Both the National Banking and Securities Commission (CNBV) and the Commission for the Protection and Defense of Users of Financial Services (Condusef) would maintain their budget for 2023 if compared to what was initially approved for this year.
According to the Draft Budget of the Federation 2023, the CNBV would receive resources in the order of 1,589 million pesos for the following year, that is, a reduction of just 1% in real terms compared to what was initially approved for this 2022.
The budget of this authority is made up of three schemes: financial system, competitive, efficient and with greater coverage; administrative support and civil service and good governance.
Regarding the competitive, efficient financial system program with greater coverage, the CNBV will receive 1,346 million pesos, that is, 1.7% less in real terms than what was approved in 2022; while the resources both in administrative support, and in public function and good governance will have increases of 2.6% and 4.1%, respectively.
“Authorizations of new entities, inscriptions and cancellations in the registries will be attended: national securities, exchange centers, money transmitters and investment advisers, among others. The strengthening of the substantive tasks will be consolidated and the solidity and development of the Mexican financial system, in accordance with best international practices”, can be read in the document prepared by the Ministry of Finance.
Regarding the number of places planned for 2023, the CNBV could have 1,658, which are the same contemplated in the budget for this 2022.
Budget for user protection
For the Condusef, it is expected that next year it will have a budget of around 625 million pesos, that is, a reduction of 0.5% in real terms compared to what was approved for this 2022.
Like the CNBV, the Condusef budget is based on three schemes: a competitive, efficient financial system with greater coverage; administrative support services and public function and good governance.
Only the public function and good governance scheme would have an increase of 1.3% compared to what was approved for this 2022, while the other two will have minimal reductions.
“Regulation and supervision activities will continue, focused on contributing to the achievement of the national objectives of promoting inclusion, education, competition and transparency of the financial, insurance and pension systems to increase their penetration and coverage”, it is highlighted. in the draft budget for 2023 regarding the Condusef.
Regarding the number of places planned for this body in 2023, it is estimated that a total of 666 will be approved, which is the same number as in 2022.
Both organizations had upward modifications in their initially approved budgets for this 2022.
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