Bankruptcies of financial institutions in the United States will not have “relevant negative effects” on Mexican banksassured this Thursday the governor of the Bank of Mexico (Banxico), Victoria Rodríguez Ceja.
We do not expect recent events in the United States banking system or in international markets to have significant negative effects on Mexican banks,” he stated during the 86th Banking Convention.
Besides, The governor of the Mexican central bank stated that even in the face of “severe but plausible adverse” scenarios, banks remain solvent and with sufficient liquidity.
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Rodríguez’s statements come after the exit of Silicon Valley Bank (SVB) from the financial market and the subsequent ones of Signature Bank, Silver Gatein the United States, and the most recent Credit Suissein Europe, which fueled fears of a new financial crisis.
The governor of the central bank considered that this bankruptcy occurred as an “atypical episode of bank runs” and that it could have its origin in three factors, such as inadequate management of interest rate risk, an excessive concentration of exposures in a single sector of the economy and a high proportion of depositors of these banks with balances above the deposit insurance coverage.
He also pointed out that in the case of the European entity it was mainly due to an environment of high uncertainty due to negative news, lor that generated volatility of various assets and an increase in risk aversion among investors.
These episodes remind us that depositor confidence is essential for banks to be able to carry out their primary tasks of transforming terms and risks”, he added.
In this sense, Rodríguez explained that it is necessary to constantly reinforce prudent risk management without underestimating concentration effects, as well as fostering an environment of healthy competition, maintaining high standards of service to customers and scrupulous full and timely compliance with the framework. regulations and their amendments.
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