登入
選單
返回
Google圖書搜尋
The Countercyclical Capital Buffer in Spain
Christian E. Castro
其他書名
An Analysis of Key Guiding Indicators
出版
SSRN
, 2016
URL
http://books.google.com.hk/books?id=8p0BzwEACAAJ&hl=&source=gbs_api
註釋
This paper analyses a group of quantitative indicators to guide the Basel III countercyclical capital buffer (CCB) in Spain. Using data covering three stress events in the Spanish banking system since the early 1960s, we describe a number of conceptual and practical issues that may arise with the Basel benchmark buffer guide (i.e. the credit-to-GDP gap) and study alternative specifications plus a number of complementary indicators. In this connection, we explore ways to deal with structural changes that may lead to some shortcomings in the indicators. Overall, we find that indicators of credit 'intensity' (where we propose the ratio of changes in credit to GDP), private sector debt sustainability, real estate prices and external imbalances can usefully complement the credit-to-GDP gap when taking CCB decisions in Spain.