Regulatory Alerts2011-03-02 | Circular 7/2011Added
Circular 7/2011 — Procedure for Market Makers to Exercise the Right to Purchase Government Securities and Conduct Securities Lending Operations with the Bank of Mexico
The Bank of Mexico establishes a unified procedure for market makers to purchase BONOS, CETES, and UDIBONOS at auction-determined prices and to conduct securities lending operations with the central bank. Market makers must submit irrevocable purchase requests via SIAC-BANXICO between 8:45 and 9:00 on the business day following the auction, and must execute a contract with the Bank of Mexico at least ten business days prior to initiating lending operations. This circular abrogates Circular 3/2006 and specific sections of Circular 115/2002, taking effect on March 3, 2011, while preserving the validity of existing lending contracts signed under the repealed procedures.
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