Regulatory Alerts2007-08-28 | Circular 8/2007Added
Circular 8/2007 — Rules for the Purchase Auctions of Monetary Regulation Bonds (BREMS)
The Bank of Mexico establishes the rules for the purchase auctions of Monetary Regulation Bonds (BREMS) to withdraw them from the market. Eligible bidders are limited to brokerage houses, credit institutions, investment companies, and specialized retirement fund investment societies, who must bid on their own account. The document details the auction process, including submission via the SIAC-BANXICO system, assignment of all bids, and settlement procedures involving accrued interest calculated using the weighted interbank funding rate. It also specifies penalties for non-delivery of bonds, set at one percent of the nominal value.
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