Suchergebnisse

Recognition — Of Governments — Nature of — Declaratory Effect.202Jurisdiction — Exemption from — Foreign Public Corporation Exercising Public Functions — Recognition — Of Governments — Nature of.

We document the twin crisis that affected Spain in the mid-1860s. First, we trace back its origins to the international crisis of 1864-66. Next, we describe the particular banking sector of Spain, characterized by the coexistence of the Bank of Spain with multiple local banks of issue. We analyze the microeconomic behavior of each bank in response to the crisis and find that, overall, the banks of issue performed well during the crisis. The Bank of Spain resulted as the most destabilizing institute due to its involvement with a Government on the brink of default.

Liquidity is very important for the functioning of financial markets, especially for the banking sector, because one of the critical aspects in the banking business is precisely the process of transforming short-term funds and placing them in the medium and long term. This paper aims to comprehensively assess the liquidity positions of Portuguese and Spanish commercial banks through different liquidity ratios for the period from 2002 to 2015 and understand whether the liquidity management strategy differs by bank size. To this end, unconsolidated balance sheet data were used, which were obtained from the banks annual reports. The sample includes a significant part of the Portuguese and Spanish banking sector (not only by the number of banks, but also by the representation in banks total assets). The results obtained show that Spain's banks' liquidity indicator has decreased over the last four years. In contrast, bank liquidity indicator in Portugal varied slightly positively during the period 2002-2006 but decreased sharply between 2010 to 2015. Bank liquidity increased slightly during the period of the financial crisis in both countries, namely between from 2007 to 2009. Finally, it is concluded that smaller banks have less fluctuating liquidity management, i.e., large and medium-sized banks show greater variation in bank liquidity in the period under analysis, i.e., they are less liquid.

The aim of this paper is to analyse the investment activity of the Banco de Crédito Local de España in the Spanish local institutions, including municipalities, and commonwealths, and regional governments. The period studied ranges from its founding in 1925 until 1950. This analysis helps to determine the main activities in which the Bank focused its financial activity: works for drinking water supply and sanitation, development of roads, building schools, abattoirs, markets and barracks, etc. A description is also presented of the changes that occurred in the volume of loans in the various political scenarios during those years. Finally, cities and regions that focused more attention of the Bank are detailed. It also presents a glimpse of the close relationship between political power and economic elites, and explains the nature of the bank as an economic engine of the first order. ; Este trabajo analiza la actividad inversora del Banco de Crédito Local de España en las instituciones locales españolas, tanto en Ayuntamientos como en Mancomunidades y Diputaciones. El período estudiado comprende desde su fundación en 1925 hasta 1936. Este análisis permite conocer las principales actividades en las que centró su actividad financiera: obras para el abastecimiento de agua potable y saneamiento, desarrollo de la red viaria, construcción de escuelas, mataderos, mercados y cuarteles, etc. Asimismo, se describe la evolución que experimentó el volumen de créditos concedidos en los diversos escenarios políticos de esos años. Por último, se detallan las ciudades y regiones que centraron más atención del banco. Asimismo, permite vislumbrar la estrecha relación entre el poder político y las élites económicas y explicar el carácter de la banca como motor económico de primer orden.

Artículo de revista ; According to the Bank Lending Survey, during 2020 Q4, both in Spain and in the euro area there was a slight contraction in the credit supply, linked to banks' higher risk perceptions, against a background of a worsening economic outlook, which was also reflected in lower demand for loans. These trends were recorded in most of the segments analysed. In a similar vein, according to the banks responding, the NPL ratio contributed in both areas to a slight tightening of credit standards in loans to firms and consumer credit and other lending to households. In 2020 H1, credit standards and the terms and conditions on loans with government guarantees eased considerably in both areas, while a contraction was observed in the supply of loans without guarantees in the same period. Furthermore, applications for loans with guarantees rose robustly between January and June, both in Spain and in the euro area, owing to firms' higher liquidity needs in those months and the need to build up precautionary liquidity buffers, while the demand for loans without guarantees dropped significantly.

The economy of the Valencia region (Comunidad Valenciana) in Spain has suffered the consequences of Spanish and Valencian corruption in its banking and government policies. The scandalous/outrageous and dangerous 26% unemployment rate nationwide has reached almost 30% in the Valencia region. From a regional perspective, there have been historical tensions between centre and periphery, seen with the Franco regime (1939¿1975) that reaffirmed the pre-eminence of private commercial banks and handicapped traditional savings banks, implementing a practice from the 1920s called the principle of territoriality. Until 1974 the savings banks or 'cajas' remained outside the Spanish clearinghouse system until Fuentes Quintana¿s Reform (1977) that brought a competitive environment for savings and private banks, resulting in their convergence. Savings banks raised their share of total national deposits from 35 to 45 percent and after 2009 large conglomerates were created, but in the Valencia region this did not take place until 2011 when 'cajas' transferred their banking business to commercial banks. Banco Valencia, the sixth largest commercial bank in Spain, founded in 1900 and the largest regional savings bank from each of the three Valencian Community provinces (Castellón, Valencia and Alicante) vanished completely at the beginning of the 21st century. Now, all large-scale credit operations are no longer decided in the region, but rather in Madrid, Barcelona or elsewhere, leaving out regional developers from decisions that are now handled by larger national conglomerates. At the time of writing of this paper is being, many events and answers to these questions still lie with the court room; meanwhile, there is no regional financial entity of critical mass left in the Valencian Community. At the end of the paper we analyse the effects of the financial-system crisis on small and medium enterprises (SME or PYMES) in the Valencian Community from 1995-2012.