This paper presents the Banco de España’s reference framework for the analysis of macroeconomic and financial risk, and the impact of the materialisation of this risk on financial stability and the real economy. The framework encompasses a broad set of empirical and theoretical models and...

Este documento presenta el marco de referencia del Banco de España para el análisis del impacto de la materialización de riesgos macroeconómicos y financieros sobre la actividad real y la estabilidad financiera. Este marco incluye un amplio conjunto de modelos y métodos, tanto empíricos...

The European Systemic Risk Board was established in the wake of the global financial crisis as the authority responsible for the macroprudential oversight of risks to the stability of the European Union financial system. In its first decade, the European Systemic Risk Board’s activity has been...

This paper examines how Japan’s long-term interest rates and Japanese banks’ interest rate risk exposures may evolve under Abenomics. Results from a panel regression analysis for major advanced economies shows that long-term government bond yields in Japan are determined to a large extent by...

Fighting climate change is one of the biggest challenges in the 21st century. Climate change that leads to global warming has been increasingly visible in our environment. Extreme weather conditions such as hurricanes, floods, and droughts have been escalating and their acceleration can be...

We study the design features of disclosure regulations that seek to trigger the green transition of the global economy and ask whether such regulatory interventions are likely to bring about sufficient market discipline to achieve socially optimal climate targets. We categorize the transparency...

1 Introduction -- 2 Towards a European Green Bond Standard: A European initiative to promote sustainable finance -- 3 Member States sovereign green bond issuance and the development of local green bond markets in the EU -- 4 Issuing a green bond – a practical perspective -- 5 Issuing green...

Evento: VI Foro Banca Consumer Axactor ; Es necesario aumentar la resiliencia de las entidades con provisiones y capital y hay que ser cautelosos con el segmento de crédito al consumo porque requiere máxima agilidad. Es importante reflejar y clasificar adecuadamente el riesgo de crédito,...