Circular 5/2017 — Modifications to Circular 3/2017

Monday, March 6, 2017 OFFICIAL GAZETTE (First Section) BANK OF MEXICO CIRCULAR 5/2017 addressed to credit institutions, regarding the Modifications to Circular 3/2017 which contains the rules for foreign exchange coverage auctions.

At the margin a logo, which says: Bank of Mexico.

CIRCULAR 5/2017
TO CREDIT INSTITUTIONS:
SUBJECT: MODIFICATIONS TO CIRCULAR 3/2017
WHICH CONTAINS THE RULES FOR FOREIGN EXCHANGE COVERAGE AUCTIONS

The Bank of Mexico, based on articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 7, paragraph first, fraction X and paragraph second, 14, 21, paragraph first, 22, fraction II, 24 and 32, of the Bank of Mexico Law, 22 of the Law for Transparency and Order of Financial Services, 8, paragraphs fourth and seventh, 10, paragraph first, 14 Bis, paragraph first, in relation with 17, fraction I, and 19 Bis I, fraction XI, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Directorate and the Operations Support Directorate, respectively, as well as Second, fractions VI and X, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, in order to facilitate the procedures that credit institutions must comply with for the celebration of foreign exchange coverage operations provided for in the Rules for Foreign Exchange Coverage Auctions, contained in Circular 3/2017, published in the Official Journal of the Federation on February 24, 2017, has resolved to eliminate the phrase “Name, signature and position of the official or officials of the Institution with powers to exercise acts of dominion” included in Annexes 4 and 7 of said Rules and, in its place, add the phrase “Name, signature and position of the official or officials of the Institution”. The provisions of this resolution shall enter into force on the day of its publication in the Official Journal of the Federation.

Mexico City, March 3, 2017.- The General Legal Director, Luis Urrutia Corral.- Rubric.- The Operations Support Director, Joaquín Rodrigo Cano Jauregui Segura Millan.- Rubric.

For any inquiries regarding the content of this Circular, please contact the Authorization, Consultations and Legal Control Management, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000, extension 3200.