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 Business News | December 2007 
Mexico Eyes Bond Sales Direct to Small Investors
 Noel Randewich - Reuters
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 |  | Directly selling debt would be an opportunity to keep improving access to financial services for low- and middle-income families. |  | |
Mexico City - Mexico's central bank may sell T-bills and government bonds directly to small investors next year, bypassing banks and mutual funds criticized for paying clients meager or no returns.
In its annual debt review, the government said selling debt straight to Mexicans would help dispel the belief that only big business has access to attractive investments.
"Directly selling debt would be an opportunity to keep improving access to financial services for low- and middle-income families," the government said.
Mexico's banking industry, dominated by foreign players like Citigroup (C.N), Spain's BBVA (BBVA.MC) and HSBC (HSBA.L), is often accused of charging consumers unreasonably high interest on loans and paying stingy rates on deposits.
Many Mexican checking accounts pay no interest, while mutual funds often have trouble beating the inflation rate, currently near 4 percent.
In a government auction on Tuesday, Mexico's one-month T-bills, or Cetes, sold at yield of 7.44 percent.
(Editing by Jonathan Oatis) |
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