Articles
Newsletter: The key economic challenges facing the EU in 2022
Autores:
Torres, Raymond
This week we are revisiting the topic with concrete ideas on how the new rules should actually take shape.
Tapping into know-how and innovation through corporate venturing
To thrive in an era of rapid technological change, companies have two main options – to innovate from within or to grow externally, through partnerships with innovators. One of the more novel options for external growth is corporate venturing, which blends the financing and expertise…
Zombie firms: An analysis of business sector vulnerability post-COVID-19
Many companies that were not viable before the pandemic have survived thanks to financing and policy measures aimed at keeping money and credit flowing during the crisis. As support measures come to an end, these “zombie firms”, now exposed to increased borrowing costs on the…
Impact of the TLTRO and negative rates on banking margins
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,…
Spanish banks and monetary policy in 2022
With the COVID-19 pandemic still threatening economic recovery and inflation running the highest it has this century, monetary authorities in the US and Europe have taken different approaches to normalisation, with US monetary policy likely more hawkish in the shortterm. Within this context, Spanish banks…