Regulatory Alerts2008-03-28 | Circular 10/2008Added
Circular 10/2008 — Modifies Circular 2019/95
The Bank of Mexico modifies Circular 2019/95 to establish mechanisms for new institutions or those that recently increased their contributed capital to calculate their foreign exchange risk position limits based on their basic capital. The regulation specifies how basic capital is determined for institutions established or increasing capital in the current or preceding months and mandates reporting to the Financial System Information Directorate. It also repeals sections M.63 through M.63.52, updates operational rules for national currency compensation and authorized excesses, and defines the base amount calculation for credit limits in payment systems using a specific formula and parameters. These changes apply to multiple banking institutions and take effect on March 31, 2008.
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