Regulatory Alerts2017-08-01 | Circular 15/2017Added
Circular 15/2017 — Modification to Circular 4/2016
The Bank of Mexico modifies Rule 27a of Circular 4/2016 to define the operating hours for the Interbank Payment System in Dollars (SPID) and the submission windows for clients. Credit institutions must allow sender clients to present transfer requests between 08:00:00 and 15:59:59 hours on banking days, with an optional window from 16:00:00 to 16:59:59 hours. The period from 17:00:00 to 17:14:59 hours is reserved exclusively for participants to receive, credit, and send transfer orders related to returns. These rules apply to credit institutions participating in the SPID and became effective on August 1, 2017.
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