General Provisions Applicable to Credit Institutions of 2005 (branchless banking-related)

Mexico

(amended through 2010)

General Provisions Applicable to Credit Institutions (Disposiciones de Carácter General Aplicables a las Instituciones de Crédito), issued by the National Banking and Securities Commission (CNBV), is a comprehensive, consolidated set of regulations governing Mexico’s financial institutions. The regulations build a more detailed regulatory framework on top of the foundational rules provided in the Law on Credit Institutions. The provisions most relevant to branchless banking can be found in Title Five, Chapters X and XI, and in Annexes 57, 63 and 64, which are located in a separate document.

Among the provisions relevant to branchless banking are the following:

Chapter X Electronic Banking Services:

  • Section 1 Contracting for Electronic Banking Services;
  • Section 2 User Identification and Authentication in Electronic Banking Services;
  • Section 3 Operations of Electronic Banking Services;
  • Section 4 Security, confidentiality and integrity of information transmitted, stored or processed via Electronic Media;
  • Section 5 Monitoring, Control, and Continuity of Electronic Banking Services Title XI;

Chapter XI On the Contracting of Agents for Services or Commissions:

  • Section 1 General Provisions of Chapter XI:
    • Concerns financial institutions’ use of agents to perform certain services and includes general data privacy principles and requirements for contracting and supervision of agents;
  • Section 2 Contracting with agents to receive deposits from consumers and other banking operations taking place outside of bank offices:
    • Lists permitted and prohibited activities by agents, and includes daily and monthly transfer and balance limits for each account;
  • Section 2 Bis Operating mobile accounts through mobile phone network agents:
    • Requires participation of a mobile banking agent to carry out certain activities; lists permitted and prohibited activities by these agents for mobile phone accounts; includes general provisions that must be included in contracts between financial institutions and mobile banking agents;
  • Section 4 Final Provisions:
    • Concerns financial institutions’ liability for services of agents, CNBV suspension or termination of agent service contracts and requirements for contracting and supervision of mobile banking agents;
  • Annex 57 Criteria for assessing the eligibility of brokers operating under the second section of the fifth chapter of Title XI of this document:
    • Lists minimum capacity indicators for branchless banking agents;
  • Annex 63 Electronic Banking Guide:
    • Consists of a table of core regulations for mobile payments, mobile banking, internet banking, and other more traditional terminals; includes regulations on transfer caps, user identification, and security; and
  • Annex 64 Template form for cases of lost information for electronic accounts.