Regulatory Alerts2007-10-03 | Circular 4/2007Added
Circular 4/2007 — Modifies Circular 115/2002
Effective November 1, 2007, the Bank of Mexico modifies definitions and procedures in Circular 115/2002 regarding market makers' rights to purchase government securities and conduct securities lending operations with the Bank of Mexico. The amendments update the definitions of Indeval, Market Makers, and Official Document, and establish that securities lending operations must be executed through INDEVAL using the VALPRE-E electronic procedure, with premiums paid in two stages. Market makers must sign new contracts incorporating these modifications, while existing contracts are rescinded on October 31, 2007. To facilitate the signing of new contracts, market makers were required to submit specific documentation and execute agreements starting October 4, 2007.
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