Regulatory Alerts2009-03-05 | Circular 6/2009Added
Circular 6/2009 — US Dollar Sales Auctions Without Minimum Price
The Bank of Mexico establishes temporary daily auctions for the sale of US dollars to financial institutions without setting a minimum price, utilizing either traditional or interactive formats based on multiple-price allocation. The regulation defines submission procedures via the SIAC-BANXICO system, mandates that bids are binding and irrevocable, and outlines allocation rules including pro-rata distribution for ties in traditional auctions and first-come-first-served for interactive ones. It further specifies that unallocated dollar amounts are carried over to subsequent auctions and details the procedures for handling system failures or force majeure events.
More like this from BANXICO
We email you every new BANXICO publication the day it's published.