IMF Staff Country Reports

Spain: Basel Core Principles for Effective Banking Supervision: Detailed Assessment of Compliance Report

Publication Date:

June 11, 2012

Electronic Access:

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Summary:

This paper assesses compliance of the Basel Core Principles for Effective Banking Supervision in Spain. Significant changes have occurred in Spain since the last Financial Sector Assessment Program (FSAP). The most serious has been the deterioration of the economy and the real estate sector. The dual legal framework governing Cajas poses the risk of potential conflicts in the exercise of supervisory and sanctioning authority. Other 2006 FSAP recommendations have been magnified with the perspective given by events from 2007 to 2011.

Series:

Country Report No. 2012/142

Subject:

Bank supervision Banking Capital adequacy requirements Commercial banks Credit Financial regulation and supervision Internal audit Internal controls Money Public financial management (PFM) Revenue administration