Articles by Francisco López

About the Author

Francisco López
Working for more than 25 years in the world of journalism and communications, Francisco has gained valuable experience at several well-known newspapers such as El Mundo and La Vanguardia. He specialized in economic and financial news before making the leap to the corporate communication sector where he has held several positions: Adviser to the Ministry of Economy, Director of the Bank of Spain’s Communication Department, in addition to his consultancy role at Analistas Financieros Internacionales, where he currently works.

The position of the ECB on TLTROs III could be less generous than expected

Central banks’ messages revive the ‘currency war’

The last meetings of the Federal Reserve and the Bank of England have fuelled sharp moves in the major currencies. The euro has extended its year highs against the dollar (it’s over 1,08 against the greenback) and on Thursday it appreciated over 1.3% against the pound (the exchange rate is at 0,86). Is near a new “currency war”?



mortgages

Mortgage Market Shift: Now More At A Fixed Rate Than A Variable Rate

The prolonged period of low interest rates in which we find ourselves has caused a complete shift in the mortgage market. Last year, coinciding with the key reference 12-month Euribor’s entry into negative territory, fixed rate mortgage loans represented over half the new loans contracted (53.3%), according to figures released by the Spanish Mortgage Association.


Spanish mortgages

How Long Will The Euribor Remain In Negative Territory?

The 12-month Euribor, which is the reference used for the majority of variable rate mortgages in Spain, has been in an uninterrupted downwards trend since 2012 and is about to complete one year in negative territory. Analysts consensus is that the Euribor has already touched bottom, and that it will begin to rise gradually from the second quarter.


BBVA y mas

Why Has Spain’s Banking Sector Rally Been Suddenly Cut Short?

The Spanish banking sector’s stock market rally has been suddenly cut short. The listed banks’ index  had risen over 45% since the minimum levels of June 2016 until the first week of January. But since then, it is seeing a correction. Two matters of concern for investors are the impact of the floor clauses ruling on the banks profit and loss account, as well as the problems of the Italian banks.


US corporate debt rose to 45% of GDP at the peak of the Great Financial Crisis

Why Have Corporate Debt Issues Soared At The Start Of 2017?

The start of a new year is normally a good time for corporate debt issues, although in the first few days of 2017 there have been a greater number of these than in previous years due to the ECB’s purchase programme.  According to Bloomberg, in the first few days of January European companies and banks have issued almost 50 billion euros of debt, double the amount issued in the same period of 2016.


Monte dei Paschi bailout

Does Monte dei Paschi bailout comply with EU regulations?

The German authorities have come out en masse to criticise the public bailout the Italian government is planning for Monte dei Paschi. For many observers, this decision implies “direct public aid” which goes against the European directive on banking solutions and restructurings.