The needs for financial resources for the bank’s operation and business were addressed in an adequate and timely manner; transfer prices for financial products were established at market levels. The balance in local currency reached 130,653 million MXN, and in foreign currency it was the equivalent to 117,947 million MXN, this way totaling 248,600 million MXN. The number of correspondent banks that assigned uncommitted credit lines to Bancomext totaled 30.
The resources of the Institution and of third parties that it manages (Bancomext Pension Fund, Trust of the Special Savings Loan, Bancomext Retiree Loans, Bancomext Defined Contribution Pension Fund) were invested in market conditions, based on the applicable risk and operation limits, following the investment policies established by their respective Committees.
The Deputy department for Market promotion provided its customers with investment services with market-based yields, supported the funding of money desk positions and addressed the needs for financial resources of the Bancomext Treasury.
The money desk was in charge of the institutional strategy for direct trading and repurchase agreements for debt securities in local currency, meeting the funding needs of its own position and that of the Treasury’s, operating through brokers, brokerage firms, banks and in primary auctions of government securities.
The currency desk addressed the needs for hedging against exchange risks for Bancomext and for its borrowers. Likewise, it carried out the operation of foreign exchange trading and that of Currency Swaps. Its general strategy is oriented towards managing the risk-return ratio of the positions within the limits determined by Banco de México.
The derivatives desk addressed the needs of the Treasury, managed flows and the balance sheet risk through hedging operations of Interest Rate and Currency Swaps. As to Derivatives with customers, it provided prices for quotes of Rate, Currency and Swap Options, carrying out the hedging of operations from Bancomext borrowers.
