Bank of Mexico issues resolution to supervise financial institutions by telematic means
11 noviembre 2021

MEXICO

On November 5, the Bank of Mexico (BANXICO in Spanish), through the Official Journal of the Federation (DOF in Spanish), published a resolution by which amendments are made to the Rules of Supervision, Self-Correction Programmes and Sanctioning Procedure, in the area of supervision of financial institutions. The text allows BANXICO to carry out inspections of supervised institutions by telematic means. The regulation will enter into force on November 6.

The text stipulates that the inspections may be carried out by telematic means, clarifying that the objective of the inspections will consist of the inspection of the records, operations, automated equipment and systems of the supervised institutions on their premises.

It is also clarified that these inspections will be carried out by inspectors telematically, using electronic means and devices that allow synchronous text, audio and video communication.

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