Regulatory Alerts2024-04-09 | DOF 5722573Added
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 align with IFRS 9, introducing new definitions for credit risk metrics such as Exposure at Default and Probability of Default. The resolution establishes a new Section Five for provisioning consumption, microcredit, housing, and commercial portfolios, and updates reporting requirements, including quarterly submissions for basic-level societies and new financial statement formats. It also amends capital requirements, liquidity positions, and market risk calculations while repealing and substituting several existing articles and annexes.
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