{"article":{"annotation":{"article_id":"ecb-paper-regulation-euro-money-markets-repo-october-2026","available_at":"2026-10-21T19:52:06.668661Z","geography_revision":"ef6ee0010dda5fe7b240fd514749b43e214c57da73222d2e40ec83b276dd0977","id":"971db99a08c5db051ec3b9b606cbce412342328ab5858ccf4842d4e3d12beaa6","input_sha256":"d595ed05b536b495f94d0099105613640e9e5fbdcd3f8eb8a2a1fb609c1d22ae","limitations":["Rule-derived subjects are candidates, not verified editorial labels or calibrated model probabilities.","Coverage is distinct from event location. 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Sus estimaciones estilizadas sitúan el coste regulatorio de los préstamos interbancarios sin garantía en la segunda mitad de 2025 en unos 35 puntos básicos para los prestamistas y 15 para los prestatarios. En las operaciones garantizadas, como los repos respaldados por colateral de alta calidad, el coste suele ser inferior a 10 puntos básicos.","Los autores señalan que estas diferencias incentivan el uso de repos frente a la intermediación sin garantía y que estos mercados probablemente seguirán siendo un canal importante para redistribuir reservas a medida que disminuyan. Aclaran que los cálculos son estimaciones estilizadas, no mediciones específicas de cada banco. El documento también indica que las opiniones pertenecen a los autores y no representan necesariamente las del BCE."],"sections":[]},"corrections":[],"country":null,"data":{"blocks":[{"description":{"ar":"مدخل زمني لإعلان المصدر أو نشره.","de":"Zeitleisteneintrag zur Quellenmeldung oder Veröffentlichung.","en":"Timeline entry for the source announcement or publication.","es":"Registro cronológico del anuncio o publicación fuente.","fr":"Repère chronologique de l’annonce ou publication source.","pt":"Registro cronológico do anúncio ou publicação fonte.","tr":"Kaynak duyurusu veya yayını için zaman çizelgesi kaydı."},"id":"source-event","items":[{"date":"2026-10-19","description":{"ar":"تعرض الورقة تقديرات نموذجية للتكاليف التنظيمية في أسواق المال القصيرة الأجل بمنطقة اليورو.","de":"Das Papier enthält stilisierte Schätzungen regulatorischer Kosten an kurzfristigen Geldmärkten im Euroraum.","en":"The paper presents stylised estimates of regulatory costs in euro-area short-term money 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المستشهد به، ولم تُحسب قيم إضافية.","de":"Datum und Beschreibung stammen aus der zitierten Primärquelle; zusätzliche Werte wurden nicht berechnet.","en":"Date and description transcribed from the cited primary source; no additional values calculated.","es":"Fecha y descripción tomadas de la fuente primaria citada; no se calcularon valores adicionales.","fr":"Date et description reprises de la source primaire citée; aucune valeur supplémentaire n’a été calculée.","pt":"Data e descrição transcritas da fonte primária citada; nenhum valor adicional foi calculado.","tr":"Tarih ve açıklama, atıf yapılan birincil kaynaktan aktarılmıştır; ek değer hesaplanmamıştır."},"sourceUrls":["https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op401.en.pdf"],"title":{"ar":"الحدث الوارد في المصدر","de":"Quellenereignis","en":"Source event","es":"Hecho de la fuente","fr":"Événement source","pt":"Evento da fonte","tr":"Kaynak olayı"},"type":"events","updatedAt":"2026-10-21T19:35:01Z"}],"version":1},"data_downloads":[{"formats":{"csv":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026/data/source-event?lang=es&format=csv","json":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026/data/source-event?lang=es&format=json"},"id":"source-event"}],"data_types":["events"],"editorial_illustration":{"alt":"Ilustración conceptual de capas de datos financieros y flujos de 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Central Bank","publishedAt":"2026-10-19","url":"https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op401.en.pdf"}],"summary":"Un documento ocasional del BCE estima costes regulatorios notablemente superiores para los préstamos interbancarios sin garantía que para las operaciones repo respaldadas por activos de alta calidad, una diferencia que puede influir en el reparto de reservas.","text":"Un documento ocasional del BCE estima costes regulatorios notablemente superiores para los préstamos interbancarios sin garantía que para las operaciones repo respaldadas por activos de alta calidad, una diferencia que puede influir en el reparto de reservas.\n\nUn documento de la serie Occasional Papers del BCE, firmado por Emmanuel Faïk y Olivier Vergote, analiza cómo los requisitos de capital, liquidez y apalancamiento de Basilea III afectan a las operaciones interbancarias a corto plazo en la zona del euro. 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El documento también indica que las opiniones pertenecen a los autores y no representan necesariamente las del BCE.","title":"Un estudio del BCE estima que la regulación favorece la financiación garantizada","topics":[],"translations":[{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=tr","language":"tr","url":"https://newsverum.com/tr/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=en","language":"en","url":"https://newsverum.com/en/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=ar","language":"ar","url":"https://newsverum.com/ar/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=fr","language":"fr","url":"https://newsverum.com/fr/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=es","language":"es","url":"https://newsverum.com/es/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=de","language":"de","url":"https://newsverum.com/de/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},{"api_url":"https://newsverum.com/api/v1/articles/ecb-paper-regulation-euro-money-markets-repo-october-2026?lang=pt","language":"pt","url":"https://newsverum.com/pt/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"}],"url":"https://newsverum.com/es/news/ecb-paper-regulation-euro-money-markets-repo-october-2026"},"version":"1"}