Regulatory Alerts2015-11-26 | Circular 18/2015Added
Circular 18/2015 — Auctions for the Swap of Limited Negotiability Monetary Regulation Bonds (BREMS L) for Reportable Monetary Regulation Bonds (BREMS R)
The Bank of Mexico establishes rules allowing credit institutions to swap Limited Negotiability Monetary Regulation Bonds (BREMS L) assigned in the June 18, 2014 auction for Reportable Monetary Regulation Bonds (BREMS R) through fixed-price auctions at $100.00 MXN. Eligible participants must submit irrevocable bids specifying bond details and amounts, with assignments allocated up to a maximum announced volume of BREMS R. The settlement process involves the exchange of bond titles via DALÍ and cash adjustments for accrued interest in the Unique Account, with a 1% penalty applied to the nominal value of any undelivered BREMS L in case of default.
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