This paper investigates the impact of central banks when supporting policies aiming at greening the financial system. The July 2021 Monetary Policy Strategy Review of the European Central Bank unexpectedly dedicated a whole workstream to climate change. The announcement had a significant effect...

The crypto asset market has seen notable growth in recent years, along with changes in its value. This expansion, along with its increasingly high integration into traditional monetary and financial systems, has raised the potential risks for the economy. However, monitoring this activity is not...

Evento: Presentación del Informe de Estabilidad Financiera. Primavera 2024. Organizado por: Banco de España ; Incluye presentación en inglés: Financial Stability Report. Spring 2024 ; Se observa una cierta contención de las vulnerabilidades y riesgos para la estabilidad financiera, que se...

Evento: Presentación de revisión del marco para la fijación del colchón de capital anticíclico y de establecimiento de su porcentaje. Organizado por: Banco de España. ; El Banco de España inicia el procedimiento de revisión del marco de fijación del colchón de capital anticíclico...

Evento: 19 IESE Banking “Surfing the wave of Uncertainty”. Organizado por: IESE ; Incluye traducción al inglés del original en español: Revision of the framework for setting the countercyclical capital buffer in Spain: greater banking resilience in adverse phases of the cycle and...

Climate change poses significant challenges through rising temperatures, extreme weather events, and the exposure of economic (and societal) systems to these dangers. The irreversible and potentially non-linear nature of climate change, together with evolving technological and policy landscapes,...

There is growing acknowledgement among policymakers that climate change may give rise to potentially catastrophic financial risk and impact financial stability. This paper explores the specific features of climate-related financial risks (CRFR), drawing on a growing body of macrofinancial...