Circular 17/2017 — Additional Auctions of Government Securities Placement Conducted by the Bank of Mexico as Financial Agent of the Federal Government

22 (First Section) OFFICIAL GAZETTE Thursday, September 7, 2017 BANK OF MEXICO CIRCULAR 17/2017 addressed to Credit Institutions, Brokerage Houses, Investment Funds, and Specialized Investment Societies for Retirement Funds, regarding the Rules for Additional Auctions of Government Securities Placement Conducted by the Bank of Mexico in its capacity as Financial Agent of the Federal Government.

A logo appears at the margin, stating: Bank of Mexico.

CIRCULAR 17/2017 TO CREDIT INSTITUTIONS, BROKERAGE HOUSES, INVESTMENT FUNDS, AND SPECIALIZED INVESTMENT SOCIETIES FOR RETIREMENT FUNDS:

SUBJECT: RULES FOR ADDITIONAL AUCTIONS OF GOVERNMENT SECURITIES PLACEMENT CONDUCTED BY THE BANK OF MEXICO IN ITS CAPACITY AS FINANCIAL AGENT OF THE FEDERAL GOVERNMENT

The Bank of Mexico, in its capacity as financial agent of the Federal Government, with the purpose of continuing to promote the sound development of the financial system, considers it convenient to establish an additional primary placement process for government securities, as part of a general strategy for the management of the Federal Government's liabilities, to be carried out under the terms and conditions instructed by the Secretariat of Finance and Public Credit.

Therefore, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States; 3, fraction III, 7, fraction I, 8, 10, and 14 of the Bank of Mexico Law; 9 of the Organic Law of Nacional Financiera; 6 of the Organic Law of Sociedad Hipotecaria Federal; 9 of the Organic Law of the National Bank of Savings and Financial Services; 9 of the Organic Law of the National Bank of Foreign Trade; 10 of the Organic Law of the National Bank of Public Works and Services; 8 of the Organic Law of the National Bank of the Army, Air Force and Navy; 19 of the Organic Law of the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development; 22 of the Law for Transparency and Orderly Regulation of Financial Services; 4, first paragraph, 8, fourth and seventh paragraphs, 10, first paragraph, 12, first paragraph, in relation to 19 Bis, fraction V, and 17, fraction I, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Central Bank Operations and the Directorate of Central Bank Provisions, respectively; as well as Second, fractions VI and X, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, has resolved to issue the following:

RULES FOR ADDITIONAL AUCTIONS OF GOVERNMENT SECURITIES PLACEMENT CONDUCTED BY THE BANK OF MEXICO IN ITS CAPACITY AS FINANCIAL AGENT OF THE FEDERAL GOVERNMENT

CHAPTER I PRELIMINARY PROVISIONS

1a. Objective.- These Rules aim to establish the terms and conditions under which interested entities, on the one hand, may participate in the Auctions, and on the other hand, must adhere to in the celebration and execution of the Auctions themselves and the acquisition acts derived from them.

2a. Definitions.- For the purposes of these Rules, the following shall be understood:

I. BONDE: The Federal Government Development Bond of the United Mexican States, denominated in national currency or UDIs, both at fixed interest rate and at variable interest rate.

II. Brokerage House: The legal entity authorized to operate as such under the terms provided in the Securities Market Law.

III. CETE: The Treasury Certificate of the Federation of the Federal Government of the United Mexican States, excluding those issued under restructuring programs for credits denominated in UDIs (Special Cete).

IV. DALÍ: The System for the Deposit, Administration and Settlement of Securities administered by INDEVAL.

V. Banking Business Day: The day on which financial entities are not obliged to close their doors or suspend operations, under the terms of the general provisions issued for such effect by the National Banking and Securities Commission.

VI. INDEVAL: The S.D. INDEVAL Institution for the Deposit of Securities, S.A. de C.V.

VII. Development Banking Institution: The National Bank of Foreign Trade, S.N.C., Development Banking Institution; the National Bank of the Army, Air Force and Navy, S.N.C., Development Banking Institution; the National Bank of Savings and Financial Services, S.N.C., Development Banking Institution; Nacional Financiera, S.N.C., Development Banking Institution; the Federal Mortgage Society, S.N.C., Development Banking Institution; and the National Bank of Public Works and Services, S.N.C., Development Banking Institution. Likewise, solely for the purposes of these Rules, without prejudice to what is stated in applicable provisions, it shall be understood that this term also refers to the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development.

