Regulatory Alerts2008-02-13 | Circular 4/2008Added
Circular 4/2008 — Modifies Circular 2019/95
The Bank of Mexico amends definitions and operational rules within Circular 2019/95 regarding the Compensation and Fund Transfer system (SICAM). The changes update the definition of the Chamber System (SICAM), mandate equal voting rights for associated institutions in clearing chambers, and require prior Bank of Mexico approval for multilateral contracts and operational manuals. Additionally, Annex 26 is revised to establish the priority order for settling payment obligations and define the algorithm for covering negative balances using SIAC-BANXICO funds, credit lines, and bilateral credit facilities.
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