Central bank independence has never been more important, ensuring that central bankers are able to deliver on their mandates.

Banks and the government have mounted a major effort to extend financial services to those without them.

Mexico is a prominent example of an emerging-market economy with a world-class macroeconomic policy framework and stable financial system.

With relatively stable house prices in Texas, the incidence of underwater mortgages was a fraction of what occurred in hard-hit states.

The new charter lowers barriers to market entry in Mexico at a time when many other countries are making the banking industry less inviting.

Expanding trade has brought jobs and business to Texas, but has left the state particularly vulnerable to antitrade actions. Texas would suffer greatly if the U.S. and other countries implement protectionist measures.

Initial optimism has been replaced by increasingly dire predictions for Mexico's near-term economic outlook in response to the global economic slump. World trade flows have dried up, which is particularly damaging for nations like Mexico whose economic activity depends critically on exports. At...

In 2008-09, Mexico was wracked by the global financial crisis, suffering its largest one-year economic contraction since at least the 1930s. But the banking sector withstood the shock and made important strides in one area--bringing previously unbanked households into the financial system....