13  On dynamic provisioning, see Fernandez de Lis, Martinez Pages and Saurina (2000), “Credit growth, problem loans and credit risk provisioning in Spain”, Banco de España Working Paper No. 0018, Madrid, and Jimenez and Saurina (2006), “Credit cycles, credit risk and prudential regulation”, International Journal of Central Banking, 3(2), pp. 65-98.
14  Most or all of them have already been identified in the Draghi Report prepared by the Financial Stability Forum (2008), “Enhancing market and institutional resilience”, Basel, 7 April, as the first regulatory and supervisory response to the experiences of the present financial crisis. 15  See in particular Brunnermeier et al.