Circular 21/2020– Amendments to Circular 12/2020 regarding provisional exemptions due to COVID-19 pandemic. 
June 10, 2020 / COVID-19 /Banking and Finance Law
On June 2, provisional measures taken by Banco de México (hereinafter, “Banxico”) were published in the Federal Official Gazette (FOG) due to the circumstances derived from COVID-19 pandemic. These measures are focused on continuing to promote the good development of the financial system, ensuring its stability, favoring the proper functioning of payment systems, and providing legal certainty to financial institutions and intermediaries. Therefore, the periods of application of the provisional exemptions contained in Circular 12/2020 have been extended.
- The extension of the provisional measures contained in Circular 12/2020 will be as follows:
It has been decided that the days from March 23 to the date to be informed by Banxico through a resolution subsequently issued will be deemed as non-business days; therefore, the computation of the procedural deadlines corresponding to proceedings and acts regarding administrative processes of penalty imposing will be suspended —including those regarding remedies, both of review and reconsideration, as well as those in connection with information requirements related to the aforementioned proceedings. Unless it is otherwise specified regarding the information requirements so that the procedural deadlines start computing again from the date to be informed through the referred resolution publication.
It has been decided to suspend the ordinary inspection visits until the date issued by Banxico through the aforementioned resolution, without such suspension applies to the exercise of the other powers conferred to this Central Bank by the applicable regulations in supervisory matters. Banxico will notify individually the institutions with supervisory procedures in process of the way it will proceed once the suspension is terminated.
This Circular will become effective on June 2, 2020, the day of its publication in the Federal Official Gazette.