Banco de Mexico Law
This law establishes Banco de México as the Central Bank of Mexico. It presents articles that regulate the functions and administrations of the bank. It states that Banco de México's purpose will be to provide the country's economy with domestic currency. The bank will also aim to promote the sound development of the financial system and foster the proper functioning of payment systems.
The law identifies Banco de Méxicos various functions. It states that the bank will:
- Regulate the issuance and circulation of currency, foreign currency exchange, financial intermediation and services, and payment systems;
- Operate as reserve bank and lender of last resort for credit institutions;
- Provide treasury services to the Federal Government and act as its financial agent;
- Counsel the Federal Government on economic and financial issues;
- Participate in the International Monetary Fund and other international financial cooperation institutions, as well as those embodying central banks;
- Operate with the institutions referred to in Section V above, with central banks and other foreign legal entities performing functions of authority in financial issues.