Despite the financial volatility observed in recent weeks, the Mexican financial sector is solid and resilient, stated the Financial System Stability Council (CESF).
In updating its risk balance, the CESF said that the stability of the financial system is supported by the position of commercial banks, which have high levels of capital and liquidity to meet their obligations.
“The Mexican financial system as a whole continues to show an adequate capacity to absorb shocks. This is largely due to a commercial banking system that has capital and liquidity levels that far exceed regulatory minimums,” CESF said in a statement.
The CESF, made up of representatives of the Ministry of Finance, Bank of Mexico, the National Banking and Securities Commission, among others, recalled that although at the beginning of the second quarter of the year economic activity registered a slight slowdown, there are other indicators that They improved prior to what was observed at the end of 2023.
“The sovereign credit rating remains at investment grade and with a stable outlook, although the main rating agencies have pointed out in recent communications some significant challenges ahead,” the agency added.
He explained that in the long term, the risks for the financial system as a whole remain limited, such as greater volatility in the exchange rate, external shocks associated with inflation, among others.
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“As at other times, the possibility of systemic events that affect the global financial system, with implications for national markets, remains latent,” indicated the CESF.
2024-06-29 01:50:04
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