Overall, household debt levels have risen sharply over the past decades in EU Member States. While certain levels of household debts can be beneficial, they can become problematic especially with a sudden, unexpected decrease of incomes or increase of expenditures. The current financial crisis...

A workshop on the "The Impact of the Crisis on SMEs" was held in the European Parliament in Brussels on 1 February 2010. This document contains the programme, presentations and proceedings of that workshop.

Over the Past two and a half years banks have failed at the fastest pace since the Great Depression. These rapidly mounting bank failures have rekindled a debate surrounding the use of fair value accounting, with many arguing that fair value has exacerbated the severity of the recent financial...

An important goal of financial risk regulation is promoting coordination. Law's coordinating function minimizes costly conflict and encourages greater uniformity among market participants. Likewise, privately developed market standards, such as standard-form contracts and rules incorporated into...

The financial crisis of 2007-2008 led to extraordinary government intervention in firms and markets. The scope and depth of government action rivaled that of the Great Depression. Many traded markets experienced dramatic declines in liquidity leading to the existence of conditions normally...

Este estudio une los desarrollos recientes sobre la metodología de crecimiento en riesgo con la literatura sobre evaluaciones de impacto de la política macroprudencial. Para ello, extiendo el uso de regresiones cuantílicas del crecimiento del PIB con el objetivo de incluir variables...

Para los bancos centrales son cruciales el desarrollo y el mantenimiento de un marco de identificación de riesgos que permita la detección temprana de posibles amenazas para la estabilidad financiera y que facilite la aplicación de las políticas más adecuadas. Este documento resume los...

Este documento propone un indicador agregado de alerta temprana de riesgo sistémico en el sector bancario. El indicador se obtiene de la estimación de un modelo logístico basado en las variables del sistema americano de calificación de riesgo CAMELS, complementado con variables...

Utilizando datos granulares de la Central de Información de Riesgos del Banco de España, estudiamos uno de los canales de contagio a través de los cuales se pueden transmitir las tensiones en los mercados financieros —el canal de la calidad crediticia—, enfocándonos en el mercado...

This article discusses the impact of digitalisation on the structure of the European banking system. The recent wave of financial innovation, based on the opportunities created by digitalisation in terms of new products or new services, has come mostly from outside the incumbent banking system....