Regulatory Alerts2004-12-22 | Circular 1/2004Added
Circular 1/2004 — Credit Lines for Siefores to Settle Securities Acquired in International Markets
Circular 1/2004 establishes rules for Specialized Investment Societies for Retirement Funds (Siefores) to contract credit lines for settling securities acquired in international markets. Siefores must settle these credit lines within a maximum of two business days and may use cash deposits or securities as collateral. The rules apply to credit lines denominated in national or foreign currencies provided by custody entities and require that acquired securities fall within the Siefores' investment regime. Any terms differing from these rules require authorization from the Bank of Mexico upon request by the National Commission for the Retirement Savings System.
More like this from BANXICO
We email you every new BANXICO publication the day it's published.