Regulatory Alerts2017-09-19 | Circular 18/2017Added
Circular 18/2017 — Exemptions for Force Majeure Cases Occurring on September 19, 2017
The Bank of Mexico exempts credit institutions and payment system participants from sanctions, penalties, and administrative procedures for overdrafts, settlement failures, or unpaid repo operations that occurred on September 19, 2017, due to the earthquake in central Mexico. Overdrafts in the Single Account are not subject to corresponding actions, and settlement obligations are exempt from administrative sanctioning procedures. Unsettled repo operations are automatically renewed at the interest rate determined by the Bank of Mexico for ordinary non-renewed repos. This resolution entered into force on the date of its publication, September 22, 2017.
More like this from BANXICO
We email you every new BANXICO publication the day it's published.