Fobaproa

FOBAPROA (Fondo Bancario de Protección al Ahorro or "Banking Fund for the Protection of Savings") is a contingencies fund created in Mexico in 1990 to attempt to resolve liquidity problems of the banking system in that country. The Fobaproa was applied in 1995 during the economic crisis to protect all Mexican banks from going bankrupt, and thus destroying the Mexican Economy. However, a number of corruption cases involved in the action have been discovered and since then, it has become an object of criticism by members of the opposition.