CARGA_INICIAL20200528
Spanish and European banks’ net interest margins (NIM) are proving highly volatile due to the “volume effect” on credit, as well as the difficulties in layering a negative rates component into funding costs. Going forward, the considerable sensitivity of banks’ NIM could increase in 2022, depending on the level of compliance with TLTRO eligibility benchmarks.
El objetivo del presente artículo es analizar el impacto potencial que el incumplimiento de dichos benchmarks tendría sobre el margen de intermediación en la banca española y europea
In order to alleviate the pressure wrought by COVID-19 on the banking sector, regulators and supervisors permitted banks to utilise capital buffers prescribed under Basel III, including the so-called counter-cyclical buffer and the capital conservation buffer. Econometric analysis shows that the 'stigma effect' most likely explains banks' hesitancy to take advantage of this flexibility.
The ECB’s climate stress tests slated for 2022 will differ from traditional stress tests in terms of governance, objective, methodology, scenarios and scope. Nevertheless, the ECB’s deep engagement with this issue suggests a high probability that climate risks will be integrated into conventional stress tests in the future.