credit institutions operate. …

This paper analyses the cyclical behaviour of bank credit, loan losses and provisions for loan losses in Spain. These … and regulators. In a context of strong competitive pressures, there is a tendency for loose bank credit conditions in an … upturn in view of the low level of contemporaneous non-performing loans. This may contribute to an over-extension of credit …

household credit, considering that the behaviour of its determinants is exogenous. According to the evidence reported, household …

Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with … a comprehensive database of Spanish corporate credit lines. A line’s default status is a key factor driving its usage … decisions, and credit line usage is found to be inversely related to macroeconomic conditions. …

current and anticipated changes in banks’ capital on firm lending. We isolate the role of credit supply factors using the …. The relatively small magnitude of credit supply factors may be explained by the weakness of loan demand in a context of a …

Mercantile Registry and the Bank of Spain Credit Registry (CIR) to classify firms according to their number of banking relations … find that unbanked firms have a financial structure which is close to credit subject to moral hazard with unobserved effort …

During the last crisis, developed economies’ sovereign Credit Default Swap (hereafter CDS) premia have gained in … importance as a tool for approximating credit risk. In this paper, we fit a dynamic factor model to decompose the sovereign CDS …

This article estimates a general credit risk model with both macroeconomic and latent credit factors for Spanish banks … during the period 2004-2010. The proposed framework allows to estimate with bank level data both the standard credit risk … model of Basel II and generalized models. I fi nd evidence of persistence in the credit latent factor and of a signifi cant …