{ "title": "Spain: Financial Sector Assessment Program-Technical Note-Institutional Arrangements for Financial Sector Oversight", "publication": "IMF Staff Country Reports, November 13, 2017", "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388", "canonical": "https://www.imf.org/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388", "overlayPath": "/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/index.md", "summary": "This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain regarding institutional arrangements for financial sector oversight.", "sections": [ { "heading": "Summary overview", "content": "- This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain regarding institutional arrangements for financial sector oversight.\n- The macroprudential policy framework for banking is now in place, although the national macroprudential authority has not been established.\n- Banco de España is the national designated authority for exercising certain macroprudential powers and, under the Banking Union, shares macroprudential oversight with the European Central Bank, which possesses “top-up” powers.\n- It is recommended that the macroprudential toolkit be expanded, particularly to include more effective tools to deal with risks associated with real estate exposures.\n- Monitoring of system-wide trends needs to be conducted with a greater focus on risks and macro-financial perspectives." }, { "heading": "Key findings", "content": "- Macroprudential policy framework for banking: now in place.\n- National macroprudential authority: not yet established.\n- Designated national authority: Banco de España exercises certain macroprudential powers.\n- European supervisory role: European Central Bank has “top-up” powers under the Banking Union.\n- Gaps identified: need to expand the macroprudential toolkit, especially to address real estate exposure risks.\n- Monitoring shortcomings: system-wide trend monitoring requires greater focus on risks and macro-financial perspectives." }, { "heading": "Policy recommendations", "content": "- Establish the national macroprudential authority to clarify institutional responsibilities.\n- Expand the macroprudential toolkit to include more effective tools targeting risks associated with real estate exposures.\n- Strengthen monitoring of system-wide trends with enhanced focus on risks and macro-financial perspectives." }, { "heading": "Publication and metadata (as provided)", "content": "- Publication title: Spain: Financial Sector Assessment Program-Technical Note-Institutional Arrangements for Financial Sector Oversight\n- Publication date: November 13, 2017\n- Series: Country Report No. 2017/337\n- Issue: 337\n- Volume: 2017\n- Pages: 28\n- DOI: https://doi.org/10.5089/9781484327074.002\n- Stock No: 1ESPEA2017007\n- ISBN: 9781484327074\n- ISSN: 1934-7685\n- Subject: Banking; Financial regulation and supervision; Financial sector policy and analysis; Financial sector stability; Macroprudential policy; Systemic risk; Systemic risk assessment\n- Keywords: budget constraint; cost reductions; CR; Financial sector stability; financial system; Global; government debt market; ISCR; Macroprudential policy; markets authority; prudential authority; sector authorities; solvency II regime; State secretary; Systemic risk; Systemic risk assessment\n\nInternational Monetary Fund. Monetary and Capital Markets Department \"Spain: Financial Sector Assessment Program-Technical Note-Institutional Arrangements for Financial Sector Oversight\", IMF Staff Country Reports 2017, 337 (2017).\n\n---\n\n Content in this bundle\n\n- Country Report\n - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}" } ], "bullets": [ "[Markdown version](/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/index.md)", "[Structured JSON version](/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/index.json)", "[Bundle manifest](/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/bundle-manifest.json)", "Published: November 13, 2017", "Series: IMF Staff Country Reports", "DOI: https://doi.org/10.5089/9781484327074.002", "This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain regarding institutional arrangements for financial sector oversight.", "The macroprudential policy framework for banking is now in place, although the national macroprudential authority has not been established.", "Banco de España is the national designated authority for exercising certain macroprudential powers and, under the Banking Union, shares macroprudential oversight with the European Central Bank, which possesses “top-up” powers.", "It is recommended that the macroprudential toolkit be expanded, particularly to include more effective tools to deal with risks associated with real estate exposures.", "Monitoring of system-wide trends needs to be conducted with a greater focus on risks and macro-financial perspectives.", "National macroprudential authority: not yet established.", "Designated national authority: Banco de España exercises certain macroprudential powers.", "European supervisory role: European Central Bank has “top-up” powers under the Banking Union.", "Gaps identified: need to expand the macroprudential toolkit, especially to address real estate exposure risks.", "Monitoring shortcomings: system-wide trend monitoring requires greater focus on risks and macro-financial perspectives.", "Establish the national macroprudential authority to clarify institutional responsibilities.", "Expand the macroprudential toolkit to include more effective tools targeting risks associated with real estate exposures.", "Strengthen monitoring of system-wide trends with enhanced focus on risks and macro-financial perspectives.", "Publication title: Spain: Financial Sector Assessment Program-Technical Note-Institutional Arrangements for Financial Sector Oversight", "Publication date: November 13, 2017", "Series: Country Report No. 2017/337", "Issue: 337", "Volume: 2017", "Pages: 28", "DOI: https://doi.org/10.5089/9781484327074.002", "Stock No: 1ESPEA2017007", "ISBN: 9781484327074", "ISSN: 1934-7685", "Subject: Banking; Financial regulation and supervision; Financial sector policy and analysis; Financial sector stability; Macroprudential policy; Systemic risk; Systemic risk assessment", "Keywords: budget constraint; cost reductions; CR; Financial sector stability; financial system; Global; government debt market; ISCR; Macroprudential policy; markets authority; prudential authority; sector authorities; solvency II regime; State secretary; Systemic risk; Systemic risk assessment", "**Country Report**" ], "related": [ { "title": "Country Report", "role": "report", "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2017/cr17337.pdf", "summary": { "path": "/-/media/files/publications/cr/2017/cr17337.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/publications/cr/2017/cr17337.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/index.md", "json": "/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/index.json", "bundleManifest": "/en/publications/cr/issues/2017/11/13/spain-financial-sector-assessment-program-technical-note-institutional-arrangements-for-45388/bundle-manifest.json" }, "generatedAtUtc": "2026-09-12T20:49:18.593Z" }