On April 25, 2024, the National Banking and Securities Commission (the “CNBV”) published in the Official Gazette of the Federation the “Resolution that modifies the General Provisions applicable to General Deposit Warehouses, Exchange Houses, Credit Unions and Regulated Multiple Purpose Financial Companies”.

The objective of these amendments is to make the process of rating commercial loan portfolios of Credit Unions more flexible.

In addition, with respect to the preventive capital reserves, accounting criteria were modified and revoked to eliminate the obligation to include these reserves in the financial statements of Credit Unions.

It is important to mention that the obligation to report the results of the rating of the commercial credit portfolio to the National Banking and Securities Commission has been updated, so that now it must be reported monthly instead of quarterly

This resolution will become effective as of January 1, 2025.

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