Treasury and Financial Markets

The Bank’s operation and business needs of financial resources were met with sufficiency and opportunity. Transfer prices were set for financial products at market levels. The balance collected in national currency amounted to MXN 134,858 million and in foreign currency the equivalent of MXN 119,485 million, resulting in a total of MXN 254,343 million. Twenty-eight correspondent banks assigned a non-committed line of credit to BANCOMEXT.

The Institution’s own resources, and third party resources it administers (Bancomext Pension Fund, Special Savings Loan Trust, Bancomext Retirement Loans, Bancomext Defined Contribution Pension Fund), were invested under market conditions, based on the applicable risk and operation limits, following the investment policies of the respective committees.

It provided its clients with the investment service in foreign currencies with market returns and met the financial resource needs of the Bancomext Treasury, in accordance with the following:

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The money desk was in charge of the institutional strategy for direct purchase-sales and repurchases of debt securities in Mexican currency, covering the needs of Market Promotion and Treasury, operating through brokers, brokerage houses, banks, and in primary auctions of government securities.

The exchange desk attended to the exchange risk coverage needs of Bancomext and its borrowers. In addition, it carried out the currencies purchase and sell and Exchange Swaps operation. Its general strategy was to manage the positions risk-return ratio within limits set by Banco de México.

The derivative desk met the needs of Treasury, flow management, and balance sheet risk through hedging operations of Interest Rate and Currency Swaps. Additionally, it assisted with the Derivatives Promotion area with clients by providing Rate, Currency, and Swap Options quote prices, covering Bancomext's borrower operations.