Regulatory Alerts2020-01-15 | Circular 1/2020Added
Circular 1/2020 — Modifies Circular 3/2012
The Bank of Mexico introduces a new one-business-day reference rate, the TIIE de Fondeo, calculated from overnight repurchase operations with CETES, BONDES, BREMS, and IPAB securities, while strengthening corporate governance and reporting standards for existing multi-day TIIE rates. The regulation mandates the daily publication of the TIIE de Fondeo via SIAC-BANXICO by 17:00 and in the Official Journal within two business days, and establishes procedures for its calculation based on aggregated transaction volumes. It also defines the cessation of publication for multi-day TIIE rates if the Bank decides to terminate their determination.
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