Regulatory Alerts2022-10-07 | Circular 12/2022Added · Updated
Circular 12/2022 — Modifications to Circular 8/2014 (Inclusion of BONDES denominated in national currency at variable interest rates)
The Bank of Mexico modifies the Rules for the Swap of Government Securities to include BONDES denominated in national currency with variable interest rates in its swap auctions. The document updates definitions for BONDES and introduces new terms such as BONDES G, Advanced Electronic Signature, PRIMARY SWAP, and TIIE de Fondeo. It establishes procedures for bidding, assignment criteria, and settlement calculations for these instruments, including specific formulas for fixed and variable rate bonds.
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