Mexico | Monthly Report on Banking and the Financial System. November 2020

Summary

The slowdown of banking intermediation lingers after the sharp increase of March and April, as the economic recession takes its toll on the economy. However, to the extent that financial conditions have eased, the prices of domestic assets have recovered and non-banking sources of financing to firms have resumed.

Key points

• Key points:
• IMF affirmed Mexico's qualifications to access Flexible Credit Line resources
• High solvency and liquidity levels have allowed a sound functioning of the financial system during the pandemic: Banxico's Quarterly Report
• Better than expected vaccine news boosted risk sentiment. Mexican peso at its highest level since March
• Mexico home prices rose 5.0% during the 3Q

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