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35 Research products, page 1 of 4

  • COVID-19
  • Publications
  • Other research products
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  • English
  • Recolector de Ciencia Abierta, RECOLECTA

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  • Open Access English
    Authors: 
    Dopazo, Joaquín;
    Country: Spain

    Sesión 3. Medicina de Precisión y Transformación Digital del Sistema Nacional de Salud. Clinical data is becoming Big Data. The future of genomic data generation. The four levels of diagnosis. SIEGA: Sistema Integrado de Epidemiología Genómica de Andalucía. Systematic drug repurposing in SARS CoV 2 with machine learning and mechanistic models. Transformación del sistema de salud. No

  • Open Access English
    Authors: 
    Sánchez-Pernaute, Olga; Romero-Bueno, Fredeswinda; Selva-O´Callaghan, Albert;
    Publisher: Elsevier
    Country: Spain

    Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active

  • Other research product . Other ORP type . 2021
    Open Access English
    Authors: 
    López Bueno, Rubén; Calatayud, Joaquín; Casaña José; Casajús, José A.; Smith, Lee; Tully, Mark A.; Andersen, Lars L.; López-Sánchez, Guillermo Felipe;
    Country: Spain

    In the original article, the reference for Chen et al. (2009) was incorrectly written as “Chen, P., Mao, L., Nassis, G. P., Harmer, P., Ainsworth, B. E., and Li, F. (2009). Wuhan coronavirus (2019-nCoV): the need to maintain regular physical activity while taking precautions. J. Sport Health Sci. 9, 103–104. doi: 10.1016/j.jshs.2020.02.001”. It should be “Chen, P., Mao, L., Nassis, G. P., Harmer, P., Ainsworth, B. E., and Li, F. (2020). Coronavirus disease (COVID-19): The need to maintain regular physical activity while taking precautions. J. Sport Health Sci. 9, 103–104. doi: 10.1016/j.jshs.2020.02.001”. The authors apologize for this error and state that this does not change the scientific conclusions of the article in any way. The original article has been updated.

  • Open Access English
    Authors: 
    Aguilar García, Pablo; Ghirelli, Corinna; Pacce, Matías José; Urtasun Amann, Alberto;
    Publisher: Banco de España
    Country: Spain

    Se propone un nuevo indicador de sentimiento basado en noticias de periódicos que permite analizar, en tiempo real, la evolución de la actividad económica en España. A diferencia de los indicadores de confianza tradicionales que se publican a fin de mes, nuestro indicador puede construirse con frecuencia diaria y actualizarse en tiempo real. Se compara el nuevo indicador con el indicador de sentimiento económico que publica la Comisión Europea, y se obtiene una mejora significativa al incluirlo en un modelo de previsión de crecimiento de corto plazo del PIB, respecto a la previsión que se obtiene cuando se utiliza el índice tradicional. Asimismo, nuestro indicador identifica la recesión económica causada por el Covid-19 con una mayor anticipación. En conjunto, el nuevo indicador tiene un desempeño similar al de otros indicadores cualitativos, o incluso los mejora, con la ventaja de que puede actualizarse diariamente. Por todo ello, el índice propuesto surge como una alternativa valiosa para medir la confianza en la evolución de la economía. We construct a new newspaper-based sentiment indicator for Spain that allows us to monitor Spanish economic activity in real-time. As opposed to the traditional survey-based confidence indicators that are released at the end of the month, our indicator can be constructed on a daily basis and updated in real-time. We compare our proposed index with the popular Economic Sentiment Indicator of the European Commission, and we show that ours performs significantly better in nowcasting the Spanish GDP. In addition, our indicator proves to be helpful in order to predict the current COVID-19 recession from an earlier date. All in all, our indicator performs similarly to or even outperforms other soft indicators, with the advantage of being updated daily. Thus, it provides a valuable option when measuring the confidence in the economy.

