02 Jun BANXICO – Rules applicable to the provision of resources to Credit Institutions
June 2, 2020 – The Central Bank of Mexico published the rules applicable to the provision of resources to credit institutions to channel credit to micro, small and medium-sized companies, as well as to individuals. These rules establish that the institutions with the purpose of being able to grant financing may, through compliance with the aforementioned rules: (i) make withdrawals of the available amount from the Deposit of Monetary Regulation constituted in the Bank of Mexico, and (ii) may hold repo on eligible titles, subject to the provisions of these Rules (once the first instance is exhausted).
For these purposes, each Institution must submit the request to Banco de México in the terms of the format attached to these Rules as Annex 1 and comply with the granting requirements, if affirmative, the institutions must submit reports with a periodicity. weekly and with the details that the latter indicates in the form that, for these purposes, it establishes through the Financial System Information Department.
These rules entered into force on June 2 of the present once published in the DOF and will remain in effect until September 30, 2020.
Jurisdictions affected: Mexico
For more information, visit Banco de México.