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Acerca del IPAB > Historical Events
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Historical Events
Year |
Month |
Event |
1999 |
May |
The Institute for the Protection of Banking Savings started operations |
1999 |
June |
Start of the program to reduce coverage of guaranteed obligations |
1999 |
July |
Start of the process of financial strengthening of Banca Serfin |
1999 |
November |
Start of the financial strengthening program in Bancrecer and take over of the bank’s management through a provisional management |
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2000 |
February |
First auction of 3-year Savings Protection Bonds (Spanish acronym BPAs) |
2000 |
May |
Sale of Serfin Group to Santander Mexicano Financial Group |
2000 |
August |
End of financial strengthening of Banca Promex |
2000 |
November |
End of financial strengthening of Banco Inverlat |
2000 |
December |
Standard & Poor's links the credit quality of BPAs with debt issued directly by the federal government |
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2001 |
July |
Dresdner Pension Fund buys Administradora de Fondos Bancrecer |
2001 |
September |
Sale of Bancrecer to Banorte Financial Group |
2001 |
October |
Delivery-receipt and start of liquidation processes in the banks intervened by the National Banking and Securities Commission (Cremi, Oriente, Union, Obrero, Capital, Interestatal, and Pronorte) |
2001 |
December |
Signing of framework agreement for conclusion of the financial strengthening of Atlantico |
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2002 |
March |
Start of process of liquidation and payment of guaranteed obligations of Banca Quadrum |
2002 |
June |
End of payment of guaranteed obligations of Banca Quadrum |
2002 |
June |
First issue of 5-year Quarterly Savings Protection Bonds (Spanish acronym BPATs) |
2002 |
August |
Start of liquidation and payment of guaranteed obligations of Banco Industrial and Banco Anahuac |
2002 |
October |
End of financial strengthening process in Banco del Atlantico |
2002 |
November |
End of payment of guaranteed obligations of Banco Industrial and Banco Anahuac |
2002 |
December |
Start of process of liquidation and payment of guaranteed obligations of Banco del Sureste |
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2003 |
February |
Amortization of the first issue of BPAs |
2003 |
February |
End of sale of the federal government’s stock package in BBVA Bancomer Financial Group |
2003 |
February |
End of payment of guaranteed obligations of Banco del Sureste |
2003 |
April |
Sale of 36% of the shares of Scotiabank Inverlat Financial Group to Bank of Nova Scotia |
2003 |
June |
End of sale of most of the loan portfolio of the banks in liquidation |
2003 |
September |
Standard & Poor's grants IPAB investment grade rating |
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2004 |
April |
Announcement of the issue of a new Savings Protection Bond with semiannual interest payments and protection against inflation (7-year BPA182) |
2004 |
June |
The investment firm operator Actinver purchases Casa de Bolsa Bursamex |
2004 |
June |
Start of the liquidation process in Banco del Atlantico |
2004 |
June |
Publication of amendments to the Law of Credit Institutions that authorize the National Banking and Securities Commission to classify full service banks in capitalization categories and order compliance with minimum corrective measures and special additional corrective measures (early corrective measures) applicable to each category |
2004 |
July |
Formalization of the New Program provided for in Transitory Article FIVE of the Law of Banking Savings Protection with Banamex, BBVA Bancomer, Banorte, and HSBC |
2004 |
October |
Fitch Ratings links IPAB’s credit risk to Mexico’s sovereign risk |
2004 |
November |
Banco B x + shareholders win the bidding for Casa de Bolsa ARKA |
2004 |
December |
Standard & Poor's ratifies IPAB’s credit rating |
2004 |
December |
End of the transition to the permanent savings protection regime for up to 400 thousand UDIs per natural or legal person and per bank |
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2005 |
January |
Explicit and limited savings protection regime, for up to an amount equal to 400 thousand investment units (UDIs) per natural or legal person, regardless of the number and class of such obligations payable by the same bank |
2005 |
June |
End of audits of management, identity of purpose, existence and legitimacy and legality |
2005 |
December |
Fitch Ratings increases IPAB’s international rating |
2005 |
December |
Standard & Poor's ratifies IPAB’s credit rating, assigning it the same rating as Mexico’s sovereign debt |
2005 |
December |
Moody's grants IPAB the same credit rating assigned to the Mexican government |
2005 |
December |
Start of the process of liquidation of BNP (Mexico) |
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2006 |
March |
Publication of the "Comprehensive Report on Oversight of the Bank Rescue 1995 - 2004" by the Superior Auditing Office of the Federation |
2006 |
May |
Banca Cremi files for bankruptcy |
2006 |
July |
Publication of amendments to sundry provisions relating to bank resolutions in the Law of Credit Institutions, the Law to Regulate Financial Groups, and the Law of Banking Savings Protection |
2006 |
August |
Publication of the Final Report issued by the Congressional Commission to Investigate IPAB |
2006 |
November |
Banco de Oriente files for bankruptcy |
2006 |
December |
Banco Interestatal files for bankruptcy |
2006 |
December |
IPAB’s net debt as a percentage of Mexico’s GDP falls to 7.6%, having reached a high of 13.7% in December 1999 |
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