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Articles
Scant use of capital buffers during the pandemic: Potential stigma effect
In order to alleviate the pressure wrought by COVID-19 on the banking sector, regulators and supervisors permitted banks to utilise capital buffers prescribed under Basel III, including the so-called counter-cyclical buffer and the capital conservation buffer. Econometric analysis shows that the 'stigma effect' most likely…
Banks poised for the ECB’s debut climate risk stress tests
The ECB’s climate stress tests slated for 2022 will differ from traditional stress tests in terms of governance, objective, methodology, scenarios and scope. Nevertheless, the ECB’s deep engagement with this issue suggests a high probability that climate risks will be integrated into conventional stress tests…
Stress tests and other challenges for Spanish banks
The stress tests carried out by the European authorities showed that the Spanish banking sector looks highly resilient to adverse scenarios, despite the fact that the scenario modelled for Spain was among the toughest in the eurozone. Nevertheless, transition towards an even more stringent regulatory…
The Fed’s new monetary policy strategy: Could added flexibility impair financial stability?
Autores:
Díez Guijarro, José Ramón
The new monetary policy strategy adopted by the Federal Reserve last year has impacted both inflation expectations and the risk premia. However, analysis suggests it is unlikely to push yields high enough to threaten financial stability.
The ECB’s new look
Autores:
Jones, Erik
The results of the ECB’s monetary strategy review announced in July suggest Christine Lagarde has succeeded in her promise to transform how the ECB works and how it communicates with the outside world. However, her first real test will come as the Bank begins to…