The IPAB, Grupo FAMSA and the CNBV in Mexico

The IPAB is a decentralized government agency responsible for administering the bank savings protection system in Mexico.

Each year, Congress appropriates funds to IPAB to administer and service IPAB’s net liabilities.

IPAB’s net liabilities are not considered public sector debt.

In emergency situations, IPAB is allowed to obtain additional funding every three years, in an amount not to exceed 6% of the total liabilities of Mexican banking institutions, without the need for congressional authorization.

In addition to the auctions of debt securities in the domestic market, the IPAB also sells, through auctions conducted in Mexico by Banco de México, peso-denominated debt securities known as Bonos de Protección al Ahorro (BPAs).

The IPAB also administers a deposit insurance program, which is assessed on a per person or entity, per banking institution basis.

Currently, deposit insurance is limited to 400,000 Unidades de Inversión (UDI), an indexed unit of funds that can be traded in foreign exchange markets and whose value in pesos is indexed daily to inflation as measured by the variation of the INPC.


During the last 10 years, IPAB has also carried out the sale of loan portfolios, including significant sales of commercial loan assets.

As of December 31, 2022, IPAB’s balance was Ps. 69,905 million, 44.8% higher than the previous year.

On the other hand, on June 30, 2020, the CNBV revoked the commercial banking license of Banco Ahorro Famsa (BAF), due to inadequate risk management, granting loans above regulatory limits, inadequate record keeping, and recurrent non-compliance with various regulatory provisions.

Savings deposits in BAF are protected by the IPAB.

The IPAB will use resources from the Fondo de Protección al Ahorro Bancario, which receives monthly payments from commercial banks, to reimburse the deposits.

Following this revocation, Grupo FAMSA, BAF’s parent company, filed for bankruptcy in Mexico and Chapter 15 bankruptcy in the United States.

On November 11, 2020, the IPAB was notified of the resolution to initiate the judicial liquidation of BAF.

On June 30, 2021, the court in charge of BAF’s liquidation published in the Official Gazette of the Federation the judgment recognizing and establishing an order of priority for BAF’s creditors.

Then, on December 8, 2022, the announcement of the definitive closing of all BAF’s offices was published in the Official Gazette.


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