José María Serena Garralda

All BIS publications (19)

BIS Working Paper No 1360 12 Jun 2026

Credit supply in the wake of distressed bank acquisitions

This paper examines the credit supply effects of sale-of-business (SoB) bank resolutions under the post-Global Financial Crisis…

Ryan Niladri Banerjee

,

Francisco González

,

José E Gutierrez

and

José María Serena Garralda

BIS Working Paper No 1326 26 Jan 2026

Monetary policy and private equity acquisitions: tracing the links

Private equity funds play an increasingly important role in financial systems. Yet, the impact of monetary policy on their…

Fernando Avalos

,

and

José María Serena Garralda

BIS Working Paper No 979 22 Nov 2021

Dampening the financial accelerator? Direct lenders and monetary policy

In this paper we investigate the role they play in the monetary policy transmission mechanism, using syndicated loan data…

Ryan Niladri Banerjee

and

José María Serena Garralda

BIS Working Paper No 961 17 Aug 2021

Private equity buyouts and firm exports: evidence from UK firms

This paper examines the impact of private equity buyouts on the export activity of target firms. We exploit data on UK firms…

,

José María Serena Garralda

,

Marina-Eliza Spaliara

and

Serafeim Tsoukas

BIS Working Paper No 930 4 Mar 2021

Big data and machine learning in central banking

This paper reviews the use of big data and machine learning in central banking, leveraging on a recent survey conducted among…

Sebastian Doerr

,

Leonardo Gambacorta

and

José María Serena Garralda

IFC Report No 13 18 Feb 2021

Use of big data sources and applications at central banks

This report presents the results of a 2020 IFC survey on central banks’ use of and interest in big data, updating a previous…

José María Serena Garralda

,

,

Sebastian Doerr

and

Leonardo Gambacorta

BIS Working Paper No 912 18 Dec 2020

Regulatory capital, market capital and risk taking in international bank lending

We investigate the links among US monetary policy, bank capital, and risk taking in international bank lending.

and

José María Serena Garralda

BIS Bulletin No 29 14 Aug 2020

Bonds and syndicated loans during the Covid-19 crisis: decoupled again?

Borrowing by non-financial firms in global debt markets surged following the Covid-19 shock. Bond issuance boomed, while…

and

José María Serena Garralda

IFC Report No 12 24 Jul 2020

Towards monitoring financial innovation in central bank statistics

This report summarises the main conclusions, and sets out some key steps towards the development of fintech statistics.

Robert Kirchner

,

Stephan Müller

,

Ulf von Kalckreuth

,

,

José María Serena Garralda

and

All external publications (7)

External publication 1 Sep 2025

Banks' market capital and the international risk taking channel of US monetary policy

and

José María Serena Garralda

External publication 1 Nov 2024

Dampening the financial accelerator? Direct lenders and monetary policy

Ryan Niladri Banerjee

and

José María Serena Garralda

External publication 1 Jun 2021

Dollar borrowing, firm credit risk, and FX-hedged funding opportunities

Leonardo Gambacorta

,

José María Serena Garralda

,

Sergio Mayordomo

and

External publication 1 Sep 2019

What drives bank-intermediated trade finance? Evidence from cross-country analysis

José María Serena Garralda

and

Garima Vasishtha

External publication 1 Feb 2016

International reserves and gross capital flow dynamics

Enrique Alberola-Ila

,

and

José María Serena Garralda

External publication 1 Feb 2012

International reserves and gross capital flows. Dynamics during financial stress

Enrique Alberola-Ila

,

and

José María Serena Garralda

External publication 1 Dec 2008

Reserves, sovereign wealth funds and the resilience of global imbalances

Enrique Alberola-Ila

and

José María Serena Garralda

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