María Rocamora
María Rocamora

María Rocamora has been working for BBVA Research’s Financial Systems Unit since 2017.

Between 2016 and 2017 she worked for BBVA’s Accounting & Supervisors Department as an International Financial Reporting and Banking Standards (IFRS) Analyst, where she was involved in IFRS implementation, impact evaluation and post-implementation regulatory analysis tasks, among other things.

Previously, María worked for PricewaterhouseCoopers on projects for Spanish credit entities and public institutions from the banking sector. She studied Business Management and Law at the Universidad Complutense de Madrid, where she won best student awards, and did an internship at the Bank of Spain and with the Department of Applied Economy II of the Universidad Complutense. She also has a Master's Degree in Auditing and Accounting from the Universidad Complutense’s School of Financial Studies (CUNEF).

Latest publications

European banks hold sovereign debt on their balance sheet for multiple reasons. Firstly, sovereigns are eligible in order to comply with liquidity requirements. In addition, they can be used as collateral in the private repurchase markets ("repo") and to obtain funds from the central bank.
Who will pay for the next banking crisis in Europe, and how? One of the lessons learnt from the last global financial crisis is that there must be an end to public bail-outs of banks. To achieve this, it is necessary to define which creditors and which liabilities absorb losses in the event of an institution’s resolution.
The estimated MREL deficit for European banks based on three subordination scenarios would be 195 billion euros under the recommendation of the EBA, 301 billion euros according to the compromise text of the Council and 526 billion under a full subordination scenario. Therefore, the subordination requirement will be crucial in the future MREL requirement of European banks.