  • Open Access English
    Authors: 
    Álvarez-Román, María Teresa; García-Barcenilla, Sara; Cebanu, Tamara; González-Zorrilla, Elena; Butta, Nora V.; Fernández-Bello, Ihosvany; Martín-Salces, Mónica; Rivas-Pollmar, María Isabel; Jiménez-Yuste, Victor;
    Publisher: Wiley
    Country: Spain

    This is the peer reviewed version of the following article: "Clinical trials and Haemophilia during the COVID‐19 pandemic: Madrid's experience". Haemophilia (2020): 16 May, which has been published in final form at https://doi.org/10.1111/hae.14055. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions

  • Open Access English
    Authors: 
    Pigozzi, F.; Wolfarth B.; Cintron Rodriguez, A.; Steinacker, J. M.; Badtieva, V.; Bilzon, J. L. J.; Schneider, C.; Roberts, W. O.; Swart, J.; Constantinou, D.; +23 more
    Country: Spain

    The COVID-19 pandemic has created many challenges to ensure a safe environment for competitive sport. While modern medicine has already developed effective protocols for the treatment and prevention of the disease, there are serious concerns about hosting a sporting event of the scale of the Olympic Games, where more than 11¿000 athletes from over 200 nations are expected to participate. Accordingly, there have been many calls to cancel the Tokyo Olympic Games, also known as Tokyo 2020, in both the international press and the scientific literature. A recent perspective published in the New England Journal of Medicine (NEJM) highlights the complexity and risks of convening the Tokyo Olympic Games during the COVID-19 pandemic. Despite the many uncertainties, much has been learnt over the past 18 months and many policies trialled and tested to protect athletes during sports participation...

  • Open Access English
    Authors: 
    Roibás Millán, Irene;
    Publisher: Banco de España
    Country: Spain

    Artículo de revista

  • Other research product . Other ORP type . 2022
    Open Access English
    Authors: 
    Pérez Álvarez, Manuel A.;
    Publisher: Banco de España
    Country: Spain

    El Fondo Monetario Internacional (FMI) realizó en agosto de 2021 una nueva asignación de derechos especiales de giro (DEG), por un importe equivalente a 650 mm de dólares estadounidenses. Se trata de una cuantía significativa, que triplica los saldos actuales. En particular, para España ha supuesto un incremento de un 16 % de las reservas exteriores, así como de los activos frente al FMI, que alcanzarían un 22 % de las reservas en el balance del Banco de España, en comparación con el 10 % actual. El objetivo de esta expansión de los DEG es dar apoyo a un grupo de países con mayores dificultades para combatir el impacto de la pandemia de COVID-19, a lo que se ha unido una mayor necesidad de divisas para obtener suministros básicos, con un cierre de los mercados de capitales internacionales. Es previsible que la nueva asignación dinamice la operativa en DEG, dados su elevado importe, la acuciante necesidad de fondos en algunos países y el aprendizaje respecto a la asignación de 2009. En este documento se explican las características del uso de los DEG como fuente efectiva de liquidez, con la conclusión de que el modo en que se hace efectiva la emisión de este instrumento es mediante las transacciones, y de que es la asignación el presupuesto formal de su existencia. Por tanto, el aspecto clave para su efectividad será la realidad de las transacciones que se hagan para obtener liquidez en el tráfico internacional. Con el objetivo de hacer un seguimiento de su uso, se sugiere una ratio de su liquidez. Por otro lado, en relación con la magnitud de la asignación, y puesto que se realiza en función de las cuotas de cada país miembro del FMI, se observa un «acaparamiento» por parte de los países desarrollados, frente a los que muestran más dificultades en el acceso a los mercados, que hará inevitable la adopción de medidas que favorezcan la recirculación de los DEG para alcanzar sus fines, de modo que se complementen eficazmente las reservas disponibles en el marco del comercio internacional. In August 2021, the International Monetary Fund (IMF) made a new allocation of Special Drawing Rights (SDRs) equivalent to $650 billion. This significant amount has tripled the total existing stock of SDRs. For Spain it involves an increase of 16% in foreign reserves, and an increase in receivables from the IMF, which amount to 22% of the reserves on the balance sheet of the Banco de España, as compared with 10% at present. The purpose of this expansion of SDRs is to support a group of countries that are having most difficulty fighting the impact of the COVID-19 pandemic. These countries have a greater need for foreign exchange to obtain basic supplies just when they are shut out of international capital markets. The new allocation is likely to boost SDR transactions given its large amount, the urgent need for funds in some countries and the experience of the 2009 allocation. This paper explains the characteristics of the use of SDRs as an effective source of liquidity, concluding that the way in which the issuance of this instrument is made effective is by means of transactions, allocation being the formal prerequisite for their existence. Accordingly, the key to their effectiveness will be the transactions actually carried out to obtain liquidity in international business. A liquidity ratio is proposed for monitoring their use. With regard to the magnitude of the allocation and, given that it is based on the quotas of each IMF member country, the developed countries have received the bulk of the allocation, as opposed to those countries having greater difficulty accessing the markets. Accordingly, measures will have to be taken to promote the passing on of SDRs so that their purpose can be achieved and they effectively supplement the reserves available within the framework of international trade.

