Compañía y anexas

21:17 Mar 14, 2007 

Hi Patricia. No problem! I wasn't aware of the background information i.e. prior to Mexican Revolution. Anyway, good luck.

20:33 Mar 14, 2007 

Taña: The research is welcomes, but at least for my case (certainly not likely to come up often here at ProZ), these are all companies that operated before the Mexican Revolution, and they are now long gone...along with their affliates and subsidiares ;-)

20:24 Mar 14, 2007 

Curiosity got the better of me, i.e. subsidiary vs. affiliate and for what it is worth, I am posting a link that I found. See http://www.ustreas.gov/press/releases/rr3125.htm 2. Subsidiary vs. Affiliate

As I've previously explained, using subsidiaries rather than affiliates helps protect the FDIC. In the same way and for the same reasons the subsidiary structure also helps protect other unsecured creditors of the bank. By conducting an activity through a subsidiary rather than an affiliate, a firm that includes a bank places the assets associated with that activity within the reach of the bank's creditors. If the bank does poorly, the bank's interest in the subsidiary can be sold and the proceeds used to pay the bank's creditors. By contrast, conducting that same activity through a nonbank affiliate places the assets in question beyond the reach of the bank's creditors.

The resulting difference in the bank's funding costs reflects a real difference in credit risk: by placing assets within the reach of its creditors (in a subsidiary), the bank makes itself a better credit risk than it would have been had it placed those assets outside the reach of its creditors (in an affiliate). The creditors therefore reward the bank with a lower funding cost.

This result, far from being perverse, also reflects reduced risk to the FDIC. As regards the choice between the subsidiary and affiliate structures, the FDIC and a bank's other unsecured creditors have closely parallel interests. The subsidiary structure, by increasing the assets available to the bank's creditors and the FDIC, reduces risk to those creditors and the FDIC. The affiliate structure, by reducing the assets available to the bank's creditors and the FDIC, increases risk to those creditors and the FDIC.