VIII. Multiple Banking Institution: The legal entity authorized to act with such character under the terms provided in the Credit Institutions Law.

IX. Credit Institutions: Multiple Banking Institutions and Development Banking Institutions, jointly.

X. Bidder: The Credit Institution, Brokerage House, Investment Fund, Specialized Investment Society for Retirement Funds, as well as any other intermediary expressly authorized for such effect by the Bank of Mexico under the terms of Rule 18a, which is empowered to submit bids in the respective Auctions, under the terms of Rule 9a of these Rules and with respect to which an authorization granted under the terms of Rule 5a of these Rules has been previously presented to the Bank of Mexico prior to the Auction in question.

XI. SIAC-BANXICO: The Bank of Mexico Account Holder Attention System.

XII. Auction: The additional auction for the placement of Securities that the Bank of Mexico, in its capacity as financial agent of the Federal Government, carries out in accordance with the provisions of these Rules.

XIII. UDI: The unit of account, whose value in national currency is published by the Bank of Mexico in the Official Gazette of the Federation, in accordance with Articles Third of the "Decree establishing obligations that may be denominated in investment units and reforming and adding various provisions of the Federal Tax Code and the Income Tax Law" and 20 Ter of the Federal Tax Code.

XIV. Securities: BONDE and CETE, jointly or separately.

The terms mentioned above may be used in singular or plural, without it being understood that their meaning changes.

3a. Interested Entities to Participate in the Auctions.- Only the following persons who meet the requirements established in Rule 5a of these Rules may participate in the Auctions:

I. Credit Institutions; II. Brokerage Houses; III. Investment Funds, who must submit their bids through the Investment Fund Operating Society that provides them with asset administration services; IV. Specialized Investment Societies for Retirement Funds, who will submit their bids through the Retirement Fund Administrator that manages and operates them, and V. Other intermediaries expressly authorized for such effect by the Bank of Mexico under the terms of Rule 18a of these Rules.

4a. Call for Auctions.- The Bank of Mexico will notify Bidders of the calls for Auctions through SIAC-BANXICO, the website << www.banxico.org.mx >>, or, in case said system is unavailable, through any other electronic, computing, or telecommunications medium authorized for such effect by the Bank of Mexico, as notified to Bidders in due course.

In each of the calls referred to in this Rule, the Bank of Mexico will notify the characteristics of the Securities to be offered in the respective Auction, as well as the other characteristics necessary for the conduct of the corresponding Auction.

5a. Requirement to Submit Bids in Auctions.- Credit Institutions and Brokerage Houses interested in participating in the Auctions must previously present to the Operations Management Department an authorization in favor of the Bank of Mexico: (i) when acting on their own behalf, under the terms of Annex 1, and (ii) when they have agreed to provide account management services to the interested parties referred to in fractions III, IV, or V of Rule 3a of these Rules, under the terms of Annex 2. The authorizations must be signed by the person with powers to exercise acts of dominion in the name and representation of the Credit Institutions and Brokerage Houses and must be accompanied by a certified copy and a simple copy of the deed containing the powers referred to. Furthermore, the authorizations must be accompanied by a simple copy of the official identification documents issued by any federal authority for said persons. Interested Credit Institutions and Brokerage Houses must deliver copies of said authorizations to INDEVAL.

In the authorizations referred to in the preceding paragraph, interested Credit Institutions and Brokerage Houses must authorize the Bank of Mexico to: (i) instruct INDEVAL to credit the total amount of the Securities assigned to the securities deposit account that INDEVAL maintains for them; (ii) debit the cash settlement account that INDEVAL maintains for them, and (iii) debit, in the case of default referred to in Rule 16a of these Rules, the national currency account that the Bank of Mexico maintains for them.

The authorizations must be signed at least two Banking Business Days in advance of the date on which the interested parties intend to participate in the respective Auction.

6a. Type of Auctions.- The Auctions may be:

I. Single rate or price: That in which the amount of Securities will be assigned starting from the most convenient bid in terms of rate or price for the Federal Government, in accordance with Rule 11a of these Rules, and the bids that result in assignment will be attended to at the same rate or price, as applicable, of the last bid to receive assignment.

