Regulatory Alerts2009-02-09 | Circular 2/2009Added
Circular 2/2009 — Modifies Circular 2/2005
The Bank of Mexico modifies the Rules for the Exchange of Fixed-Rate Development Bonds and Udibonos to allow auctions where the Ministry of Finance, with the Bank's opinion, sets the price of target or liquidation issuances. The amendment updates sections 2, 5.1, 5.2, 6.1, 6.2, 6.3, 8.3, Appendix 1, and Appendix 3 to define bid types, limits, allocation methods for single and multiple-price auctions, and settlement formulas including accrued interest calculations. Credit institutions, securities companies, investment companies, and specialized investment companies for retirement funds are required to comply with these revised rules, which entered into force on February 9, 2009.
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