Regulatory Alerts2009-04-15 | Circular 8/2009Added
Circular 8/2009 — US Dollar Credit Auctions
Banco de México establishes rules for credit auctions in US Dollars to provide funding to private sector participants facing term funding pressures. Only credit institutions may bid, with submission limits capped at 25% of the maximum amount offered per auction. Successful bidders must provide collateral, including monetary regulation deposits, CETES, BONDES, and other eligible securities, with initial collateral values required to meet a minimum margin determined by Banco de México. The central bank reserves the right to declare auctions void or suspend participation if bids do not reflect market conditions or if collusion is detected.
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