07 Dec CNBV – RESOLUTION that modifies the general provisions for Credit Institutions
December 7, 2020 – The entry into force of transitory articles FIRST, THIRD, FIFTH, SEVENTH, EIGHTH, NINTH and TENTH is modified; and REPEAL the ELEVENTH transitory article of the Resolution that modifies the General Provisions applicable to credit institutions, published in the Official Gazette of the Federation on March 13, 2020, to read as follows:
Effective as of January 2022:
- Transitory Article First (verification of biometric data).
- Third transitory article (constitution and recognition of preventive reserves for credit risks according to the new methodology).
- Transitory Article Fifth (application and recognition of the accounting criteria contained in Annex 33 of the CUB).
- Transitory Article Eighth (acknowledgments for the application of the leasing standard).
- Transitory Article Ninth (entry into force of regulatory reports in accordance with Annex 36, so it must be sent in February 2022 with information from January 2022).
In the case of Transitory Article Seventh, the loan portfolio subject to testing must be in force as of December 31, 2021, to verify that they comply with the assumption that the cash flows of the contracts correspond only to payments of principal and interest.
Jurisdictions affected: Mexico
For more information, visit Comisión Nacional Bancaria y de Valores.