Regulatory Alerts2015-10-20 | Circular 3/2014Added
Circular 3/2014 — Modifies Circular 7/2011
The Bank of Mexico amends the procedure for market makers to exercise their right to purchase government securities (BONOS, CETES, and UDIBONOS) and to conduct loan operations with the Bank. Specifically, it prohibits market makers from exercising purchase rights during the week of syndicated auctions for BONOS or UDIBONOS, authorizes the Bank to rescind sales for unpaid amounts and allows the Ministry of Finance to remove institutions from the market maker role for non-payment, and updates documentation requirements for VALPRE-E operations to require submission at least ten business days prior to initiation. These modifications apply to credit institutions and brokerage houses acting as market makers.
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