Bank of Spain sees rise in deposit rates imminent

the rise children bank deposits that were “on the horizon” until a few months ago. not so close“, This The nearest after that financial turmoil the last few weeks, although a date has not been determined yet. This was pointed out by this Tuesday audit manager Bank of SpainMercedes OlanoWhile presenting the 2022 memory of the episode: “When tension and uncertaintyWe try everyone, not just banks keep savings. Even if banks have very liquiditythey’ll want to keep it too.”

The senior official therefore pointed out that his body could not see. “no outstanding output” Despite the recent financial storm of the deposit, it is rather a “totally normal”. So they decrease recently, but organizations customers money into mutual funds in fixed income and because inflation “attacking” rents households and get them immersed in their savings. Even with high demands for withdrawals of resources, “organizations have a lot of liquidity. endure this style attacks“.

Olano added that the liquidity of Spanish banks will decrease in the coming months. about 100,000 million returns Euros from the European Central Bank’s emergency hotlines for the pandemic (TLTRO)European Central Bank) and the impact of the rate hike on household income and savings. The organizations it assures will continue to have lots of liquidity nonetheless (“We are relatively calm”), although it is predictable that they will also begin to calm down. raise the deposit rate in this context, especially if there are new periods of tension in the markets.

markets are mixed

As officials and bankers do, Olano capital and liquidity strength Spanish bank “Dir-dir very difficult this is a spanish bank Silicon Valley Bank (SVC) case repeated, not to mention impossible“, previously argued that the country sector’s exposure to Credit Suisse was limited to just two. 300 and 400 million euros. “If markets continue to stir something else but in different markets those we control”, “one of the Spanish banks business model which is boring in a way, but which it’s considered boring Right now”.

Despite all this, the banksextreme common sense that they can adequately manage the risks they face” and that “they should benefit from good results” strengthen your stamina through the scope of risk and the capitalization of benefits”. Olano therefore, results organizations “already Significant developmentBut he said there could be a “predictable” increase in inflation in 2023. Despite this, he added that the net impact of rate increases on organizations’ accounts continues to be evaluated “for now”. it will be positive.

Source: Informacion


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