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

June 8, 2012

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 has been 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.

Subject: 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

Pages:
60
Volume:
2012
DOI:
https://doi.org/10.5089/9781475504248.002
Issue:
138
Series:
Country Report No. 2012/138
Stock No:
1ESPEA2012002
ISBN:
9781475504248
ISSN:
1934-7685

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