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September 1995 - April 2003. Operational target on cumulative balances ("corto")

This target was used from September 13, 1995 to April 9, 2003. The cumulative balance regime is essentially the same as the daily regime, except the target is the cumulative balance of the banks' accounts at the central bank in a 28-day period. Similar to the daily regime, Banco de México provided all the liquidity needed by the system in the measuring period, charging a higher interest for the amount of the “corto”, when there was one.