Crisis 2008 vs. Crisis COVID-19: Comparison of the measures taken by the CNBV and BANXICO

In recent months, the markets and economies of the world have entered an environment of volatility and financial instability, generated outside the scope of the regulatory measures and actions employed by Central Banks and regulatory bodies. This year the markets succumb and suffer from a health crisis caused by the COVID-19 pandemic. In this sense, the main question leads us to rethink how these bodies can help or how they can provide palliatives to return financial stability to the markets and the economy in the face of a phenomenon that is beyond their control. Governments and regulatory bodies around the world have shown significant adjustments to their operation, leading the financial authorities to take various measures to promote better functioning of the markets, a situation in which Mexico has not been the exception.

So… What’s going to happen?

The National Banking and Securities Commission (CNBV) and Banco de México (Banxico) are the main regulators for the Financial Institutions (FIs) and the Mexican markets. These institutes have spoken out and determined measures to face the consequences of the COVID-19 pandemic, but how much do these measures differ from those taken by the 2008 crisis?

Comparative chart between the measures taken and the regulatory changes of the crisis of 2008 vs. the crisis by COVID-19

Crisis 2008 vs. Crisis COVID-19

In this article, Marcela Leal and Georgina Navarrete, SMEs Mexico for AxiomSL and experts in Mexican regulation, have constructed a comparative chart on the measures taken and the regulatory changes of the 2008 crisis vs. the crisis by COVID-19. In addition, some of the challenges that Mexican Financial Institutions will have to face in the short and medium term are mentioned, as well as the additional effects that the measures taken by governments can bring to minimize the spread of the pandemic.

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