Banks stay solid despite a weaker peso: what Mexico's Financial Stability Council said and how to protect your savings
The Finance Ministry, the central bank and regulators concluded the system can absorb shocks, even though the peso lost more than 5% over the period reviewed.
Mexico's financial system remains solid and resilient and able to absorb adverse shocks, the Financial System Stability Council (CESF) concluded at its 65th regular session on September 28, the Finance Ministry (SHCP) reported on September 29, 2026.
The council is chaired by the Finance Secretary and includes the Governor of the Bank of Mexico, the Finance Undersecretary, two central bank deputy governors and the heads of the banking and securities regulator (CNBV), the insurance and bonding commission, the pension regulator (Consar) and the bank deposit insurance agency (IPAB).
Key findings
- Banks: according to the council, commercial banks' capital and liquidity levels comfortably exceed regulatory minimums.
- Exchange rate: the peso depreciated by more than 5% over the period reviewed; an initial gain of about 3% was reversed as the dollar strengthened.
- Markets: government bond yields rose across all maturities and stock indexes fell about 2.5%.
- Rating: Mexico keeps its investment-grade rating from all major agencies.
Among the risks it is watching, the council listed a possible escalation of geopolitical and trade tensions —including the conflict in the Middle East—, unexpected monetary policy shifts in major economies, corrections in financial asset prices and persistent market volatility. It also noted that the U.S. Federal Reserve raised its rate by 25 basis points to a 3.75%–4.00% range. The CESF said it will keep monitoring closely so authorities can act in a coordinated way if needed.
What it means for Cancún residents
In an economy as tied to international tourism as Cancún's, the exchange rate matters day to day: a weaker peso makes anything paid in dollars more expensive (imports, some rents or dollar debts) while stretching further for people who earn tips or wages in dollars. The official assessment suggests that move has not undermined the soundness of banks.
How to know whether your savings are protected
Whatever the market backdrop, it helps to know how IPAB deposit insurance works:
- It covers up to 400,000 UDIs per person, per bank; at the late-September UDI value, that is roughly 3.5 million pesos.
- If you hold several accounts at the same bank, they are added together and the cap applies to the total.
- It covers savings, checking and payroll accounts, debit cards, promissory notes payable at maturity and certificates of deposit. Coverage is automatic and free.
- It applies to commercial banks. If you save with a credit union or other financial company, ask which insurance or protection fund backs it; the CNBV publishes information on the different schemes.
- If your balance at a single bank exceeds the cap, spreading it across different institutions extends your protection.
For problems with your bank, the financial consumer agency CONDUSEF handles complaints free of charge.
Related
The 24-item basket cost between 739.90 and 911.77 pesos in the September 14–18 survey; the consumer agency also reported diesel prices and the best remittance service.
INEGI confirmed GDP rose 1.4% quarter-on-quarter and 1.9% year-on-year from April to June, with services —the engine of Cancún's economy— up 1.4 percent.
The central bank keeps its benchmark rate unchanged and warns that services inflation is still pushing up prices; borrowing will stay expensive for a while.
The Bank of Mexico reported a surplus equal to 1.7% of GDP for April–June; foreign investment hit a half-year record, though almost all of it is reinvested profits.