Mexico: Financial Sector Assessment Program Update: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision

International Monetary Fund

No 2007/172, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents a Detailed Assessment of Mexico’s compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision. Fiscal consolidation reduced the gross public debt-to-GDP ratio to below 50 percent, providing the foundations for a monetary policy able to bring inflation down to less than 4 percent, in the context of a floating exchange rate. These improvements have contributed to Mexico’s achievement of investment-grade rating, uninterrupted access to capital at low cost, and resilience to shocks, such as the Russian crisis.

Keywords: ISCR; CR; board of directors; única de Banco; examination team; bank resolution; country risk; CNBV review; risk manager; onsite team; problem bank; intervened bank; CNBV objective; bank liquidation framework; bridge bank; Financial Sector Assessment Program; Basel Core Principles; Credit; Bank supervision; Legal support in revenue administration; Global (search for similar items in EconPapers)
Pages: 42
Date: 2007-05-15
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