This is an area where I am pleased to say the Federal Reserve can be of some assistance. At the Federal Reserve, we have responsibility for designing many consumer disclosures, and we have made great strides recently to make those disclosures more understandable.
Mexico learned its lesson after the 1994–1995 crisis and over the years the authorities have implemented a strict system of financial regulation and supervision. Mexico is among the first countries to fully embrace the new international standards embodied in Basel III. In all these years of building financial and macroeconomic resilience, often we have been inspired by success stories, such as Singapore.