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IPS155 Manuel S. V. et al.
This specialization was the result of an agreement to reduce the regulatory
burden of information reporting and to share financial information between
financial authorities. In 2000, different financial authorities signed this data
sharing agreement: Banco de Mexico, the Ministry of Finance (SHCP), the Bank
and Securities Supervisor (CNBV), the Financial Service protection Agency
(CONDUSEF), the Deposit Insurance Agency (IPAB), and some years later, the
Pension Funds Supervisor (CONSAR). Recently, the 2008 financial crisis and the
international initiatives to improve financial stability, have implied several
improvements in the acquisition, management and sharing of financial
information, including the G-20 data gaps initiatives, the implications of Basel
III, the initiative to mitigate risks in the Over the Counter (OTC) derivatives
market, shadow banking, among other.
Financial information at the level of market operations microdata allows
attending different users and information needs, such as open risk positions
of an individual institution or the network of exposures in different markets
and in the whole financial system. The increased complexity of the
interlinkages, instruments and institutions, require increasing capacity to
identify potential risks, even though the costs of a detailed model of microdata
is high, specially “in times of financial turmoil, the advantages of having the
precise information surpasses any maintenance costs associated with such a
model, nonetheless, there are also great benefits in steady times” (Gaytán,
2014). The costs of such an information model are high, both for the authority
that collects it and for the reporting institutions. Thus, to maximize the social
value of this model, it is important to broaden its use by improving data
sharing schemes among authorities and find ways to provide wider access to
academic researchers, market analysts and the public.
The paper proceeds as follows: section 2 presents a description of current
data sharing schemes at Banco de Mexico. In section 3 describes
enhancements on the scope of information of the financial system managed
by Banco de Mexico, focusing on information of derivative operations.
Meanwhile, section 4 describes recent undertakings to expand data sharing
with other Mexican financial authorities and the improvement of tools for data
dissemination for diverse audiences. Finally, section 5 mentions some
challenges ahead regarding data sharing.

2. Current Schemes for Data Sharing at Banco de Mexico
The 2000 agreement signed by financial authorities to coordinate actions
to compile, store, share and disseminate the information received from
financial intermediates, set the foundations of a more efficient system of
financial reporting to authorities (Gaytán and Sánchez, 2017).
Currently, Banco de Mexico uses three main schemes for sharing data with
other financial authorities and information users (Figure 1). First, a Central Data

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