Bank of Spain
People: Central banks of Spain and Afghanistan appoint new deputy governors
Career central banker Javier Alonso promoted to deputy in Spain, Bank of Afghanistan names new first deputy governor, and more
Spanish deputy governor hints at need for European banking mergers
Restoy says supervisors should not promote specific integrations
Spanish paper looks at eurozone inflation expectations
Pan-eurozone factors are more important than country-specific forces, paper says
Oil price rises and US GDP growth have ‘complex relationship’ – paper
Paper studies interaction of oil price and economic growth in US from 1875 to 2016
ECB's bank watchdog warned on NPL clean-up drive
SSM may need clearer enforcement process to boost bad loan provisioning, says regulator
Bank of Spain paper explores links between fiscal consolidation and private deleveraging
Larger and faster fiscal consolidations have greater impact on output, authors argue
'Institutional repositories' can boost research – Bank of Spain’s Selgas
Organising materials in an efficient manner online can support research and collaboration, says Bank of Spain’s chief librarian; system expected to launch in 2017
Paper examines effects of financial crisis on European long-term debt issuance
Bank of Spain paper uses large database on most frequent issuers of long-term debt
Rise of services in advanced economies weakens transmission of monetary policy, paper argues
The transmission of monetary policy in advanced economies is weakened by the greater prominence of services, a Bank of Spain working paper argues; researchers use data from US
European banks’ structure helps drive dollar-denominated debt issuance – paper
Bank of Spain paper examines the most prolific dollar-denominated debt issuers among European banks, finding issuance is driven by range of factors, including desire to hedge
Stronger Spanish banks still vulnerable to global risks – report
Spanish banks increase solvency over course of 2015, Bank of Spain report says, although decline continues in lending; main risk comes from global instability
Researchers propose new measure for US fixed-income market liquidity
Authors say it is the first index to apply financial stress indicator methodologies to both US government and corporate debt securities
Spanish paper explores low TFP growth during expansion
Working paper notes total factor productivity fell between 1995 and 2007 despite solid growth rates in the economy; highlights misallocation of production factors within industry
FinCoNet offers regulators chance to advance financial consumer protection – chairman
The association of national financial consumer protection agencies has made progress in supporting reform, but has considerable work ahead, chairman Sheridan says
People: Mozambique deputy moves to airline; Mervyn King joins Aston Villa FC board
Bank of Mozambique deputy moved from central bank to national airline; former BoE governor joins premier league team board of directors; and more
Spanish paper models synergies between demand and supply policies in monetary union
Working paper model sees benefits in jointly implementing structural reforms in the ‘periphery’ of a union, with fiscal expansion in the ‘core’ and forward guidance on interest rates
Spanish paper finds issues with Basel III approach to calculating risk-weighted assets
The approach to calculating banks’ risk-weighted assets introduced by Basel III may create incentives for ‘regulatory arbitrage’, a Bank of Spain paper argues
Spanish paper offers guide to using BIS data
A paper published by the Bank of Spain offers an introduction to the statistical data on international banking published by the BIS
‘Great moderation’ due to weaker recoveries, paper argues
The ‘great moderation’ in the US economy is still significant if analysed using a longer data set than previously, researchers argue; one of two significant falls in US volatility since 1875
Increases in securitisation may lead to under-pricing of risk, study argues
Increased asset securitisation reduces premia on bonds and equities, Bank of Spain working paper says; decrease in cost of risk may not be related to an actual fall in risk
Spanish ‘bad bank’ must revise valuations of half of remaining assets
The Bank of Spain says Sareb, the country’s ‘bad bank’, must publish revised valuations of half of its assets by the end of the year; publishes criteria for company to use
Spanish paper puts crisis legacy into context
Working paper suggests long-run trends in population and productivity growth could hamper the ability of policy-makers to address the legacy of the crisis
IMF's Viñals says central banks must be 'market-makers of last resort'
Monetary policy and regulation have amplified illiquidity, says IMF's Viñals
‘Climate of greater optimism’ prevails in Spain
Financial stability report identifies many signs the economy has turned a corner and financial markets are beginning to recover, although credit to the private sector continues to fall