Regulatory Alerts2023-12-11 | Circular 15/2023Added · Updated
Circular 15/2023 — Modifications to Circular 14/2007
The Bank of Mexico amends Circular 14/2007 to introduce the Forward Composite Interbank Equilibrium Rate (TIIE de Fondeo Compuesta por Adelantado) for tenors of 28, 91, and 182 days as a reference rate for national currency credits. Regulated credit institutions and multiple-object financial societies must indicate the specific tenor of this rate when referencing it in credit agreements. The circular modifies definitions and general provisions regarding variable rates and adds a new section for forward composite national currency reference rates, entering into force on the next banking day following its publication in the Official Gazette.
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