Publication date
From
To
x

Your space


Forgot your password?
x

Login to participate



Not registered yet? Register now
x
Make your search by entering the text:
Make your search for other criteria:
Catalog Icon

International Comparative of resolution frameworks

By ,

Overview of different resolution frameworks: comparison between Europe, US, Latam and Japan.

Available in English

Catalog Icon

Reflection paper on the future of the Eurozone

By ,

The European Commission has published a reflection paper on the future of the euro area, the proposals in two steps (up to 2019 and to 2025) on key issues such as banking and capital markets union, centralization of supervision in markets and insurances, safe bonds, regulation of sovereign debt on bank balances, fiscal stabilization and a European Treasury.

Available in English

Catalog Icon

Flows & Assets Report: Flows to EM will continue to grow but at a lower pace. 3Q2016

By , , ,

Strong recovery of capital inflows to EM in 3Q for the second quarter in a row driven by the “search of yield” in global portfolios (reallocation process). Although monetary conditions will remain supportive, we expect a slowdown of inflows in next quarters as financial volatility is expected to rebound somewhat from very low levels

Available in English

Catalog Icon

Rising Libor is due to repricing and not distress

By ,

Libor rate rise pushed by regulation driven structural changes in the U.S. money market. The spill-over effects in other regions have not been huge. However, hereinafter, international markets have to get used to more expensive financing in USD, which poses an additional risk for bank´s profitability in the current context of ultra-low interest rates

Available in Spanish, English

Catalog Icon

ECB kept monetary policy stance unchanged

By , ,

The ECB kept rates unchanged and reaffirmed the plan to run the APP to March 2017 or beyond if needed. The GC did not discuss any measures (including an extension of the APP). The GC tasked the relevant committees to evaluate the options that ensure a smooth implementation of its purchase programme. The Staff barely changed its projections over the forecast horizon

Available in Spanish, English

Catalog Icon

Further action likely in September

By ,

The ECB has left the monetary policy stance unchanged. The ECB needs more time to reassess the degree of policy accommodation. Unrelated to monetary policy, Draghi opens the possibility of a “public backstop” for NPL’s.

Available in Spanish, English

Catalog Icon

The economic consequences of Brexit

By

The UK has decided to exit the European Union in a referendum with a 52%-48% margin, and a participation rate of 72%. Prime Minister (PM) Cameron has resigned and will remain in charge until October, when the Conservative Party will choose its next leader. This note and the attached presentation look at the economic consequences of Brexit.

Available in English

Catalog Icon

Wait-and-see stance

By , ,

As expected, at today’s monetary policy meeting there were no changes in the ECB´s monetary policy stance, as the central bank left the key policy rate unchanged at 0.0% and the deposit rate at -0.4%. The ECB’s Staff macroeconomic projections barely changed over the forecast horizon. The focus is on the implementation of the measures announced in March

Available in Spanish, English

Catalog Icon

Flows & Assets Report: Flow reallocation back to EM. Second Quarter 2016

By , , , , ,

Global risk aversion receded in Q1 2016 in a context of still volatile markets. The return of risk appetite was attributable to stabilization signs in China, the rebound in oil prices and the continued support of Developed Markets' central banks.

Available in English

Catalog Icon

ECB Minutes: 21 April meeting

By ,

The minutes confirmed that the GC was unanimous in its commitment to deliver on its mandate. The GC agreed that there was no need to consider any change in its current monetary policy stance. The ECB strongly reiterated the need for other policy areas to contribute to euro area economic recovery

Available in Spanish, English

Catalog Icon

ECB keeps stance unchanged

By , ,

Rates were kept unchanged and the tone remained dovish. No hints of any policy change in the near term. The ECB unveiled further details of the CSPP.

Available in Spanish, English

Catalog Icon

ECB Minutes | 10 March meeting

By ,

A large majority of voting members supported the proposed policy package, but support for the various components of the package was varied. The ECB discussed introducing a negative-rate exemption, but finally this was rejected as "too complex." The minutes revealed that members do not rule out the possibility of further cuts if warranted by the outlook for price stability

Available in Spanish, English

Catalog Icon

Global prominence of China’s financial markets

By ,

In recent months, financial turmoil in China has significantly hurt global financial markets. Yet the channel has been commercial rather than purely financial: turmoil in China has “signaled” risks to China’s economic outlook rather than “caused” global financial imbalances. That said, actual financial linkages are set to grow as China´s markets are liberalized.

Available in English

Catalog Icon

Further easing measures favor unconventional measures over rate cuts

By , , , , ,

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.

Available in Spanish, English

Catalog Icon

Flows & Assets Report: The Big Emerging Markets Short. First Quarter 2016

By , , , , ,

Global growth concerns led by China’s policy shifts and inability to sooth investor concerns heightened risk off-mood particularly by yearend. Unlike previous episodes, the trigger was not in the Fed policy but China, EM vulnerabilities and potential impact of EM & DM.

Available in English

Spanish banks data
Geostrategy
Digital economy
Financial regulation
Market Comment
Mexico publications
Spain publications
USA publications
Europe publications
Anuari 2016
Working Papers
Multimedia
Catalog Icon
Press Articles