  • Open Access English
    Authors: 
    Auria, Laura; Bingmer, Markus; Caicedo Graciano, Carlos Mateo; Charavel, Clémence; Gavilá Alcalá, Sergio; Iannamorelli, Alessandra; Levy, Aviram; Maldonado García-Verdugo, Alfredo; Resch, Florian; Rossi, Anna Maria; +1 more
    Publisher: Banco de España
    Country: Spain

    Los sistemas de evaluación del crédito desarrollados internamente por los bancos centrales nacionales (ICAS) son una fuente importante de valoración del riesgo de crédito dentro del marco de los activos de garantía de política monetaria del Eurosistema. En particular, los ICAS permiten que las entidades financieras aporten los préstamos concedidos a sociedades no financieras como garantía en las operaciones crediticias en las que se instrumenta la política monetaria del Eurosistema. En este sentido, los ICAS contribuyen a que los préstamos puedan ser utilizados como colateral, dado que generalmente no son aceptados como tal en la operativa privada de repos, y benefician potencialmente en mayor medida a los bancos de tamaño mediano o pequeño que financian a las pymes. Esto último conduce no solo a una ampliación del conjunto de activos de garantía disponibles en las entidades financieras y a una mejora del mecanismo de transmisión de la política monetaria, sino también a una menor dependencia de fuentes externas de valoración del riesgo de crédito, como las agencias externas de calificación. La importancia de los ICAS se ha puesto de manifiesto en las medidas aprobadas por el Eurosistema en abril de 2020 en respuesta a la crisis del COVID-19. Dichas medidas apoyaron un mayor uso de los préstamos como activos de garantía e, indirectamente, incrementaron la importancia de los ICAS como fuente de valoración del colateral. Este documento analiza en detalle el papel de los ICAS en el contexto de las operaciones crediticias de política monetaria del Eurosistema, describiendo las guías y los requerimientos más relevantes exigidos a los ICAS en términos, entre otros factores, de la estimación de las probabilidades de impago, el papel de los modelos estadísticos frente al análisis experto, la información utilizada en el proceso de evaluación y la validación periódica de su funcionamiento. Adicionalmente, describe los principales aspectos de cada uno de los ICAS actualmente aceptados como sistema de calificación por el Eurosistema, destacando tanto sus elementos comunes como los diferenciales. The in-house credit assessment systems (ICASs) developed by euro area national central banks (NCBs) are an important source of credit risk assessment within the Eurosystem collateral framework. They allow counterparties to mobilise as collateral the loans (credit claims) granted to non-financial corporations (NFCs). In this way, ICASs increase the usability of non-marketable credit claims that are normally not accepted as collateral in private market repo transactions, especially for small and medium-sized banks that lend primarily to small and medium-sized enterprises (SMEs). This ultimately leads not only to a widened collateral base and an improved transmission mechanism of monetary policy, but also to a lower reliance on external sources of credit risk assessment such as rating agencies. The importance of ICASs is exemplified by the collateral easing measures adopted in April 2020 in response to the coronavirus (COVID-19) crisis. The measures supported the greater use of credit claim collateral and, indirectly, increased the prevalence of ICASs as a source of collateral assessment. This paper analyses in detail the role of ICASs in the context of the Eurosystem’s credit operations, describing the relevant Eurosystem guidelines and requirements in terms of, among other factors, the estimation of default probabilities, the role of statistical models versus expert analysis, input data, validation analysis and performance monitoring. It then presents the main features of each of the ICASs currently accepted by the Eurosystem as credit assessment systems, highlighting similarities and differences.

