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El papel de los préstamos y del ICAS BE en el marco de colateral del Eurosistema en 2023

Author

Listed:
  • Sergio Gavilá

    (Banco de España)

  • Lola Morales

    (Banco de España)

Abstract

Motivación En los últimos años, los activos no negociables (básicamente, préstamos bancarios) han incrementado su peso en el conjunto de activos aportados como garantía en las operaciones de crédito de la política monetaria del Eurosistema. El sistema de calificación de empresas del Banco de España (ICAS BE) ha contribuido de forma relevante a dicha evolución y puede favorecer un mayor protagonismo de estos activos en el futuro. Ideas principales • A raíz de la crisis del COVID-19, se ha producido un aumento significativo del peso de los activos no negociables en las garantías aportadas por las entidades de contrapartida españolas en las operaciones de financiación del Eurosistema. Una parte significativa de dichos activos no negociables son préstamos a empresas evaluadas con el sistema interno de calificación del Banco de España, denominado «ICAS BE». • Existe un amplio margen para incrementar el volumen de préstamos pignorados con una calificación del ICAS BE, especialmente en el caso de los concedidos a pymes. • Las calificaciones crediticias de las empresas españolas asignadas por el ICAS BE se han mantenido relativamente estables en el último año, salvo en los sectores más afectados por la pandemia del COVID-19, en los que se ha producido una notable mejora.

Suggested Citation

  • Sergio Gavilá & Lola Morales, 2023. "El papel de los préstamos y del ICAS BE en el marco de colateral del Eurosistema en 2023," Boletín Económico, Banco de España, issue 2023/T2.
    • Handle: RePEc:bde:joures:y:2023:i:02:n:06
    DOI: https://doi.org/10.53479/30129
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    More about this item

    Keywords

    Política monetaria; colateral; préstamos; ICAS; empresas no financieras; calificación crediticia.;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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