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The Loan to Value Ratio for Housing in Spain Over the Period 2004-2016 2004-2016年西班牙住房贷款价值比
Banco de Espana: Articles (Topic) Pub Date : 2019-02-12 DOI: 10.2139/ssrn.3333102
O. Bover, María Torrado, Ernesto Villanueva
{"title":"The Loan to Value Ratio for Housing in Spain Over the Period 2004-2016","authors":"O. Bover, María Torrado, Ernesto Villanueva","doi":"10.2139/ssrn.3333102","DOIUrl":"https://doi.org/10.2139/ssrn.3333102","url":null,"abstract":"The ratio between the amount of mortgage loans and the value of housing (the loan to value ratio) is a useful indicator for studying the financial situation of households. Two main price indicators are used to measure loan to value ratios for housing in Spain at the time of purchase: the transaction price recorded at the Property Registry and the appraisal value. Having generated a sample in which both price indicators refer to the same set of housing, the median loan to value ratio between 2004 and 2007 is found to stand between 70%, when the appraisal value is used, and 107%, when the transaction price is used. The difference between these two ratios narrowed from 2010, with the loan to value ratio using the appraisal value remaining at around 70%, while the ratio based on the transaction value fell to 80%. The Spanish Survey of Household Finances (EFF), conducted by the Banco de España, is an alternative data source, allowing a loan to value ratio to be obtained directly from households’ responses. This ratio, based on EFF data, has evolved in a similar way to the one derived from the transaction prices recorded at the Property Registry.","PeriodicalId":123033,"journal":{"name":"Banco de Espana: Articles (Topic)","volume":"107 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115546703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Spanish Banks’ Internationalisation Strategy: Characteristics and Comparison 西班牙银行国际化战略:特点与比较
Banco de Espana: Articles (Topic) Pub Date : 2019-01-10 DOI: 10.2139/ssrn.3313383
Isabel Argimón
{"title":"Spanish Banks’ Internationalisation Strategy: Characteristics and Comparison","authors":"Isabel Argimón","doi":"10.2139/ssrn.3313383","DOIUrl":"https://doi.org/10.2139/ssrn.3313383","url":null,"abstract":"Banks’ international strategy and the way in which they have expanded are explanatory factors for the economic effects of their activity. Based on information from individual institutions, the internationalisation strategies of banks based in Spain, the Netherlands and the United States have been compared. In addition, in the Spanish case, whether banks’ risk, efficiency, return and income source type differ according to the chosen model of internationalisation has been tested. The results of this comparison point to Spanish banks with subsidiaries and branches abroad having higher returns but also higher costs than banks whose foreign business is mainly cross-border.","PeriodicalId":123033,"journal":{"name":"Banco de Espana: Articles (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132817072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Private-Sector Economic Developments in the Euro Area in 2016 2016年欧元区私营部门经济发展
Banco de Espana: Articles (Topic) Pub Date : 2017-07-25 DOI: 10.2139/ssrn.3014645
Ana Del-Rio, Jose Antonio Cuenca
{"title":"Private-Sector Economic Developments in the Euro Area in 2016","authors":"Ana Del-Rio, Jose Antonio Cuenca","doi":"10.2139/ssrn.3014645","DOIUrl":"https://doi.org/10.2139/ssrn.3014645","url":null,"abstract":"This article describes the economic situation of the non-financial private sector in the euro area during 2016, on the basis of sectoral accounts. In the case of households, employment creation and low inflation provided for an increase in purchasing power which, along with the rise in wealth, was reflected in the strength of consumption, against a background in which the increase in nominal wages continue to be modest. The pace of economic recovery enabled firms to improve their profits and investment, although the investment drive was still moderate, while the sector continued to evidence a net lending capacity. The greater dynamism of lending both for households and firms was compatible with further increases in the ongoing correction of indebtedness, though such increases were uneven from one country to another. In the case of large corporations, the shift in the liabilities mix towards financing based on fixed-income securities continued, driven in 2016 by the Eurosystem’s monetary policy measures.","PeriodicalId":123033,"journal":{"name":"Banco de Espana: Articles (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115571662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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