Mexico: Monthly report on banking and the financial system July 2020
CNBV designates commercial banking institutions of local systemic importance. BIS annual economic report. The origination of mortgage financing from banks fell 18.2% in real terms. Adverse economic effects of the COVID-19 outbreak in the US slows down the recovery of financial markets at the end of July.
Key points
- In May, consumer credit registered its first drop in nominal terms since August 2010
- Bank deposits rose influenced by the impulse of precautionary savings derived from the pandemic
- Adjustments to interest rates in open market operations of Banxico
- Renewal of the corporate debt repos period
- BIS conducts an analysis of the impact of the COVID-19 pandemic on the financial system
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