Regulatory Alerts2014-07-08 | Circular 2/2014Added
Circular 2/2014 — Modifies Circular 5/2011
Circular 2/2014 amends sections 4.1.3 and 7.1.3 of the procedure for acting as Market Makers for Government Securities. It prohibits Market Makers from exercising their purchase option rights for BONOS and UDIBONOS during the week in which a syndicated auction for the placement of these securities takes place. This restriction applies regardless of the maturity term of the securities referenced in the corresponding syndicated auction.
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