Regulatory Alerts2026-01-05 | Circular 3/2026Added
Circular 3/2026 — Modifications to Circular 3/2012 (Characteristics of Open Market Operations)
The Bank of Mexico amends Circular 3/2012 to expand the catalog of eligible securities for open market operations and special guarantees, adding US Treasury securities, development bank debt, and foreign-custodied debt. It modifies definitions for terms such as "SAGAPL," "SICAM," and "UDIBONOS," and updates articles governing repo contracts, collateral valuation, and the substitution or withdrawal of special guarantees. 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.
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