Lead Economist
Olga Gouveia is Principal Economist in the Financial Systems Unit in BBVA Research with focus on the analysis of European Financial Systems.
Previously, Olga Gouveia worked in Moody's as Vice-President Senior Analyst at FIG, with leading analytical responsabilities for the ratings of Spanish and Portuguese banks.
Prior to that she worked as an Analyst and Associate in BPI Private Equity in Oporto.
She obtained a Degree in Economics from the University of Oporto, in Portugal in 1998 and an International MBA from IE Business School in 2003.
Latest Publications
What we already know about taxes on financial transactions
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.
International experiences of De-dollarization: What could be done in the Turkish case?
Financial dollarization exposes countries to shocks which can trigger severe financial and economic problems. This note describes a few successful country experiences of de-dollarization. A key lesson is that macroeconomic stability and particularly price stability and low inflation is a pre-condition for starting a successful de-dollarization process.
Available in English
Exposure of international banks to Latin America
In the context of a reduction in global cross-border funds, this report explores the recent evolution of international banks’ exposures to Latin America using BIS statistics. Latin America is one of the few regions in the world where the exposure of international banks continued to increase as result of the strong presence of international banks with local operations.
Available in Spanish
Central Bank Digital Currencies: assessing implementation possibilities and impacts
Document Number 17/04
Following advances in the distributed ledger technology, central banks are assessing the issuance of digital currency. There's a range of possible schemes to adopt depending on which features of cash to hold: universality, anonymity and non-yield bearing. We analyze opportunities and challenges of 4 key schemes, that support a strategy of gradual testing and implementation
Banking globalisation: How is regulation impacting on global banks?
Most global banks, with certain exceptions, are retrenching from some geographical regions and/or business lines. Factors such as changes in strategy, business models, profitability, efficient allocation of scarce resources, political and social instability or new technologies explain this process. But in our view there is one determining factor: regulation.
Regulatory impact on global banks
The footprint of foreign banks internationally, which had grown considerably until the financial crisis, grounded to a halt and even declined slightly after 2008. Cross-border loans have also dropped off globally. What’s behind the recent pullback by global banks? Why is there such a big difference between regions? Are there differences between types of banks too?
Further easing measures favor unconventional measures over rate cuts
The ECB cut rates to record lows, increased the size -and widened the scope - of its APP and introduced a new round of (attractive) TLTROs. The Staff revised its inflation projections significantly downwards, as expected. The ECB remains vigilant and ready to act if necessary, favoring further “unconventional measures” over (not-excluded) additional rate cuts.
Digital Economy Outlook. February 2016
In this issue we focus on: RegTech, the new magic word in FinTech; Focus on innovation in Australian banks’ DNA; Remote opening of financial products in Latin America; Big Data management and use in the financial services industry; and Financial services trends for 2016
Spain | Deposits increase by €10bn in the fourth quarter
The latest figures published by the Bank of Spain show an increase of the deposits of Spanish households and non-financial corporations in the last quarter of 2015. In the twelve months of 2015 deposits were flat despite monthly fluctuactions. The interest rate of deposits continues in a downward trend.
Available in Spanish
Spain | Deposits fall €6bn in the quarter but increase when they are seasonally adjusted
The latest figures published by the Bank of Spain show a decrease of the deposits of Spanish households and non-financial corporations in the third quarter of 2015. However, seasonally adjusted these deposits increase in €5bn. The interest rate of deposits continues in a downward trend.
Available in Spanish
Spain | Household and corporate deposits fell in August, in line with forecasts
The latest figures on deposits published by the Bank of Spain show a drop in the household and corporate components (€-2.6bn) which diminishes to €-0,6bn when seasonally adjusted.
Available in Spanish
Spain | Household and corporate deposits fell in July, in line with forecasts
The latest figures on deposits published by the Bank of Spain show a drop in the household and corporate components. In spite of this, after seasonal adjustment these have remained practically stable.
Digital Economy Outlook. July-August 2015
In this issue we focus on: E-commerce in Spain; the EU General Data Protection Regulation; Turkish banks’ digitalisation; the blockchain technology; and Electronic money.
Italian banks: still challenges ahead
In the ECB comprehensive assessment the Italian banking sector stood out as one of the weakest of the Euro Area, with 9 out of 15 banks displaying capital shortfalls.
Available in English
Spain: household and company deposits shrank slightly in February
The latest figures for deposits published by the Bank of Spain show that Spanish household and corporate deposits fell by EUR800mn in February. After seasonal adjustments, the drop is higher: -EUR1.7bn.