The necessity is clearly confirmed by rising Pemex credit risk perception, where higher CDS spreads beginning in mid-2014 and coinciding with lower oil prices should not be surprising, with slightly less pressure since last February. An important consequence is the contamination that Pemex credit risk perception has exerted on Mexico’s sovereign debt.
BIS Review 94/2009  1  I would also urge banks not to view risk management just from a compliance perspective but also as a business imperative. Entrenchment of risk management enables institutions to effectively price their products in line with their risk profile. This will not only enhance their competitiveness but also maximize shareholder value.