II. Multiple rate or price: That in which the amount of Securities will be assigned starting from the most convenient bid in terms of rate or price for the Federal Government, in accordance with Rule 11a of these Rules, and all bids that result in assignment will be attended to at the rate or price requested in the bid itself.

CHAPTER II BIDS

7a. Characteristics.- Bidders must submit, in each Auction, competitive bids, indicating the following: (i) the issuance key of the Security to be purchased; (ii) the clean price of the BONDE or the discount rate of the CETE, and (iii) the total nominal amount of each bid, expressed in thousands of pesos or UDIs, rounded to multiples of five thousand pesos or UDIs, as applicable.

Regarding CETEs, Bidders must indicate the discount rate expressed in annual percentage terms, rounded to hundredths and based on years of three hundred sixty days. In the case of BONDEs, the unit price must be indicated, rounded to ten-thousandths, and must not include accrued but unpaid interest during the current interest period.

8a. Bid Limits.- The sum of the amounts of bids submitted by the same Bidder in the same Auction must not exceed the total amount indicated in the call for said Auction as corresponding to the total amount of Securities that may be assigned.

9a. Submission of Bids.- Each Bidder may submit one or more bids in an Auction conducted under the same call.

Bidders must submit their bids on the date and time indicated in the respective call, through SIAC-BANXICO.

In case bids cannot be submitted through SIAC-BANXICO, the Bank of Mexico may exceptionally authorize their submission, within the time established for the conduct of the corresponding Auction, through any other electronic, computing, or telecommunications medium authorized for such effect by the Bank of Mexico, as notified to Bidders. In this case, Bidders must confirm their bids via written notice addressed to the National Operations Department of the Bank of Mexico, which must be presented in a sealed envelope no later than 17:00:00 hours on the same Banking Business Day of the respective Auction, and must adhere to the applicable format among those attached to these Rules as Annexes 3 to 6, accompanied by a cover letter, as applicable, for each call of the Securities in question. In case of discrepancy between the terms indicated in the bids submitted under this paragraph and the confirmation communication referred to above, the terms of said bids shall prevail.

The written notice mentioned in the preceding paragraph must be accompanied by the signature specimen that the respective Bidder has previously registered with the Bank of Mexico.

10a. Effects of Bids.- The submission of bids by Bidders in the respective Auctions constitutes evidence of their consent to celebrate the operations subject to said Auctions, under the terms and conditions established in these Rules and in the respective calls. Likewise, the assignment of the amount of Securities by the Bank of Mexico in each Auction perfects said operation at the moment when said assignment is notified to the Bidders who have received the corresponding assignments, and consequently, the latter are obligated to make the payments resulting from said operations, as well as to comply with other related obligations, under the terms of these Rules.

Any bid submitted in an Auction in accordance with these Rules is binding on the Bidder who submits it and is irrevocable.

The Bank of Mexico, upon instruction of the Secretariat of Finance and Public Credit, in the respective Auctions may:

I. Void the bids it receives if they do not comply with these Rules or what is stated in the corresponding call; are not clearly legible; have erasures or corrections; or are incomplete or, in any way, incorrect.

II. Declare the Auction void or reject any bid if, in its judgment, the participation of the same, due to its characteristics, could produce undesirable effects on the sound development of the securities market in particular or the financial system in general.

III. Limit the participation of one or more Bidders when the bids they submit do not comply with sound market practices.

CHAPTER III ASSIGNMENT

11a. Assignment Criteria.- The Bank of Mexico will assign the respective bids in the Auctions as follows:

I. Regarding CETEs:

a) Single rate: Bids will be assigned in ascending order of the corresponding rates. The single rate of the Auction to which bids will be assigned will be that corresponding to the last bid to receive assignment, even if it is partially attended in amount.

b) Multiple rate: Bids will be assigned in ascending order of the corresponding rates. Each bid will be assigned at the rate requested in the bid.

Based on the bids that have received assignment, the weighted average rate of the Auction will be determined.

II. Regarding BONDEs:

a) Single price: Bids will be assigned in descending order of the corresponding unit prices. The single price of the Auction to which bids will be assigned will be that corresponding to the last bid to receive assignment, even if it is partially attended in amount.

b) Multiple price: Bids will be assigned in descending order of the corresponding unit prices. Each bid will be assigned at the unit price requested in the bid.

