Vulnerability indicators for emerging countries which are material for Spanish banking system
We present the vulnerability indicators for emerging countries which are material for Spanish banking system. The details of the methodology can be consulted in an occasional paper from Banco de España (Alonso y Molina 2021 
(663 KB)) and in an article in Economic Modeling (Alonso y Molina 2023 (3 MB)).
Banco de España annually carries out an exercise to identify third countries (that is, from outside the European Economic Area) that have material relevance for the Spanish banking system for the purposes of the countercyclical capital buffer (CCyB). To this end, the volume of international exposures of Spanish banking entities is analyzed following the methodological guidelines of the European Systemic Risk Board. In 2023, nine material countries have been identified, which are the United States, the United Kingdom, among the developed economies, and Turkey, plus six Latin American economies (Argentina, Brazil, Chile, Colombia, Mexico and Peru), among the emerging economies. See the section dedicated to the CCA on the Bank of Spain website.
For any questions about the methodology or the availability of the data, please contact ec_internacionalyeuro@bde.es 
.