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Why do spanish firms rarely use the bankruptcy system? The role of the mortgage institution
García-Posada, Miguel; Mora-Sanguinetti, Juan S. - Banco de España - 2012
the Spanish bankruptcy system relative to that of an alternative insolvency institution, the mortgage system, and the …
Persistent link: https://www.econbiz.de/10010678678
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Insolvency institutions and efficiency: the Spanish case
García-Posada, Miguel - Banco de España - 2013
, namely the mortgage system, mean that firms and their creditors mainly deal with credit provision and eventual insolvency … through the latter. However, in order to use the mortgage system, some firms must overinvest in capital assets (real estate …, equipment) since those are the assets that can be pledged as mortgage collateral. This overinvestment leads to productive …
Persistent link: https://www.econbiz.de/10010678693
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Are there alternatives to bankruptcy? a study of small business distress in Spain
García-Posada, Miguel; Mora-Sanguinetti, Juan S. - Banco de España - 2013
main alternative procedure, the mortgage foreclosure; (ii) personal bankruptcy law is unattractive to the individual debtor …
Persistent link: https://www.econbiz.de/10010705525
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China's banking reform: An assessment of its evolution and possible impact
García-Herrero, Alicia; Gavilá, Sergio; … - Banco de España - 2005
The Chinese banking system, characterized by massive government intervention, poor asset quality and low capitalization, has started a reform process based on three main pillars: (i) bank restructuring, through the cleaning-up of non-performing loans and public capital injections, particularly...
Persistent link: https://www.econbiz.de/10004999271
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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
This paper finds strong empirical support of a positive, although quite lagged, relationship between rapid credit growth and loan losses. Moreover, it contains empirical evidence of more lenient credit terms during boom periods, both in terms of screening of borrowers and in collateral...
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...
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
The paper sets an accounting and behavioral framework from which we derive a reduced form equation to test income smoothing and capital management practices through loan loss provisions (PLL) by Spanish banks. Spain offers a unique environment to perform those tests because there are very...
Persistent link: https://www.econbiz.de/10005022266
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An assessment of Basel II procyclicality in mortgage portfolios
Saurina, Jesús; Trucharte, Carlos - Banco de España - 2007
In this paper we develop a probability of default (PD) model for mortgage loans, taking advantage of the Spanish Credit … focus on the mortgage portfolio since it is one of the most under researched areas regarding the impact of Basel II and …
Persistent link: https://www.econbiz.de/10005022292
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What do premiums paid for bank M&As reflect? The case of the European Union
Hagendorff, Jens; Hernando, Ignacio; Nieto, María J.; … - Banco de España - 2010
We analyze the takeover premiums paid for a sample of European bank mergers between 1997 and 2007. We find that acquiring banks value profitable, high-growth and low risk targets. We also find that the strength of bank regulation and supervision as well as deposit insurance regimes in Europe...
Persistent link: https://www.econbiz.de/10008620574