Address
Bayes Business School (formerly Cass), Office 5062
106 Bunhill Row, London EC1Y 8TZ, UK
Phone: +44 (0)20 7040 5853
E-mail: Francesc.Rodriguez-Tous@city.ac.uk
Citizenship: Spanish
Education
2012 - 15: PhD in Economics, Finance and Management, Universitat Pompeu Fabra, Barcelona.
Supervisor: José-Luis Peydró.
2011 - 12: MRes in Economics, Finance and Management, Universitat Pompeu Fabra, Barcelona.
2008 - 09: MSc in Economics, London School of Economics, London.
2004 - 08: BSc in Economics, Universitat Pompeu Fabra, Barcelona.
Employment
2016 - present: Senior Lecturer in Banking, Bayes Business School.
2015 - 16: Research Economist, Bank of England.
2014 - 15: PhD Intern / Guest Researcher, Deutsche Bundesbank.
2009 - 11: Research assistant, Banco de España.
Research
Publications
Distributional consequences of borrower-based macroprudential tools (with J.-L. Peydró, J. Tripathy, and A. Uluc), 2025, chapter forthcoming at the Research Handbook of Macroprudential Policy, Edited by Elgar.
Loan evergreening through banks' lenses: Evidence from product-level data (C. Dassatti, R. Lluberas, F. Rodriguez-Tous), 2025. Forthcoming at the Journal of Money, Credit and Banking.
Bank capital regulation and derivatives clearing (J. Acosta-Smith, G. Ferrara, and F. Rodriguez-Tous), 2024. Forthcoming at the International Journal of Finance and Economics.
Macroprudential policy, mortgage cycles and distributional effects: Evidence from the UK (J.-L. Peydró, F. Rodriguez-Tous, J. Tripathy, A. Uluc), 2023, The Review of Financial Studies, forthcoming.
Securities trading by banks and credit supply: Micro-evidence from the crisis (P. Abbassi, R. Iyer, J.-L. Peydró, and F. R. Tous), 2016, Journal of Financial Economics 121(3): 569-594.
Working papers
Macroprudential and monetary policy: Loan-level evidence from reserve requirements (C. Dassatti, J.-L. Peydró, F. Rodriguez-Tous, S. Vicente). 2023.
Work in progress
Monetary policy and mortgage fixation. (A. Rajan, F. Rodriguez-Tous, M. Salgado-Moreno).
Presentations (* indicates co-authors')
2025: 32nd Finance Forum (Pamplona), The Unintended Conseuences of Financial Regulation conference (London School of Economics)*, IWFSAS 2025 (Barcelona), Ridge Financial Stability (Montevideo).
2024: 31st Finance Forum (Tenerife), EEA-ESEM (Rotterdam)*.
2023: Universidad Carlos III (Madrid), 30th Finance Forum (Malaga), 19th Annual Conference of the Asia-Pacific Association of Derivatives (Busan).
2022: EFiC (Essex), Bayes Business School, Bank of England.
2021: IMF*, Banco Central del Uruguay.
2020: Hu Berlin.
2019: Deutsche Bundesbank, 27th Finance Forum*.
2018: EFA Annual Meeting*, EEA Annual Meeting*, ECB*, BIS*, BoE*, 2018 IWFSAS.
2017: IBEFA Annual Meeting, RIDGE Workshop on Financial Stability (Uruguay).
2016: AEA Annual Meeting, Cass Business School, Bank of England.
2015: Joint RTF-CEPR-JFI workshop ‘Banking and regulation: the next frontier’ (BIS), IBEFA Annual Meeting, RIDGE Workshop on Financial Stability (Uruguay), European Bank for Reconstruction and Development, Bank of England.
Discussions
"Banks, firms, and households: Credit shock amplification and real effects" (C. Huylebroek and J. Cao), IWFSAS 2025 (Barcelona).
