{
  "title": "Spain: Basel Core Principles for Effective Banking Supervision: Detailed Assessment of Compliance Report",
  "publication": "IMF Staff Country Reports, June 11, 2012",
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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.",
  "publishDate": "2012-06-11",
  "series": "IMF Staff Country Reports",
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    {
      "heading": "Executive summary",
      "content": "- Publication date: June 11, 2012\n- This paper assesses compliance with the Basel Core Principles for Effective Banking Supervision in Spain.\n- Significant changes since the last Financial Sector Assessment Program (FSAP) are highlighted, notably:\n  - The deterioration of the economy and the real estate sector.\n  - The dual legal framework governing Cajas, which poses the risk of potential conflicts in the exercise of supervisory and sanctioning authority.\n  - Other 2006 FSAP recommendations have been magnified in light of events from 2007 to 2011."
    },
    {
      "heading": "Major findings and risks",
      "content": "- Deterioration of the economy and the real estate sector identified as the most serious change since the previous FSAP.\n- Dual legal framework governing Cajas creates risk of potential conflicts in supervisory and sanctioning authority.\n- Legacy 2006 FSAP recommendations remain relevant and have been amplified by developments during 2007–2011."
    },
    {
      "heading": "Scope and subject coverage",
      "content": "- Subjects: Bank supervision; Banking; Capital adequacy requirements; Commercial banks; Credit; Financial regulation and supervision; Internal audit; Internal controls; Money; Public financial management (PFM); Revenue administration.\n- Keywords: Bank supervision; banking group; Capital adequacy requirements; capital ratio; central bank; CR; Credit; credit risk; Global; internal audit; Internal controls; ISCR; risk management; risk profile; senior management.\n\n---\n\n Content in this bundle\n\n- Cr12142\n  - Cr12142 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr12142 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-basel-core-principles-for-effective-banking-supervision-detailed-assessment-of-25982"
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    "Published: June 11, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475504293.002",
    "Publication date: June 11, 2012",
    "This paper assesses compliance with the Basel Core Principles for Effective Banking Supervision in Spain.",
    "Significant changes since the last Financial Sector Assessment Program (FSAP) are highlighted, notably:",
    "Deterioration of the economy and the real estate sector identified as the most serious change since the previous FSAP.",
    "Dual legal framework governing Cajas creates risk of potential conflicts in supervisory and sanctioning authority.",
    "Legacy 2006 FSAP recommendations remain relevant and have been amplified by developments during 2007–2011.",
    "Subjects: Bank supervision; Banking; Capital adequacy requirements; Commercial banks; Credit; Financial regulation and supervision; Internal audit; Internal controls; Money; Public financial management (PFM); Revenue administration.",
    "Keywords: Bank supervision; banking group; Capital adequacy requirements; capital ratio; central bank; CR; Credit; credit risk; Global; internal audit; Internal controls; ISCR; risk management; risk profile; senior management.",
    "**Cr12142**"
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