Regulatory Alerts2008-09-01 | Circular 40/2008Added
Circular 40/2008 — Modification of Circular 115/2002
The Bank of Mexico amends sections CB.7 and related definitions in Circular 115/2002 to establish procedures for market makers purchasing government securities and engaging in lending operations with the central bank as the federal government's financial agent. The amendments update the definition of 'OFFICE' to reference Office No. 305.-065/2008, set submission windows for purchase requests between 8:45:00 and 9:00:00 hours on the business day following auction results, and specify fax and written confirmation protocols for electronic failures. Additionally, the rules clarify that Indeval handles security delivery on the placement day, authorize contract rescission for non-payment without judicial declaration, and mandate payment of premiums upon maturity of loan operations.
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