Circular 7/2009 — Modifies Circular 2019/95

CIRCULAR 7/2009
Mexico, D.F. on April 15, 2009
TO MULTIPLE BANKING INSTITUTIONS:
SUBJECT: MODIFICATIONS TO CIRCULAR 2019/95

The Bank of Mexico, based on what is provided in Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 24 and 26 of the Bank of Mexico Law; 22 of the Law for Transparency and Ordering of Financial Services; as well as the eighth third and sixth paragraphs, 10, 17 fraction I and 20 fraction IV, which provide for the attribution of the Bank of Mexico, through the Directorate of Central Banking Provisions and the Directorate of Operational and Payment Systems, to participate in the issuance of provisions, respectively, all of the Internal Regulations of the Bank of Mexico, with the objective of promoting the proper functioning of the payment system and protecting the interests of the public, as well as considering the request made by the Mexican Bank Association, A.C., has resolved to modify, effective April 20, 2009, the Second Transitory Provision of Circular 19/2007, so that it reads as follows:

“TRANSITORY PROVISIONS
…
SECOND.- Checks issued on or after April 30, 2010, that do not comply with the specifications established in the standards mentioned in section M.11.11.15.1, may only be received by the drawee institution for payment in cash or crediting to an account held by said institution. …”