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Ana Rubio
Ana Rubio

Lead Economist

Ana Rubio works since 2005 for BBVA Research, currently as Head Economist of the Regulation Unit. In BBVA she was Head Economist of Financial Systems Unit and she has also participated in the analysis of the consumption, real estate and financial system sectors, both from a national and international perspective. Previously, she worked for Arthur Andersen Corporate Finance, and Oliver Wyman.

 

She has a BA in Economics from Complutense University and a Master in Economics and Finance from CEMFI, Bank of Spain.  


Latest Publications

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The use of cash and its determinants

By , , , , , , , ,

The digital revolution is leading to an increased use of electronic payment instruments; however, cash is still used in 79% of retail payments. This note analyses the factors driving the use of cash for payments across EU countries classified in four categories: access to cash and banking products, degree of digitalisation, macroeconomic environment and cultural factors.

Available in English

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Are bad banks good?

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The European Commission recently issued a guide for countries wishing to be able to create bad banks for the purpose of managing their banks’ impaired assets, whether loans or repossessed assets. A bad bank is a public or private sector entity that acquires these assets and has an extended period in which to liquidate them by means of recoveries or sales.

Geographies:Europe
Topics:Banks

Available in Spanish, English

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What we already know about taxes on financial transactions

By ,

Recently, the possibility of introducing a tax on financial transactions (FTT) as a way to cover part of the pension deficit has come up again in the Spanish public debate. These types of fees are applied to some types of monetary transactions, such as purchases of securities or stock market flotations.

Available in Spanish, English

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Monetary policy and bank profitability

By ,

Monetary policy took centre stage in the recent international crisis – as a weapon against stagnation and deflation, as an instrument for re-establishing financial stability and, in the case of the euro zone, as a crucial tool for combating the financial fragmentation which at one stage threatened the very survival of the euro.

Available in Spanish, English

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IFRS 9: Pro-cyclicality of provisions. Spanish banks as an illustration

By , , ,

IFRS 9 incorporates a forward looking assessment by moving from an incurred credit loss approach to an expected credit loss approach for the measurement of impairment allowances with the aim of recognising credit losses earlier in the cycle. This paper discusses the implications of this new approach for regulatory capital including its procyclicality for Spanish banks.

Available in English

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Bank and non-bank finance: natural allies

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Until now financing of Spain’s private sector has come mainly from banks, as is the norm in Europe general, and particularly in countries with a large proportion of small businesses.

Geographies:Europe
Topics:Banks

Available in Spanish, English

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Fewer banks, enough banks

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In Spain, as in the rest of Europe, the number of banks has fallen significantly during the crisis. In general terms, banks have merged to improve their profitability or efficiency, or when a vulnerable bank has had to be absorbed.

Geographies:Europe Spain
Topics:Banks

Available in Spanish, English

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The impact of European banking consolidation on credit prices

Document Number 17/08

By , , , ,

The crisis has made obvious the fragility of some aspects of EMU, like financial fragmentation and the need of banking consolidation. Banks have merged due to the vulnerability of some players or in order to improve the profitability/efficiency of the sector.

Geographies:Europe
Topics:Banks

Available in English

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The ECB’s liquidity: no-one will die of thirst

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Liquidity is to banks as water is to humans: essential for life. A liquidity crisis is usually symptomatic of more deep-seated problems, and in many cases leads eventually to bankruptcy.

Geographies:Europe

Available in Spanish, English

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Impact of capital regulation on SMEs credit

Document Number 17/01

By , , ,

The Supporting Factor was introduced in Basel III with the aim of avoiding a reduction in the flow of new credit to SMEs, and the CRR revision published in November 2016 even proposes enlarging its scope to exposures above €1.5bn (but with a lower parameter).

Available in English

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Greek banks: one year on from the bailout

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The advent of a new government determined to renegotiate the terms of the international bailout, the uncertainty surrounding the possibility of Greece’s leaving the euro zone, a badly impaired economy and a massive run on deposits culminated with the imposition of capital controls, a third bailout programme and the recapitalisation of its banks.

Geographies:Europe
Topics:Banks

Available in Spanish, English

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Banking is changing

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A working paper by the Foundation for Financial Studies titled "The change in the business model of banking" was published recently. It includes the opinions expressed during a debate by experts in the sector who agreed on the substance: various trends are forcing banking to change and only those banks that understand this reality will be able to adapt to the new era.

Available in Spanish, English

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Bank stress tests: apples and oranges

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The results of the European bank stress tests published a few days ago were passed by almost all of the banks considering that only one Italian bank and one Irish bank would have shown a capital shortfall compared to last year’s minimum capital threshold.

Geographies:Europe
Topics:Banks

Available in Spanish, English

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What is novel in the new stress tests?

By ,

As recently done by the authorities in the United States and in the United Kingdom, the European Banking Authority (EBA) has launched this year a new stress test for European banks.

Units:
Geographies:Europe
Topics:Banks

Available in Spanish

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The Italian bank snowball

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Eight years after the start of the international financial crisis, the market has suddenly realised that the Italian banks still have tasks outstanding. Why have the markets focused on this problem now? What are the outstanding tasks? And, above all, what should we expect in future?

Geographies:Europe
Topics:Banks

Available in Spanish