Regulatory Alerts2020-10-12 | Circular 38/2020Added · Updated
Circular 38/2020 — Modifies Circular 3/2012
Bank of Mexico modifies Circular 3/2012 to expand the range of eligible foreign currency liquid assets by including long-term foreign currency debt issued by the Federal Government and to adjust the treatment of foreign currency deposit accounts with checkbooks to align with general demand deposit accounts. The regulation introduces a new definition for Foreign Currency to be Received, updates credit rating requirements for liquidity requirements, and establishes specific weighting factors for foreign currency demand deposits under the investment regime. 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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