  • Open Access English
    Authors: 
    Quesada López, David; Larrañaga Múgica, Pedro María; Bielza Lozoya, María Concepción;
    Publisher: E.T.S. de Ingenieros Informáticos (UPM)
    Country: Spain

    When we face patients arriving to a hospital suffering from the effects of some illness, one of the main problems we can encounter is evaluating whether or not said patient is going to require intensive care in the near future. This intensive care requires allotting valuable and scarce resources, and knowing beforehand the severity of a patients illness can improve both its treatment and the organization of resources. We illustrate this issue in a dataset consistent of Spanish COVID-19 patients from the sixth epidemic wave and label patients as critical when they either had to enter the intensive care unit or passed away. We then combine the use of dynamic Bayesian networks, to forecast the vital signs and the blood analysis results of patients over the next 80 hours, and different classifier models, to evaluate the severity of a patients illness. Our empirical results show that the transposition of the current state of a patient for its subsequent use in classification obtains promising results for the tested models.

Advanced search in Research products
Research products
arrow_drop_down
Searching FieldsTerms
Any field
arrow_drop_down
includes
arrow_drop_down
Include:
The following results are related to COVID-19. Are you interested to view more results? Visit OpenAIRE - Explore.
35 Research products, page 1 of 4
  • Open Access English
    Authors: 
    Dopazo, Joaquín;
    Country: Spain

    Sesión 3. Medicina de Precisión y Transformación Digital del Sistema Nacional de Salud. Clinical data is becoming Big Data. The future of genomic data generation. The four levels of diagnosis. SIEGA: Sistema Integrado de Epidemiología Genómica de Andalucía. Systematic drug repurposing in SARS CoV 2 with machine learning and mechanistic models. Transformación del sistema de salud. No

  • Open Access English
    Authors: 
    Sánchez-Pernaute, Olga; Romero-Bueno, Fredeswinda; Selva-O´Callaghan, Albert;
    Publisher: Elsevier
    Country: Spain

    Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active

  • Other research product . Other ORP type . 2021
    Open Access English
    Authors: 
    López Bueno, Rubén; Calatayud, Joaquín; Casaña José; Casajús, José A.; Smith, Lee; Tully, Mark A.; Andersen, Lars L.; López-Sánchez, Guillermo Felipe;
    Country: Spain

    In the original article, the reference for Chen et al. (2009) was incorrectly written as “Chen, P., Mao, L., Nassis, G. P., Harmer, P., Ainsworth, B. E., and Li, F. (2009). Wuhan coronavirus (2019-nCoV): the need to maintain regular physical activity while taking precautions. J. Sport Health Sci. 9, 103–104. doi: 10.1016/j.jshs.2020.02.001”. It should be “Chen, P., Mao, L., Nassis, G. P., Harmer, P., Ainsworth, B. E., and Li, F. (2020). Coronavirus disease (COVID-19): The need to maintain regular physical activity while taking precautions. J. Sport Health Sci. 9, 103–104. doi: 10.1016/j.jshs.2020.02.001”. The authors apologize for this error and state that this does not change the scientific conclusions of the article in any way. The original article has been updated.

