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

DOF: 04/04/2017

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.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, with prior agreement of its Board of Directors, based on the provisions of Article 31, fraction VI of the Law to Regulate the Activities of Savings and Loan Cooperative Societies, as well as Articles 4, fractions II, XXXVI and XXXVIII, and 16, fraction I of the Law of the National Banking and Securities Commission, and

CONSIDERING

That it is necessary to improve the recognition of credit risk and determine the capital that savings and loan cooperative societies must hold to cover credit risk operations with or guaranteed by development banking institutions in which the Federal Government assumes responsibility at all times, has resolved to issue the following:

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

SINGLE.- Articles 50, fraction I, subsection b), with a second paragraph; 90, fraction I, subsection b), with a second paragraph; and 135, fraction I, subsection b), with a second paragraph, 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, updated with modifications published in said dissemination organ on January 9, 2015, and January 7, 2016, are ADDED, to read as follows:

"Article 50.- . . .

I.

. . .

. . .

a)

. . .

b)

. . .

Without prejudice to what is established in the preceding paragraph, credit risk operations with or guaranteed by development banking institutions in which, in accordance with their respective organic laws, the Federal Government assumes responsibility at all times for said operations, shall have a credit risk weighting of zero percent.

c)

. . .

. . .

II. and III. . . .

. . .

. . .

. . .

. . . "

"Article 90.- . . .

I.

. . .

. . .

a)

. . .

b)

. . .

Without prejudice to what is established in the preceding paragraph, credit risk operations with or guaranteed by development banking institutions in which, in accordance with their respective organic laws, the Federal Government assumes responsibility at all times for said operations, shall have a credit risk weighting of zero percent.

c)

. . .

. . .

II. and III. . . .

. . .

. . .

. . .

. . . "

"Article 135.- . . .

I.

. . .

. . .

a)

. . .

b)

. . .

Without prejudice to what is established in the preceding paragraph, credit risk operations with or guaranteed by development banking institutions in which, in accordance with their respective organic laws, the Federal Government assumes responsibility at all times for said operations, shall have a credit risk weighting of zero percent.

c)

. . .

. . .

II. and III. . . .

. . .

. . .

. . .

. . . "

TRANSITORY

SINGLE.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

Respectfully,

Mexico City, March 27, 2017.- The President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

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