Bank of Spain
Bank of Spain administrators file for Banco de Madrid bankruptcy
Spanish central bank announced today Banco de Madrid has filed for bankruptcy after a large withdrawal of funds ‘affected its ability to meet its obligations in a timely manner’
Bank of Spain takes over unit of Andorran bank facing US probe
Bank of Spain appoints two administrators to Banco de Madrid, after Andorran parent company named as ‘primary money laundering concern’ by US authority
Spanish deputy favours ‘moral persuasion’ in supervision
Fernando Restoy believes supervisors should have the ‘ability to influence the decisions’ of the managers of the entities it oversees through ‘moral persuasion’
Spanish paper finds relationship between number of lawyers and litigation rates
Working paper published by Bank of Spain warns not to read too much into results, but finds they are useful in conducting a ‘preliminary’ evaluation of recent reforms
Linde says ECB’s stimulus package is ‘ambitious’
Luis Linde, governor of the Bank of Spain, estimates the European Central Bank will buy €100 billion of Spanish government debt under its new asset purchase programme
People: Bulgarian deputy dismissed by parliament; HKMA appoints director
Bulgarian parliament dismisses central bank deputy governor over failure of a commercial bank; HKMA creates post of executive director for risk and compliance; and more
People: Fritz Zurbrügg appointed as SNB vice-chair; Vanoli gets nod from Argentine senate
SNB reshuffles board, with Zurbrügg assuming vice-chair after Danthine retires; Luis Linde replaces Ignacio Visco at the steering committee of the European Systemic Risk Board
Impact of flight to liquidity on bonds important for policy-makers, study finds
The effects of flight to liquidity episodes on bond markets ‘are important for policy-makers’, since they are associated with ‘lower macroeconomic confidence’, research finds
Linde fears ‘revival’ of debt sustainability concerns
Concerns about the sustainability of European sovereign debt have not disappeared and could be reactivated if the economic conditions worsen, says Linde
Healthy domestic variables can smooth rating downgrades, paper finds
Good domestic variables can help a country recover from a sovereign rating downgrade, but these fundamentals have little capacity to accelerate on an ‘upgrade cycle’, research finds
Spanish working paper explores inflation dynamics
Research considers the impact of different industrial structures on the response of inflation to technology, interest rate and entry cost shocks
Spain looks to create $7.5 billion resolution fund
Spanish government publishes draft bill that will transpose the BRRD into national law and establish a national resolution fund, in preparation for the SRM
Linde says Bank of Spain retains ‘important role’ in SSM
Bank of Spain governor says national central banks will play a vital role in the conduct of banking supervision under the new system
Productivity gains in the banking industry affect interest rates, study finds
More productive banks set lower interest rates on loans and higher rates on deposits, increasing their market share, according to a study by the Bank of Spain
Spanish economists adapt model on business cycle conditions to forecast growth
Working paper published by the Bank of Spain extends an existing model on US business cycle conditions to forecast GDP growth in real time
Linde points to growing ‘dynamism’ in Spanish economy
Bank of Spain governor expects 2% annual GDP growth in the fourth quarter of 2014 and throughout 2015, but insists there are risks to Spanish recovery
ECB releases rotation schedule for voting governors
New voting rotation system sees Spanish, Irish, Greek and Estonian governors sit out first decision in January; ECB allots €82.6 billion to 255 banks in first targeted LTRO
ECB appoints supervisory heavyweights to new review board
Governing council appoints five members to board, tasked with conducting reviews into ECB’s supervisory actions, including former central bankers from France, Germany, Italy and Spain
The ‘Great Moderation' shows no sign of ending, Spanish paper finds
The great recession did not mark an end to the great moderation whose low volatility could be hampering a recovery, according to a new paper
Spanish economists see short-run benefits in structural reforms
Working paper published by Bank of Spain says product and labour market reforms could boost output and employment now and in the future
Spanish economists devise system for detecting risks to budget forecasts
Working paper published by the Bank of Spain presents a new ‘toolkit’ to monitor the government budget in real time; authors say it will help protect state’s reputation
People: Bank of Spain bolsters supervisory staff; ECB advertises two more SSM posts
Bank of Spain fills two supervisory roles with internal promotions; ECB looks to hire two more deputy directors-general for SSM
Linde says reforms should focus on ‘twin engines of growth’
Bank of Spain governor says reforms are needed to mitigate the country’s ageing population and boost productivity
ECB names five SSM deputies
The European Central Bank appoints five deputy directors-general to its single supervisory mechanism with another two to follow; the Bank of Spain contributes a second senior supervisor