Regulatory Alerts2007-10-03 | Circular 12/2007Added
Circular 12/2007 — Modifies Circular 3/2006
The Bank of Mexico modifies the definitions of "Market Makers" and "Office" and updates the procedures for securities lending operations with the Federal Government's financial agent. Market Makers must now pay loan premiums in two stages: a fixed portion settled via INDEVAL and a second portion paid to the Bank of Mexico on the next banking day. Existing contracts are rescinded on October 31, 2007, and Market Makers must submit required documentation and sign new contracts starting October 4, 2007.
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