Mexico:Financial Sector Assessment Program-Technical Note on Selected Issues in Financial Safety Net Arrangements and Financial Crisis Preparedness

Financial Sector Assessment Program-Technical Note on Selected Issues in Financial Safety Net Arrangements and Financial Crisis Preparedness
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Volume/Issue: Volume 2022 Issue 339
Publication date: November 2022
ISBN: 9798400224676
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Money and Monetary Policy , International - Economics , bridge bank tool , Banco de México , C , bank insolvency , assistance regime , banks' resolvability , authorities project , Bank resolution framework , Bridge bank , Commercial banks , Bank resolution , Financial safety nets , Global

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Summary

The Mexican financial authorities strengthened the financial safety net since the last FSAP and need to continue and accelerate enhancements. Recovery and resolution plans are in place for all commercial banks, systemic banks are required to increase their loss absorbency complementing the critical Basel III reforms that the authorities have advanced, and the authorities progressed preparations for using the bridge bank tool, signed cooperation agreements with all major home jurisdictions of the Mexican systemic banks, clarified the emergency lending facilities including to banks in resolution, and improved the depositor payout process. Yet, accelerated enhancements are necessary, including by further improving the credibility and feasibility of banks’ financial contingency arrangements, removing impediments to banks’ resolvability and the use of the bridge bank and purchase and assumption transaction resolution tools, expanding the resolution regime’s remit to financial holding companies, and reinforcing the resolution and deposit insurance agency’s governance, autonomy, and resources.