Regulatory Alerts2022-12-13 | Circular 16/2022Added · Updated
Circular 16/2022 — Modifications to Circular 1/2022 (Transitional Rules)
The Bank of Mexico modifies the transitional rules of Circular 1/2022 to defer the effective dates for indirect participation services in the Interbank Electronic Payment System (SPEI), mobile phone number-based fund transfers, and remittance processing. The amendments establish new compliance deadlines, including February 23, 2023, May 25, 2023, and June 19, 2023, for participants to assign CLABE sets, notify the Bank of Mexico regarding service offerings, and execute indirect participation service contracts. The document also updates CoDi transfer order timelines and imposes specific obligations on participants regarding FinTech entities seeking payment fund institution authorization.
More like this from BANXICO
We email you every new BANXICO publication the day it's published.