  • Open Access English
    Authors: 
    Aguilar García, Pablo; Ghirelli, Corinna; Pacce, Matías José; Urtasun Amann, Alberto;
    Publisher: Banco de España
    Country: Spain

    Se propone un nuevo indicador de sentimiento basado en noticias de periódicos que permite analizar, en tiempo real, la evolución de la actividad económica en España. A diferencia de los indicadores de confianza tradicionales que se publican a fin de mes, nuestro indicador puede construirse con frecuencia diaria y actualizarse en tiempo real. Se compara el nuevo indicador con el indicador de sentimiento económico que publica la Comisión Europea, y se obtiene una mejora significativa al incluirlo en un modelo de previsión de crecimiento de corto plazo del PIB, respecto a la previsión que se obtiene cuando se utiliza el índice tradicional. Asimismo, nuestro indicador identifica la recesión económica causada por el Covid-19 con una mayor anticipación. En conjunto, el nuevo indicador tiene un desempeño similar al de otros indicadores cualitativos, o incluso los mejora, con la ventaja de que puede actualizarse diariamente. Por todo ello, el índice propuesto surge como una alternativa valiosa para medir la confianza en la evolución de la economía. We construct a new newspaper-based sentiment indicator for Spain that allows us to monitor Spanish economic activity in real-time. As opposed to the traditional survey-based confidence indicators that are released at the end of the month, our indicator can be constructed on a daily basis and updated in real-time. We compare our proposed index with the popular Economic Sentiment Indicator of the European Commission, and we show that ours performs significantly better in nowcasting the Spanish GDP. In addition, our indicator proves to be helpful in order to predict the current COVID-19 recession from an earlier date. All in all, our indicator performs similarly to or even outperforms other soft indicators, with the advantage of being updated daily. Thus, it provides a valuable option when measuring the confidence in the economy.

  • Open Access English
    Authors: 
    Álvarez-Román, María Teresa; García-Barcenilla, Sara; Cebanu, Tamara; González-Zorrilla, Elena; Butta, Nora V.; Fernández-Bello, Ihosvany; Martín-Salces, Mónica; Rivas-Pollmar, María Isabel; Jiménez-Yuste, Victor;
    Publisher: Wiley
    Country: Spain

    This is the peer reviewed version of the following article: "Clinical trials and Haemophilia during the COVID‐19 pandemic: Madrid's experience". Haemophilia (2020): 16 May, which has been published in final form at https://doi.org/10.1111/hae.14055. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions

  • Open Access English
    Authors: 
    Pigozzi, F.; Wolfarth B.; Cintron Rodriguez, A.; Steinacker, J. M.; Badtieva, V.; Bilzon, J. L. J.; Schneider, C.; Roberts, W. O.; Swart, J.; Constantinou, D.; +23 more
    Country: Spain

    The COVID-19 pandemic has created many challenges to ensure a safe environment for competitive sport. While modern medicine has already developed effective protocols for the treatment and prevention of the disease, there are serious concerns about hosting a sporting event of the scale of the Olympic Games, where more than 11¿000 athletes from over 200 nations are expected to participate. Accordingly, there have been many calls to cancel the Tokyo Olympic Games, also known as Tokyo 2020, in both the international press and the scientific literature. A recent perspective published in the New England Journal of Medicine (NEJM) highlights the complexity and risks of convening the Tokyo Olympic Games during the COVID-19 pandemic. Despite the many uncertainties, much has been learnt over the past 18 months and many policies trialled and tested to protect athletes during sports participation...