"Credit supply and green investments" (A. Accetturo, G. Barboni, M. Cascarano, E. Garcia-Appendini, and M. Tomasi), 3rd Workshop on Markets and Intermediaries (Berlin, 2025).
"Beyond banks: Monetary policy transmission to lending" (R. Goncharenko and Elizaveta Lukmanova), 32nd Finance Forum (Pamplona, 2025).
"Monetary policy, bank leverage and systemic risk-taking" (K. Aoki, E. Martorell, and K. Nikolov), in 31st Finance Forum (Tenerife, 2024).
"Repeated interactions in distant lending relationships" (M. Heissel), in 31st Finance Forum (Tenerife, 2024).
"Distortive effects of deposit insurance: Administrative evidence from deposits and loan accounts" (D. Cucic, R. Iyer, S. Kokas, J.-L. Peydró, and S. Pica), 13th MoFiR Workshop on Banking (EBRD, 2024).
"Macroprudential policy leakage through firms" (B. Imbierowiez, A. Loeffler, S. Ongena, and U. Vogel), 2024 BEAR Conference: The Prudential Framework (Bank of England).
"The impact of credit substitution between banks on investment" (F. Bripi), 5th Conference on Contemporary Issues in Banking (St. Andrews, 2023).
"Deposit market concentration and monetary transmission: Evidence from the euro area" (S. Kho), Day-Ahead Workshop on Financial Intermediation (Bayes, 2023).
"Are banks really informed? Evidence from their private information" (M. Beyhaghi and G. Weitzner), 30th Finance Forum (Malaga, 2023).
"Price discrimination and mortgage choice" (J. Coen, A. Kashyap, and M. Rostom), 8th Emerging Scholars in Banking and Finance Conference (Bayes, 2022).
"Who pays for your rewards? Cross-subsidization in the credit card market" (S. Agarwal, A. F. Presbitero, A. F. Silva, and C. Wix), in IWFSAS 2022 (Bayes)
"How binding is supervisory guidance? Evidence from the European calendar provisioning" (F. Fiordelisi, G. Lattanzio, and D. S. Mare), in EFiC 2022 Conference in Banking and Corporate Finance (Essex).
"Household leverage and labor market outcomes: Evidence from a macroprudential mortgage restriction" (G. Kabas and K. Roszbach), in EFiC 2021 Conference in Banking and Corporate Finance (Virtual).
"Fire sale risk and mortgage origination" (D. Bongaerts, F. Mazzola, and W. Wagner), 7th Emerging Scholars in Banking and Finance (Cass, 2020).
"Separating retail and investment banking" (M. Chavaz and D. Elliott), in ECB-BoJ-BoE Joint Research Workshop (Bank of England, 2020).
"Negative interest rates, excess liquidity and retail deposits: Banks' reaction to unconventional monetary policy in the euro area" (S. Demisalp, J. Eisenschmidt, and T. Vlassopoulos), in Workshop on Bank Business Models (Cass, 2019).
"U.S. monetary policy transmission and liquidity risk premia around the world" (A. Karolyi, M. van Dijk, and K.-H. Lee), discussion co-authored (yes, co-authored) with J.-L. Peydró in the 2019 Annual Conference in International Finance (Imperial, 2019).
"Economics of voluntary information sharing" (J. Liberti, J. Sturgess, and A. Sutherland), in 3rd Bristol Workshop on Banking and Financial Intermediation (Bristol, 2019)
"Regulatory limits to risk management" (I. Sen), in the 6th Emerging Scholars in Banking and Finance Conference (Cass, 2018).
"The simplistic model to estimate the required amount of the bank's loss absorbing capacity" (A. Stopczynski), in the 2018 EBA Policy Research Workshop (London, 2018).
"Bank information sharing and liquidity risk" (F. Castiglionesi, Z. Li, and K. Ma), in the 2018 IWFSAS (Cass, 2018).
"Household credit, global financial cycle, and macroprudential policies: credit register evidence from an emerging country" (M. Epure, I. Mihai, C. Minoiu, J.-L. Peydró), in the 45th EFA Annual Meeting (Warsaw, 2018).
