1/ Net International Assets are defined as official reserve assets (see the
Data Template on International Reserves/ Foreign Currency) plus other foreign
(see also the Data Template) comprising credit agreements granted by Banco de
Mexico to foreign central banks due in more than six months, less the
outstanding stock of debt with the IMF and of the credit agreements received
by Banco de Mexico from other central banks due in less than six months. It
also included the change, measured in U.S. dollars, of the mark to market
value of commited and unsettled transactions involving foreign currencies
conducted by Banco de Mexico.
2/ According to Article 19 of Banco de México's Law the International Reserve
is composed by the foreign currency and gold, property of the Central Bank,
that are free of all lien and whose availability is not subject to any
restriction; the amounts resulting from the difference between México's
participation in the IMF and the balance of unpaid contributions to said
institution that are payable by the Bank, when this balance is less than the
aforementioned participation, and the foreign currency procured through
financing obtained for exchange regulatory purposes from the legal entities
referred to in Article 3 Section VI from this Law. To determine the amount of
the reserve, the foreign currency not yet received from the sale of domestic
currency will not be taken into consideration; and the Bank's liabilities in
foreign currency and gold, except for those liabilities with maturities over
six months and those corresponding to the financing referred, will be deducted.
3/ The diference between net international assets and international reserve
flows is explained by the net variation of short-term and IMF liabilites.
Short-term liabilites correspond to deposits in U.S. dollars that the
Federal Government and Pemex, among others, hold in this Institution.
4/ Peso-Dollar (non-discretionary and discretionary) operations conducted by
Banco de Mexico in the foreign exchange market.
5/ Includes: the net income from accrued and realized interest payments
generated by the official reserve assets' investments; the change in the mark
to market valuation (in terms of U.S. dollars) of positions in non-U.S.
dollars currencies that are part of the official reserve assets; the net
income from buying-selling operations of securities, foreign currencies or
gold generated in the process of managing the official reserve assets, and
changes in amount of U.S. dollar denominated deposits maintained by Mexican
commercial banks at Banco de Mexico.