Mexico Financial Sector Assessment Program : Sistema de pagos Electonicos Interbancarios -- Assessment of Observance of the CPMI-IOSCO Principles for Financial Market Infrastructure
The Sistema de Pagos Electrónicos Interbancarios (SPEI) is an important pillar of a complex payment and securities settlement infrastructure, through which the payments of various markets are settled with finality. In 2015, SPEI processed transacti...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/735661507876121410/Mexico-Assessment-of-observance-of-the-CPMI-IOSCO-principles-for-financial-market-infrastructure http://hdl.handle.net/10986/28602 |
| Summary: | The Sistema de Pagos Electrónicos
Interbancarios (SPEI) is an important pillar of a complex
payment and securities settlement infrastructure, through
which the payments of various markets are settled with
finality. In 2015, SPEI processed transactions for the
equivalent of 10 times the country’s gross domestic product
(GDP). It is supported by well-founded legal basis, and
sound governance arrangements. It has developed a
comprehensive risk management approach with an emphasis on
operational risk management. At the same time, a few areas
and opportunities for improvement have been noted in this
report in light of enhancing principles for financial market
infrastructures (PFMI) observance. This assessment was
undertaken in the context of the International Monetary Fund
(IMF) - World Bank (WB) financial sector assessment program
(FSAP) to Mexico in April and May 2016. The objective of the
assessment has been to identify potential risks related to
the FMI that may affect financial stability. While safe and
efficient FMIs contribute to maintaining and promoting
financial stability and economic growth, they may also
concentrate risk. If not properly managed, FMIs can be
sources of financial shocks, such as liquidity dislocations
and credit losses, or a major channel through which these
shocks are transmitted across domestic and international
financial markets. |
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