Berges, Ángel

CoCos and bank resolution: Overcoming March stigma

31 enero 2024

Given the fact that they are considered loss absorbing instruments in the event of resolution, CoCos have emerged as a very important barometer for measuring confidence in the banking system. Although the bail-in of CoCos during the rescue of Credit Suisse created a stigma that prompted the global CoCo market to collapse, the market has recovered in recent months, marked by a significant rebound in prices and, above all, in issuance activity.

CoCo´s y resolución bancaria: superado el estigma de marzo

24 enero 2024

En este artículo se analizan las características de los CoCo como instrumento de potencial reforzamiento de recursos propios (going concern), y de absorción de pérdidas en eventos de resolución (gone concern).

Mortgage prepayment: An alternative to saving

29 noviembre 2023

After one year of intense interest rate increases, coupled with very slow pass-through to deposit rates, households have moved decisively to reconfigure their savings, and also
their borrowings. In this process of recomposition of household financial flows and the search for an alternative to deposits, the early cancellation of debts, especially variable rate mortgages, which are undoubtedly the most affected by the rise in interest rates, has
gained increasing significance.

Cancelación de hipotecas como alternativa de ahorro

22 noviembre 2023

Este artículo analiza la magnitud del proceso de cancelación anticipada de hipotecas mediante un análisis conjunto de las series de concesión hipotecaria y de saldos vivos de dicho tipo de deuda, así como su contraste con las métricas históricas de vencimiento natural de la deuda hipotecaria.