Regulatory Alerts2020-08-27 | Circular 32/2020Added · Updated
Circular 32/2020 — Modifies Circular 25/2020
The Bank of Mexico modifies the rules for financing guaranteed by qualified credit assets to channel resources to micro, small, and medium-sized enterprises (MSMEs) by adding a new category of eligible credits. These new credits are those granted to fiduciary institutions managing irrevocable trusts funded by federal participable revenue, allowing multiple banking institutions to use them as collateral for Bank of Mexico facilities. The amendment requires that such credits be granted exclusively by multiple banking institutions and mandates the substitution of these specific assets with other eligible assets or special guarantee values if the underlying revenue mechanism's terms change or legal proceedings threaten its validity. The circular enters into force on the date of its publication in the Official Journal of the Federation.
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