Regulatory Alerts2008-12-08 | Circular 61/2008Added
Circular 61/2008 — Modifies Circular 48/2008
The Bank of Mexico modifies the liquidity facilities rules for multiple banking institutions by adjusting interest rates, expanding eligible collateral for repo operations, and introducing a new credit line backed by specific public sector loan portfolios. The amendment sets the interest rate at 1.1 times the one-day interbank interest rate target and allows institutions to use deposits or specific government and bank-issued securities as collateral. A new section permits financing against cash flows from credits granted to state and municipal entities backed by federal participations or contributions under budget items 28 or 33. These changes take effect on December 9, 2008.
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