IPAB’s Treasury are is responsible for managing the financial resources available to IPAB to pay its obligations and those available for programs implemented in relation to the Bank Savings Protection System.

Its main functions include planning and executing the acquisition and/or sale of instruments or securities, coverage operations with derivates, and foreign currency purchase and sale operations, among others.It is also responsible for evaluating the terms at which the funds entrusted to it are to be invested, considering revenue and expenditure forecasts and expectations for financial variables, seeking to obtain the highest possible yield with the least possible risk.

The funds the IPAB Treasury manages include those obtained from asset recovery, fees that full service banks paid to IPAB, and fiscal transfers.

Fees

In order to fulfill the purpose of the Law of Banking Savings Protection (Spanish acronym LPAB), full service banks are obliged to pay IPAB ordinary and extraordinary fees established by the Governing Board, under the terms and conditions established in said Law.

LPAB Article 22 stipulates that ordinary fees may not be less than 4 one thousands of the value of banks’ liability operations.

In accordance with the provisions of LPAB Article 69, Item I, banks’ fees credited to IPAB are part of its equity.

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Fiscal Accountability

Funds allocated under General Heading 34, entitled "Obligations derived from Saver Support Programs", in the federal budget of expenditures for each fiscal year will be received and applied, as necessary, to subsidiarily support fulfillment of obligations IPAB assumes.Also, LPAB Article 69, Item VI, stipulates that such funds will form part of IPAB’s equity.

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Asset Recovery

Refers to funds obtained from IPAB’s asset recovery activities which are received by Treasury.In this regard, the funds in question must be managed and applied to support fulfillment of IPAB’s obligations.

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Derivatives

In order to provide a financial tool that supports the management of IPAB’s assets and liabilities, the Governing Board has authorized the use of derivative financial instruments for coverage purposes.

Authorized derivative financial instruments include operations with forwards, futures, swaps, options, and their combinations.It is important to emphasize that operations with such instruments are reported for accounting purposes under the regulatory framework of Bulletin C-10.

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