Today I would like to organize my comments in three parts: first, the binational economic relationship; second, the opportunities stemming from Mexico’s ambitious structural reform agenda; and, third, recent developments and the outlook for the economy. As usual, my comments are entirely my own and do not necessarily reflect those of the Bank of Mexico or its Governing Board.
The obvious regulatory response would be to require subsidiaries to disclose the same amount of information as if they were listed. However, the publication of relevant and timely information is only one of the requirements for market discipline to work effectively. It has been argued that most large international banks are widely held and are thus subject to market discipline.