Regulatory Alerts2011-11-17 | Circular 21/2011Added
Circular 21/2011 — Modifies Circular 2019/95
This circular modifies Annex 5 of Circular 2019/95 to adjust the liquidation and settlement procedures for repo operations generated from liquidity auctions. It mandates that if a reporting institution lacks sufficient funds in its Single Account to settle repo obligations by 17:55 hours, the Bank of Mexico will execute new repo operations via SAGAPL due the next banking day. Additionally, the Bank will charge the institution an amount calculated based on the base amount and the Banked Funding Weighted Rate, and establishes specific documentation requirements for contracts, including certified copies of powers of attorney and irrevocable mandates.
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