"Congruence in governance: Evidence from creditor monitoring of corporate acquisition" (D. Becher, T. Griffin, G. Nini), in the 3rd Annual MARC Conference (Cass, 2018).
"Move a little closer? Information sharing and the spatial clustering of bank branches" (S. Qi, R. De Haas, S. Ongena, S. Straetmans), in the 7th MoFiR Workshop on Banking (Ancona, 2018).
"The private production of safe assets" (M. Kacperczyk, C. Pérignon, G. Vuillemey), in the Research forum on macro-finance (Bank of England, 2018).
"Life below zero: Negative policy rates and bank risk taking" (F. Heider, F. Saidi, G. Schepens), in the 1st Workshop on Corporate Debt Markets (Cass, 2017).
"Contingent convertible capital instruments and bank risks" (F. Fiordelisi, O. Ricci, G. Pennacchi), in the FINEST summer workshop (Essex, 2017).
"Emergency liquidity facilities, signalling and funding costs" (C. Gauthier, A. Lehar, H. Perez-Saiz, M. Souissi), in the 13th Annual Central Bank Conference on the Microstructure of Financial Markets (Bank of England, 2017).
"Will money talk? Firm bribery and credit access" (Shusen Qi), in the 5th Emerging Scholars in Banking and Finance conference (Cass, 2016).
PhD Students (completed)
Lavinia Franco: PhD in 2024, placement ECB.
Onur Sefiloglu: PhD in 2023, placement Essex Business School.
Referee
Journal of Corporate Finance, Journal of Money, Credit and Banking, Journal of Banking and Finance, Journal of Futures Markets, Journal of International Money and Finance, International Journal of Central Banking, International Review of Finance, European Journal of Operational Research, Journal of Economic Behavior and Organization, Humanities and Social Sciences Communications, European Journal of Finance.
Conference and workshop organisation
∙ 9th Emerging Scholars in Banking and Finance Conference, Bayes Business School, 2024.
∙ New (and Old) Challenges to Financial Intermediaries Conference, Bayes Business School, 2023.
∙ 8th Emerging Scholars in Banking and Finance Conference, Bayes Business School, 2022.
∙ International Workshop on Financial System Architecture and Stability (IWFSAS) 2022, Bayes Business School.
∙ 7th Emerging Scholars in Banking and Finance Conference, Virtual, 2020.
∙ International Workshop on Financial System Architecture and Stability (IWFSAS) 2020, Virtual, 2020.
∙ 6th Emerging Scholars in Banking and Finance Conference, Bayes Business School, 2018.
∙ International Workshop on Financial System Architecture and Stability (IWFSAS) 2018, Bayes Business School.
∙ 2nd Workshop on Corporate Debt Markets, Bayes Business School, 2018.
Teaching experience
Bayes Business School
Topics in Banking and Finance (MRes, SMM994): 2019 to nowadays.
Monetary Economics (UG, IF3109): 2021 to nowadays.
Digital Money and Banking (MSc, SMM093): 2026.
Bank Strategy and Management (UG, IF3104): 2016 to 2023.
Banking Regulation (UG, IF3102): 2018.
Imperial College Business School
Banks, Regulation, and Monetary Policy (MSc): 2025
Middlesex University
Contemporary Issues in Financial Services (UG, ECS3320): 2015.
Financial Markets and Institutions (UG, ECS1340): 2015.
Universitat Pompeu Fabra and Barcelona GSE (Teaching Assistant)
Financial Institutions Management (G): 2013, 2014, 2015.
Systemic Risk and Financial Crises (G): 2013, 2014.
Advanced Microeconomics II (G): 2013.
Financial Economics (UG): 2015.
Introduction to Microeconomics (UG): 2014.
Banking and Financial Institutions (UG): 2013.
Introduction to Macroeconomics (UG): 2013.