Lending & Secured Finance 2022

1 Overview

1.1 What are the main trends/significant developments in the lending markets in your jurisdiction?

The COVID-19 pandemic represented an unprecedented disruptive event. At its beginning in 2020, the effects of COVID-19 triggered a recession that impacted financing markets globally. Early in 2020, the Mexican government declared a health emergency, implemented a series of measures, including travel restrictions, social distancing and school closures, and shut down non-essential activities to slow the spread of the virus. Mexican banking and other financial institutions, as well as banking institutions internationally, implemented crisis response plans, which included strict testing tools, close monitoring, and the implementation of refinancing alternatives for their clients. In this regard, the Mexican Banking and Securities Commission (Comisión Nacional Bancaria y de Valores or CNBV) enacted special – and temporary – accounting principles applicable