News & Analysis as of

Banking Sector Financial Institutions Mexico

Cadwalader, Wickersham & Taft LLP

FFFrictions, August 2025 - FinCEN Restrictions on Certain Mexican Banks

New and significant prohibitions against financial transactions between U.S. financial institutions and three Mexican financial institutions are set to go into effect in a little over a month on September 4, 2025. In late...more

Lowenstein Sandler LLP

[Webinar] Targeted: How FinCEN's Fentanyl Fight Is Reshaping U.S.–Mexico Financial Compliance - August 7th, 11:00 am - 12:00 pm ET

Lowenstein Sandler LLP on

Join Lowenstein Sandler and Santamarina + Steta for a timely webinar exploring the legal and compliance implications of recent U.S. Treasury actions under the FEND Off Fentanyl Act. The session, featuring Lowenstein's Robert...more

Hogan Lovells

UPDATE #2: Effective date of FinCEN’s Section 2313a orders against three Mexican financial institutions delayed until September 4

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U.S. financial institutions that conduct funds transfers with the designated Mexican institutions have until 4 September to implement compliance procedures. Transfers of funds involving these designated Mexican institutions...more

Hogan Lovells

UPDATE: Effective date regarding FinCEN’s new Section 2313a Orders against three Mexican financial institutions

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U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions have until 21 July to implement compliance procedures. Transfers of funds involving these designated Mexican...more

Hogan Lovells

FinCEN invokes new Section 2313a authority against three Mexican financial institutions: The who, what, when, where, why, and...

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The orders represent the first use of new authorities by FinCEN. U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions will be subject to significant compliance obligations,...more

Hogan Lovells

Reforma a las Disposiciones de Carácter General a que se refiere el artículo 115 de la Ley de Instituciones de Crédito

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El pasado 28 de agosto de 2024, la Secretaría de Hacienda y Crédito Público (“SHCP”) publicó la “Resolución que reforma, adiciona y deroga diversas de las Disposiciones de carácter general a que se refiere el artículo 115 de...more

Hogan Lovells

Amendment to the General Provisions referred to in Article 115 of the Credit Institutions Law

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On 28 August 2024, the Ministry of Finance and Public Credit (“Secretaría de Hacienda y Crédito Público – ‘SHCP’”) published the ‘Resolution that amends, adds and repeals several of the General Provisions referred to in...more

White & Case LLP

Digital Agents

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On July 11, 2024, the Resolution amending the Regulations applicable to credit institutions (the "Resolution") regarding Digital Agents was published in the Federal Official Gazette. The purpose of the Resolution is to...more

Hogan Lovells

Nuevas obligaciones de diversificación en colocación de financiamiento y revelación de información aplicable a Bancos

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El 17 de abril de 2022, la Comisión Nacional Bancaria y de Valores (la “CNBV”) publicó en el Diario Oficial de la Federación (“DOF”) modificaciones a las Disposiciones de Carácter General aplicables a las Instituciones de...more

Foley & Lardner LLP

Mexico: Some Key Issues to Watch in a Financially Stressed Environment

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Following the bank receivership of Silicon Valley Bank (SVB) and similar situations with other stressed financial institutions in the U.S. and Europe, companies are concerned with their international assets and credits held...more

Hogan Lovells

Las instituciones financieras deben adecuar y registrar sus comisiones

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A partir del 3 de marzo de 2023, las instituciones financieras bajo la supervisión del Banco de México deben adecuar sus comisiones al catálogo de comisiones publicado por el banco central....more

Hogan Lovells

Eliminación de la Tasa de Interés Interbancaria de Equilibrio (TIIE) a plazos de 28, 91 y 182 días

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El Banco de México emitió un comunicado en el que anuncia que prohibirá a las entidades financieras el uso de tasas de interés de referencia para plazos mayores a 1 día hábil bancario a partir de 2024....more

Hogan Lovells

Elimination of the Interbank Equilibrium Interest Rate (TIIE) for terms of 28, 91, and 182 days

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The Mexican Central Bank issued a press release announcing that it will ban financial entities from using benchmark interest rates for terms greater than 1 banking day as of 2024....more

Hogan Lovells

Financial entities must update their financial credentials and institutional keys before the CONDUSEF

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On October 14, 2022, the CONDUSEF issued new general provisions applicable to all financial institutions in order to standardize reporting obligations, reduce deadlines, and increase the obligations of financial institutions....more

White & Case LLP

Amendment to the Regulations applicable to mutual funds and their service companies

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On August 16, 2022, the Resolution that amends the General Provisions applicable to mutual funds and their service companies (the "CUFI", and the resolution that amends it, the "Amendment") was published in the Federal...more

Hogan Lovells

SPEI 2.0 – New Regulation for Indirect Participants

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New rules the Mexican electronic-transfer system known as SPEI were published on March 23, 2022 affecting fintech companies and smaller players that indirectly connect to this system through other bigger financial...more

White & Case LLP

Mexico: New defense procedure against inclusion in Blocked Persons List

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On March 11, 2022, a reform to the Mexican Banking Law (Ley de Instituciones de Crédito) was published in the Federal Official Gazette (Diario Oficial de la Federación) in order to provide a new procedure for the defense of...more

White & Case LLP

Liquidity Requirements for Mexican banking institutions

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On Monday, August 23, the General Guidelines on Liquidity Requirements for Banking Institutions issued jointly by the National Banking and Securities Commission (the “Commission”) and Mexico’s Central Bank, Banco de México,...more

Holland & Knight LLP

FinCEN Announces National AML/CFT Policy Priorities

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The Financial Crimes Enforcement Network (FinCEN) on June 30, 2021, issued national priorities for anti-money laundering (AML) and countering the financing of terrorism (CFT) policy (the Priorities), as required by the...more

WilmerHale

New York Legalizes Marijuana - Where Is the US Headed?

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It’s been an eventful week for the marijuana industry. After years of false starts, New York legalized the use of recreational marijuana on March 31 - just hours later, New Mexico legislators passed a bill to do the same....more

White & Case LLP

Notices to the general public issued by Mexican National Banking and Securities Commission

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On December 4, 2020, the Mexican National Banking and Securities Commission (the “CNBV”) issued through its website two notices informing the general public of the following: I. Notice to the general public regarding...more

White & Case LLP

Modification to certain provisional measures published by Banco de Mexico, as a result of the COVID-19 coronavirus pandemic

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On June 30, 2020, the Mexican Central Bank (Banxico or Central Bank) issued a press release announcing the amendments to be made to Rules 20/20201 and 25/20202, which shortly will be published in the Federal Official Gazette....more

White & Case LLP

Draft regulation with provisional simplification of KYC measures for the banking sector in Mexico

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On Sunday June 21, 2020, the Mexican Banking and Securities Commission ("CNBV") ?in charge of the anti-money laundering and counter-financing of terrorism ("AML/CFT") supervision of the banking sector in Mexico? communicated...more

White & Case LLP

Provisional measures published by Banco de México (Banxico or Mexican Central Bank) as a result of the COVID-19 coronavirus...

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On June 2, 2020, the following Rules, related to the provisional measures taken due to the COVID-19 pandemic, were published in the Federal Official Gazette: A. Rule 20/2020, addressed to multiple banking and development...more

White & Case LLP

Special accounting standards in Mexico

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In response to the requests made by representatives of different financial entities regulated and supervised by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores or “CNBV”), the authority...more

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