Market discipline: a review of the Mexican deposit market

Latin American Economic Review

Table 6 Correlation matrix (pairwise)

	Total deposits	Short-term deposits	Long-term deposits	IIRDE	GROWTHDE	MATURITYDE	CAPITAL
Total deposits	1
Short-term deposits	0.99	1
Long-term deposits	0.95	0.89	1
IIRDE	−0.41	−0.42	−0.38	1
GROWTHDE	−0.05	−0.05	−0.06	−0.09	1
MATURITYDE	−0.28	−0.31	−0.19	0.60	0.08	1
CAPITAL	0.95	0.94	0.90	−0.39	−0.05	−0.27	1
ASSETS	0.98	0.97	0.93	−0.41	−0.04	−0.28	0.97
CAPITALR	−0.18	−0.16	−0.20	0.28	0.002	0.13	−0.13
RESERVE	−0.08	−0.07	−0.09	−0.05	−0.11	0.19	−0.07
DOUBTFUL	−0.18	−0.16	−0.22	0.24	−0.06	−0.25	−0.20
ROA	0.10	0.09	0.11	−0.04	−0.08	−0.02	0.11
ROE	0.17	0.16	0.18	−0.11	−0.06	−0.07	0.17
MANAGEMENT1	−0.21	−0.17	−0.26	0.20	0.09	−0.06	−0.22
MANAGEMENT2	−0.11	−0.10	−0.13	0.15	−0.02	−0.01	−0.12
LIQUIDITY1	0.01	0.02	0.01	−0.17	0.11	−0.20	0.01
LIQUIDITY2	−0.19	−0.19	−0.19	0.06	0.05	0.19	−0.17
Z-SCORE	0.20	0.17	0.23	−0.14	−0.05	0.05	0.18
EXPOSURE	−0.25	−0.23	−0.26	0.17	−0.08	−0.03	−0.22
CETES	−0.02	−0.03	0.01	0.38	0.004	0.05	−0.04
Loan growth	−0.07	−0.06	−0.08	−0.08	0.25	0.01	−0.06

	ASSETS	CAPITALR	RESERVE	DOUBTFUL	ROA	ROE	MANAGEMENT1
ASSETS	1
CAPITALR	−0.19	1
RESERVE	−0.07	0.00	1
DOUBTFUL	−0.20	0.34	−0.13	1
ROA	0.11	−0.43	0.01	−0.47	1
ROE	0.18	−0.45	−0.04	−0.53	0.89	1
MANAGEMENT1	−0.23	0.68	−0.05	0.46	−0.44	−0.39	1
MANAGEMENT2	−0.12	0.39	−0.001	0.37	−0.74	−0.66	0.51
LIQUIDITY1	−0.01	0.17	0.03	0.09	0.03	0.05	0.25
LIQUIDITY2	−0.17	0.17	−0.05	−0.10	0.08	0.08	0.04
Z-SCORE	0.17	−0.17	−0.06	−0.30	0.22	0.24	−0.26
EXPOSURE	−0.21	0.19	0.05	0.15	0.01	−0.03	0.12
CETES	−0.03	0.05	0.02	0.06	−0.09	−0.07	0.02
Loan growth	−0.07	−0.006	0.07	−0.16	−0.05	−0.04	0.09

	MANAGEMENT2	LIQUIDYTY1	LIQUIDYTY2	Z-SCORE	EXPOSURE	CETES	Loan growth
MANAGEMENT2	1
LIQUIDITY1	0.02	1
LIQUIDITY2	−0.06	0.25	1
Z-SCORE	−0.18	−0.12	0.003	1
EXPOSURE	0.09	0.00	0.06	−0.17	1
CETES	0.01	0.13	0.08	−0.02	−0.05	1
Loan growth	0.06	−0.04	0.02	−0.05	−0.06	0.02	1