Regulatory Alerts2016-02-29 | Circular 16/2015Added
Circular 16/2015 — Modifications to Circular 8/2014
The Bank of Mexico modifies the rules for the swap of government securities executed on its own account to reduce the revolving nature of Federal Government Development Bonds (BONDES) and ensure a longer average maturity for placed amounts. The amendments redefine BONDES and introduce UDIS as a valuation unit, while updating auction procedures for single/multiple rate auctions and fixed-rate auctions. Financial institutions and brokerage houses must submit specific authorization models to the Bank at least three banking days prior to participating in auctions.
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