The financial system in Mexico is structured around financial holding companies (FHCs), which play a leading role in the system. Currently, there are 48 banks operating in Mexico, with seven of them controlling 78 percent of the market[2]. The system consists of all types of banks, including commercial banks, development banks, savings institutions, and cooperative credit societies]. The central bank of Mexico, Banco de Mexico, is responsible for the country's monetary policy and is also the lender of last resort. The capitalization ratio of the Mexican financial system exceeds international standards, and it is regulated under a modern legal framework].

The key players in the Mexican financial system include both public and private institutions. Mexico has seven government-owned development banks that provide services to specific areas of the economy, with Nacional Financiera being the dominant institution[2]. In addition, there are six domestic systemically important banks (D-SIBs) that are fully owned by FHCs and play a leading role in the system. These banks are subject to additional regulatory requirements to ensure their stability and resilience.

The regulatory framework and oversight of the Mexican financial system are overseen by six regulators responsible for the authorization and supervision of banks, insurers, and other financial institutions[6]. These regulators work together to ensure the stability and integrity of the financial system, with the Ministry of Finance and Public Credit providing overall supervision. The regulatory framework includes measures to prevent money laundering and terrorist financing, as well as to protect consumers and promote financial inclusion. Overall, the Mexican financial system has maintained high capital and liquidity buffers and has been considered robust for many years.