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Senator Armenta Expects $ Buyer of Last Resort Bill to Pass

MEXICO
  • LOCAL NEWS
  • Alejandro Armenta (Senate Finance committee head) says the bill making Banxico Mexico's USD buyer of last resort is likely to pass when it is discussed by officials in Jan, before being voted on by the lower house in Feb.
  • Detractors say the bill threatens policy makers' autonomy & could jeopardize financial stability.
  • Backers say legislation is needed after a U.S. crackdown pushed some banks to sever ties with Mexican counterparts, which now cannot offload excess USD - bbg
  • Central bank to release results for:
    - MXN 5bn of 28-day Cetes
    - MXN 9bn of 90-day Cetes
    - MXN 13bn of 182-day Cetes
    - MXN 9bn of 350-day Cetes
    - MXN 11bn bondes D due Dec 2021, 2023 & 2025
    - MXN 1bn Mbonos due Nov 2038
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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