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Mexican financial System (DEVELOPING BANK (What it is? Development bank,…

- - - - BANXICO
        
        WHAT IS BANXICO? It is an autonomous institution whose primary objective is to ensure thestability of the purchasing power of the national currency.
        
        OBJECTIVES Bank of Mexico provides the country's economy with national currency; implement monetary policy with the priority objective of ensuring the stability of the purchasing power of the national currency; promote the healthy development of the financial system; and promote the proper functioning of payment systems.
- - - - Investment banks:Focus on providing corporate clients with services such as underwriting and assisting with merger and acquisition (M&A) activity.
        
        Functions
        -Channeling of savings-Security in the capital deposit.-Issuance of loans and credit.-Offers financial and asset advisory services in the areas of insurance, direct deposit of payroll, optimization of the profitability of savings.-Allows postponement of payments and use of credit and debit cards for the disposal of cash.
- - - - Agropecuario, Rural, Forestal y Pesquero (FND) It works to increase funding for any economic activity carried out on rural populations and improving the quality of life of its inhabitants. Products: Simple Credit, Refactionary Credit, Pledge Credit.
        
        Banco del Ahorro Nacional y Servicios Financieros, S.N.C. (BANSEFI) It promotes savings, financial education, financial inclusion, gender perspective, as well as financial instruments and services among people who have limited access to these types of products.
        Products and services. These are adjusted to the investment needs of each person considering the term, amount and liquidity required.
        
        Banco Nacional de ComercioExterior, S.N.C. It´s main objective is promote the development andcreation of jobs in Mexico, though commerce financing. It works through grant credits and guarantee, direct or through thecommercial bank and the not bank financial intermediaries.
        
        Banco Nacional de Obras y Servicios Públicos, S.N.C (BANOBRAS) Leading development banking institution in Mexico that makes possible the creation of infrastructure with high social profitability.
        
        Banco Nacional del Ejército, Fuerza Aérea y Armada, S.N.C. (BANJERCITO) It provides the banking and credit service to the members of the Army, Air Force and Navy of Mexico, and also to the general public.
        
        Nacional Financiera, S.N.C (NAFIN) Nacional Financiera (Nafin) is a development bank that belongs to the Mexican government. It is dedicated to delivering a range of financial and technical services for the development of SMEs in the country. The bank also promotes the development and modernization of the industrial sector in the region and stimulates the development of financial markets.
        
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  - - - OBJECTIVE: The habitual and professional realization of one or more of the activities of granting credit, financial leasing or financial factoring.
        
        CHARACTERISTICS These companies must add to their corporate name the expression "multiple purpose financial company" or its acronym "Sofom", followed by the words "regulated entity" or its abbreviation "E.R.". -They maintain links with credit institutions.-They will have 20% or more of the shares representing the capital.-Total control of the general shareholders' assembly.
        
        SOFOM in México A Multi-Purpose Financial Corporation (Sofom) is a company contemplated in Mexican legislation whose main objective is the granting of credit. They can be regulated (ER) or non-regulated (ENR) entities.
        
        CLASSIFICATION
        -Regulated multi-purpose financial corporations are those that maintain patrimonial links with credit institutions, popular financial corporations, community finance companies or savings and loan cooperative societies. -Regarding the not regulated, the supervision of the CNBV focuses exclusively on verifying compliance with the preventive provisions of money laundering and financing of terrorism.