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MEXICAN FINANCIAL SYSTEM

Mexico has one of Latin America's most developed banking systems, consisting of a central bank

and six types of banking institutions: public development banks, public credit institutions,

private commercial banks, private investment banks, savings and loan associations, and

mortgage banks. Other components of the financial system include securities market

institutions, development trust funds, insurance companies, credit unions, factoring companies,

mutual funds, and bonded warehouses.

The central bank, the Bank of

Mexico, regulates the money supply

and foreign exchange markets, sets

reserve requirements for Mexican

banks, and enforces credit controls.

It serves as the fiscal agent of the

federal government, the issuing

bank for the new peso, and a

discount house for private deposit

banks.

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