Jiménez, Salvador archivos

Bank bond spreads after the Global Financial Crisis: From fragility to fundamental strength

23 julio 2025

Once seen as safer and cheaper than corporate debt thanks to its regulated profile and implicit government backing, since the 2008 financial crisis, bank-issued debt has carried a risk premium, driven by regulatory shifts, sovereign exposures, and profitability concerns. Recent improvements in capital generation, liquidity, and diversification suggest that the premium may no longer be justified on fundamental grounds.

Desaparición de la prima bancaria frente al crédito no financiero

17 julio 2025

Este trabajo aborda un fenómeno que ha transformado los mercados
desde la crisis de 2008: la pérdida de ventaja de financiación de los bancos frente a las empresas no financieras.

Interest rate risk hits central banks

5 junio 2024

The interest rate risk deriving from the mismatch between asset and liability maturities and/or repricing, which had spread across the US banking system one year ago, has now hit the central banks – with some reporting zero profit, or even losses in 2023. While this phenomenon is not expected to have implications for financial markets stability, there may be important implications related to fiscal policy and monetary policy settings going forward.

El riesgo de tipo de interés llega a los bancos centrales

30 mayo 2024

En este artículo se analiza la estructura de activos y pasivos de la Reserva Federal Estadounidense (Fed), el Banco Central Europeo (BCE) y Banco de España (BdE).