Balance of accounts without movement amounts to $21,334 million: CNBV

The Chamber of Deputies recently approved a reform to modify article 61 of the Law of Credit Institutions (LIC), through which it is proposed that the resources of inactive accounts in banks for more than six years be used for credit programs. security. Yesterday the National Banking and Securities Commission (CNBV) reported that at the end of August, the balance of these accounts amounts to 21,334 million pesos.

In a statement, the authority explained that six institutions concentrate 94% of the total of the Global Deposit Account without Movement of the Institutions (CGCSM) of Multiple Banking, an item in which the inactive accounts are.

According to the banking regulatory entity, the CGCSM contains the balance of abandoned accounts that did not present movements by the owner for three years.

The current law establishes that “if within the following three years the resources are not claimed, their rights prescribe in favor of public charity, in the event that the balance of the account does not exceed 300 Units of Measurement and Update (UMA’s) –equivalent to 51,861 pesos–, the remaining resources are kept in the global account

According to the CNBV at the end of August, Citibanamex is the entity that has the most participation in said account, with 6,477 million pesos that are considered abandoned, which is equivalent to 30.4% of the total resources; while BBVA Mexico concentrated 27.6%, the equivalent of 5,882 million pesos; on the other hand, Banorte had 15.8% or 3,374 million pesos; Santander presents 10.5%, with 2,241 million pesos; HSBC gathered 5.2%, with 1,116 million pesos and Scotiabank has a 4.5% share, equivalent to 963 million pesos.

Discussion in the Legislative

On October 11, the Chamber of Deputies approved the reform to modify article 61 of the LIC and change the destination of inactive accounts for more than six years; The first 300 UMAs will continue to be sent to the Public Charity, but the rest of the resource will go to a public security fund.

The initiative was channeled to the Senate of the Republic for discussion, analysis and possible approval.

The initiative presented in the lower house was promoted by deputy Moisés Ignacio Mier Velazco, from the Morena caucus, and signed by deputy Juanita Guerra Mena, also from Morena.

During their analysis in San Lázaro, they described the discussion of the document as “of urgent resolution”, for which all the necessary paperwork was dispensed so that it could be submitted to discussion and vote immediately.

While waiting for its resolution, different voices have spoken, including President Andrés Manuel López Obrador, who suggested during a morning conference that instead of resources from inactive bank accounts that are not claimed for six years, they go to work of security, they are better used for social programs.

Obrador denied that his government is aiming to confiscate assets through the proposed reform.

“I respectfully ask the Legislative Power to inform and delve deeper into the issue (…) that it be reviewed, it will go to the Senate, that it be thoroughly analyzed and supervised, and that people be informed, so that they do not accuse us of wanting to confiscate goods”, the president insisted.

The position of the ABM

For its part, the Association of Banks of Mexico (ABM) has made clear its intention to cooperate with the Legislative Power, and said that it is ready to provide information and present arguments to legislators, both technical and legal, with the so that they have enough information to allow the Senate to enrich the reform proposal sent.

“The ABM is sure that the senators will promote changes that, without distorting the spirit of the reform, guarantee the protection of users of financial services that could be affected by this reform,” the agency stated.

In this sense, Daniel Becker Feldman, president of the ABM, pointed out that from the organization he heads, it will be sought that the resources of the accounts that remained inactive for six years can be claimed or recovered after that period, provided that the beneficiaries can be authenticated and prove that it is legal money.

“What this law marks is that after six years the resources can no longer be recovered and what we are proposing is that even if (the account) does not have movement (…) if after six years, which is the term that is marked, a client is authenticated and the resources are legal, they can recover their money, as long as they are in the global account”, said the president of the ABM.

He exemplified with the case of the United Kingdom, where inactive accounts can be claimed up to 15 years later.

sebastian.estrada@eleconomista.mx