CIRCULAR 19/2010

Mexico City, June 16, 2010

TO MULTIPLE BANKING INSTITUTIONS:

SUBJECT: MODIFICATIONS TO CIRCULAR 2019/95

The Bank of Mexico, based on what is provided in Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 24, 26, and 32 of the Bank of Mexico Law; 48 of the Credit Institutions Law; 22 of the Law for Transparency and Orderly Conduct of Financial Services; 8th paragraphs third and sixth, 10 first paragraph, 14 first paragraph in relation to section II of Article 25 and section I of Article 17 of the Internal Regulations of the Bank of Mexico, which grant the Bank of Mexico the authority to issue provisions through the General Directorate of Analysis of the Financial System and the Central Banking Provisions Directorate, respectively, as well as the Single Provision of the Agreement on the Attachment of Administrative Units of the Bank of Mexico, sections III and IV, and considering the modifications to the "General Provisions referred to in Article 115 of the Credit Institutions Law" carried out by the Ministry of Finance and Public Credit, published in the Official Journal of the Federation on June 16, 2010, has resolved to add a second paragraph to numeral M.12.23., numeral M.28., as well as a fourth paragraph of numeral M.51.2, all of Circular 2019/95, to remain in the following terms:

M.12. CHARACTERISTICS OF FOREIGN CURRENCY OPERATIONS

M.12.2 TIME DEPOSITS PAYABLE OVERSEAS

M.12.23. AMOUNTS

...

The deposits referred to in the preceding paragraph that are received in U.S. dollars in cash shall be subject to what is provided in the "General Provisions referred to in Article 115 of the Credit Institutions Law" issued by the Ministry of Finance and Public Credit.

M.2 ASSET OPERATIONS

M.28. REPAYMENT OF LOANS WITH U.S. DOLLARS IN CASH

The repayment of loans with U.S. dollars in cash that institutions receive shall be subject to what is provided in the "General Provisions referred to in Article 115 of the Credit Institutions Law" issued by the Ministry of Finance and Public Credit.

M.5 OPERATIONS WITH FOREIGN CURRENCIES AND PRECIOUS METALS

M.51. PURCHASE, SALE, AND SWAP OPERATIONS OF FOREIGN CURRENCIES AND PRECIOUS METALS

M.51.2 OPERATIONS

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The purchase of U.S. dollars in cash that institutions carry out pursuant to this numeral shall be subject to what is provided in the "General Provisions referred to in Article 115 of the Credit Institutions Law," issued by the Ministry of Finance and Public Credit.

TRANSITORY PROVISION

SINGLE. This Circular shall enter into force on June 21, 2010.