February 9, 2021
Mexico's central bank, Banco de México, said it will offer loans to local financial institutions that cannot find correspondent banks to buy dollars in the United States.
The bank, also known as Banxico, included the credit line in a list of proposals to make it easier for Mexican immigrants in the United States to open bank accounts and send remittances home.
"Banco de México will provide facilities to financial institutions that have difficulties repatriating dollars in cash through guaranteed
Mexican central bank could provide credit for financial institutions that cannot find a US counterpart to buy dollars