On Oct. 7, MEX CB proposed cash operations, correspondent services.
MEX CB issued, for public consultation, draft provisions regarding cash operations, correspondent services, and the handling of allegedly counterfeit or altered coins.
Draft changes to general provisions that set means to publicize circulars by MEX CB re storage, supply, exchange, delivery, withdrawal, reproduction, and destruction of banknotes and metallic coins, cash correspondent services, through Circular 8/2023.
Highlights
The draft provisions' purpose is to revoke Circular 9/2023, regarding cash operations.
Standardization of credit institutions' regulations re storage, supply, exchange, delivery, withdrawal, reproduction, and destruction of banknotes, and metal coins.
Also, aims to handle presumably false or altered pieces, using a similar structure.
Clarified some definitions, obligations, and exceptions, considered fortuitous cases.
Additionally, the simplification of processes re presumably false and altered pieces.
Finally, added a chapter related to cash correspondent service to the new circular.
Consultation
Consultation begins on Oct. 7, 2024, and will end at 6:00 pm on Nov. 15, 2024.
