Pablo Hernández de Cos
People: October to December 2024
A round-up of central bankers in the news and on the move
Spanish political parties fail to agree on new governor
Opposition refuses to accept government’s nomination of former ECB official Escrivá
Riksbank’s Thedéen to be next Basel Committee chair
Current chair Hernández de Cos stepping down as Bank of Spain governor in June
‘Do I die, or do I survive?’ Officials reflect on Basel III complexity
Ingves, Trichet and Villeroy de Galhau recall tough trade-offs at Basel Committee’s 50th anniversary
Banks’ AI models are flawed – Basel Committee chair
Pablo Hernández de Cos says risk of AI model misspecification is “incredibly high”
Hernández de Cos attacks ‘flimsy’ criticisms of Basel III
Committee chair says delays to implementation will divert resources from new risks
Higher bond yields makes an ECB pause more likely
Lower inflation and tighter financing conditions reinforce idea 4% rates could be enough
Will the ECB take its key rate past 4%?
French and Spanish governors say policy is working, but Nagel warns pace is too slow
Basel Committee will look at interest rate risk and liquidity reforms
Pablo Hernández de Cos says more analysis needed on minimum capital for interest rate risk
Reserve requirements and countercyclical buffers are most common macro-pru tools
Dynamic provisioning and limits on credit growth are least-used measures
Governors weigh trade-offs between inflation and financial stability
Officials stress central bank independence is key to addressing these risks
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
ECB ends liquidity relief measures for banks
Lenders have not used buffers and coverage ratios exceed minimum levels, data shows
Spanish governor favours green monetary policy
Hernández de Cos stresses ECB should account for climate risks in its price stability mandate
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target and has no need for yield curve control. Centeno believes NextGenerationEU fund could serve as template for a future…
Hernández de Cos encourages banks to use capital buffers
Basel Committee chair says it is “only a matter of time” before losses become apparent
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields