Regulatory Alerts2020-07-13 | Circular 28/2020Added
Circular 28/2020 — Modifies Circular 3/2012 (Interest Rate for Open Market Operations)
The Bank of Mexico modifies Articles 177, 184, 186, 187, 188, 189, 192, 194, and 195 Bis 4 of Circular 3/2012 to align the interest rates for open market operations with the monetary policy target rate. The amendments require that interest rates on liquidity and deposit auctions adjust automatically in basis points whenever the Bank of Mexico's Governing Board modifies the target rate during the operation's term. These changes apply to credit institutions, regulated multiple-object financial societies with equity links to credit institutions, and the National Agricultural, Rural, Forestry and Fisheries Development Financial Institution, and enter into force upon publication in the Official Gazette.
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