Francisco Covas – Medium

Francisco Covas

Francisco Covas
in
Bank Policy Institute

Are Loans to Carbon Intensive Firms the New Subprime?

Coauthored by Lauren Anderson and Francisco Covas

Jan 20, 2022

oil rig and energy production

Jan 20, 2022

Francisco Covas
in
Bank Policy Institute

CECL and Capital Relief: A Choice Between Doing the Right Thing for the Right Reason or the Wrong…

When the pandemic hit in March 2020, everyone witnessed the procyclicality of the new current expected credit loss (CECL) accounting…

Jul 20, 2021

Effect of CECL Adjustment on Capital Ratios of the Largest Four Banks

Jul 20, 2021

Francisco Covas
in
Bank Policy Institute

On Dividend Bans, Banks’ Cost of Equity, and Lending

Last week, the European Central Bank (ECB) published a note analyzing how temporary capital distribution restrictions announced in March…

Jul 12, 2021

On Dividend Bans, Banks’ Cost of Equity, and Lending

Jul 12, 2021

Francisco Covas
in
Bank Policy Institute

Take-up at the Federal Reserve’s ON RRP Facility: Much Larger and More Persistent than Planned…

The Federal Reserve introduced the overnight reverse repurchase agreement facility (ON RRP) in 2014 to improve its control of the federal…

Jun 8, 2021

Take-up at the Federal Reserve’s ON RRP Facility: Much Larger and More Persistent than Planned…

Jun 8, 2021

Francisco Covas
in
Bank Policy Institute

Reserve Balances, Noninterest Expenses, and Bank Performance in the Stress Tests

The performance of banks in the supervisory stress tests depends importantly on the projections of noninterest expense over the…

Apr 1, 2021

Reserve Balances, Noninterest Expenses, and Bank Performance in the Stress Tests

Apr 1, 2021

Francisco Covas
in
Bank Policy Institute

A Selected Compilation of U.S. Banks’ Accomplishments in 2020

Throughout the COVID-19 crisis of 2020, banks provided credit and liquidity to businesses across the U.S., supporting small businesses…

Jan 14, 2021

A Selected Compilation of U.S. Banks’ Accomplishments in 2020

Jan 14, 2021

Francisco Covas
in
Bank Policy Institute

GSIB Method 2 Fixed Coefficients Must Be Adjusted for Economic Growth

Coauthored by Francisco Covas and Brett Waxman

Dec 4, 2020

GSIB Method 2 Fixed Coefficients Must Be Adjusted for Economic Growth

Dec 4, 2020

Francisco Covas
in
Bank Policy Institute

The Federal Reserve’s Capital Buffer Framework Effectively Constrains Bank Dividends in Stress

The Federal Reserve Bank of New York (FRBNY) recently published a blog post analyzing the effect of dividend suspensions on bank capital…

Oct 26, 2020

The Federal Reserve’s Capital Buffer Framework Effectively Constrains Bank Dividends in Stress

Oct 26, 2020

Francisco Covas
in
Bank Policy Institute

Challenges in Stress Testing and Climate Change

In this research note, we present an overview of important methodological challenges associated with climate change stress testing for…

Oct 19, 2020

Challenges in Stress Testing and Climate Change

Oct 19, 2020

Francisco Covas
in
Bank Policy Institute

Why Do Banks Need a Credit Sensitive Lending Benchmark?

A wide range of financial contracts, ranging from floating-rate commercial loans to financial derivatives, are indexed to the London…

Sep 23, 2020

Why Do Banks Need a Credit Sensitive Lending Benchmark?

Sep 23, 2020

Francisco Covas

Francisco Covas

Francisco Covas is a senior vice president and head of research for the Bank Policy Institute. https://bpi.com/person/francisco-covas

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