  • Open Access English
    Authors: 
    Roibás Millán, Irene;
    Publisher: Banco de España
    Country: Spain

    Artículo de revista

  • Other research product . Other ORP type . 2022
    Open Access English
    Authors: 
    Pérez Álvarez, Manuel A.;
    Publisher: Banco de España
    Country: Spain

    El Fondo Monetario Internacional (FMI) realizó en agosto de 2021 una nueva asignación de derechos especiales de giro (DEG), por un importe equivalente a 650 mm de dólares estadounidenses. Se trata de una cuantía significativa, que triplica los saldos actuales. En particular, para España ha supuesto un incremento de un 16 % de las reservas exteriores, así como de los activos frente al FMI, que alcanzarían un 22 % de las reservas en el balance del Banco de España, en comparación con el 10 % actual. El objetivo de esta expansión de los DEG es dar apoyo a un grupo de países con mayores dificultades para combatir el impacto de la pandemia de COVID-19, a lo que se ha unido una mayor necesidad de divisas para obtener suministros básicos, con un cierre de los mercados de capitales internacionales. Es previsible que la nueva asignación dinamice la operativa en DEG, dados su elevado importe, la acuciante necesidad de fondos en algunos países y el aprendizaje respecto a la asignación de 2009. En este documento se explican las características del uso de los DEG como fuente efectiva de liquidez, con la conclusión de que el modo en que se hace efectiva la emisión de este instrumento es mediante las transacciones, y de que es la asignación el presupuesto formal de su existencia. Por tanto, el aspecto clave para su efectividad será la realidad de las transacciones que se hagan para obtener liquidez en el tráfico internacional. Con el objetivo de hacer un seguimiento de su uso, se sugiere una ratio de su liquidez. Por otro lado, en relación con la magnitud de la asignación, y puesto que se realiza en función de las cuotas de cada país miembro del FMI, se observa un «acaparamiento» por parte de los países desarrollados, frente a los que muestran más dificultades en el acceso a los mercados, que hará inevitable la adopción de medidas que favorezcan la recirculación de los DEG para alcanzar sus fines, de modo que se complementen eficazmente las reservas disponibles en el marco del comercio internacional. In August 2021, the International Monetary Fund (IMF) made a new allocation of Special Drawing Rights (SDRs) equivalent to $650 billion. This significant amount has tripled the total existing stock of SDRs. For Spain it involves an increase of 16% in foreign reserves, and an increase in receivables from the IMF, which amount to 22% of the reserves on the balance sheet of the Banco de España, as compared with 10% at present. The purpose of this expansion of SDRs is to support a group of countries that are having most difficulty fighting the impact of the COVID-19 pandemic. These countries have a greater need for foreign exchange to obtain basic supplies just when they are shut out of international capital markets. The new allocation is likely to boost SDR transactions given its large amount, the urgent need for funds in some countries and the experience of the 2009 allocation. This paper explains the characteristics of the use of SDRs as an effective source of liquidity, concluding that the way in which the issuance of this instrument is made effective is by means of transactions, allocation being the formal prerequisite for their existence. Accordingly, the key to their effectiveness will be the transactions actually carried out to obtain liquidity in international business. A liquidity ratio is proposed for monitoring their use. With regard to the magnitude of the allocation and, given that it is based on the quotas of each IMF member country, the developed countries have received the bulk of the allocation, as opposed to those countries having greater difficulty accessing the markets. Accordingly, measures will have to be taken to promote the passing on of SDRs so that their purpose can be achieved and they effectively supplement the reserves available within the framework of international trade.

  • Open Access English
    Authors: 
    Auria, Laura; Bingmer, Markus; Caicedo Graciano, Carlos Mateo; Charavel, Clémence; Gavilá Alcalá, Sergio; Iannamorelli, Alessandra; Levy, Aviram; Maldonado García-Verdugo, Alfredo; Resch, Florian; Rossi, Anna Maria; +1 more
    Publisher: Banco de España
    Country: Spain

