Spain: Financial Sector Assessment Program -Technical Note: Regulation, Supervision, and Governance of the Spanish Cajas

IMF Staff Country Reports, June 14, 2006

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Canonical URL: Spain: Financial Sector Assessment Program -Technical Note: Regulation, Supervision, and Governance of the Spanish Cajas

This report provides the background on the financial liberalization and deregulation process with special reference to Spain’s cajas de ahorros (savings banks).
It provides an overview of the cajas’ governance structure and analyzes the regulation and supervision of cajas, with particular reference to the division of responsibilities between the central government (State) and the autonomous communities.
It discusses the main challenges in terms of ensuring the cajas’ operational autonomy and leveling between savings and commercial banks.
It also summarizes the main findings and provides recommendations.
Publication date: June 14, 2006

Financial liberalization and deregulation process affecting cajas de ahorros.
Governance structure of the cajas.
Regulation and supervision of cajas, emphasizing division of responsibilities between the State and the autonomous communities.
Ensuring operational autonomy of cajas and achieving a level playing field between savings and commercial banks.
Summary of main findings and policy recommendations.

Subject: Bank liquidation, Banking, Commercial banks, Credit, Economic sectors, Financial crises, Financial institutions, Legal support in revenue administration, Money, Public sector, Revenue administration
Keywords: ACs power, Bank liquidation, board of directors, business group, central government, Commercial banks, CR, Credit, ISCR, Legal support in revenue administration, Public sector, sanction savings banks, savings banks system, stabilization fund