Articles
Monetary policy and business lending: Impact on pricing
The recent reversal of the ECB´s unconventional monetary policy is already driving interest rates higher, raising the risk of triggering an increase in corporate bankruptcies, which would increase the private sector´s marginal cost of borrowing even further. As interest rate hikes have started around the…
Translating EURIBOR increases into improved banking margins: Differential timing on asset and liability repricing
After more than five years of abnormally low, even negative, interest rate levels in the case of the 12-month EURIBOR, the fact that rates have turned positive and look likely to stay there on a structural basis foreshadows a clearcut improvement in the banking sector’s…
Spanish banks ahead of the return to positive interest rates
Now that interest rates are finally back in positive territory, banks have the opportunity to advance on the challenge of increasing profitability. However, prevailing macroeconomic conditions of uncertainty and pessimism, together with risks, both those carried over from the previous financial crisis and emergent ones,…
Spain: Reduced vulnerability to gas rationing relative to other European countries
Spain´s lower expected reduction in demand under the pan European plan, together with a generally lower consumption of Russian gas by the country´s industry, translates into less sensitivity to current geopolitical tensions. Nonetheless, Spain will still be exposed to the risks generated by the adverse…
How different EU Member States are dealing with the energy crisis
Autores:
Torres, Raymond
Policy responses across Europe to address the energy crisis have obvious similarities, but they also show some relevant differences. Dependencies on Russian gas and the health of public finances to provide state aid are two of several factors that are conditioning how EU Member States…