Basel III details critical for Mexico hybrids, says Banorte

Basel III details critical for Mexico hybrids, says Banorte

Bonds

Mexican lender Banorte is waiting for local regulators to fine-tune rules on new style bank capital instruments, its chief executive has told LatinFinance. “In terms of issuing new instruments, cocos [Contingent Capital] and things like that, it hasn’t been truly tested,” Alejandro Valenzuela, Banorte’s chief executive, said in regards to the new style bank capital market in Mexico. “Today it’s a very illiquid and cumbersome market. We believe over the future it will have to develop and clearly

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