Regulatory Alerts2009-04-22 | Circular 10/2009Added
Circular 10/2009 — Modifies Circular 2019/95
Banco de México amends Circular 2019/95 to exempt the US dollar amounts obtained by multiple banking institutions from their participation in US Dollar Credit Auctions from the regimes for admission of liabilities and investment in foreign currency operations. This exemption is implemented by adding item 32 to Annex 17 and repealing the second paragraph of section M.13.22. The modification entered into force on April 22, 2009.
CIRCULAR 10/2009 Mexico, D.F. on April 22, 2009. TO MULTIPLE BANKING INSTITUTIONS: SUBJECT: MODIFICATIONS TO CIRCULAR 2019/95.
Banco de México, based on Article 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; Articles 7°, fractions I, II and X, 8°, 14, 16, 24 and 36, of the Law of Banco de México; Article 22 of the Law for Transparency and Ordering of Financial Services; Article 8°, third and sixth paragraphs, 17, fraction I and 25, fraction II, of the Internal Regulations of Banco de México, which provide for the attribution of the Central Bank, through the Directorate of Central Banking Regulations and the Directorate of Financial System Analysis, respectively, to issue regulations; Article 1 of the Agreement on the Assignment of Administrative Units of Banco de México, fractions I and III, with the objective of promoting the sound development of the financial system by increasing regulatory facilities for these institutions so that the amount in US dollars that they obtain, as applicable, from their participation in the US Dollar Credit Auctions is exempt from the regimes for admission of liabilities and investment for foreign currency operations, has resolved to add numeral 32 to Annex 17, as well as repeal the second paragraph of numeral M.13.22 of Circular 2019/95, to remain in the following terms:
M.13. ADMISSION OF LIABILITIES AND INVESTMENT REGIME FOR FOREIGN CURRENCY OPERATIONS
M.13.2 LIABILITY ADMISSION LIMIT
“M.13.22. . . . Repealed.”
2
ANNEX 17
FOREIGN CURRENCY OPERATIONS THAT, IN TERMS OF M.13.63 AND M.61.2, SHALL NOT BE INCLUDED IN THE CALCULATION OF THE ADMISSION OF LIABILITIES AND INVESTMENT REGIMES FOR FOREIGN CURRENCY OPERATIONS, NOR IN THE CALCULATION OF THE FOREIGN EXCHANGE RISK POSITION, RESPECTIVELY.
“32. Amount in US Dollars, assigned as a result of the participation of these institutions in the US Dollar Credit Auctions held by Banco de México, under Circular 8/2009 dated April 15, 2009.”
TRANSITORY
SINGLE. This modification shall enter into force on April 22, 2009.
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