    Los sistemas de evaluación del crédito desarrollados internamente por los bancos centrales nacionales (ICAS) son una fuente importante de valoración del riesgo de crédito dentro del marco de los activos de garantía de política monetaria del Eurosistema. En particular, los ICAS permiten que las entidades financieras aporten los préstamos concedidos a sociedades no financieras como garantía en las operaciones crediticias en las que se instrumenta la política monetaria del Eurosistema. En este sentido, los ICAS contribuyen a que los préstamos puedan ser utilizados como colateral, dado que generalmente no son aceptados como tal en la operativa privada de repos, y benefician potencialmente en mayor medida a los bancos de tamaño mediano o pequeño que financian a las pymes. Esto último conduce no solo a una ampliación del conjunto de activos de garantía disponibles en las entidades financieras y a una mejora del mecanismo de transmisión de la política monetaria, sino también a una menor dependencia de fuentes externas de valoración del riesgo de crédito, como las agencias externas de calificación. La importancia de los ICAS se ha puesto de manifiesto en las medidas aprobadas por el Eurosistema en abril de 2020 en respuesta a la crisis del COVID-19. Dichas medidas apoyaron un mayor uso de los préstamos como activos de garantía e, indirectamente, incrementaron la importancia de los ICAS como fuente de valoración del colateral. Este documento analiza en detalle el papel de los ICAS en el contexto de las operaciones crediticias de política monetaria del Eurosistema, describiendo las guías y los requerimientos más relevantes exigidos a los ICAS en términos, entre otros factores, de la estimación de las probabilidades de impago, el papel de los modelos estadísticos frente al análisis experto, la información utilizada en el proceso de evaluación y la validación periódica de su funcionamiento. Adicionalmente, describe los principales aspectos de cada uno de los ICAS actualmente aceptados como sistema de calificación por el Eurosistema, destacando tanto sus elementos comunes como los diferenciales. The in-house credit assessment systems (ICASs) developed by euro area national central banks (NCBs) are an important source of credit risk assessment within the Eurosystem collateral framework. They allow counterparties to mobilise as collateral the loans (credit claims) granted to non-financial corporations (NFCs). In this way, ICASs increase the usability of non-marketable credit claims that are normally not accepted as collateral in private market repo transactions, especially for small and medium-sized banks that lend primarily to small and medium-sized enterprises (SMEs). This ultimately leads not only to a widened collateral base and an improved transmission mechanism of monetary policy, but also to a lower reliance on external sources of credit risk assessment such as rating agencies. The importance of ICASs is exemplified by the collateral easing measures adopted in April 2020 in response to the coronavirus (COVID-19) crisis. The measures supported the greater use of credit claim collateral and, indirectly, increased the prevalence of ICASs as a source of collateral assessment. This paper analyses in detail the role of ICASs in the context of the Eurosystem’s credit operations, describing the relevant Eurosystem guidelines and requirements in terms of, among other factors, the estimation of default probabilities, the role of statistical models versus expert analysis, input data, validation analysis and performance monitoring. It then presents the main features of each of the ICASs currently accepted by the Eurosystem as credit assessment systems, highlighting similarities and differences.

  • Open Access English
    Authors: 
    Quesada López, David; Larrañaga Múgica, Pedro María; Bielza Lozoya, María Concepción;
    Publisher: E.T.S. de Ingenieros Informáticos (UPM)
    Country: Spain

    When we face patients arriving to a hospital suffering from the effects of some illness, one of the main problems we can encounter is evaluating whether or not said patient is going to require intensive care in the near future. This intensive care requires allotting valuable and scarce resources, and knowing beforehand the severity of a patients illness can improve both its treatment and the organization of resources. We illustrate this issue in a dataset consistent of Spanish COVID-19 patients from the sixth epidemic wave and label patients as critical when they either had to enter the intensive care unit or passed away. We then combine the use of dynamic Bayesian networks, to forecast the vital signs and the blood analysis results of patients over the next 80 hours, and different classifier models, to evaluate the severity of a patients illness. Our empirical results show that the transposition of the current state of a patient for its subsequent use in classification obtains promising results for the tested models.