{
  "title": "Spain: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, June 8, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-financial-system-stability-assessment-25977",
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  "summary": "This report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain. Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain.",
  "publishDate": "2012-06-08",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- The report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain.\n- Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain.\n- Substantial progress has been made in reforming the former savings banks.\n- The most vulnerable institutions have either been resolved or are being restructured.\n- Recent measures address the most problematic part of banks’ portfolios.\n- Moving ahead, a further restructuring and recapitalization of some of the remaining weaker banks may be needed as a result of deteriorating economic conditions."
    },
    {
      "heading": "Major themes and risks",
      "content": "- Banking sector resilience: presence of a core of strong, well-managed banks that appear resilient to further shocks.\n- Legacy-sector vulnerabilities: former savings banks required substantial reform; the most vulnerable institutions faced resolution or restructuring.\n- Asset-quality focus: recent measures target the most problematic parts of banks’ portfolios, particularly mortgage and loan exposures linked to housing prices.\n- Potential future actions: additional restructuring and recapitalization may be necessary for some weaker banks if economic conditions deteriorate."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subjects: Banking; Commercial banks; Financial crises; Financial institutions; Financial sector policy and analysis; Housing prices; Loans; Mortgages; Prices; Stress testing\n- Keywords: bank assets; bank risk; banking group; banking sector; banking system; capital ratio; Commercial banks; CR; debt service; Europe; financial system; Global; Housing prices; interest rate; ISCR; Loans; mortgage portfolio; preference shares; sensitivity analysis; Stress testing; unemployment rate\n\n---\n\n Content in this bundle\n\n- Spain: Financial Stability Assessment; IMF Country Report 12/137; May 30, 2012\n  - Spain: Financial Stability Assessment; IMF Country Report 12/137; May 30, 2012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Spain: Financial Stability Assessment; IMF Country Report 12/137; May 30, 2012 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-financial-system-stability-assessment-25977"
    }
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/spain-financial-system-stability-assessment-25977/index.md)",
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    "Published: June 8, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475504231.002",
    "The report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain.",
    "Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain.",
    "Substantial progress has been made in reforming the former savings banks.",
    "The most vulnerable institutions have either been resolved or are being restructured.",
    "Recent measures address the most problematic part of banks’ portfolios.",
    "Moving ahead, a further restructuring and recapitalization of some of the remaining weaker banks may be needed as a result of deteriorating economic conditions.",
    "Banking sector resilience: presence of a core of strong, well-managed banks that appear resilient to further shocks.",
    "Legacy-sector vulnerabilities: former savings banks required substantial reform; the most vulnerable institutions faced resolution or restructuring.",
    "Asset-quality focus: recent measures target the most problematic parts of banks’ portfolios, particularly mortgage and loan exposures linked to housing prices.",
    "Potential future actions: additional restructuring and recapitalization may be necessary for some weaker banks if economic conditions deteriorate.",
    "Subjects: Banking; Commercial banks; Financial crises; Financial institutions; Financial sector policy and analysis; Housing prices; Loans; Mortgages; Prices; Stress testing",
    "Keywords: bank assets; bank risk; banking group; banking sector; banking system; capital ratio; Commercial banks; CR; debt service; Europe; financial system; Global; Housing prices; interest rate; ISCR; Loans; mortgage portfolio; preference shares; sensitivity analysis; Stress testing; unemployment rate",
    "**Spain: Financial Stability Assessment; IMF Country Report 12/137; May 30, 2012**"
  ],
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