Just in time: US banks slash exposure to Mexico

1/26/2017 CNBC

piggy bank with coinsWhether by foresight or mere good fortune, U.S. banks have reduced their exposure to Mexico just as tension between the two countries is heating up.

Over a two-year period, domestically based financial institutions cut their dealings with Mexico by 13 percent, according to consulting and analysis firm SNL Financial. The 11 U.S. banks with the most Mexico exposure have a combined $96 billion in cross-border claims.

By far the bank with the most Mexico-related business is Citigroup, which has been working to pare its $65.8 billion in exposure. That number represents a 23 percent decline from the third quarter of 2014 through the same period in 2016, SNL reported.

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