Circular 12/2011 — Modifies Circular 2031/97

CIRCULAR 12/2011
Mexico, D.F., May 25, 2011.
TO CREDIT INSTITUTIONS:
SUBJECT: CATALOG OF INSTITUTIONS AUTHORIZED TO OPERATE UNDER THE RECIPROCAL PAYMENTS AND CREDITS CONVENTION SIGNED BY THE BANK OF MEXICO AND THE CENTRAL BANKS OF THE OTHER MEMBER COUNTRIES OF THE LATIN AMERICAN INTEGRATION ASSOCIATION (ALADI) AND THE DOMINICAN REPUBLIC

The Bank of Mexico, with the objective of promoting the sound development of the financial system, deems it appropriate to make known to you the current catalog of institutions authorized to operate under the Reciprocal Payments and Credits Convention signed by the Bank of Mexico and the Central Banks of the member countries of the Latin American Integration Association (ALADI) and the Dominican Republic, as well as to modify the manner in which updates to said catalog are reported, by using a more effective dissemination mechanism.

For the foregoing, based on Article 28, paragraphs six and seven, of the Political Constitution of the United Mexican States; Article 24 of the Bank of Mexico Law; Article 22 of the Law for Transparency and Ordering of Financial Services; Article 4, first paragraph, Articles 8, paragraphs four and seven, 10, first paragraph, 14 Bis in relation to 17, fraction I, and 19 Bis, fraction XI, of the Internal Regulations of the Bank of Mexico, which provide for its authority to issue provisions through the General Legal Direction and the Support for Operations Direction, respectively; as well as the Single Article of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, fractions VII and XII; it has resolved:

a) To make known in its entirety through this means, the current catalog as of the date of entry into force of this Circular, of the institutions authorized under the aforementioned Convention, provided for in Annex II of Circular 2031/97, which contains the “Rules of operation of the reciprocal payments and credits convention signed by the Bank of Mexico and the Central Banks of the other member countries of ALADI and the Dominican Republic”, and

b) To inform that said catalog will be kept updated on our electronic page on the Internet www.banxico.org.mx, so it will be the responsibility of those credit institutions to consult it prior to arranging any operation. The foregoing, in view that from the date of entry into force of this Circular, said electronic page will be the means of dissemination of any modification to the content of said catalog.

TRANSITIONAL PROVISIONS
SINGLE. This Circular shall enter into force on May 25, 2011.