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"Great Bank of the Mexican Empire."
Indeed, in 1822, during the empire of Agustín de Iturbide, a project was presented, without success, to create an institution with the power to issue banknotes, which would be called "Great Bank of the Mexican Empire." -
Destruction of the Porfirian banking system
With the destruction of the Porfirian banking system during the Revolution, the controversy no longer centered on the convenience of the monopoly or the free issuance of currency, but on the characteristics that the Single Issue Bank should have, and whose establishment was enshrined in the article 28 of the Magna Carta promulgated in 1917. -
Communique
Message from a communiqué issued in 1920 by the then influential League of Nations, during the International Finance Conference held in Brussels. -
Foundation
Banco de México was founded by decree as a public limited company on August 25, 1925 under the government of Plutarco Elías Calles -
Beginning of operations
Starting its operation as central bank on September 1 of that same year -
Period: to
Recovery
Recovery of the economy after the prostration of 1929 and 1930 -
Monetary Law
In July 1931, a controversial Monetary Law was promulgated by which gold was demonetized in the country. -
Period: to
The first reform
The first major reform of Banco de México -
Rise in the price of silver
In 1935, the price of silver rose steadily and led to an unprecedented crisis -
Organic Law
In 1936 a new and orthodox Organic Law was promulgated, which responds to the motivation of ridding the operation of the Bank of Mexico of any "inflationary note." -
Period: to
Great significance in the evolution of Banco de México.
The Bank had faced the challenge of having to apply a monetary containment policy -
Banking Law and Organic Law
June 1941 a new legal scheme in banking and financial matters is promulgated. Hence, a new Banking Law emerged as well as a new Organic Law of the Bank of Mexico. -
Autonomous institution
By constitutional mandate, Banco de México has been an autonomous institution since April 1994. -
Bretton Woods agreement
In June 1944, Mexico had been one of the signatory countries of the Bretton Woods agreement, through which a system of fixed exchange rates for world currencies was agreed, among other things. -
Mexico released the peso exchange rate
In 1948, and despite the fact that the Bretton Woods agreement did not accept floating exchange rates, Mexico released the peso exchange rate. -
Period: to
Balance-of-payments crises
In 1948 and 1949, Mexico suffered two severe balance-of-payments crises attributable, to a great extent, to the typical post-war realignments and adjustments of the world economy. -
Currency entry and Banking Law
In 1949, when there was again a worrying inflow of foreign currency, the Banking Law was reformed and the central bank was given the optional power to raise the reserve requirement of commercial banks to 100% on the growth of its liabilities. -
In 1949 it was decided to test a new parity at the 8.65 level
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1954, Mexico makes a new adjustment
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Regulatory Law of the Securities Market
Promulgation in 1975 of a new Regulatory Law of the Securities Market, were the basis for the development in Mexico of a market for bonds and fixed income securities. -
creation in Mexico of the so-called "multiple bank" in 1976
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1978 creation of the Treasury Certificates (Cetes)
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In 1999 the target of an annual inflation of 3 percent was set
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Monetary Program
In the Monetary Program for 2001, the official announcement was made regarding the adoption of the OI scheme by Banco de México. -
Official calendar
October 2002, an official calendar was released to announce monetary policy actions, which would apply as of 2003
