Regulatory Alerts2009-05-08 | Circular 11/2009Added
Circular 11/2009 — Modifies Repo Rules
The Bank of Mexico modifies the rules governing repo operations to expand the universe of eligible securities. Credit institutions and brokerage houses acting as repo sellers to qualified investors, foreign persons, or related entities must ensure that titles are rated by at least two internationally recognized rating agencies or carry a payment guarantee from the Federal Mortgage Society covering at least 65% of the principal, interest, and accessories. Foreign securities must meet equivalent rating requirements. These modifications entered into force on May 8, 2009.
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