In this paper we explore some lessons from the Spanish housing boom and the incipient bust from the point of view of the usefulness of the regulatory approach, with particular regard to dynamic provisions and the regulatory treatment of securitisation. First, we describe the main features of the...

The financial crisis of 2007–08 has drawn the attention of regulators and market participants to the severe consequences of pro-cyclicality in the financial system. While this had already been a concern during preparations for the introduction of Basel II, it seems that much still needs to be...

This article summarizes recent literature about advanced indicators of crisis in emerging countries, as well as problems concerning their elaboration and potential utility for the Authorities and main players in financial markets. The first part describes the main characteristics of recent...