Regulatory Alerts2008-04-23 | Circular 14/2008Added
Circular 14/2008 — Information that securities central counterparties must provide to the Bank of Mexico
Circular 14/2008 establishes regulations for securities central counterparties regarding the contracting of credits and loans, requiring such financing to be obtained exclusively from credit institutions for the purpose of meeting obligations, denominated in national currency, and subject to specific notice periods for early termination. The circular mandates that these entities provide operational and risk management information, including methodologies, cost control policies, corporate governance practices, participant-specific operational data, and internal regulations, to the Bank of Mexico's Directorate of Operational and Payment Systems. These provisions entered into force on April 25, 2008, simultaneously abrogating previous dispositions from February 2, 2004.
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