challenges

Firm-specific risk-neutral distributions with options and CDS

The banking industry and the challenges of the pandemic

Good evening. Let me thank the Governing Board of Spain Investors Day and their President, Benito Berceruelo, for kindly inviting me to participate in the closing of the 11th edition of this annual international forum. As in previous years, it will undoubtedly contribute to enhancing Spain’s image and to promoting international investment in our country. … Read more

Firm-specific risk-neutral distributions with options and CDS

Challenges of balancing monetary policy with fiscal policy

In my opening statement, I would like to address the relationship between monetary and fiscal policy, as their successful interaction is critical for dealing with shocks, such as the economic fallout of the pandemic crisis, and what will come in its aftermath. First, the interaction between monetary and fiscal policy has made a comeback in … Read more

Firm-specific risk-neutral distributions with options and CDS

The role of financial institutions in tackling the challenges of climate change

I want to thank the Institute of International Finance for inviting me to join this discussion. Let me start by noting that these are my own views and do not necessarily reflect those of the Federal Reserve Board or the Federal Open Market Committee. Climate change is already imposing substantial economic costs and is projected … Read more