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What role, if any, can market discipline play in supporting macroprudential policy?
Nieto, María J. - Banco de España - 2012
This paper focuses on market discipline as a necessary condition to preserve the signaling content of balance sheet indicators and market prices as macroprudential tools. It argues that market discipline enhances the information content of market prices by reflecting the expected private cost of...
Persistent link: https://www.econbiz.de/10010693318
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The Impact of the Global Economic and Financial Crisis on Central Eastern and SouthEastern Europe (CESEE) and Latin America
Gallego, Sonsoles; Gardó, Sándor; Martin, Reiner; … - Banco de España - 2010
This paper reviews the impact of the global economic and financial crisis on two distinct emerging market regions: Central, Eastern and Southeastern Europe (CESEE) and Latin America. Similar to other emerging economies, both regions were initially surprisingly resilient as the crisis gathered...
Persistent link: https://www.econbiz.de/10008587080
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Local versus aggregate lending channels: the effects of securitization on corporate credit supply
Jiménez, Gabriel; Mian, Atif; Peydró, José-Luis; … - Banco de España - 2011
banking relationships. Credit terms however become softer, but there are no real effects. Securitization implies a credit …
Persistent link: https://www.econbiz.de/10009319591
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The impact of financial (de)regulation on current account balances
Moral-Benito, Enrique; Roehn, Oliver - Banco de España - 2014
Global imbalances and financial market (de)regulation both feature prominently among the potential causes of the global financial crisis, but they have been generally discussed separately. In this paper, we take a different angle and investigate the relationship between financial market...
Persistent link: https://www.econbiz.de/10010894465
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Short-sale constraints and financial stability: Evidence from the Spanish market
Arce, Óscar; Mayordomo, Sergio - Banco de España - 2014
We examine the effect of the short-selling ban in 2011 on Spanish stocks on the level of risk in the banking sector …
Persistent link: https://www.econbiz.de/10010862259
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Boom-bust cycles, imbalances and discipline in Europe
Alberola, Enrique; Molina, Luis; Río, Pedro del - Banco de España - 2012
The fallout from the 2008 financial crisis has been particularly acute in the euro area Member States of the south-western rim and in the new EU Member States, due to their previously accumulated macroeconomic and financial imbalances. The perception that the euro environment provided a solid...
Persistent link: https://www.econbiz.de/10010678679
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Do dynamic provisions reduce income smoothing using loan Loss provisions?
Pérez, Daniel; Salas-Fumás, Vicente; Saurina, Jesús - Banco de España - 2011
Spanish banks had to set aside a countercyclical loan loss provision during the period 2000 2004. The amount of such provision as well as the allowance accumulated had to be disclosed by banks. The former creates a natural experiment to test whether banks smooth earnings to mislead investors and...
Persistent link: https://www.econbiz.de/10009293111
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Credit cycles, credit risk, and prudential regulation
Jiménez, Gabriel; Saurina, Jesús - Banco de España - 2005
also develops a prudential tool, based on loan loss provisions, for banking regulators in order to cope with the former …
Persistent link: https://www.econbiz.de/10005155236
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Banking integration in Europe
Pérez, Daniel; Salas-Fumás, Vicente; Saurina, Jesús - Banco de España - 2005
The paper studies the evolution and determinants of banking integration across European countries, including New Member … States, with attention to the impact that the Euro might have on that process. It is the first time that banking integration … is being studied using the data on international consolidated banking assets provided by the BIS. The paper also presents …
Persistent link: https://www.econbiz.de/10005022235
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Earnings and capital management in alternative loan loss provision regulatory regimes
Pérez, Daniel; Salas-Fumás, Vicente; Saurina, Jesús - Banco de España - 2006
not of capital management. The paper draws some lessons for accounting rule setters and banking regulators regarding the …
Persistent link: https://www.econbiz.de/10005022266