MEXICO CITY Dec 4 Mexican companies have been
asked by regulators to disclose their exposure to derivatives
instruments after a number of firms lost billions of dollars in
bad currency bets following a steep devaluation of the peso.
Companies listed on the country's stock exchange will have
to clarify their derivatives positions in publicly available
filings to the stock exchange by Dec. 15, said a spokesman for
the National Banking and Securities Commission, or CNBV.
Troubled retailer Comercial Mexicana COMEUBC.MX, cement
maker Cemex (CX.N)(CMXCPO.MX) and other companies shocked
investors when they revealed steep losses on their derivatives
positions in October as the peso took its worst hit in a
The losses sparked worries that other Mexican firms could
also be sitting on big losses.
Comercial Mexicana is currently in talks with creditors to
restructure its debt after bad currency bets inflated its
obligations to $2 billion.
The government said in October that it would probe whether
companies with large losses in derivatives had broken rules by
not keeping investors informed.
(Reporting by Noel Randewich and Michael O'Boyle; editing by