Regulatory Alerts2015-03-13 | Circular 6/2015Added
Circular 6/2015 — Modifies Circular 47/2008
The Bank of Mexico amends Articles 4 and 5 of Circular 47/2008 to adjust the bidding periods for U.S. dollar sales auctions. Article 4 establishes three specific two-minute submission windows on auction days: 9:00–9:02, 12:00–12:02, and 15:00–15:02 hours. Article 5 requires that assigned dollars be deposited into the institution's designated account at the Bank of Mexico's International Reserve Operations Sub-Management by the second immediate banking business day following the assignment date. These changes enter into force on March 17, 2015, applying to auctions conducted on that date and subsequent days.
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