Regulatory Alerts2011-08-10 | Circular 19/2011Added
Circular 19/2011 — Modifies Circular 14/2011
The Bank of Mexico amends Circular 14/2011 to allow multiple banking institutions to exclude interest, electronic fund transfer refunds, and other account bonuses from the calculation of maximum monthly credits for Level 1, 2, and 3 accounts. The amendment also extends the deadline for issuing, activating, and placing national currency prepaid bank cards until May 31, 2012, to facilitate the transition of banking products. These changes take effect on August 11, 2011, modifying section M.11.11.11 and the First and Third Transitory provisions of the original circular.