Based on the bids that have received assignment, the weighted average price of the Auction will be determined.

In case of tied bids and the amount to be assigned is insufficient to attend the total of such bids, they will be attended pro rata with respect to their amount. Likewise, the Bank of Mexico may partially assign the Auctions.

The amounts of Securities to be received by each Bidder who has received assignment will be at nominal value, closed to thousands of pesos or UDIs, as applicable.

CHAPTER IV RESULTS

12a. Report of Auction Results.- The Bank of Mexico will make available to Bidders who have participated in an Auction, through SIAC-BANXICO or through any other electronic, computing, or telecommunications medium authorized for such effect by the Bank of Mexico and notified to Bidders, the general results of the Auction starting from thirty minutes after the deadline for bid submission. Such information will remain available to Bidders through the mentioned medium until the general results of a new Auction are incorporated.

The Bank of Mexico will inform each Bidder who has participated in an Auction individually, through SIAC-BANXICO or through any other electronic, computing, or telecommunications medium authorized for such effect by the Bank of Mexico, starting from thirty minutes after the deadline for bid submission of the respective Auction, the quantity of Securities, if any, that have been assigned to them.

In the event that, due to force majeure or unforeseen circumstances, SIAC-BANXICO cannot be used to notify calls or inform Auction results, the Bank of Mexico will timely communicate the procedure to be followed for such effects.

CHAPTER V SETTLEMENT

13a. Reservation of Ownership.- The Bank of Mexico, by virtue of the provisions of Articles 2312 and 2331 of the Federal Civil Code, reserves ownership of the Securities to be delivered as a result of the Auction, until the moment the Bidder makes the payment of the price of the Securities assigned to them.

14a. Settlement Procedure.- The Bank of Mexico, for the operations referred to in these Rules, on the settlement date indicated in the corresponding call, will proceed to simultaneously carry out the following:

I. Credit to each Bidder the Securities that resulted in assignment in the corresponding Auction, through the delivery against payment procedure via DALÍ, under the terms established in the Internal Regulations of INDEVAL. For this purpose, on said date, the Bank of Mexico will instruct INDEVAL to credit the total amount of Securities to be delivered to each Bidder who resulted in assignment, to the securities deposit account that INDEVAL maintains for the Bidder, and

II. Receive from each Bidder, through the delivery against payment procedure via DALÍ, under the terms established in the Internal Regulations of INDEVAL, in the Bidder's cash settlement account maintained by INDEVAL, the amount equivalent to the national currency value of the Securities subject to the corresponding Auction. To obtain the national currency value, the assigned unit price must be multiplied by the quantity of the corresponding Securities. Regarding BONDEs, the calculation referred to in this paragraph must consider accrued but unpaid interest under the terms provided in Rule 15a of these Rules.

In those cases where the Bidder is any of the persons referred to in fractions III, IV, and V of the first paragraph of Rule 3a of these Rules, the crediting of Securities and the debiting of resources referred to in fractions I and II of this Rule will be carried out through the Credit Institution or Brokerage House that presented the authorization referred to in Rule 5a of these Rules on behalf of said Bidder.

15a. Calculation of Price for Settlement.- The price to be taken for the settlement referred to in numeral II of Rule 14a of these Rules will be carried out as follows:

I. Regarding CETEs, the unit price must be taken without modifications.

II. Regarding BONDEs with fixed interest rate, settlement must be carried out by adding to the assigned unit price the accrued but unpaid interest, from the date of issuance or last interest payment, as applicable, until the settlement date, according to the following formula:

Where: Idev = Accrued interest in national currency or UDIs, as applicable. VN = Nominal value of the title in national currency or UDIs, as applicable. d = Natural days elapsed between the date of issuance of the title or last interest payment, as applicable, and the settlement date. c = Annual interest rate of the Security, expressed in annual percentage terms, rounded to two decimals.

