Regulatory Alerts2024-11-12 | Circular 13/2024Added
Circular 13/2024 — Modifications to Repo Rules
The Bank of Mexico modifies definitions and rules for credit institutions, brokerage houses, investment funds, and other regulated entities regarding repo operations. The circular introduces definitions for Prime Brokers, Central Securities Counterparties, and Hedge Funds, and exempts Covered Investment Funds from certain margin and collateral requirements while allowing the Bank to set exposure limits. It mandates same-day confirmation for specific repo transactions and repeals the information reporting requirements of Article 10, with the rules entering into force on December 16, 2024.
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