## Spain: Report on the Observance of Standards and Codes: Summary Assessments

_IMF Staff Country Reports, June 8, 2012_

## Source details

**Canonical URL:** [Spain: Report on the Observance of Standards and Codes: Summary Assessments](https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-report-on-the-observance-of-standards-and-codes-summary-assessments-25978)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/spain-report-on-the-observance-of-standards-and-codes-summary-assessments-25978/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/spain-report-on-the-observance-of-standards-and-codes-summary-assessments-25978/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/spain-report-on-the-observance-of-standards-and-codes-summary-assessments-25978/bundle-manifest.json)

## Bibliographic details
- Published: June 8, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475504248.002

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### Summary
- This paper presents assessment results for the current state of the implementation of the Basel Core Principles for Effective Banking Supervision (BCP) in Spain.
- It found that significant changes have occurred in Spain since the last Financial Sector Assessment Program.
- The most serious change identified was the deterioration of the economy and the real estate sector.
- The core supervisory process at the Banco de España (BdE) is strong and is supported by qualified staff and an experienced cadre of inspectors, but there are areas of concern.

### Key findings
- Implementation focus: Basel Core Principles for Effective Banking Supervision (BCP) in Spain.
- Major systemic development: Significant changes in Spain since the last Financial Sector Assessment Program, with the most serious being deterioration of the economy and the real estate sector.
- Supervisory capacity: Core supervisory process at the Banco de España (BdE) described as strong.
- Human resources: Support for supervision includes qualified staff and an experienced cadre of inspectors.
- Areas of concern: Noted by the assessment (specifics not detailed in the summary text).

### Subjects and keywords (as listed)
- Subjects: Banking; Commercial banks; Financial institutions; Financial sector policy and analysis; Insurance; Insurance companies; Internal controls; Revenue administration; Solvency
- Keywords: banking sector; BdE authority; business model; Commercial banks; corporate governance; CR; financial crisis; fixed income; futures market; Global; insider trading; Insurance; Insurance companies; Internal controls; investment funds; ISCR; risk management; Solvency; State budget

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## Content in this bundle

- **Financial Sector Assessment Program Update — Spain: Report on the Observance of Standards and Codes**
  - [Financial Sector Assessment Program Update — Spain: Report on the Observance of Standards and Codes (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2012/_cr12138.pdf.md){rel="alternate" type="text/markdown"}
  - [Financial Sector Assessment Program Update — Spain: Report on the Observance of Standards and Codes (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2012/_cr12138.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-report-on-the-observance-of-standards-and-codes-summary-assessments-25978_