Category Archives: Uncategorized

Arbitrage in SME lending

One of the big concerns of the aftermath of the Covid-19 crisis is that the recovery might take much longer because many firms, particularly small and medium (SMEs), will have closed down for good. From the very beginning, different actions … Continue reading

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Limiting borrowers leverage

In the last post I talked about the countercyclical capital buffer (CCyB), a new regulatory tool to increase banks’ capital requirements that most countries have not used but that could have been effective to mitigate the Covid-19 crisis. As I … Continue reading

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Countercyclical capital buffers and regulatory discretion

One of the main regulations that banks have to comply with are capital requirements; in particular, banks need to hold a minimum amount of capital depending on the composition of their investments (assets). Actually, the use of the word “hold”, … Continue reading

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Moralities of everyday life

What is morality? Why do we feel disgust towards certain actions? Does everyone have a different morality? Should we be moral? How should we determine what is the moral thing to do? These and other questions are discussed in the … Continue reading

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Keeping at It, by Paul A. Volcker

Paul Volcker, who died this last December at the age of 92, is some sort of almost demi-god among people interested in central banking, monetary policy, and banking regulation; in other words, people like me. I was hence extremely interested … Continue reading

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My books: A tour

I am running out of activities to do with my (almost) three-year-old daughter, so I decided to sort my books by topic and alphabetical order. It looks so nice that I decided to record a brief tour around them. Here … Continue reading

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The Fifth Risk, by Michael Lewis

When I was at the Bank of England, I remember discussing with someone over a coffee about the need to screen new candidates for a willingness to work as public servants. The idea—as argued by my counterpart—was that people who … Continue reading

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