I will focus my remarks on some of the challenges faced by macroprudential policies at this stage, and on the Mexican experience with these instruments, and more generally with policies aimed at preserving financial stability. 1. Challenges for macroprudential policy  Financial stability has been at the center of policy makers’ attention during the last five years.
Observed in quantitative terms in1: An increase in the total capital ratio from 10.3% to 16.1% (between the end of 2010 and June 2019); An increase in the liquidity coverage ratio (LCR) from 151.5% to 212.3% (between the third quarter of 20162 and June 2019); A reduction in the loan-to-deposit ratio (LtD) from 150.6% to 88.2% (between the end of 2010 and June 2019); An increase in the total average assets per branch from 81.5 to 94.9 million euro (between the end of 2010 and the end of 2018).