Jiménez, Salvador archivos

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).

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).