The National Banking and Securities Commission (CNBV) is analyzing a third round of special measures so that financial institutions can continue to offer support programs to their borrowers in the context of the Covid-19 crisis.
A few days ago, Juan Pablo Graf Noriega, president of the CNBV, commented that in this new stage it will be sought that financial institutions implement more personalized restructuring programs and in accordance with their operation, and similar to what the Commission proposes, with the in order to benefit its clients in their credit histories and seek to reduce the probability of default.
“We are working with the banks on a third aspect of these restructuring programs, which we call institutional restructuring programs, and these consist of the entities themselves carrying out the restructuring as they propose it in a similar way to the restructuring proposed by the Commission ”, he declared.
The first support scheme, announced in March, consisted of measures so that financial institutions could offer loan payment deferral programs and the second, presented in September, for loan restructuring.
The Association of Banks of Mexico indicated that, as of November, almost 1 million loans were restructured, while almost 9 million customers benefited from the deferrals.
Graf Noriega acknowledged that it has been difficult for several banks to operate the restructuring stage, mainly for operational reasons. “Regulatory stimuli accompany this type of restructuring with lower credit reserve requirements for expected loss and capital requirements for unexpected loss … Within this framework, institutions can take advantage of this and some banks will not be able to do so. do”.
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