1/ Before June 20th of 1997 gold holdings and IMF liabilities of Banco de México   were revalued only at the end of each year, based on the international gold price   and the U.S.dollar/SDR exchange rate of December 31st. From June 20th of 1997 on, these liabilities and the gold converted using the U.S. dollar/SDR exchange  rate and the gold price corresponding to the date reported.

2/ The net international assets is defined as the gross international assets deducting the Bank of Mexico's liabilities vis-a-vis the International Monetary Fund (IMF) and the short-term (under 6 months) liabilities stemming from agreements with central banks.

3/ Defined according to Banco de México's Law.

4/ The effective flows of the net international assets in domestic currency  are constructed using the exchange rate applied in each transaction. The  difference in the balance of net international assets expressed in domestic  currency, does not correspond to the effective flow concept, given that  balances are valued according to the exchange rate corresponding to the date  reported. This consideration also explains the fact that differences in net  domestic credit balances do not equal reported effective flows.