Consequently, this has not been considered a sensible course of action in the Mexican case, and the country remains one of the most open to capital flows among emerging market economies. The approach I just described has allowed a flexible implementation of monetary policy in Mexico with satisfactory results. Let me illustrate this with the experience of recent years.
In 2014, CPMI-IOSCO published supplemental guidance and a menu of recovery tools to help financial market infrastructures, including CCPs, meet the expectations in the PFMI that all financial market infrastructures have a comprehensive and effective recovery plan.