Regulatory Alerts2008-09-02 | Circular 41/2008Added
Circular 41/2008 — Modifies Circular 2019/95
The Bank of Mexico modifies specific provisions of Annex 1 of Circular 2019/95 to update the procedure for determining the National Currency Interbank Equilibrium Interest Rate (TIIE). The amendments establish that quotations must be submitted by 12:00:00 hours, require a minimum of six participating institutions, and define fallback procedures for obtaining additional quotations at 12:15:00 and 12:30:00 hours if the minimum threshold is not met. The document also updates rules regarding the formalization of credit and repo operations, the handling of insufficient guarantees, and the allocation of gains, with the circular entering into force on September 5, 2008.
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