Regulatory Alerts2008-11-06 | Circular 55/2008Added
Circular 55/2008 — Modifies the Repo Rules
The Bank of Mexico amends the definitions of "Securities" and "Foreign Securities" and the authorized counterparties for repo operations to expand the universe of eligible titles. Credit institutions and brokerage houses acting as repo-takers with qualified investors or individuals must ensure securities are rated by at least two internationally recognized agencies, as specified in Annexes 1, 2, and 3. These modifications apply to credit institutions, brokerage houses, investment societies, specialized retirement fund societies, and the Rural Financial Institution, entering into force on November 6, 2008.
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