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Finance

Finance

Bonds vs loans

In a context marked by financial market volatility, the advantages of diversifying the sources of funding are evident for businesses, regardless of their size. In long-term financing, the two more broadly used funding instruments are loans (syndicated or bilateral) and bonds, placed among institutional investors. Both instruments can be more or less tailored to fit a series of parameter, including the company’s needs, mainly maturity and price, its credit profile, repayment capacity, the market’s momentum, etc…

Picture of Martin Ravallion, BBVA Foundation Frontiers of Knowledge Award

If a person’s tweets reflect their interests, there can be little doubt as to what makes Martin Ravallion tick. His account directs followers to articles on the exodus of Syria’s refugees; the importance of the world’s poorest having access to information; campaigns to tackle child malnutrition. Ravallion, an economist, is aware that his vision of economic science “is not shared by the majority.” And he quotes historian Max Hartwell: “Economics is, in essence, the study of poverty.”

Royal Academy for Moral and Political Sciences’ main entrance

José Manuel González-Páramo read his admission speech at the Royal Academy for Moral and Political Sciences. The new member devoted his speech to the reinvention of banks, driven by five vectors of change that start with the letter R: Recession, Return, Regulation, Reputation, and above all, the digital Revolution. He also discussed the different scenarios for the future.

BBVA’s Executive Board Director and Chief Officer of Global Economics, Regulation & Public Affairs, José Manuel González-Páramo, sent a message to European leaders today in Santander. “What we have learned from the crisis is that political and private leaders should set their sights high and be ambitious when facing challenges and making decisions,” he maintained at the Menéndez Pelayo International University/Spanish Association of Financial Reports (UIMP/APIE) course while analyzing the challenges facing Europe, Spain and the financial sector.