Resolution that amends the General Provisions applicable to securities issuers and other participants in the securities market

Official Gazette of the Federation: 15/08/2022

RESOLUTION that amends the General Provisions applicable to securities issuers and other participants in the securities market

In the margin a seal with the National Shield, reading: United Mexican States.- FINANCE.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on the provisions of articles 280, first paragraph, section I, subsection b) of the Securities Market Law; 98 Bis of the Credit Institutions Law, as well as 4, sections XXXVI and XXXVIII and 16, section I of the National Banking and Securities Commission Law, and

CONSIDERING

That, in the international context of transition for the adoption of new reference rates that comply with best practices and are aligned with international standards, the Interbank Equilibrium Interest Rate "Funding TIIE" is based on wholesale funding operations in pesos carried out by banks and brokerage houses through repo operations with a term of one banking business day with securities issued by the Federal Government, the Bank Savings Protection Institute and the Bank of Mexico;

That, with the purpose of boosting the adoption and use of the Funding TIIE, on August 18, 2021 the Federal Government, through the Ministry of Finance and Public Credit, announced the creation of the named Bondes F -Federal Government Development Bonds in the Mexican market, denominated in national currency, at variable interest rate corresponding to the Funding TIIE-, in substitution of the previously called Bondes D, whose reference was the variable interest rate known in the market as "Weighted bank funding rate" ;

That, by virtue of the fact that the current "General Provisions applicable to securities issuers and other participants in the securities market" establish the obligation of issuers to inform the institution for the deposit of securities in which these are deposited, regarding the payment of their securities or the calculation of the corresponding interest rate, at least with two business days of anticipation to their maturity, issuers have been unable to replicate the Bondes F model in that term and, consequently, to consider a single or standard reference for the debt securities they issue, which could complicate the analysis, operation, systematization and, potentially, the liquidity and demand under this market, and

That, for the foregoing and with the object of continuing the strategy tending to strengthen the debt structure of the Federal Government and contribute to the development of the market of debt instruments indexed to the Funding TIIE, it is estimated necessary to reduce the term from two business days to one business day the compliance of the obligation of the issuers described in the previous Considering; this will make it possible to replicate the characteristics of the Bondes F and, consequently, will allow issuers to place securities with characteristics similar to these bonds in the debt market, has resolved to issue the following:

RESOLUTION THAT AMENDS THE GENERAL PROVISIONS APPLICABLE TO SECURITIES ISSUERS AND OTHER PARTICIPANTS IN THE SECURITIES MARKET

SOLE.- Article 69, first and second paragraphs of the "General Provisions applicable to securities issuers and other participants in the securities market", published in the Official Gazette of the Federation on March 19, 2003, and last amended by the resolution published in the aforementioned medium of dissemination on February 16, 2021, are REFORMED to read as follows:

"Article 69.- Issuers shall be obligated to inform the institution for the deposit of securities in which these are deposited, regarding the payment of their securities or the calculation of the corresponding interest rate, directly or through the common representative, at least, with one business day of anticipation to their maturity.

Issuers shall inform the stock exchange where the securities indicated in the preceding paragraph are listed, the information referred to in said paragraph through SEDI and, subsequently on the same date, to the Commission through STIV-2.

. . . "

TRANSITORY

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

Sincerely

Mexico City, August 8, 2022. - President of the National