Pablo Hernández de Cos: The new bank provisioning standards - implementation challenges and financial stability implications

Welcome address by Mr Pablo Hernández de Cos, Governor of the Bank of Spain, at the Conference "The New Bank Provisioning Standards: Implementation Challenges and Financial Stability Implications", hosted by the Bank of Spain and co-organised with the Financial Stability Institute and the CEMFI, Madrid, 18 October 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Good morning to everyone. It is my pleasure to welcome you all to the conference: “The new bank provisioning standards: implementation challenges and financial stability implications", hosted by the Banco de España and co-organised with the BIS Financial Stability Institute and CEMFI.

Let me first thank these two institutions for their participation and active involvement in the conference. The invaluable work and expertise of the FSI and the ever-necessary academic rigour provided by CEMFI combine perfectly with the Banco de España’s long-dated experience in banking supervision and create the sufficient conditions for this event to be a fruitful one. These three elements should be the ideal ingredients to ensure a promising and, hopefully, successful conference.