Spain: Financial Sector Assessment Program-Technical Note-Insolvency and Creditor Rights

November 13, 2017

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Format: Chicago

Spain: Financial Sector Assessment Program-Technical Note-Insolvency and Creditor Rights, (USA: International Monetary Fund, 2017) accessed September 19, 2024

Summary

This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain in the areas of insolvency and creditor rights. The regime for creditor and debtor rights largely conforms to international best practices. With respect to creditor and debtor rights, the registration of real estate mortgages is efficient, reliable, and cost-effective. Owing to nonperforming loans, real estate foreclosure has been extensively used in Spain. Real estate collateral plays a critical role in Spain owing to the fact that a very large percentage of loans are collateralized with real estate. The institutional framework supporting insolvency and creditor rights has been strengthened but requires further reinforcement and more resources.

Subject: Asset and liability management, Collateral, Debt restructuring, Financial institutions, Financial sector policy and analysis, Legal support in revenue administration, Revenue administration, Securities, Solvency

Keywords: Collateral, CR, Creditor right, Debt restructuring, Debtor right, EU insolvency directive, Global, Insolvency administrator, ISCR, Legal support in revenue administration, Restructuring procedure, Securities, Solvency

Publication Details

Pages:

21
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/340
Stock No:

1ESPEA2017010
ISBN:

9781484327166
ISSN:

1934-7685

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