Mexico: Financial Sector Assessment Program-Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision

International Monetary Fund

No 2023/104, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision for the Mexico Financial Sector Assessment Program. The mandate of National Banking and Securities Commission (CNBV) is to supervise and regulate, within its remit, the entities that make up the Mexican financial system, as described in the Law of Credit Institutions and other relevant laws concerning financial institutions. Mexico chose to be assessed and graded against Essential Criteria only. The standards were evaluated in the context of Mexico’s financial system’s sophistication and complexity. The assessment focuses on the supervision of private banks. The report highlights that the level of capitalization and the liquidity position of commercial banks is robust and have improved recently. CNBV adopted a number of regulatory measures related to coronavirus disease 2019. Credit to the private sector is recovering slowly and has not yet reached pre-pandemic levels, albeit not homogeneously. The strongest demand is from households, mainly consumer credit and housing, whereas credit to firms continues to drop.

Keywords: IMF-World Bank Financial Sector Assessment Program; Banco de México; Constitución Política de los Estados Unidos Mexicanos; banking Stability Committee; Comisión Nacional; y de Valores; Credit risk; Market risk; Credit; Internal audit; Operational risk; Global (search for similar items in EconPapers)
Pages: 170
Date: 2023-03-07
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