III. Regarding BONDEs with variable interest rate, settlement must be carried out by adding to the assigned unit price the accrued but unpaid interest, from the date of issuance or last interest payment, as applicable, until the settlement date, according to the following formula:

Where: Idev = Accrued interest in national currency. VN = Nominal value of the title. N = Natural days elapsed between the date of issuance of the title or last interest payment, as applicable, and the settlement date. R = Annual interest rate of the title, expressed in annual percentage terms, rounded to two decimals, calculated according to the following formula:

28 (First Section) OFFICIAL GAZETTE Thursday, September 7, 2017

Where: i = Each of the natural days between the issuance date of the title or the last interest payment, as applicable, and the settlement date of the Securities described in these Rules, taking values from 1 to N. = Operator meaning to perform the multiplication of the N factors within parentheses. ri = The annual interest rate, expressed in percentage terms rounded to two decimal places, at which Credit Institutions and Brokerage Houses carry out spot and forward sale and repurchase operations for one Banking Business Day with bank titles, known in the market as the "Weighted Interbank Funding Rate," calculated and made known on day i by the Bank of Mexico, in terms of the publication in the Official Gazette of the Federation of July 31, 2000, through its internet page or through any other electronic, computing, or telecommunications medium authorized for this purpose by the Bank of Mexico itself. In the latter case, the Bank of Mexico will promptly inform the medium through which such rate will be disseminated.

In the case of days that are not Banking Business Days, the annual interest rate that was made known on the immediately preceding Banking Business Day will be used.

In the event that this interest rate cannot be determined or ceases to be made known, the Bank of Mexico will request in writing from two societies that administer systems to facilitate securities operations (brokerage houses) selected upon proposal of the Mexican Bank Association, A.C., the average of the spot and forward sale and repurchase operations for one Banking Business Day with bank titles. The Bank of Mexico will calculate the average of the two interest rates obtained for its determination and will make known the result in the manner and means mentioned, as a substitute interest rate for the aforementioned one.

16a. Default.- In the event that a Bidder does not make the total payment of the Securities assigned to them, the Bank of Mexico may, without the need for a judicial declaration, rescind the sale for the uncovered amount.

In the case referred to in the preceding paragraph, the Bidder in question must pay the Bank of Mexico an amount equivalent to one percent of the nominal amount of the Securities that were not timely covered with the Bank of Mexico.

For the purposes of the foregoing, the Bank of Mexico will charge the amount referred to in the preceding paragraph on the Banking Business Day following the day of default, to the national currency account that the Bank of Mexico holds for the Credit Institution or the Brokerage House, in terms of the authorizations referred to in the first paragraph of Article 5a of these Rules.

Without prejudice to the foregoing, the Bank of Mexico may disqualify the Bidder in question from participating in the Auctions.

CHAPTER VI GENERAL PROVISIONS

17a. Modifications to the Auction.- The Bank of Mexico may modify the dates, times, and deadlines mentioned in the calls in the event that circumstances occur that prevent strict observance of the procedure and other acts related to the Auction in question. In such event, the Bank of Mexico will inform the referred modifications through the SIAC-BANXICO or through any other electronic, computing, or telecommunications medium authorized for this purpose by the Bank of Mexico and made known to the Bidders.

Thursday, September 7, 2017 OFFICIAL GAZETTE (First Section) 29 electronic, computing, or telecommunications medium authorized for this purpose by the Bank of Mexico and made known to the Bidders.

18a. Authorization of other persons to submit bids.- The Bank of Mexico may authorize other financial entities other than those indicated in fractions I to IV of Article 3a of these Rules to submit bids in the Auctions. For these purposes, the interested entities wishing to participate as Bidders must submit their request to the Bank of Mexico, through the Management of Authorizations, Queries, and Legal Control. The authorization that, if any, the Bank of Mexico grants may be limited or revoked at any time and, by its very nature, will be non-transferable.

ANNEX 1 MODEL OF AUTHORIZATION IN FAVOR OF THE BANK OF MEXICO TO EFFECT CHARGES AND CREDITS IN THE ACCOUNTS OF CREDIT INSTITUTIONS AND BROKERAGE HOUSES THAT SUBMIT BIDS (LETTERHEAD OF THE CREDIT INSTITUTION OR BROKERAGE HOUSE) Mexico City, on _____ of ___________________ of _________. BANK OF MEXICO OPERATIONS MANAGEMENT DEPARTMENT 5 de Mayo Avenue, No. 6 Col. Centro, C.P. 06000, Mexico City. (FULL NAME OF THE CREDIT INSTITUTION OR BROKERAGE HOUSE) hereby authorizes and instructs irrevocably the Bank of Mexico to process on our behalf, in the cash and securities accounts held for us by the S.D. INDEVAL Securities Depository Institution, S.A. de C.V., the charges and credits necessary derived from the settlement of operations with government securities carried out by this society under the "Rules for the additional auctions for the placement of government securities conducted by the Bank of Mexico in its capacity as financial agent of the Federal Government," contained in Circular 17/2017 of the Bank of Mexico. For such purposes, that Central Bank will send the corresponding instructions to said securities depository institution so that the respective records are made.

