The President of Mexico, Claudia Sheinbaum, announced that the financial system will not be affected by the dollar's rise in the result of the US presidential election. American authorities have already guaranteed all organizations and a license in the SHA for three Mexican financial entities. One of the president's assistants said that the Mexican authorities have already taken such measures to minimize the post-election risks. "The SHA may have to take such measures," said Sheinbaum, adding that the Mexican authorities had already reached an agreement with the Ministry of Finance and the Association of banks on the issue.
According to her, the duration of the sanctions' validity is likely to be limited to 20 October, only Mexican assets will be subject to the SHA "sanctions".
Sanctions imposed by CIBanco, Intercam and the Mexican company Vector cover all their organizations and a license in the SHA for financial operations with the specified institutions. Once the president's assets are checked, it will be possible to minimize the post-election risks. "The SHA may have to take such measures," said the president.
It is worth noting that CIBanco's license was revoked by the Commission for Banking and Mexican securities, but does not function in the country. Intercam and Vector are still in the process of selling their active financial organizations, which, according to analysts, will be transferred to "pockets". Mexican regulators have already indicated that they will verify the administrative violations of these companies, as the SHA's statement on the withdrawal of funds is not confirmed.
