2023-12-27 | DOF 5712624

Added · Updated

Resolution that modifies the General Provisions applicable to credit institutions

The document reforms Articles 56 and 58 and adds Section X to Article 56 of the General Provisions applicable to credit institutions. The changes include foreign central governments and their central banks with Risk Grade 1 in the exception regime for financing limits, subject to rating criteria in Annex 1-B, and update the threshold for exposures equal to or greater than 10 percent of the basic part of Net Capital. The resolution enters into force the day after its publication in the Official Gazette of the Federation.

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Official Gazette of the Federation: 27/12/2023

RESOLUTION that modifies the General Provisions applicable to credit institutions

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

The National Banking and Securities Commission, prior agreement of its Governing Board, based on the provisions of articles 51; 51 Bis; 96 Bis, first paragraph and 98 Bis of the Credit Institutions Law, as well as 4, sections II, IV, XXXVI and XXXVIII, and 16, sections I and VI of the National Banking and Securities Commission Law, and

WHEREAS

That it is necessary to consider in the exception regime to the financing limits the maximum loss against a counterparty or group of interconnected counterparties that, due to their size, could endanger the solvency and continuous operation of credit institutions, the financings with central governments of foreign countries and their central banks, provided that these have a Risk Grade 1, considering that the celebration of active operations with the latter has a low credit exposure, has resolved to issue the following:

RESOLUTION THAT MODIFIES THE GENERAL PROVISIONS APPLICABLE TO THE CREDIT INSTITUTIONS

SOLE PROVISION.- Articles 56, second paragraph and 58, section III, are REFORMED, and Section X is ADDED to Article 56, first paragraph, of the " General Provisions applicable to credit institutions ", published in the Official Gazette of the Federation on December 2, 2005 and last reformed by resolution published in the cited Gazette on September 15, 2023, to read as follows:

" Article 56.-

. . .

I to IX.

. . .

X.

Central governments of foreign countries and their central banks, provided that, these have a Risk Grade 1 rating, in accordance with what is indicated in the correspondence tables of ratings and risk grades at long term and short term, comprised in Annex 1-B of these provisions.

Without prejudice to the foregoing, if the exposure value of the Financings entered into with the central governments of foreign countries, their central banks and the entities or organisms referred to in sections I to X of this article decreases to the extent that any personal guarantee, Credit Insurance or admissible credit derivative operation applies, the respective Institution must recognize the exposure charged to the guarantor or protection provider of the credit operation in accordance with what is established in Article 57 Bis 2 of these provisions.

. . . "

" Article 58.-

. . .

. . .

I. to II.

. . .

III.

Those that update the assumptions contained in Article 56, sections I to X of these provisions, that are equal to or greater than 10 percent of the basic part of Net Capital.

IV.

. . . "

TRANSITORY PROVISIONS

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

Sincerely

Mexico City, December 21, 2023. - President of the National Banking and Securities Commission, Dr. Jesús de la Fuente Rodríguez.- Signature.

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