Likewise, hereby authorizes and instructs irrevocably that Central Bank to effect charges in the national currency account that the Bank of Mexico itself holds for us, for any other amount that this society must cover by virtue of any non-compliance with the provisions of the aforementioned Rules.

Finally, we make known to you that the authorizations and instructions referred to in this document may only be modified or revoked through written communication addressed to that Central Bank and presented with, at least, two Banking Business Days in advance of the date on which the respective modification or revocation is intended to take effect. It being understood that the modification or revocation will not be applicable with respect to charges and credits resulting from bids submitted by this society prior to such communication taking effect.

Sincerely,

30 (First Section) OFFICIAL GAZETTE Thursday, September 7, 2017 (FULL NAME OF THE CREDIT INSTITUTION OR BROKERAGE HOUSE) (NAME, POSITION AND SIGNATURE OF PERSON(S) WITH AUTHORITY TO PERFORM ACTS OF DOMINION) C.c.p.: S.D. INDEVAL Securities Depository Institution, S.A. de C.V. For your information.

ANNEX 2 MODEL OF AUTHORIZATION IN FAVOR OF THE BANK OF MEXICO TO EFFECT CHARGES AND CREDITS IN THE ACCOUNTS OF A CREDIT INSTITUTION OR A BROKERAGE HOUSE ON BEHALF OF ANOTHER BIDDER (LETTERHEAD OF THE CREDIT INSTITUTION OR BROKERAGE HOUSE) Mexico City, on _____ of ___________________ of _________. BANK OF MEXICO OPERATIONS MANAGEMENT DEPARTMENT 5 de Mayo Avenue, No. 6 Col. Centro, C.P. 06000, Mexico City, (FULL NAME OF THE CREDIT INSTITUTION OR BROKERAGE HOUSE) hereby authorizes and instructs irrevocably the Bank of Mexico to process on our behalf, in the cash and securities accounts held for us by the S.D. INDEVAL Securities Depository Institution, S.A. de C.V., the charges and credits necessary derived from the settlement of operations with government securities that as a result of the auction are assigned to (FULL NAME OF THE BIDDER) under the "Rules for the additional auctions for the placement of government securities conducted by the Bank of Mexico in its capacity as financial agent of the Federal Government," contained in Circular 17/2017 of the Bank of Mexico. For such purposes, that Central Bank will send the corresponding instructions to said securities depository institution so that the respective records are made.

Likewise, hereby authorizes and instructs irrevocably that Central Bank to effect charges in the national currency account that the Bank of Mexico itself holds for us, for any other amount that (FULL NAME OF THE BIDDER) must cover by virtue of any non-compliance with the provisions of the aforementioned Rules.

Finally, we make known to you that the authorizations and instructions referred to in this document may only be modified or revoked through written communication addressed to that Central Bank presented with, at least, two Banking Business Days in advance of the date on which the respective modification or revocation is intended to take effect. It being understood that the modification or revocation will not be applicable with respect to charges and credits resulting from bids submitted by (FULL NAME OF THE BIDDER) prior to such communication taking effect.

Sincerely, (FULL NAME OF THE CREDIT INSTITUTION OR BROKERAGE HOUSE) (NAME, POSITION AND SIGNATURE OF PERSON(S) WITH AUTHORITY TO PERFORM ACTS OF DOMINION)

Thursday, September 7, 2017 OFFICIAL GAZETTE (First Section) 31 C.c.p.: S.D. INDEVAL Securities Depository Institution, S.A. de C.V. For your information. C.c.p.: (FULL NAME OF THE BIDDER). For your information.

