Banking system in Mexico, a role model on strength
Mexico.- The strength of the banking system in Mexico will allow to start applying as of this year new capital agreements, while for most international banks this will mean a huge effort, with possible consequences in the short term.
Guillermo Babatz Torres, Chairman of the National Banking and Securities Commission, Comision Nacional Bancaria y de Valores (CNBV), said that current rulings in Mexico are very similar to Basel III rules, which means that the banking sector in Mexico is already operating “under very strict rules”.
“The current discussion is taking place globally, not in Mexico, and the reason is that the enforcement of Basel III means a huge effort for most international banks in the world, while the enactment of Basel III in Mexico does not mean a greater effort for local banks”, he said.
Source: Notimex | Date: 06/03/2012