Analysis of cyclical systemic risks in spain and of their mitigation through countercyclical bank capital requirements

Abstract

This paper presents the main results of the Spanish Survey of Household Finances 2022, which reflect the financial situation of Spanish households as at end-2022. These results are of particular interest, since they allow the income, assets, debt and spending of Spanish households to be analysed in a context of particularly high uncertainty, amid the latter stages of the pandemic, supply chain problems and extraordinary energy and commodity price increases. The paper also describes the key changes in those variables since the last edition of the survey (2020).

Keywords: cyclical systemic risk, bank capital requirements, countercyclical capital buffer, GDP, credit, indicator, stress tests, growth at risk, Bayesian analysis, general equilibrium

JEL Classification: E17, E58, G10, G21, G28, G32