Regulatory Alerts2024-05-02 | Circular 6/2024Added · Updated
Circular 6/2024 — Modification of Circular 9/2023 Regarding Cash Operations and Commission Factors
The Bank of Mexico modifies Annex 21 of Circular 9/2023 to update the factors used to calculate commissions charged to Users for cash services provided through Correspondents. The document establishes specific commission factors based on geographic zones, ranging from 0.00030597 for cities such as Aguascalientes and Cancún to 0.00066833 for cities including Chetumal and Ciudad Juárez. These modifications entered into force on May 2, 2024.
"2024, Año de Felipe Carrillo Puerto, Benemérito del Proletariado, Revolucionario y Defensor del Mayab" Page 1 of 2 CIRCULAR 6/2024 Mexico City, May 2, 2024 SUBJECT: Modifications to Circular 9/2023 regarding Cash Operations on the update of the factors used to calculate the commissions that Users pay for the cash correspondent service
TO CREDIT INSTITUTIONS: The Bank of Mexico, based on what is established in articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States; 2nd, 3rd, fraction I, 4th, 24, paragraphs first and second, and 25, of the Law of the Bank of Mexico; 48 of the Credit Institutions Law; 1st, 4th, paragraphs first and fourth, 8th, paragraphs fourth and eighth, 10, paragraph first, 16 Bis, fraction II, and 17, fraction I, of the Internal Regulations of the Bank of Mexico, as well as Second, fractions III and X, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, has resolved to modify Annex 21 of its Circular 9/2023, regarding Cash Operations (Circular).
These modifications aim to update the factors used to calculate the commissions that are charged to Users for the cash services that the Bank of Mexico provides through its Correspondents.
Page 2 of 2 ANNEX 21 2/3 II. COMMISSIONS PAID BY USERS II.1 In Parity Locations The Bank of Mexico will charge Users monthly, for the cash services it provides through its Correspondents, the following amounts: II.1.1 The amount resulting from multiplying the amount of Notes Suitable for Circulation that Users deposit or withdraw from the Correspondents by the factor corresponding to the Parity Location where the operations are carried out, in accordance with the following:
LOCATION FACTOR FOR COMMISSION FOR FLOWS OF SUITABLE NOTES Aguascalientes, Cancún, Cuernavaca, Culiacán, La Paz, León, Los Mochis, Minatitlán, Oaxaca, Pachuca, Poza Rica, Querétaro, Salina Cruz, San Luis Potosí, Tampico, Tijuana, Toluca, Tuxtla Gutiérrez and Xalapa. 0.00030597 Acapulco, Campeche, Chihuahua, Ciudad Obregón, Colima and Villahermosa. 0.00051055 Durango, Puebla and Torreón. 0.00053167 Chetumal, Ciudad Juárez, Córdoba, Morelia, Tapachula and Zamora. 0.00066833 II.1.2 a II.1.4 … II.2 … TRANSITIONAL PROVISION SOLE.- These modifications shall enter into force on May 2, 2024.
Sincerely, BANK OF MEXICO
ISABEL MORALES PASANTES JOSÉ ELÍAS ROMERO APIS HERNÁNDEZ Director of Programming and Cash Distribution Manager of Legal Affairs International and Special
More like this from BANXICO
We email you every new BANXICO publication the day it's published.