## Mexico: Financial Sector Assessment Program Update: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision

_IMF Staff Country Reports, May 15, 2007_

## Source details

**Canonical URL:** [Mexico: Financial Sector Assessment Program Update: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision](https://www.imf.org/en/publications/cr/issues/2016/12/31/mexico-financial-sector-assessment-program-update-detailed-assessment-of-compliance-with-the-20971)

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## Bibliographic details
- Published: May 15, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451825800.002

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### Summary
- Presents a Detailed Assessment of Mexico’s compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision.
- Fiscal consolidation reduced the gross public debt-to-GDP ratio to below 50 percent, providing the foundations for a monetary policy able to bring inflation down to less than 4 percent, in the context of a floating exchange rate.
- These improvements have contributed to Mexico’s achievement of investment-grade rating, uninterrupted access to capital at low cost, and resilience to shocks, such as the Russian crisis.

### Key findings and implications
- Fiscal consolidation outcome:
  - Gross public debt-to-GDP ratio: below 50 percent.
- Monetary policy environment:
  - Enabled a monetary policy able to bring inflation down to less than 4 percent.
  - Operates in the context of a floating exchange rate.
- Market and resilience outcomes:
  - Achievement of investment-grade rating.
  - Uninterrupted access to capital at low cost.
  - Resilience to shocks (example cited: the Russian crisis).
- Primary assessment focus:
  - Compliance with the Basel Core Principles for Effective Banking Supervision.
  - Transparency of Banking Supervision.

### Scope and topical coverage
- Subjects listed: Bank supervision; Banking; Basel Core Principles; Capital adequacy requirements; Credit; External audit; Financial regulation and supervision; Financial Sector Assessment Program; Financial sector policy and analysis; Legal support in revenue administration; Money; Revenue administration.
- Keywords included: bank liquidation framework; bank resolution; Bank supervision; Basel Core Principles; board of directors; bridge bank; CNBV objective; CNBV review; country risk; CR; Credit; examination team; Financial Sector Assessment Program; Global; intervened bank; ISCR; Legal support in revenue administration; onsite team; problem bank; risk manager; única de Banco.

*Mexico: Financial Sector Assessment Program Update: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/mexico-financial-sector-assessment-program-update-detailed-assessment-of-compliance-with-the-20971_