With messages of optimism and solidity, the Mexican Banking Association (PRO) started its 86th Banking Congress in the midst of anticipation growth of foreign investment in the country and shadows inflation and financial difficulties due to recent bankruptcies in the US.
Outgoing ABM President Daniel Becker tried to allay doubts about the Mexican banking environment after leaving Bank of Silicon Valley (SVB) market and subsequent from Signature Bank and Silvergate in the US who paid fears of a new financial crisis.
Becker, who will deliver the missile defense letter to President Andrés Manuel López Obrador, said the bank has a lot of liquidity, so it is highly likely that Mexico “just watch this event happen”as it was during the crisis of 2008-2009.
Mifel, director of the financial group, also dismissed the existence of a “direct impact” on Mexican banks and added that they do not see the imminent departure of investors, exclusion of the effect of infection.
In this sense, Becker believed that the Mexican banking system did not pose a threat to public finances, and conversely argued that banks “contribute to the financial stability” of the country.
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Mexico is considered a country with a healthy financial system.
For his part, ABM Vice President Adrian Otero confirmed that banks operating in Mexico have a strong track record in which the diversification of their depositors allows them to be highly capitalized.
“Mexico considers itself a country with a healthy, well-capitalized financial system and ready to withstand periods of volatility,” he said.
He also mentioned that regulators in Mexico and the world know how to act in the face of recent global events that have created uncertainty in the financial market.
“The good numbers we are starting this year with give us a very clear idea of what What happens in the US does not directly affect Mexicoand that we are on track to resume last year’s growth performance, even at very high interest rates,” added Julio Carranza, who will lead ABM.
Reorder old accounts that are no longer in use
In addition, the annual meeting of bankers is given the context in which the Mexican government ordered I decide to close all old accounts which have entities and dependencies with private banks.
However, Becker pointed out that this mandate is only for “reordering those old accounts that are no longer in use, that may have a balance but have been established for a long time.”
Similarly, he explained that the adjustment is because there are officials in charge of the accounts and that they no longer belong to the Mexican public administration. (EFE)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