ANNEX 3 (LETTERHEAD OF THE FINANCIAL INSTITUTION) MODEL OF REQUEST TO PARTICIPATE IN THE ADDITIONAL AUCTION FOR THE PLACEMENT OF FEDERAL GOVERNMENT DEVELOPMENT BONDS WITH FIXED INTEREST RATE (BONOS) BANK OF MEXICO NATIONAL OPERATIONS DEPARTMENT 5 de Mayo Avenue, No. 6 Col. Centro, C.P. 06000, Mexico City. Present REQUEST ON OWN ACCOUNT Mexico City, on _____ of ___________________ of _________. Bidder Name: ______________________ Bidder Key at the Bank of Mexico: ______________________ Key of the requested BONO issuance: _______________ (YYMMDD) Term of the requested issuance: ________________ (days) BIDS: Clean Price Amount . thousand pesos . thousand pesos . thousand pesos Prices must be expressed up to FIVE decimal places. This communication serves to confirm the bids presented to the Bank of Mexico today by the bidders on behalf of the person subscribing this same communication to participate in the Auctions, which correspond to those referred to the data preceding. Regarding this, this society acknowledges that the bids indicated in this communication are binding for the society itself and irrevocable, will produce the broadest effects in law, and imply the acceptance of the society itself to be subject to the "Rules for the additional auctions for the placement of government securities conducted by the Bank of Mexico in its capacity as financial agent of the Federal Government," issued by the Bank of Mexico through Circular 17/2017, in force today, as well as to the other terms and conditions of the call dated ______ of ______________________ of ______. The terms included in this communication with an initial capital letter have the meanings assigned to them in the cited Rules.

32 (First Section) OFFICIAL GAZETTE Thursday, September 7, 2017 Sincerely, 1 (FULL NAME OF THE BIDDER) (NAME AND SIGNATURE OF AUTHORIZED OFFICIALS) NOTE: Unused spaces must be cancelled. 1 This document must show the signature knowledge granted by the Bank of Mexico, therefore these signatures must be registered at the Bank of Mexico itself.

ANNEX 4 (LETTERHEAD OF THE FINANCIAL INSTITUTION) MODEL OF REQUEST TO PARTICIPATE IN THE ADDITIONAL AUCTION FOR THE PLACEMENT OF FEDERAL GOVERNMENT DEVELOPMENT BONDS DENOMINATED IN INVESTMENT UNITS (UDIBONOS) BANK OF MEXICO NATIONAL OPERATIONS DEPARTMENT 5 de Mayo Avenue, No. 6 Col. Centro, C.P. 06000, Mexico City. Present REQUEST ON OWN ACCOUNT Mexico City, on _____ of ___________________ of _________. Bidder Name: ______________________ Bidder Key at the Bank of Mexico: ______________________ Key of the requested UDIBONO issuance: ______________ (S YYMMDD) Term of the requested issuance: ________________ (days) BIDS: Clean Price Amount . thousand UDIS . thousand UDIS . thousand UDIS Prices must be expressed up to FIVE decimal places. This communication serves to confirm the bids presented to the Bank of Mexico today by the bidders on behalf of the person subscribing this same communication to participate in the Auctions, which correspond to those referred to the data preceding. Regarding this, this society acknowledges that the bids indicated in this communication are binding for the society itself and irrevocable, will produce the broadest effects in law, and imply the acceptance of the society itself to be subject to the "Rules for the additional auctions for the placement of government securities conducted by the Bank of Mexico in its capacity as financial agent of the Federal Government," issued by the Bank of Mexico through Circular 17/2017, in force today, as well as to the other terms and conditions of the call dated ______ of ______________________ of ______. The terms included in this communication with an initial capital letter have the meanings assigned to them in the cited Rules.

Thursday, September 7, 2017 OFFICIAL GAZETTE (First Section) 33 Sincerely, 1 (FULL NAME OF THE BIDDER) (NAME AND SIGNATURE OF AUTHORIZED OFFICIALS) NOTE: Unused spaces must be cancelled. 1 This document must show the signature knowledge granted by the Bank of Mexico, therefore these signatures must be registered at the Bank of Mexico itself.

