As a follow-up to the press release published by Banco de México ("Banxico") on December 20, 2022, regarding the transition of the Interbank Equilibrium Interest Rates (TIIE), and in consideration to the recommendations of the Financial Stability Board (FSB), the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO), on April 13, 2023, Banxico published in the Official Gazette of the Federation the Circulars 3/2023 and 4/2023 which amend Circular 14/2007 (General provisions referred to in article 4 of the Law for the Transparency and Order of Financial Services in Interest Rate) and Circular 3/2012 (Provisions applicable to the operations of credit institutions, regulated multiple purpose financial companies that maintain equity links with credit institutions and the national financial institution for agricultural, rural, forestry and fishing development) (the "Amendments").
Professional Related: Juan Pablo Betancourt , Patrick Meshoulam
