April 15, 2020 / COVID-19 / Banking and Finance
Measures adopted by Mexican financial authorities amid the contingency related to the pandemic created by SARS-CoV-2 (COVID-19) virus
The world is facing a crisis generated because of the pandemic from COVID-19 —Mexico and its financial sector are no exceptions. The health authorities around the globe have defined measures to prevent and contain the epidemic, such as social distancing, avoiding public places and people crowds, etc. This situation has caused a change in several day-to-day life paradigms, with inevitable implications in several economic sectors, especially the financial sector.
This section contains an outstanding practical and descriptive analysis from the measures and determinations adopted by different financial authorities in Mexico due to the pandemic. This measures intend, among other things, to:
– Facilitate access to basic financial services for the population to prevent infection risks.
– Mitigate, as possible, negative impacts on personal and corporate finances during the contingency.
– Ensure continuity of payment systems.
– Prevent the increase of illicit activities within the financial system during the contingency period.
Since this contingency is still developing, the measures exposed herein will probably be subject to continuous updates, so we will try to show the changes as soon as the relevant authorities publish them.
