Regulatory Alerts2023-04-12 | Circular 4/2023Added · Updated
Circular 4/2023 — Modifications to Circular 3/2012 (Interbank Equilibrium Interest Rate for Terms Greater Than One Banking Business Day)
The Bank of Mexico modifies the methodology for calculating the Interbank Equilibrium Interest Rate (TIIE) for terms greater than one banking business day to ensure it is based on actual market transactions, restricting its use as a reference for new operations from specified dates. The circular repeals numerous articles and annexes from Circular 3/2012 that governed the previous determination and publication procedures, replacing them with a calculation formula based on the overnight interbank rate and the monetary policy target rate. It also updates provisions regarding special guarantees for liquidity auctions, including new calculation methods for collateral values and updated forms for segregation requests and mandates.
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