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

_IMF Staff Country Reports, November 13, 2017_

## Source details

**Canonical URL:** [Spain: Financial Sector Assessment Program-Technical Note-Insolvency and Creditor Rights](https://www.imf.org/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-insolvency-and-creditor-rights-45391)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-insolvency-and-creditor-rights-45391/index.md)
- [Structured JSON version](/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-insolvency-and-creditor-rights-45391/index.json)
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## Bibliographic details
- Published: November 13, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484327166.002

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### Key findings on insolvency and creditor rights
- The regime for creditor and debtor rights largely conforms to international best practices.
- 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 because 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.

### Areas emphasized in the note
- Asset and liability management
- Collateral
- Debt restructuring
- Financial institutions
- Financial sector policy and analysis
- Legal support in revenue administration
- Revenue administration
- Securities
- Solvency

### Keywords and thematic terms
- Collateral
- CR
- creditor right
- Debt restructuring
- debtor right
- EU insolvency directive
- Global
- insolvency administrator
- ISCR
- Legal support in revenue administration
- restructuring procedure
- Securities
- Solvency

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr17340.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr17340.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-insolvency-and-creditor-rights-45391_