Articles
Business dynamism in Spain in the wake of recent crises
Autores:
Xifré, Ramon
Since its deregulation 50 years ago, the Spanish banking sector has been shaped by significant structural transformation as a result of the need to adapt to an ever-changing environment, to which it has demonstrated resilience and flexibility. On top of profitability pressures, the management of…
Spain’s private sector debt service ratio: An international comparison
Autores:
Maudos, Joaquín
The rate tightening embarked on by the ECB in mid-2022 has had a negative impact on debt sustainability for both Spanish corporations and households; however, the ultra-low rate environment until 2022, together with ongoing private sector deleveraging, offset the spike in interest rates such that…
Spain’s household and non-financial corporate (NFC) accounts for 2023
Autores:
Fernández, María Jesús
Whereas in 2022, corporate income registered significant growth, nearly revisiting pre-pandemic levels, in 2023, it was household income that was more dynamic. By comparison with 2019, in nominal terms, the income gap between the non-financial corporate (NFC) and household sectors widened, revealing an incomplete recovery…
Interest rate risk hits central banks
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…
Deposits and the transmission of monetary policy
Bank deposits have been shown to play a role in shaping monetary policy and access to credit. Crucially, firms entering the tightening cycle relying on credit from lenders with higher duration gaps could be significantly less likely to obtain funding as tightening starts, with this…