Regulatory Alerts2008-12-01 | Circular 59/2008Added
Circular 59/2008 — Modifies Circular 2019/95
The Bank of Mexico amends sections M.71.12.41, 1.21.3, and 5.3 of Circular 2019/95 to allow U.S. dollar deposits held by multiple banking institutions to serve as collateral for overdrafts, TIIE-related credits, and liquidity auction credits. The regulation mandates that these deposits be segregated into a special guarantee account via SIAC-BANXICO or authorized electronic means, with the guarantee value calculated using the published exchange rate minus a discount factor. New standardized request forms are added to Annexes 1, 4, and 5 to facilitate this segregation, and the circular entered into force on December 1, 2008.
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