System: Clearing House System.

Type: Deferred net settlement system.

Owner and operator: Banco de México.

Description: SICAM is designed to provide clearing and settlement of interbank documents, including checks, electronic funds transfers, direct debit operations, and interbank cash operations.

All balances in SICAM are settled in each bank’s current account at SIAC on the day following the day operations are initiated.

Participants: Banks offering checking accounts, direct debits, and electronic funds transfer.

Credit: SICAM allows participants to grant credit lines among themselves and establishes the amount of credit needed to settle the resulting balances and clear the payment obligations received through the clearing houses and through the electronic funds transfer and direct debit services.

Pricing: The fee for SICAM services is included in the SIAC fee.

Daily schedule:

  14:00              Open, day t
  14:00 - 18:00  Interbank credit lines registry, day t
    6:45 -  7:30   Reception of data from presented documents, returned documents, and adjustments, day t+1
    7:45 -  8:30   Preliminary results of the clearing process for day t, day t+1
    8:30              Registry of final results of the clearing process at SIAC, day t+1^*
    8:45 - 14:00  Publication of final results of the clearing process, t+1

* SICAM balances are settled through SIAC immediately after receipt of the final clearing results, at day t+1