Regulatory Alerts2008-02-19 | Circular 6/2008Added
Circular 6/2008 — Modifications to Circular 2019/95
This circular modifies the operating hours of the SIAC-BANXICO payment system and establishes an alternative liquidation procedure for institutions transacting with CLS Bank International in the event of SPEI contingencies. It adds numeral M.71.12.5, requiring affected institutions to authorize Banco de México to debit or credit their Unique Accounts via a mandate filed at least ten business days prior to initiating operations. Additionally, it amends numeral M.72.31 to extend the daily window for fund transfer orders from 00:00:00 to 17:00:00 Mexico City time and includes Annex 29 as the model for the required mandate. These changes take effect on February 25, 2008.
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