Regulatory Alerts2023-06-07 | Circular 5/2023Added · Updated
Circular 5/2023 — Modifications to Circular 7/2022 (Inclusion of MS Bonds and Use of the Bank of Mexico’s Integrated Auction System)
Circular 5/2023 modifies the Rules for Syndicated Auctions of Government Bonds Aligned to Environmental, Social, and Governance (ESG) Criteria to include MS Bonds (BONOS MS) and authorize the use of the Bank of Mexico’s Integrated Auction System (SIS) for submitting bids. The amendment defines MS Bonds as national currency, fixed-rate debt instruments issued by the Federal Government and aligned with ICMA standards, and updates definitions for DALI, Advanced Electronic Signature, Final Investor, SIAC-BANXICO, and SIS. It establishes that bids must be submitted via SIS or authorized electronic means, specifies bid limits and pricing requirements, and details settlement procedures, including the calculation of accrued interest for fixed and variable rate bonds.
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