Regulatory Alerts2008-10-16 | Circular 49/2008Added
Circular 49/2008 — Modifies Circular 48/2008
The Bank of Mexico amends section 1.2 of the 'Rules Applicable to the Exercise of Financing' in Circular 48/2008 to update the list of eligible securities for repo operations. The revision excludes CETES issued under credit restructuring programs, adds BPAS and BREMS, and sets specific eligibility criteria for debt securities issued by state entities, municipalities, international organizations, and non-financial or financial resident companies, requiring INDEVAL deposit and, for certain issuers, at least two AA-equivalent credit ratings. The amendment also mandates that eligible securities have a maturity exceeding the repo operation term and a value equal to or greater than the sum of the price and premium, with the Bank of Mexico providing market valuations and discount factors. This circular enters into force on October 16, 2008.
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