10 Jun BANXICO – Rules applicable to financing for MSME
June 10, 2020 – The Financial Institutions may obtain from Banco de México the financing with the following Rules, in order to use the respective resources to grant financing to the micro, small and medium-sized enterprises (MSME), directly, or indirectly through other non-bank financial entities, through the following operations, under the terms and subject to the conditions indicated in these same Rules:
- Simple credit guaranteed with Eligible Assets held in escrow.
- Issuance of stock certificates guaranteed with Eligible Assets held in guarantee trust.
- Issuance of fiduciary stock certificates guaranteed with Eligible Assets held in trust.
- Reports on the eligible titles referred to in these Rules.
Once any of the aforementioned financing mechanisms have been approved, the Institutions must inform Banco de México of the destination they have given to the resources; for these purposes, each Institution must submit reports to Banco de México on a weekly basis and with the details that The latter indicates on the form that, for these purposes, it establishes through the Financial System Information Department.
These Rules will enter into force on the day of their publication in the Official Gazette of the Federation and their validity will expire on September 30, 2020.
Jurisdictions affected: Mexico
For more information, visit Banco de México.