Circular 42/2010 — Modifies Circular 2019/95

CIRCULAR 42/2010 Mexico, D.F., December 16, 2010. TO MULTIPLE BANKING INSTITUTIONS: SUBJECT: MODIFICATIONS TO CIRCULAR 2019/95

The Bank of Mexico, with the objective of promoting the sound development of the financial system and to standardize the deadline for announcing the results of auctions conducted for monetary regulation purposes, considers it appropriate to modify the period established for this effect in the rules applicable to the "Auctions of Deposits, Monetary Regulation Bonds, and Government Securities conducted by the Bank of Mexico," contained in Annex 7 of Circular 2019/95.

For the foregoing, based on Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 3rd, fraction III, 7th, fractions I and VI, 8th, 9th, 10, 14, 17, and 24 of the Bank of Mexico Law; 22 of the Law for Transparency and Ordering of Financial Services; as well as 8th, fourth and seventh paragraphs, 10, 14 Bis in relation with 17, fraction I, and 19, fraction VII, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Direction and the Operations Direction, respectively; as well as the Single Provision of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, fractions VII and XII; it has resolved to modify numeral 5 of Annex 7 of the aforementioned Circular 2019/95, under the following terms:

5. AUCTION RESULTS.

"The results of the auctions will be available through the SIAC-BANXICO within sixty minutes following the expiration of the deadline for the submission of bids in each auction."

TRANSITIONAL PROVISION

SINGLE. This Circular shall enter into force on December 17, 2010.