Overview
- Navarrete, proposed by President Claudia Sheinbaum, was sworn in after Tuesday’s Senate vote that passed 90–12 with 9 abstentions, making him a voting member of Mexico’s deposit insurance board.
- In his committee hearing, he said IPAB’s debt fell to 310 billion pesos by March 2026, a 55% drop he tied to paying the real interest on debt and issuing protection bonds with three, five, and seven-year maturities.
- He pointed to sector strength in February 2026, citing a 20.38% capital ratio and a 2.5% past-due loan rate, and said IPAB has protected deposits when regulators revoked bank licenses.
- His portfolio includes overseeing bank wind-downs, including the ongoing liquidation of CI Banco, where authorities allowed limited fund transfers so cash can be applied to the bank’s obligations.
- For savers, IPAB insures about 99% of bank accounts up to 400,000 UDIS, or roughly 3.5 million pesos, and it has previously acted after license losses at Banco Ahorro Famsa in 2020 and Banco Accent in 2021.