Goods granted in financial lease may be recognized receiving the same treatment as admissible non-financial guarantees when the Societies are not subject to the residual value risk, which consists of the exposure of said Societies to a potential loss derived from the fall of the reasonable value of the asset below its estimated residual value at the beginning of the lease.

The Societies must comply with the minimum requirements for the type of admissible real guarantee in question and, in addition, must observe the following criteria:

The lessor must carry out adequate risk management in accordance with the location of the asset, the use given to it, its age and its expected life cycle.

The lessor must have ownership of the asset, as well as the capacity to exercise its rights as owner in a timely manner.

The difference between the depreciation rate of the fixed asset and the amortization rate included in the payments for the lease should not be significant, in order to avoid overestimating the credit risk coverage attributed to the leased assets.

VIII.

Regarding Step-by-Step Coverage Scheme or First-Loss Coverage Scheme, the Societies must attend to the following:

Have policies, procedures and internal controls to carry out the analysis of the coverage that consider, at least, the following:

The periodic evaluation of the credit quality of the entity providing the Step-by-Step Coverage Scheme or the First-Loss Coverage Scheme. For such purposes, it must consider, at a minimum, the monitoring and analysis of the ratings assigned by securities rating institutions.

Regarding the Step-by-Step Coverage Scheme or the First-Loss Coverage Scheme, they must evaluate the way in which such operations were structured and the ease of their execution considering, when applicable, other direct and contingent obligations on the Society or entity providing these.

Have contracts or other instruments in which the constitution of the guarantees is documented in which the assumptions and the procedure to exercise the guarantee are recorded. With respect to this, the contracts, documents or instruments in which the guarantees are recorded must:

Ensure that the Society in question maintains the right to execute the guarantees legally in case of default, insolvency, bankruptcy or any other similar event, and that the contract or instrument in which they are documented does not contain any clause that allows the Protection Provider to unilaterally cancel the coverage or increase the cost of the guarantee in the event of a deterioration of the credit quality of the covered position.

Be irrevocable and unconditional, so that the contracts or instruments in which they are recorded cannot contain any clause that allows the Protection Provider to exempt itself from paying in a timely manner in the event that the original counterparty presents any default.

In any case, the contracts or other documents can only be modified with the agreement of the Society.

Be mandatory for the involved parties and legally enforceable in the corresponding jurisdictions.

Provide that, upon the occurrence of a default or non-payment by the debtor, the Society can immediately initiate actions against the guarantor regarding the pending payment obligations. Likewise, the contracts, documents or instruments in which the guarantees are recorded must stipulate that the guarantor can make a single payment covering the total amount of the pending obligations on the debtor, or can assume the future payment of the obligations on the debtor. In any case, the obligation of the guarantor must be established in the documentation that formalizes the operation.

Comply with the applicable legal requirements in order to obtain and maintain the right to exercise the Step-by-Step Coverage Scheme or the First-Loss Coverage Scheme, as well as carry out the necessary monitoring with the objective of ensuring compliance with said requirements.

Not recognize the Step-by-Step Coverage Scheme or the First-Loss Coverage Scheme that are granted reciprocally between whoever provides any of these risk mitigation techniques and the Society itself.

Reveal in notes to the financial statements the way in which they use the Step-by-Step Coverage Scheme or the First-Loss Coverage Scheme to cover credit risk. Said disclosure of the information must be published in a general and aggregated manner, highlighting the amount covered by the Step-by-Step Coverage Scheme or by the First-Loss Coverage Scheme.

Ensure, at least, the following:

That it is an explicitly documented obligation assumed by the guarantor.

That the obligation cannot be unilaterally cancelled by the guarantor.

That the guarantor will cover any type of payment that the debtor is obligated to make by virtue of the legal instrument regulating the operation.

IX.

The Societies, regarding credit insurance, must, at least, comply with the following:

The insurance provider must be a specialized institution authorized to grant insurance and that has a credit rating equal to or higher than investment grade issued, by at least, one securities rating institution referred to in the Securities Market Law.

The contracts or policies of the coverage schemes must:

i) Consider the conditions of partial or total default of a creditor.

ii) Be legally enforceable in the corresponding jurisdiction. For this purpose, they must allow the beneficiary Society to execute the coverage scheme under the conditions and deadlines agreed, unless the Society in question:

1) Fails to pay the insurance premium or the consideration corresponding to the granting of the guarantee.

2) Modifies, without authorization of the granting entity, the coverage scheme or the agreed conditions of the covered credits.

3) Cancels or transfers the insured credits under conditions different from those agreed, or commits any fraud linked to the guaranteed credit.

iii) Do not include clauses that allow the entity granting the coverage scheme:

1) Cancel or revoke unilaterally, except for what is provided in the subsection ii) of the present subsection.

2) Increase the cost of the coverage scheme in the event of a deterioration of the credit quality of the covered position.

3) Object to or omit payment upon any default by the creditor, except for what is provided in the subsection ii), subsection numeral 2) of the present subsection.

iv) Cover, in addition to the principal, the ordinary interests corresponding by virtue of the credit contract.

In the case of coverage with agricultural insurance, the following must be considered:

Regarding credits destined to finance the primary activity of the agricultural sector, agricultural damage and animal insurance may be recognized as mitigants of credit risk, when they comply with the following requirements:

The contracts or policies include as beneficiary of the insurance directly the granting Society, or there is some legal instrument in which such circumstance is provided.

The insured sum covers, at least, the outstanding balance of the credit and its interests.

The corresponding insurance covers, at least, the following agricultural risks:

i) Frost.

ii) Flood.

iii) Clogging.

iv) Warm wave.

v) Low temperatures.

vi) Lack of floor to harvest.

vii) Hail.

viii) Fire.

ix) Excess humidity (rain).

x) Impossibility to sow.

xi) Drought.

xii) Earthquake.

xiii) Hurricane.

xiv) Cyclone.

xv) Tornado.

xvi) Waterspout.

xvii) Strong winds.

Are granted by specialized entities authorized by the National Commission of Insurance and Sureties that have a credit rating, equal to or higher, to investment grade, issued by, at least, one securities rating institution.

The payment of the premium is up to date in accordance with what is established contractually.

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4.72% CPP

5.09% 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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Official Gazette of the Federation

Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our menu of services

Electronic address: dof.gob.mx

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