Regulatory Alerts2020-03-30 | Circular 7/2020Added
Circular 7/2020 — Modifications to Circular 9/2014, Monetary Regulation Deposits
The Bank of Mexico reduces the total monetary regulation deposits by 50 billion pesos effective April 1, 2020, distributing 15 billion pesos to Development Banking Institutions and 35 billion pesos to Multiple Banking Institutions. Credit institutions must report the destination of these resources by September 7, 2020, detailing private sector non-banking credit operations. On November 3, 2020, the Bank adjusts each institution's deposit balance based on their participation in credit growth, requiring institutions to increase deposits if their growth share is below the distributed amount or reduce deposits if it is above.
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