Circular 12/2015 — Modifications to Circular 7/2011

Monday, July 27, 2015 OFFICIAL GAZETTE (First Section) 81

CIRCULAR 12/2015 addressed to Credit Institutions and Stock Brokers, regarding the Modifications to Circular 7/2011.

A logo appears at the margin, stating: Bank of Mexico.

CIRCULAR 12/2015

TO CREDIT INSTITUTIONS AND STOCK BROKERS:

SUBJECT: MODIFICATIONS TO CIRCULAR 7/2011

The Bank of Mexico, in its capacity as the financial agent of the Federal Government, taking into account the letter from the Ministry of Finance and Public Credit number 305.-059/2015, dated July 1, 2015, made known through Circular 11/2015 of this Central Bank, has resolved to carry out modifications to the Procedure for Market Makers and UDIBONOS Market Makers to exercise the right to purchase Bonds, CETES, and UDIBONOS, as applicable, and to conduct loan operations on such securities with the Bank of Mexico in its capacity as the financial agent of the Federal Government, made known through Circular 7/2011, dated February 28, 2011, as it has been modified since that date.

In accordance with the foregoing, based on articles 28, sixth and seventh paragraphs, of the Political Constitution of the United Mexican States, 3, fraction III, 7, fraction I, and 10 of the Bank of Mexico Law, 22 of the Law for Transparency and Ordering of Financial Services, as well as 4, first paragraph, 8, fourth and seventh paragraphs, 10, first paragraph, 12, first paragraph, in relation to 19 Bis, fraction V, and 14 Bis, in relation to 17, fraction I, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Central Bank Operations and the General Legal Directorate, respectively, as well as Second, fractions VI and X, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, it has resolved to modify section 3.1 of the “Procedure for Market Makers and UDIBONOS Market Makers to exercise the right to purchase BONDS, CETES, and UDIBONOS, as applicable, and to conduct loan operations on such securities with the Bank of Mexico in its capacity as the financial agent of the Federal Government”, contained in Circular 7/2011, to read as follows:

PROCEDURE FOR MARKET MAKERS AND UDIBONOS MARKET MAKERS TO EXERCISE THE RIGHT TO PURCHASE BONDS, CETES, AND UDIBONOS, AS APPLICABLE, AND TO CONDUCT LOAN OPERATIONS ON SUCH SECURITIES WITH THE BANK OF MEXICO IN ITS CAPACITY AS THE FINANCIAL AGENT OF THE FEDERAL GOVERNMENT

3. LOAN OF SECURITIES BETWEEN MARKET MAKERS AND UDIBONOS MARKET MAKERS, AND THE BANK OF MEXICO IN ITS CAPACITY AS THE FINANCIAL AGENT OF THE FEDERAL GOVERNMENT

“3.1 … Upon maturity of the securities loan operations referred to in the preceding paragraph, Market Makers and UDIBONOS Market Makers shall pay the Bank of Mexico the premium corresponding to each of said operations, in accordance with what is provided in section 4.2.6 and in Annex 4, as well as in section 7.2.5 and in Annex 5 of the Official Letter, respectively.”

TRANSITORY

SINGLE. This Circular shall enter into force on September 17, 2015.

Mexico, D.F., July 21, 2015.- The General Director of Central Bank Operations, Jaime José Cortina Morfín.- Signature.- The General Legal Director, Luis Urrutia Corral.- Signature.

Monday, July 27, 2015 OFFICIAL GAZETTE (First Section) 82

For any inquiries regarding the content of this Circular, please contact the Management of Authorizations, Consultations, and Legal Control, at the phone numbers (55) 5237-2308, (55) 5237-2317, or (55) 5237-2000 Ext. 3200.