ANNEX 5 (LETTERHEAD OF THE FINANCIAL INSTITUTION) MODEL OF REQUEST TO PARTICIPATE IN THE ADDITIONAL AUCTION FOR THE PLACEMENT OF FEDERAL GOVERNMENT DEVELOPMENT BONDS WITH VARIABLE INTEREST RATE (BONDES D) BANK OF MEXICO NATIONAL OPERATIONS DEPARTMENT 5 de Mayo Avenue, No. 6 Col. Centro, C.P. 06000, Mexico City. Present REQUEST ON OWN ACCOUNT Mexico City, on _____ of ___________________ of _________. Bidder Name: ______________________ Bidder Key at the Bank of Mexico: ______________________ Key of the requested BONDE D issuance: ______________ (L YYMMDD) Term of the requested issuance: ________________ (days) BIDS: Clean Price Amount . thousand pesos . thousand pesos . thousand pesos Prices must be expressed up to FIVE decimal places. This communication serves to confirm the bids presented to the Bank of Mexico today by the bidders on behalf of the person subscribing this same communication to participate in the Auctions, which correspond to those referred to the data preceding. Regarding this, this society acknowledges that the bids indicated in this communication are binding for the society itself and irrevocable, will produce the broadest effects in law, and imply the acceptance of the society itself to be subject to the "Rules for the additional auctions for the placement of government securities conducted by the Bank of Mexico in its capacity as financial agent of the Federal Government," issued by the Bank of Mexico through Circular 17/2017, in force today, as well as to the other terms and conditions of the call dated ______ of ______________________ of ______. The terms included in this communication with an initial capital letter have the meanings assigned to them in the cited Rules.

34 (First Section) OFFICIAL GAZETTE Thursday, September 7, 2017 Sincerely, 1 (FULL NAME OF THE BIDDER) (NAME AND SIGNATURE OF AUTHORIZED OFFICIALS) NOTE: Unused spaces must be cancelled. 1 This document must show the signature knowledge granted by the Bank of Mexico, therefore these signatures must be registered at the Bank of Mexico itself.

ANNEX 6 (LETTERHEAD OF THE FINANCIAL INSTITUTION) MODEL OF REQUEST TO PARTICIPATE IN THE ADDITIONAL AUCTION FOR THE PLACEMENT OF TREASURY CERTIFICATES OF THE FEDERATION (CETES) BANK OF MEXICO NATIONAL OPERATIONS DEPARTMENT 5 de Mayo Avenue, No. 6 Col. Centro, C.P. 06000, Mexico City. Present REQUEST ON OWN ACCOUNT Mexico City, on _____ of ___________________ of _________. Bidder Name: ______________________ Bidder Key at the Bank of Mexico: ______________________ Key of the requested CETE issuance: __________________ (B YYMMDD) Term of the requested issuance: ________________ (days) BIDS: Discount Rate Amount . thousand pesos . thousand pesos . thousand pesos Rates must be expressed in annual percentage terms with TWO decimal places. This communication serves to confirm the bids presented to the Bank of Mexico today by the bidders on behalf of the person subscribing this same communication to participate in the Auctions, which correspond to those referred to the data preceding. Regarding this, this society acknowledges that the bids indicated in this communication are binding for the society itself and irrevocable, will produce the broadest effects in law, and imply the acceptance of the society itself to be subject to the "Rules for the additional auctions for the placement of government securities conducted by the Bank of Mexico in its capacity as financial agent of the Federal Government," issued by the Bank of Mexico through Circular 17/2017, in force today, as well as to the other terms and conditions of the call dated ______ of ______________________ of ______. The terms included in this communication with an initial capital letter have the meanings assigned to them in the cited Rules. Sincerely, 1 (FULL NAME OF THE BIDDER) (NAME AND SIGNATURE OF AUTHORIZED OFFICIALS) NOTE: Unused spaces must be cancelled. 1 This document must show the signature knowledge granted by the Bank of Mexico, therefore these signatures must be registered at the Bank of Mexico itself.

Thursday, September 7, 2017 OFFICIAL GAZETTE (First Section) 35 TRANSITORY SINGLE.- These Rules will enter into force on the Banking Business Day following their publication in the Official Gazette of the Federation. Mexico City, on September 5, 2017.- The General Director of Central Banking Operations, Jaime José Cortina Morfín.- Rubric.- The Director of Central Banking Provisions, Mario Ladislao Tamez López Negrete.- Rubric. For any queries regarding the content of this Circular, please contact the Management of Authorizations, Queries, and Legal Control, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000 Ext. 3200.