Over the last twenty years, the Spanish banking industry has been deeply reshaped in several respects. One of the features that has allowed for it has been the geographic expansion of most savings banks, which could not enter other markets different from their natural market before 1989. Since...

This note considers the role debt-equity conversions and NPL securitization can play in addressing excessive corporate debt in China, and the corresponding burden on banks of impaired assets. It finds that such techniques can play a role, but getting their design right is critical, as is nesting...